News
Applied CEO ‘plays offense’ to fight off challenger firms
Taylor Rhodes, group CEO of Applied Systems said the firm studies any businesses looking to challenge and take some market share in a move he describes as “playing offense”.
Applied now ‘more mature’ when dealing with AI
Anupam Gupta, chief product officer for Applied Systems, has said the company and wider market is more mature now when talking about artificial intelligence than it was a year ago.
Charles Taylor InsureTech steps up London Market digitalisation
Charles Taylor is to offer Delegated Data Manager to London Market clients as an elective market service via London Insurance Market Operations and Strategic Sourcing.
Aviva’s cyber partnership; Clear buys Accelerate; Bupa's insurance CEO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Verisk boss urges testing of AI data to avoid discrimination and bias
Verisk’s head of analytics for underwriting solutions has told the industry to use broad and representative data sets to avoid “disparate outcomes and unfair discrimination” when developing AI models.
London market has a ‘cost problem’
The London market is weighed down by a cost problem, and will struggle to provide the best solutions for clients unless it pushes forward with a digital-first approach, a Marsh digital leader explained.
Police warn insurers about uptick in deepfake fraud
Detective Chief Inspector Tom Hill, head of unit for the Insurance Fraud Enforcement Department at the City of London Police, has warned audio and visual manipulation enabled by technology, also known as deep fakes, is a major growth area for insurance…
Lloyd’s CEO hails ‘superb’ first half of 2024
Lloyd’s has today announced an overall profit before tax of £4.9bn (HY 2023: £3.9bn) for the first six months of 2024.
Direct Line ‘turnaround underway’ as insurer returns to profit
Direct Line Group has returned to profit after shedding almost 488,000 motor customers in the first half of this year.
Make-up of the insurance industry in 2024 revealed
Insurance Post’s 2024 Census shows women have smashed through the industry’s glass ceiling, and most employees are only going into the office on Tuesday, Wednesday and Thursday, post-pandemic.
Norgrove aims to ‘dial up the voice of the SME’ in ABI role
RSA UK CEO Ken Norgrove has said he wants to use his new role at the Association of British Insurers to help small and medium-sized businesses “get their voices heard”.
Zurich creates climate alliance after ditching NZIA
Zurich has created the Zurich Climate Resilience Alliance, 17 months after exiting the United Nations Net Zero Insurance Alliance.
Simply Business CEO Thomas to head up Ripe
Alan Thomas, CEO of Simply Business is set to replace Paul Williams as CEO of Ripe and has been tasked with powering the "next phase" of growth.
Vet nurse bitten for £13K pet insurance fraud
A veterinary nurse has been sentenced after making more than £13,000 worth of fraudulent insurance claims to Allianz for her pets using the systems at her workplace.
Aon UK names Kemp as head of commercial risk
Rob Kemp has been appointed as Aon’s new head of commercial risk for the UK, stepping into the role UK CEO Jane Kielty had left vacant.
Aviva targeting ultra-HNW growth following acquisitions
After completing the integration of the Azur and Axa XL private clients’ business, Aviva’s managing director for high net worth Ann Owen has said the insurer is looking to grow, but not “at any cost”.
Top risk for UK businesses; WTW’s latest launch; Lloyds Bank’s head of insurance
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Axa UK GI records £103m underwriting loss in 2023
Axa’s UK general insurance company made a £103m underwriting loss in 2023, accounts filings have revealed.
Changes at the top of FOS as Rachel Lam leaves post
Insurance Post has been informed that Rachel Lam is no longer in her position as ombudsman director of insurance at the Financial Ombudsman Service.
Brokerbility targets member GWP growth of 20%
Brokerbility MD John Dunn says that while members are on average growing at about 16% per year, he wants growth to hit 20%.
Insurers that paused EDI work told to redouble efforts
The insurance industry may need to renew ethnicity and disability data collection efforts due to Labour’s diversity pay reporting proposals.
Biba brings in Pen’s Downey to replace retiring Manchester
British Insurance Brokers’ Association CEO Graeme Trudgill has announced Pen Underwriting’s Tom Downey will take Charles Manchester’s seat on its Network and Managing General Agents advisory board.
UK riot damage racks up £250m insurance bill
Insured losses from the recent UK riots will be at “manageable levels” of less than £250m, according to Morningstar.
Ardonagh buys broker; Compass offers beach hut cover; Minster Law’s hire
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.