ILC Breakfast News – Wednesday 14 September
13th September 2022Tweet
MGA Claims event to tackle key issues
ILC’s MGA Claims Conference is set to explore the most pertinent issues influencing the sector currently, and unravel just what it means for stakeholders’ next moves.
Supported by gold sponsors Claims Consortium Group, Clearspeed, Davies Group, DWF360 and EDAM Group, along with silver sponsors Robertson & Co, Vitesse PSP and Wiser Academy ILC’s MGA Claims Conference, held in association with the Managing General Agent Association (MGAA), will focus on key subject matters having a real-world influence on the developing MGA claims market.
ClaimsTech Live moved to 30 November
ILC’s ClaimsTech Live event has been rescheduled to Wednesday 30 November due to disruption of the previously planned rail strike taking place on 15 September.
Sector backs Home and Property Claims Conference
ILC’s annual Home and Property Claims Conference 2022 with its focus on sustainability and the value of information has received the backing of the sector’s leading businesses.
Taking place at the CBS Arena, Coventry, on 10 November the event is headline sponsored by WeatherNet which is joined by Gold Sponsors: Catalyst, Davies Group, Perfect Group, Rainbow International and Rhodar Homeworks; along with Silver Sponsors: A3 Accommodation Connect, Gateley Vinden, LexisNexis, Polygon, QuestGates and Polygon.
IUA introduces cladding clause
The International Underwriting Association (IUA) has published a new model insurance clause covering fire safety risks.
Released in collaboration with the Department for Levelling Up, Housing and Communities (DLUHC), the clause aims to help speed up the removal of unsafe cladding and provide insurers with increased confidence in risk management processes employed by the construction sector.
Exclusive Motor Claims Conference reveals leading agenda
ILC’s Exclusive Motor Claims Conference returns to Landing Forty Two, London on 6 October with a highly influential speaker line-up, discussing some of the key matters impacting the sector.
Themed ‘Future Focus’, the event will delve into some of the most pressing issues currently impacting the sector as well as provide a host of market intelligence, keynote insights and future inspiration via a host of key speakers and sessions.
webinARC: technology in motor claims 2022
In this webinARC we look at the latest ways in which technology is being used to seamlessly connect the motor claims cycle.
Copart creates new jobs in Scotland
Copart UK is opening new CashForCars headquarters in the Fife area, creating a raft of new jobs.
CashForCars is Copart’s sister company which buys directly from customers and re-sells them through Copart’s patented online auction platform.
EV skills gap to hit a year early
More technicians underwent EV training in the first half of 2022 than ever before, but it’s still not enough to meet demand with the Institute of Motor Industry now suggesting the skills gap will hit crisis point a year earlier than expected.
Aftermarket appetite for AI increasing
A new survey by Audatex has revealed a growing appetite among bodyshops for the greater use of artificial intelligence solutions, with 56% believing it can enhance estimating efficiency, 51% saying it can improve customer service and 50% citing more efficient parts ordering as a likely benefit.
Meanwhile, Solera Audatex and AutoFlow have announced a new collaboration to develop a two-way data feed intended to enhance integration between the two estimating platforms.
OEMs moving towards network ownership
Automotive Business Consultant at Grant Thornton UK, Owen Edwards has said that automotive retail in Europe is increasingly adopting an agency model, and suggested the next step could see manufacturers owning their own dealer network.
He said, “In Europe many OEMs are rolling out the agency model for their dealers. The agency model is not allowed in the US, however, some of the OEMs are going down the vertically integrated retail route and buying out their dealers. Is this the opportunity for the OEMs to go one step further and own their own dealer network?”
Tesla sets new safety benchmark
The Tesla Model Y scored the highest ever rating (98%) in the Safety Assist category in the latest round of Euro NCAP assessments.
It also scored 97% in Adult Occupant Protection, while Chinese models the ORA Funky Cat and WEY Coffee 01 scored 93% and 94% in Safety Assist respectively.
Cazoo to exit European markets
Cazoo has announced it will shut down all European operations by the end of 2023 and focus exclusively on its UK business.
It says operating on the continent would require too much additional investment and will save up to £100m net by exiting markets in Germany, Spain, France and Italy.
Zego reveals spectacular results
Zego has reported incredible results in the three months since SJA joined its Risk Management Academy, which helps companies understand and improve driver behaviour.
It found that vehicle claims by SJA fleet drivers dropped 84.6%, claims frequency fell 18.1% and claims costs were reduced by 8.7%.
NHTSA updates cybersecurity guidance
The US Department of Transportation’s National Highway Traffic Safety Administration has published an update to the 2016 edition of its Cybersecurity Best Practices for the Safety of Modern Vehicles.
Dr Steven Cliff, NHTSA’s Administrator, said, “As vehicle technology and connectivity develop, cybersecurity needs to be a top priority for every automaker, developer, and operator. NHTSA is committed to the safety of vehicles on our nation’s roads, and these updated best practices will provide the industry with important tools to protect Americans against cybersecurity risks.”
Sector-specific support for insurers
The Insurance Charities is the only charity dedicated to supporting colleagues and their families who are working or have worked in the industry.
As the cost-of-living crisis intensifies, its value to the sector has never been more important.
Here, we talk to Adrienne O’Sullivan, Honorary President, The Insurance Charities & CEO, ARAG Legal Protection, to find out more about the services it provides.
Verisk unveils new all-encompassing risk solution
Verisk has introduced a new risk assessment solution that identifies the exposure of 80 sectors to 52 different ESG and political risks across 198 countries.
Released by Verisk Maplecroft, the global risk analytics business of Verisk, Industry Risk Analytics draws on over 50 global risk indices and combines them with global and local industry risk factors to help companies, insurers and financial institutions better understand the risk to their operations, supply chains and investments.
Reinsurance set for turbulent time before growth returns
Munich Re is predicting a ‘substantial’ decrease in reinsurance capital this year.
It believes that a combination of inflation, rising interest rates and the war in Ukraine will result in an eight per cent decline to $435bn by the end of the year, with European reinsurers hit especially hard due to the weaking Euro against the Dollar.
However, it believes demand remains robust and predicts the resinsurance sector will resume growth next year, rising by between two and three per cent between 2023 and 2024.
Amazon selects INSHUR as insurance partner
Pay-as-you-go insurer INSHUR has announced a new partnership with Amazon.
Dan Bratshpis, Co-Founder and CEO at INSHUR, said, “Amazon values partners that can challenge the status quo, move quickly and adapt to changing needs, which is why they’ve selected INSHUR. We always strive to solve customer problems and are very excited about partnering with Amazon to create an innovative solution for their needs.”
Davies announces US acquisition
Davies has announced the acquisition of Johns Eastern Company, a leading third-party administration (TPA) and independent adjusting firm.
Florida-based Johns Eastern delivers technology-enabled end-to-end management services for claims relating to workers compensation, automotive, trucking, general liability, property and cargo.
It will now form part of Davies’ established claims operations in the US.
PwC Economic Outlook makes grim reading
PwC’s Economic Outlook has warned that UK workers face average £2,000 cut to real wages by the end of 2022, with inflation set to peak at a five-decade high of 17% by middle of 2023.
Further, it expects the UK to enter a recession later this year, with economic growth in the next two years expected to average somewhere between -1.3% and 0.2% in 2023 and -0.3% and 0.6% in 2024.
Collaboration key to unlocking ESG opportunities
DAC Beachcroft has published a new report identifying the opportunities ESG presents to building a resilient and sustainable future, but urges greater collaboration between government, business and regulators to realise these benefits.
Helen Faulkner, partner and Global Head of Insurance at DAC Beachcroft, said, “There is a need for joined-up thinking as never before as we face an almost relentless conveyor belt of disruptive issues that have the potential to undermine insurers’ value propositions and cause societal dislocation. Harnessing the power of a coherent, joined-up ESG strategy is going to be key in meeting the challenges we face.”
Thomas Allibone has been named Business Change Manager at the Motor Insurance Bureau.
DAC Beachcroft LLP has named Simon Oates as new Sales Director for DACB Corporate Insurance & Risk (CIR).
Solus Accident Repair Centres has appointed Adam Murray as Head of Technical for Engineers.
Darren Entwistle has been promoted to Head of Commercial Supply at EDAM Group.
Aviva has selected Suzie Nolan, Head of Property Fund Management at Aviva Ireland and Chief People Officer Danny Harmer onto this year’s HERoes Role Model Lists.Tweet
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