Aggregators
Post magazine – 25 April 2013
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Video chat firm targets insurers with facial recognition software
The company behind a new online facial recognition technology has claimed insurers that sign up to use the software will make significant savings by reducing fraud and winning back market share from aggregators.
Aggregators: We don't need the aggravation
As aggregators come under fire for a lack of standards and insurance qualifications, some are still cool on improving professionalism.
Expert Analysis: Making changes
Price comparison sites are making changes to the way they operate, embracing telematics and moving into new product lines.
FCA business model met with trepidation in insurance industry
Fears have been voiced by the insurance industry that the new regulators will intrude too much into the commercial sphere and that having two bodies will cause inefficiency.
Aggregators continue to rely on brokers in commercial space, states report
Online aggregators have been unable to repeat the success achieved in the distribution of personal lines insurance in the commercial arena, where specialist brokers are more heavily relied upon.
BGL criticises Biba over ‘prehistoric’ views
The BGL Group has slammed views expressed by Eric Galbraith, chief executive of the British Insurance Brokers’ Associations, on the transactional nature of insurance, describing these views as ‘prehistoric’.
Italy's political shift could spur ecommerce
While the uncertain outcome of Italy’s February election may herald a worrying time for Eurozone politicians, the success of Beppe Grillo’s Five Stars Movement it could have a positive impact on the insurance market.
Success of Esure float boils down to accurate pricing in current market
Esure could err on the side of caution when it comes to pricing its stock as it aims to follow Direct Line Group onto the London Stock Exchange, analysts have suggested. The personal lines insurer confirmed plans to float as it revealed its 2011 result.
Website review: Poor speeds leave users Confused
Confused’s travel insurance website was found wanting after Compuware tested its landing page between 19 January and 21 February using its Gomez performance benchmark.
Digital Insurance Strategies: Bennetts reaps the benefits after setting up its own social media site
Insurance firms must embrace social media sites such as Facebook and Twitter as a means of “getting in front of” and engaging with customers – but they are no match for setting up a social media site of one’s own.
Improving Underwriting: Adding some colour
Larger amounts of more detailed data are available to insurers but can they create a balance between profitability and fair rates?
High Net Worth: Rich Pickings
With an increase in providers of high net worth insurance in recent years, wealthy customers have plenty to choose from. What can firms do to stand out from the crowd?
Customer Satisfaction: Thumbs Down
Why are consumers reporting poor satisfaction levels in their customer experiences with insurers?
Motor repairs: In need of repair
A recent investigation by Channel 4’s Dispatches slammed the motor insurance industry for its approach to repairs. Can the sector come back from the criticism?
Torrance praises Allianz "discipline" in commercial lines
Allianz has attributed its success in commercial lines to a “disciplined approach” in risk assessment and pricing.
Aggregator influence grows as disposable income shrinks
The importance of aggregators as a distribution channel for European insurers is increasing as strapped consumers search for better deals, according to research by CP Consulting.
Aggregator quotes peak at 163m in January
Open GI has recorded its highest monthly volume of aggregator quotes, amounting to over 163m in January 2013, with motor quotations amounting to 90% of the this figure.
Assurant director joins competitor as MD
The Source has appointed Assurant Intermediary's former sales & marketing director Kevin Paterson as its new managing director.
French consumers least likely to go online for insurance purchases
Online comparison sites are the fastest growing distribution channel for motor and household insurance in Europe, according to Finaccord.
France lags European neighbours for aggregator use and online sales
Aggregators are the fastest-growing distribution channel for motor and household insurance in Europe while online purchases have grown rapidly across the continent, according to research from Finaccord.
Insurers seek investigation into comparison site clauses
Motor insurers have pleaded with the Competition Commission to perform a U-turn and investigate the use of ‘most favoured nation' and ‘best price' clauses by aggregators – an omission that has been labelled "beyond belief" by one player.
Editor's comment: The no competition commission
You learn something new every day, or so the saying goes. Well I certainly learnt something new this week, along with several PRs — judging from the responses I got.
London, Leeds and Bradford residents most likely to make theft claim
Homeowners in London, Leeds and Bradford are the most likely to make a claim for theft or burglary and are paying 20% more for their home insurance, according to Money Supermarket.