ILC Breakfast News – Wednesday 15 February 2023
14th February 2023Tweet
ILC Day 2023 round-up
ILC Day 2023 saw organisations and individuals from across the sector ‘get involved’ and help raise awareness and sponsorship for the Rainbow Trust children’s charity. The fundraising activities included the Great Insurance Bike Ride – headed by ILC Founder Chris Ashworth which saw individuals from across the sector jump on a bike to cycle 50 miles.
ILC unveils New Generation to bridge skills gap
ILC will address the skills and talent needs within insurance at a new event taking place in April.
Headline sponsored by specialist training provider Wiser Academy, the inaugural ILC New Generation in Claims event will take place at etc.venues Manchester on 26 April, aimed at everyone who is impacted directly or indirectly by a lack of new talent entering the industry and the challenges associated with keeping skillsets ahead of the curve.
The next session for ILC’s upcoming Subsidence Surge event has been announced. It will feature a keynote presentation on resource and innovation from Admiral’s Head of Supply Chain, William Quibell. The presentation will be followed by a panel discussion with experts across the home and property claims sector.
Prevention better than cure in climate change battle
Aviva latest Building Future Communities report has revealed that installing basic property flood resilience measures can reduce emissions by 64%.
This comes after research found that restoring a flooded home can create 13.9 tonnes of CO2 emissions, which is equivalent to six and a half return flights from London to New York.
Keoghs continues internal growth
Keoghs has bolstered its Property Risks and Coverage Division with two new appointments.
Michael Harvey and Edwin Milburn have both joined Keoghs, a Davies business, bringing with them a wealth of experience in the sector.
AdvanceCare selects Sprout.ai as digital partner
AdvanceCare has adopted Sprout.ai’s technology to help it manage and process health claims with greater efficiency. It hopes this will support continued growth by taking low-value repetitive tasks aways from claims handlers, freeing them up to provide a better service to more customers.
Insurance inflation continues for 21st straight quarter
Global commercial insurance prices increased for the 21st consecutive quarter in the last three months of 2022.
Marsh’s Global Insurance Market found that prices rose four per cent between October and December, after six and nine per cent increases in quarters three and two.
Verisk announces key tech partnerships
Verisk has announced two new tech collaborations to enhance its portfolio of services.
It has teamed up with applied AI company Tractable, which uses computer vision technology to visually assess damage to homes, to accelerate insurance claims processing and home repairs, while a new integration with Encircle’s all-in-one field documentation platform will make the collection of critical property loss information such as photos, notes and measurements easier for field service teams.
Specialty MGA UK acquires ForestRe
Specialty MGA UK has announced the acquisition of ForestRe, a global leader in specialist services for commercial forests and plantations.
Specialty MGA UK is a recently formed managing general agent that focuses on providing additional capacity for specialty lines of business.
CFC strengthens cyber team
Specialist insurance provider CFC has appointed Scott Bailey into the newly-created role of Cyber Underwriting Leader.
Operating in the UK, US, Canada and Australia, CFC is a global leader in the cyber insurance market with nearly £810m in premium.
Crash. Detect. Settle. Digitising the motor claims journey.
We all know how important it is to begin the claims process as soon as possible following a collision – doing so within 24 hours offers multiple benefits and savings. What if you could speed the process up even more? During this showcase webinar session, viewers gain an insight into Solera Mentor by eDriving.
OIC portal subject to government inquiry
The Justice Committee has launched an inquiry into the impact of the whiplash reforms, including the effectiveness of the Official Injury Claims portal.
The reforms were introduced in 2021 to cut the cost of whiplash insurance claims, which had risen to more than £2bn a year. The Ministry of Justice also asked the industry to establish an online claims portal to process smaller claims quickly and easily.
Matthew Maxwell Scott, Executive Director of ACSO, said, “ACSO has led the calls for this inquiry and it’s now essential MPs are able to interrogate the key players, including claimant practitioners, to understand whether the government’s aims have been met, and if not, what improvements and changes can be made.”
Stolen vehicle recovered in just 36 minutes
Aviva’s long-standing partnership with Tracker paid off recently when a customer’s 4×4 was recovered just 36 minutes after it had been reported stolen.
EVs shine bright in gloomy figures
The UK’s used car market fell 8.5% to 6,890,777 transactions last year, according to the Society of Motor Manufacturers and Traders (SMMT). That was 640,179 below 2021’s total and 13.2% off 2019’s pre-pandemic figure.
Allianz updates green parts policy
Allianz Commercial has refreshed its fleet policies to encourage more green parts in repair.
In order to reduce repair times and tackle inflation, it will now prescribe green parts be fitted for non-safety-critical repair when an appropriate part is available. Previously, explicit permission had to be sought for each repair.
Allianz will also guarantee the repairs made in its Approved Repairer Network for as long as the vehicle remains in its customer’s ownership.
Verisk and Hyundai renew data analytics agreement
Verisk has renewed its agreement with Hyundai Motor America to analyse telematics data from Hyundai drivers and share that data with insurers to help improving pricing accuracy and driving standards.
Entries open for Modern Claims Awards
Entries close on 20 February for the newly revamped Modern Claims Awards. Celebrating the best of the claims ecosystem, the awards ceremony will take place at the Rum Warehouse, Liverpool, on 27 April.
The awards line-up includes The ILC New Generation Award.
Tickets will be available once the shortlist is announced on 20 March.
Aston Lark announces Allegiance Insure acquisition
Howden Group insurance broker Aston Lark is acquiring London-based Allegiance Insure, which specialises in financial lines insurance and has also developed specialist fraud insurance for short term lenders.
Carpenters Group signs up to SBTi
Carpenters Group has announced that it has joined more than 4,000 businesses and financial institutions by signing up to the Science Based Targets initiative (SBTi).
Covea achieves ICS distinction
Covea’s Commercial Lines business has secured ServiceMark Accreditation with distinction from the Institute of Customer Service.
Angel spreads wings at Service Certainty
Service Certainty has celebrated the success of its latest apprentice, 16-year-old Angel.
Heather Nye, Operations Manager, said, “Angel successfully completed her apprenticeship alongside her training as a Customer Service Representative for Service Certainty and achieved the highest possible grade, distinction, we are incredibly proud of her achievement.”
e2e Total Loss Vehicle Management has appointed Chris Hulls as Business Development Manager.
Sedgwick has appointed Rebecca Woodward as Technical Delivery Manager.
Laura Rowell has been named Customer Service Improvement Manager at Aioi Nissay Dowa.
Avantia has appointed Stuart Forrester as new Claims Director, completing the company’s current phase of strategic investment in operational capabilities.
Jacinta Jones has joined the Supply Chain Management team at Aviva.Tweet
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