ILC ARTICLE

ILC Breakfast News – Wednesday 15 March 2023

14th March 2023

Support grows for New Generation in Claims initiative

Support continues to grow for ILC’s New Generation in Claims initiative with an increasing number of insurers showing their backing for this industry-first event which aims to explore how the sector is shaping-up to ensure it has the skills and resource to manage claims of the future.

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Subsidence Surge event plans for completion

The final session at ILC’s Subsidence Surge specialist conference will focus on planning towards completion and hear thoughts from some of the sector’s leading experts.

The panel discussion: ‘Moving on – how do we plan towards completion’ will consider data usage, technical benefits, capacity to prepare and repair, and the policyholder.

ILC partners set their stalls out

As ILC gears up for another full year of conferences and events, we are encouraging exhibitors to push the creative boundaries even further in 2023 to capture the imagination of delegates and create a real buzz around their stands.

Innovation and interaction have always been fundamental to ILC, and our events provide the perfect platform for partners and sponsors to promote their brands and showcase their technologies to the ILC community and wider insurance sector.

Find out how Perfect Group’s mini lorry has been a hit at a number of events.

Industry interview: Patrick Clark, Head of Surveying and Field Services, Davies

Subsidence is becoming an ever-increasing consideration for insurers as winters get drier and summers hotter.

Here, we speak to Patrick Clark, Head of Surveying and Field Services, Davies, about the recent surge in subsidence claims, and how Davies is supporting the industry manage capacity.

Gallagher Bassett celebrates Green Heart Standard

Gallagher Bassett has achieved the LV= Green Heart Standard, underlining its commitment to social and environmental sustainability.

The Green Heart Standard includes six key principles: achieving PAS 2060; promoting electric vehicles; using green parts in repair; promoting apprenticeships; supporting diversity and inclusion; and developing mental health awareness.

Aviva makes £100m property pledge

Aviva will invest £100m into UK real estate and infrastructure projects through a new joint venture with property developer Stories.

The investments will focus on projects such as affordable accommodation, key worker accommodation and university buildings.

ClaimsTech

Claims times cut by 70% with digital tool

Davies has introduced its enhanced claims management tool, E-claim, which uses automation to reduce claims life cycles by up to 70%.

The solution allows customers to submit their claims online, check policy coverage, upload documents, pay excess, view a settlement offer and provide details to receive payment.

RightIndem and Imburse partner

Payment platform provider Imburse has become a strategic partner of claim reporting platform RightIndem.

RightIndem’s cloud-based software is designed to handle the First Notice of Loss (FNOL) transaction, connecting clients to an ecosystem of partners to perform validation, decision and fulfilment services.

MGA

HB Underwriting unveils digital solution

Malton-based MGA HB Underwriting has launched its new quote and buy platform through bluescape.

The solution has been introduced to boost productivity and efficiency while improving automation between the MGA and the broker.

Nirvana launches in London

Specialty MGA Nirvana has continued its European expansion by launching in London following the acquisition of media, tech and cyber underwriter Nirvana Risk Partners.

It acquired the business from the MGA formation platform Castel Underwriting Agencies in a management buyout.

Motor

Gemini opens eighth LV= sole site

Gemini Accident Repair Centres has launched a new site in Luton after acquiring Michael G Motors.

The new business will operate from a new 8,500 sqft site with the capacity to repair 1,300 vehicles per year and becomes the eighth LV= sole site.

S&G Response partners GT Motive

A new partnership will see GT Motive offer its estimating platform to S&G Response’s network of 325 insurance-approved repairers and 58 HGV repairers.

The GT Motive pay-per-estimate solution means repairers don’t have monthly fixed costs and can also avoid VIN fees, imaging fees, service fees and transactional fees.

SMMT warns of UK lag in EV race

The Society of Motor Manufacturers and Traders (SMMT) has called for greater government backing for the automotive industry’s transformation to electric vehicles.

It says greater political and economic support for EVs in other countries is threatening the UK’s position as a leading destination for future automotive investment.

EVs to drive growth in global car market

A new report by Mordor Intelligence has predicted that the global passenger car market will grow at an annual compound growth rate of 2.9% between 2023 and 2038.

The report, Global Passengers Car Market, has identified electric vehicles as the fastest growing segment and will account for about 26% of all new car sales by 2030.

Audatex to update paint tables

Audatex has announced that its paint material tables will be updated for Irish customers on or around 24 March.

Based on data supplied by paint manufacturers, it estimates an average increase of 8.9% on paint and material prices.

Industry News

Market pressures driving up claims costs

Sedgwick has revealed the impact price increases across all industries are having on compensation, motor and property claims.

It has found that motor claims costs have been driven by an 11% rise in repair costs and a 40% rise in used car values, while labour shortages, supply chain challenges and increased fuel prices have contributed to a 9.5% increase in residential maintenance and repair costs and a 14.3% rise in insulation materials.

ABI calls for IPT cuts

The Association of British Insurers is calling for urgent changes to health insurance tax and pension tax relief systems to help insurers support employers and employees and drive economic growth.

In its submission to the Spring Budget, it recommends cutting the rate of insurance premium tax (IPT) on health insurance, introducing a pensions tax relief system that incentivises work and savings, and cutting the rate of IPT on buildings insurance for high-rise, high-risk buildings with dangerous cladding while the property awaits remediation.

PwC announces People Force acquisition

PwC has acquired Wellingborough-based people technology consultancy People Force, which supports businesses introducing sophisticated people technology.

The deal is part of PwC’s technology alliance strategy and will see 50 employees join its People and Organisation team.

Industry interview: Daniel Chesney, Owner & Director, OnyxPDA

In a sector as diverse as ours, partnerships are essential to ensure continued growth in terms of innovation, support and service. No one company can expect to have all the skills and knowledge necessary to make the most of all the opportunities available.

Here, we speak to OnyxPDA Owner and Director Daniel Chesney to find out more about his company, and how it is helping clients in the automotive claims industry to fulfil their potential.

People

Davies has appointed David Leedham to the role of Group Chief Transformation Officer to drive international growth, innovation, and digital transformation.

Kayleigh Mathieson has joined Carpenters Group as Legal Advisor – Litigation.

Criterion Adjusters has appointed Helena Evans as its Managing Director.