Motor - personal
FCA warns insurers against undervaluing written off cars
The Financial Conduct Authority has seen evidence of insurers offering consumers whose cars have been written off a price lower than the vehicle’s fair market value.
Digital Bar Quarterly: Revealed, the insurer brands driving standards in usability
This month benchmarking service Digital Bar launched usability assessments for UK direct insurer brands alongside its latest digital capability rankings. Simon Fenn, co-founder of its partner Pancentric, gives a high-level view of usability standards…
FCA to crackdown on insurers over ethnicity pricing penalty
The FCA will take enforcement action against insurers who fail to strip data biased against ethnic minority groups out of their product pricing and services, law firm Browne Jacobson has warned.
Insurance Taskmaster Episode Four: Detecting motor fraud in and around Euro 96 [1996]
Insurance Post has teamed up with Verisk for a new video show, in which we tasked six industry rising stars to solve some of the historic challenges faced by the market over the past two centuries.
Ex-Esure CEO Peter Graham seeks partners for insurtech Kudo
Kudo, the insurtech motor start-up set up by former Esure CEO and Legal & General MD Peter Graham, is seeking partners in the open banking, insurer and aggregator space after falling short in a crowdfunding round.
EY: Motor and home insurers set for biggest loss in over a decade
Motor and home insurers are expected to make significant losses this year and next, due to underlying inflationary pressures and premium rate falls, according to analysis by EY.
Insurance account handler turned fraudster caught after climbing Sydney Harbour Bridge
Lois Cartridge, an insurance account handler who exaggerated the severity of her whiplash claim while posting photos on Facebook of her climbing the Sydney Harbour Bridge, has received a suspended prison sentence.
Automated, standardised criteria on simple repair cases allows greater efficiency as complexity increases
Standardising and automating the criteria of whether a damaged part in a motor vehicle has to be repaired and replaced on simple repair cases allows greater efficiency as complexity increases, according to BDEOs head of sales Sebastián González.
Insurance Taskmaster Episode Two: Facing up to the collapse of Vehicle and General [1971]
Insurance Post has teamed up with Verisk for a new video show, in which we tasked six industry rising stars to solve some of the biggest historic challenges faced by the market over the past two centuries.
Interview: Gary Duggan, Tesco Underwriting
Tesco Underwriting CEO Gary Duggan sat down with Pamela Kokoszka to discuss the Ageas buyout, the plans for the business, meeting customer expectations, and his passion for improving diversity within the insurance industry.
Axa's Tara Foley: Moja is already attracting younger customers than other brands
During its first month of trading Axa’s new digital start-up Moja has attracted customers that are on average a decade younger than its other brands, Insurance Post can reveal.
Mass renews call for early review into OIC tariff
The Motor Accident Solicitors Society has renewed its call for an early review of the tariff of damages for low-value road traffic accidents, as recommended by the Lord Chief Justice of England and Wales.
E-scooter legislation must be mandated 'urgently' amid further trial extensions
Despite e-scooter trials being extended until May 2024, there is hope that legislation will be introduced sooner rather than later.
Blog: Will the risk and costs of legalising e-scooters outweigh the benefits?
With 31 regions across England currently trialling e-scooters as part of the drive towards Net Zero, David Nichols, chief claims officer at Zurich, considers what the consequences of legalising these vehicles will be for both insurers and policyholders.
Insurers agree FCA price walking ban benefits customers, but ‘doesn’t mean renewals will always go down’
Insurers have disputed Which? survey results saying the majority of their car and home insurance customers are seeing their prices go down which demonstrates that the ‘new rules are working’.
Digital Bar Quarterly: The future for embedded insurance – an opportunity to enrich the customer experience
As the Financial Conduct Authority pricing reforms start to bite, insurers need to rethink their customer retention and acquisition strategies. Dan Martin, Altus consultant, outlines how embedded insurance offers them a chance to form deeper…
Higher personal lines premiums ‘an inevitability’, says RSA’s Norgrove
RSA will not hesitate to increase personal lines premiums in the face of economic headwinds, UK and international CEO Ken Norgrove has said.
Concerns grow for unrepresented claimants as trends appear in OIC figures
The fourth set of figures from the Official Injury Claims portal shows that the number of unrepresented claimants still make less than 10% of those using the portal, with the claimant sector concerned about ability of accident victims to get support they…
Mixed injuries working group aims to take a range of test cases to Court of Appeal ‘as quickly as possible’
As first instance judgments are starting to come through, Martin Saunders, Official Injury Claim’s portal head of service says the mixed injuries working group aims to take a range of test cases to Court of Appeal “as quickly as possible”.
Blame laid at the OIC portal for unexpected fall in PI motor claims since pandemic
Personal injury motor claims decreased despite more traffic since the pandemic, according to CRU figures, with blame being directed towards the government portal
Q&A: Waseem Malik, Aviva
Recently appointed chief claims officer at Aviva, Waseem Malik caught up with Post to chat about his move from Axa, the simplification and digitalisation of claims function at Aviva, and the impact of inflation and the supply chain shortage crisis.
Intelligence: The Tesla threat - EV disruption will hit the insurance market
Insurers have long been wary that car manufacturers could hijack a slice of the motor insurance market, but as David Worfold explains it is electric vehicles and their connectivity that are likely to be the most disruptive force in the immediate future.
EY predicts motor NCR of 113.8% in 2022; Geo buys Lorega; Konsileo secures Series A funding; and ex-Fresh trio launch new broker
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
British Insurance Awards 2022: Personal Lines Insurer of the Year - Ageas UK
Ageas UK’s strategy has brought sharp focus to its heartland personal lines business in its vision is to become smarter, faster and more affordable.