Insurer
Arron Banks claims Barclays closed his account in 2018
In the midst of the saga surrounding Nigel Farage’s Coutts bank account, Arron Banks has also claimed to have had his accounts shut down.
Pen restructures; Percayso raises £2.7m; Axa’s Foley successor
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Which? warns insurers are falling short of Consumer Duty standards
As the deadline for the Consumer Duty edges closer, a Which? survey has highlighted shortcomings in how insurers explain rejected claims.
FCA extends latest product governance survey deadline
Having originally given brokers only a few weeks to send back a “demanding” survey into product governance and distribution practices, Post can reveal the FCA has extended its deadline from 11 August to 1 September.
How insurance boardrooms are changing
Data analysis: An EY survey has reviewed the movements of board members, with insurance showing a higher turnover rate than last year, which might be representative of new focuses within the boardroom.
Axa XL’s carbon emissions product; Defaqto’s updated Matrix software; Flock appoints CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Elon Musk joins the AI party
Elon Musk has announced the formation of xAI, his long-anticipated artificial intelligence startup designed to compete with Open AI’s Chat GPT, Google’s Bard, and other similar platforms.
Insurers unsure what diversity data they can collect, legal experts say
Firms have been urged to collect diversity data on a voluntary basis to be able to make “positive action steps” towards change.
BoE braces insurers to handle more cash-strapped customers
The Bank of England has warned higher interest rates increasing debt-servicing costs will result in general insurers having to handle a growing number of people financially squeezed in the coming months.
Best Insurance Employers to work for in 2023 revealed
Konsileo and Aioi Nissay Dowa Europe have been named as the greatest SME and large places to work, respectively, in this year's Insurance Post Best Insurance Employers Survey.
Best Insurance Employer: So-Sure
So-Sure appears on the Insurance Post Best Insurance Employer list for the first time after achieving a four-star rating.
Best Insurance Employer: HSB
HSB was rated five stars in this year’s Insurance Post Best Insurance Employer list, and is stepping up diversity and inclusion work to climb to the top of future rankings.
MGA service superior compared with ‘monolithic’ insurer approach
Standards have slipped for “big household name” insurers and MGAs have stepped up to offer a “tailor-made” service which is making them the partner of choice, brokers have revealed.
Claims handlers' errors put Zurich on the hook for uncovered Covid claims
The Commercial Court has told Zurich it is obliged to indemnify a student travel company for Covid cancellation refunds, even though the refunds fell outside the scope of its policy.
Qover partners with Zurich; Keoghs takes team from Plexus; Allianz appoints CIO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
FCA urges insurers to consider what ‘fair’ means
The Financial Conduct Authority has reminded insurers to reflect on what “fair” means going forward, after Direct Line was slammed for underpaying customers.
NZIA relaxes emission target rules after mass exit
The Net-Zero Insurance Alliance has relaxed its requirements to a “no obligation to publish targets” policy after many members exited the group.
Motor premiums will ‘need to go up further’ to manage claims costs, says ABI’s Skeet
The Association of British Insurers’ director of general insurance policy, Mervyn Skeet, has told Insurance Post that motor premiums will “probably need to go up further” because claims costs are still increasing.
Amanda Blanc tells industry to ‘stand together’ following NZIA fallout
Aviva’s Blanc asked three things of the industry in the fight against climate change and said it remains the “most important issue” we face regardless of recent events.
Insurance and repair concerns could stifle EV adoption, says Thatcham
A report from Thatcham Research has stressed how insurance implications remain unclear on repair capacity, training, skills, and cost, as well as the lifetime sustainability of battery electric vehicles.
ABI calls on insurers to save ‘shocking decline’ in nature loss
The Association of British Insurers has launched guidance to help the industry become “nature positive”.
AI will ‘democratise’ VIP customer treatments
Edward Challis, head of AI strategy at Ui Path, explained how generative AI could be the ‘birth’ of bespoke experiences, with old systematic and impersonal operations a thing of the past.
Insurers must right their wrongs for vulnerable customers, says FCA
Home and motor insurers need to put the “wrongs right” and “improve their treatment” of vulnerable customers as the cost-of-living squeeze continues.
Insurers need to solve ‘core problem of data’ before immersing into generative AI
Boris Krumrey, global vice president of automation innovations, Ui Path, has revealed how insurers need to tackle legacy systems before trying to implement generative artificial intelligence into their business.