ILC Breakfast News – Wednesday, 15 August 2023

Consumers at heart of new ILC event

ILC’s new Risk & Compliance event – ‘Consumers – more than just a duty’ – is set to explore the changing landscape of consumer interaction within claims. 

The event, which takes place on 15 November at etc venues, is set to discuss how insurers and supply chains can work together to optimise the consumer journey whilst satisfying ever-changing legislation and navigating heightened socio-economic challenges. 

Insurers keen to explore ClaimsTech solutions

Around 50 of the insurance claims sector’s key decision makers are set to attend ClaimsTech LIVE – keen to explore the latest technology solutions available. 

Taking place on 14 September at etc venues, 133 Houndsditch, London – ClaimsTech LIVE is backed by Headline Sponsor CoreLogic, along with Gold Sponsors Solera Audatex, Verisk and Entegral – each set to offer on-stage, interactive demonstrations of their technologies during the event; and Silver Sponsor Synergy Cloud. 

Lloyd’s market report £1.5bn underwriting profits

Analysis by Insurance DataLab has found that the Lloyd’s market reported an underwriting profit of £1.5b in 2022, which represents a 29% increase on the previous year.

The increase, which comes despite a 41% fall in gross claims incurred, was driven by a 79% increase in marine, aviation and transport claims.

Sedgwick highlights the benefits of tech

Sedgwick has produced a new blog examining the benefits of technology within the claims sector.

It considers how remote assessments and automation can accelerate the claims journey and lead to more a consistent and efficient claims process.

Making the most of tech to secure compliance

Easysend has warned insurers that the continued adoption of digital solutions could be at odds with ever-tightening compliance regulations. However, it suggests that effective use of technology could actually support companies in their efforts to adhere to tougher laws around data protection and customer service.

MGA Claims Conference filling up fast

ILC’s MGA Claims Conference is filling up fast with new sponsors and exhibitors coming onboard, and demand for tickets high. 

Held in association with the Managing General Agents’ Association (MGAA), ILC’s MGA Claims Conference takes place on 28 September at 155 Bishopsgate, London and is supported by Headline Sponsor Claims Consortium Group (CCG); Gold Sponsors: Activate Group which is new onboard this week, Carpenters Group, EDAM Group, Enterprise, Pulse, and Wiser Academy, all of whom will feature in the exhibition arena. 

Mulberri launches cyber solution

AI-powered insurance platform Mulberri has expanded its portfolio with the launch of Mulberri Cyber Insurance.

The new MGA is tailored to help small to medium sized businesses safeguard against the threat of cyberattack.

Key names to provide latest claims inflation insights

Stuart Sandell, Assistant Vice President – Sales – UK and Ireland at Enterprise Holdings; Dave Sargeant, Managing Director, Gemini ARC; and Donna Scully, Director/Owner of Carpenters Group are set to explore the latest in claims inflation at ILC’s Exclusive Motor Claims Conference (EMCC). 

e2e introduces daily data reports

e2e has partnered with Incited to transform the way insurers can interrogate and apply total loss data to inform business decision making.

It has innovated its management information and reporting function to ensure data loss data is updated every 24 hours.

SYNETIQ and LV= provide key to sustainability

SYNETIQ has launched a client initiative with LV= Insurance which sees unused keys sold to raise money for charity.

The two businesses have come together to sell unused keys for reuse to support the insurer’s chosen charity, FamilyAction – an organisation which supports families when they need it the most.

Motor premiums reach record high

Motor insurance premiums reached a record high in the second quarter of 2023, with the average comprehensive policy now £511.

According to the Association of British Insurers, this is a seven per cent rise on the first quarter and 21% up on the same quarter of 2022.

Best practice and best outcomes: EV batteries

There is no one-size-fits-all approach to best practice, and good outcomes differ according to sector, service and customer. For SYNETIQ, best practice is about ensuring that total losses are managed in the most effective and efficient way for both the customer and the environment.

EVs present a wholly new concern in this area; here, SYNETIQ discusses the challenges posed by battery recycling, and how it is working with the wider industry to find best outcomes.

EVs drive used car market revival

Surging sales of electric vehicles powered a 4.1% rise in the UK’s used car market in the second quarter of the year.

According to the Society of Motor Manufacturers and Traders, used electric vehicle sales soared by 81.8% in the three months between April and June, with double-digit growth also recorded for both plug-in hybrids (11.4%) and hybrids (29.5%).

Home insurance premiums climbing

Home insurance in the US is rising rapidly as extreme weather events multiply.

According to insurance comparison website Insurify, premiums are expected to leap by nine per cent this year. This follows a seven per cent rise in 2022.

Nubank launches home insurance offering

Digital financial services platform Nubank has launched a new home insurance offering in partnership with Chubb. Nubank Lar Seguro will become available to customers in Brazil over the next few months.

CoreLogic unveils INTRCONNNECT Europe

CoreLogic will host INTRCONNECT Europe at 8 Northumberland, London, on 20 September.

Taking place under the banner, Making Everything Possible Together, the event will include presentations and panel discussions with key industry leaders, and consider the innovations in claims, underwriting, and risk management that are shaping the sector.

Charity champion

Allied Universal CEO Steve Jones has raised £1.5m for the only shelter in the US dedicated to human trafficking victims, Vera’s Sanctuary.

People

Mariam Rahman is starting a new position as Claims Team Leader at ManyPets.

INSHUR has appointed Chris Wells as President of its fully owned Third-Party Administrator (TPA), Genoteq Claims Investigations.

Allianz Commercial has confirmed the appointment of Simon Hanley as regional manager, South and announced that Caroline Donati will join Allianz as branch manager, Southampton in October.

Martyn Rowley has been appointed Director of the NBRA.