ILC Breakfast News – Wednesday 10 May 2023

Call for ClaimsTech – The Pitch applications

Applications for start-up/scale-ups to enter ILC’s inaugural ClaimsTech – The Pitch close on Friday. To enter, click here, and complete the application form.

10 expert insurers have already pledged their support for the event and will be joined by panel of investors during this exclusive session which forms part of ILC ClaimsTech programme on 14 September.

Zurich receives software accolade

Zurich received a five-star rating by brokers in the 2023 Insurance Times eTrading survey for the second year in a row.

More than 700 UK brokers took part in the survey from January to March, which assessed insurers on breadth of cover and product range, quality and number of questions asked, quality of support, quotability, and usability and trading ease.

Key claims topics to shape specialist EV event

Vehicle recovery, repair and recycling are just some of the topics set to be explored at ARC360’s specialist EV event.

Taking place on Tuesday 4 July at the Manufacturing Technology Centre (MTC) in Coventry, ARC360’s specialist electric vehicle (EV) event will provide a rounded view of how the sector is advancing towards an electric future, with attendees hearing from insurers, vehicle manufacturers, repairers and many others throughout the supply chain to understand more of how and why the sector needs to prepare.

Go.Compare announces Coplus collaboration

Go.Compare is partnering with specialist insurer Coplus to provide up to £250 free excess to car insurance customers.

The offer was first introduced in 2019 and has so far refunded more than £4m to customers who have made a claim.

Prasco announces manufacturing step-change

ARC360 Partner, Prasco Group has increased its manufacturing and distribution footprint to more than a million square metres with the acquisition of a new site in Turin.

The move effectively elevates the group to a manufacturer of replacement parts rather than an importer and exporter.

CMA invites comments on Copart/Hills deal

An investigation by the Competition and Markets Authority (CMA) has provisionally found that the completed acquisition of Hills Motors by Copart could reduce competition for the supply of salvage services in the UK, but dismissed concerns that the merger would substantially lessen competition in the supply of damaged and other used vehicles or the supply of recycled parts in the UK.

Injury claims hit all time low

The number of motor claims registered with the Compensation Recovery Unit (CRU), the official route for injury claims, has fallen to their lowest level ever for this first quarter of the year according to ACSO research. 

Sedgwick unveils new legal services

Sedgwick has introduced legal services to UK insurers focusing on first party property claims and recoveries.

Sedgwick Legal Services, which will be led by partners John Hinton and Paul Squires, will expand into casualty, motor and other specialist lines in the future.

Subsidence success for Stress

Stress UK has recently completed a five-month project to provide structural repairs to a three-storey townhouse in London that was showing signs of subsidence.

The job included ground-floor elevation and repairs to cracks throughout the property.

LexisNexis joins BIBA

LexisNexis has become an associate of the British Insurance Brokers’ Association (BIBA), the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.

Cobra strikes deal with Qlaims

Qlaims has become a panel partner for Cobra Network.

This means Cobra brokers can now access Qlaims for both their commercial and homeowner clients.

Difficult conversations made easy

MGAA is delivering a series of online webinars focusing on diversity, equality and inclusion within the workplace.

The second webinar, taking place on 15 May, will consider the best way to prepare for and have challenging conversations with colleagues.

Allianz underwrites Avid travel policies

Allianz Partners UK has been selected by specialist MGA Avid Insurance as its new capacity provider and will now underwrite travel policies sold by Avid.

Motor PI claims down 15% following introduction of OIC Portal

In this contributed article, Insurance DataLab take a look at what has happened in the motor claims market in recent years, with one of the biggest shakeups being the introduction of the Official Injury Claims (OIC) portal in June 2021.

Aviva announces record payouts

Aviva paid £373,949,994 in Group Protection claims to 7,273 employees and their dependants last year. That equates to more than £1m a day in group income protection, group critical illness and group life insurance claims.

Covid compensation reaches £128m

Aviva will pay a further £47m to customers as part of its Covid-19 Pledge.

This follows the £81m paid out last year and means Aviva has now paid out more than £128m for private medical insurance claims disruption during the pandemic.

People

Ecclesiastical Insurance has appointed Marc Lewis as its new Underwriting Director for the UK.