News
Academy names CEO as Normand steps back
Academy Insurance Services has appointed Martin Tyler as CEO, replacing Gilles Normand, who has stepped down to move into a non-executive career.
Direct Line raids Aviva again for another exec hire
Direct Line Group has raided Aviva once again, this time for its new group chief risk officer.
R&Q sells UK legacy insurer as it files to appoint liquidators
R&Q has agreed to sell UK legacy insurer Inceptum to Marco Capital and has confirmed that it has filed to appoint liquidators in Bermuda.
Atec aims to ‘accelerate’ growth after being bought by Perwyn
Atec’s growth ambitions were given a boost today (24 June) after European private equity investor Perwyn bought the business from Kester Capital.
Insurance Post Census 2024: Have your say
Insurance Post’s Census is back, and we need your help to achieve a snapshot of the make-up of the industry in 2024.
Plugable’s charger scheme; FSCS’ claims partnership; Aon’s broking head
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Axa reveals AI pilots being rolled out across business
Axa has more than half of its artificial intelligence use cases already in production, according to Axa XL chief innovation, data analytics officer Ashok Krishnan.
NFU Mutual only feeds AI models internal data
NFU Mutual is only feeding generative artificial intelligence models internal data to avoid inaccuracy, according to chief data officer Alistair Mathie.
Zurich to review family friendly HR policies
Zurich’s human resources and actuarial teams are conducting a review of its family friendly policies and benefits, Insurance Post can reveal.
Four key takeaways from Insurance Post’s AI Summit
Insurance Post organised a conference for senior-level artificial intelligence leaders from the UK’s largest insurance companies to discuss strategies for implementing AI, as well as the challenges and opportunities encountered in their transformation…
R&Q to enter liquidation in Bermuda to facilitate Accredited sale
R&Q has confirmed it is to enter provisional liquidation in Bermuda in order to push through the proposed sale of Accredited to Onex.
Hiscox uses AI to slash underwriting from three days to three minutes
Hiscox has shortened its lead underwriting journey for the London Market sabotage and terrorism book from three days to three minutes through the use of generative artificial intelligence.
EU AI Act may block smaller insurtechs from market entry
Smaller insurtechs in the artificial intelligence sector will be subject to additional regulatory oversight due to the European Union AI Act, which may prevent them from making it into the market, according to Sixfold CEO Alex Schmelkin.
Zurich prioritises internal AI development over partnerships
Zurich is focusing on in-house expertise rather than external partnerships for artificial intelligence development, according to data science lead Jonathan Davies.
Insurance market has rushed automation – survey
Many technology professionals at insurers and MGAs believe the market has rushed into automation, according to a survey by RDT Tech.
Ageas reveals AI has saved business more than £4m
Ageas has saved more than £4m due to the use of artificial intelligence, with £2m of the savings coming from AI-enhanced fraud models.
Ecclesiastical is cautious about generative AI for complex tasks
Ecclesiastical’s generative artificial intelligence technology is not ready to support high value or complex task replacement, according to group technology director Graeme Howard.
Consumers want Amazon and Tesla embedded insurance products
Four out of 10 consumers would be comfortable with the idea of buying insurance from companies such as Ikea, Amazon, or Tesla when making purchases from those brands, according to Guidewire’s Insurance Consumer Survey 2024.
‘Nascent’ cyber market to hit ‘choppy waters’
Experts speaking at the Financial Times Global Insurance Summit on 13 June have said there are going to lots of ups and downs in the cyber market, with one suggesting “premiums are under-priced”.
Clear’s latest deal; JMG surpasses £300m GWP; Kane named Allianz ambassador
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Axa and Zego reject generative AI for pricing
Axa and Zego have ruled out using generative artificial intelligence for pricing due to compliance concerns.