ILC Breakfast News – Wednesday 1 December 2021
30th November 2021Tweet
Enterprise makes management moves
In the week that Enterprise Holdings has created nearly 2,000 positions on its Management Training Program, the UK’s largest vehicle rental company has announced that former graduate Ryan Johnson has been promoted to Managing Director for UK & Ireland. He takes over from Khaled Shahbo, who has been appointed Senior Vice President of European Operations.
Meanwhile, the new graduate positions will be made available over the course of the next year and can be taken up at any of Enterprise’s 450 branches across the country, with high-performing trainees progressing to assistant manager within just eight to 12 months.
Development begins on UK superhub
Work has begun on what will be the UK’s largest electric vehicle superhub. Powered entirely by renewable energy, the site, situated at Redbridge Park & Ride, Oxford, is being developed by Pivot Power, part of EDF Renewables, and Oxford City Council.
Expected to open to the public next spring, it will host 38 fast and ultra-rapid chargers, including 10 Fastned chargers with up to 300kW of power, 16 Gamma Energy chargers with between 7-22kW of power, and 12 250kW Tesla Superchargers.
New portal cut claims to under 24 hours
BGL Insurance and Auto Windscreens have partnered up to create a new digital glass claims portal that will see the most urgent cases completed in under a day.
The new portal, which continues BGL’s investment in streamlining the claims journey, allows customers to report a glass claim digitally, with all relevant data including policy number, car registration, and insurer, automatically transferred to the Auto Windscreens booking system. This enables customers to schedule an appointment with a glass technician directly.
CAPS updates data standard
Data exchange platform CAPS has updated its data schema to keep pace with the changes in the types of motor claims data while also enhancing security, integrity and compliance.
The CAPS schema defines the scope of the data shared on the platform and its validation during a motor claim.
The latest version enables it to validate new values while reflecting the growing integration of claims and systems used both within the application and bodyshop sectors.
Procurement process over-complicated
A third of touchpoints can be taken out of claims without negatively effecting the process.
That was the opinion of Matthew Parker, Managing Director of Procurato, during a panel debate at the I Love Claims Home & Property Claims Conference, held at the CBS Arena, Coventry on 11 November.
He was joined on stage by Mark Devanney, Sales and Marketing Director, SureStop; Kate McKenzie, Co-Owner, Courtesy Kitchens and Bathrooms; and Neale Vickery, UK National Manager, Corroventa, as they addressed the role of procurement in claims and examined ways it can be streamlined to reduce cost and wastage.
Heritage announces insurtech partnership
US based property and casualty insurance holding company Heritage Insurance Holdings has announced a strategic partnership with insurtech start-up Slide. The partnership will allow Heritage to leverage Slide’s technology to improve underwriting and rating decisions.
The move comes after Slide announced it has secured $100m in a Series A funding round which will accelerate the development of its data-driven technology and operations.
Hyams champions better together approach
Insurers have been urged to embrace technology and technology companies in order to meet rising customer expectations and cut costs because, while it’s tempting to view insurtechs as rivals and disrupters, tapping into their expertise could provide a win-win-win solution for insurer, tech provider and customer.
That was the message delivered by Jeremy Hyams, CEO of the Claims Consortium Group, who was addressing delegates at the I Love Claims Home & Property Claims Conference, held at the CBS Arena, Coventry on 11 November.
Industry backs Whisker Labs
Artificial intelligence developer Whisker Labs has announced that it has closed its oversubscribed Series C funding round.
A wholly-owned subsidiary of State Farm Mutual Automobile Insurance Company, Whisker Labs will use the extra investment to develop its product portfolio and scale the business to meet growing demand. More than 100,000 homes already use its solution, Ting, and Whisker Labs plans to at least double that by the end of 2022.
Experian acquires insurance aggregator Gabi
Experian has acquired US based, mobile first insurance aggregator Gabi for $320m.
In its half year financial report, Experian stated: “This wholly-owned digital insurance agency allows us to expand our presence in the auto insurance vertical.”
ILC Industry leader interview – Lesley Johnson, Davies Group
“I predict not just a continued focus on and investment in technology but a significant ramp up in this area with a spotlight on improving the customer journey.”
Willis Towers Watson partners with CodeEast
Willis Towers Watson and software provider CodeEast have announced a global partnership offering a new digital transformation solution for insurance companies and MGAs.
The pairing claim that by combining Willis Towers Watson’s Radar Live with CodeEast’s ONEview digital insurance platform it provides a solution that maximises profit margins through real-time risk assessment and reduces operational costs by deploying state-of-the-art insurance product distribution technology.
Industry leaders left vulnerable by Covid
Nearly a third of senior leaders are worried about their personal liability because of decisions they have taken during Covid-19.
QBE surveyed 500 senior decision makers in the UK and found that 30% are more concerned about claims being taken out against them than they were pre Covid-19. The research also found that of those who have had claims made against them in the past five years, 72% have occurred during the pandemic.
Zurich introduces green benefit
Zurich UK is subsidising a new subscription service for employees who want to buy environmentally-friendly products. The green benefit has been introduced after Zurich’s collaboration with Leo’s Box, which offers a wide range of sustainable goods.
Zurich will cover the standard subscription fee to Leo’s Box for the next 12 months for all its 4,500 employees, enabling them to purchase sustainable products at a reduced price.Tweet
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