ILC Breakfast News – Wednesday 22 March 2023
21st March 2023Tweet
Capita expert joins New Generation line-up
James Lambert, the Global Director of Talent Acquisition at consulting, transformation and digital services business – Capita will provide a keynote session at ILC’s New Generation in Claims event.
The event, headline sponsored by Wiser Academy along with fellow sponsor Enterprise Rent-A-Car, takes place at etc.venues Manchester on Wednesday 26 April and will serve to highlight the importance of talent attraction, retention and upskilling within the rapidly evolving insurance claims sector.
Industry gears ups for Subsidence Surge specialist conference
ILC hosts its Subsidence Surge specialist conference at the Manufacturing Technology Centre, Coventry, tomorrow (23 March), headline sponsored by Optera Structural Solutions.
Industry leaders from CEOs to Claims Directors to Building Contractors will consider the size of last summer’s surge, how the industry is handling capacity challenges, and what role technology can play in effective claims management.
Bill set for 2022 subsidence claims
The Association of British Insurers has revealed that the industry can expect to pay £219m in subsidence claims made last year.
Last summer’s heatwave led to 18,000 separate claims, which equates to one every 15 minutes in the second half of the year.
Industry Interview: Alex Finch, Commercial Director, Optera Structural Solutions
Ahead of the ILC Home & Property Claims Subsidence Surge specialist conference, taking place at the Manufacturing Technology Centre, Coventry, on 23 March, we speak to headline sponsor Optera about how it handles complex claims to improve customer service and reduce costs.
Mastercard announces cybersecurity acquisition
Mastercard has acquired cloud-based cybersecurity company Baffin Bay Networks, which uses AI-technology to filter internet traffic and prevent attacks.
The deal will enhance Mastercard’s multi-layered approach to cybersecurity.
IGI adds to energy portfolio
International General Insurance has acquired Norway-based MGA Energy Insurance Oslo (EIO).
IGI Chairman and CEO Wasef Jabsheh said, “The successful completion of our acquisition of EIO allows us to expand the existing book of energy and construction business and leverage our relationships to broaden our presence in the Nordic markets across other business lines.”
Somerset extends AX partnership
Somerset Bridge Group has extended its accident management partnership with AX Automotive.
The enhanced collaboration will see AX Automotive, which has handled Somerset Bridge’s entire non-fault outsourced requirements for three years, also now manage claims handling, vehicle rental, repair management and total loss.
Specialist cyber MGA launches in London
A new MGA specialising in cyber insurance cover has launched in London.
With backing from AXA XL, Intangic offers cyber insurance cover up to £12.5m for large public corporations headquartered in the UK.
EU car market driving forward
The EU passenger car market has continued its strong start to the year, growing by 11.5% in February to 802,763 units. According to data from ACEA, almost 1.6 million cars have now been registered in the EU market this year.
Meanwhile,battery electric and hybrid cars now represent 12.1% and 25.5% of the market respectively.
Windscreen repair standard updated
BSI’s new regulations and recommendations for the code of practice in automotive windscreen repair comes into force this month following a 12 month grace period.
Under the standards BS AU 242b:2022, which replaces the previous BS AU 242a:1998, the new regulations include changes tothe type and size of damage that can be repaired, the area on the windscreen in which repairs can be made, procedures for the repairer, steps to assess repairs, and reports and records to be retained post repair.
Insurers urged to increase support
A new report by Lloyd’s has called for greater collaboration between insurers and the electronics industry as it faces continued challenges around semiconductor supply.
The report, Loose connections: Rethinking semiconductor supply, revealed that insurers need to work more closely with electronics businesses to address protection gaps, with81% admitting a lack of insurance solutions was among the greatest challenges in the medium term.
GT Motive and Autoflow reveal system integration
GT Motive and Autoflow have announced a new collaboration to integrate their systems.
This will enable bodyshops to benefit from automatic price updates shared across both systems automatically, saving time and reducing the possibility of error.
Wejo announces European expansion
Smart mobility solutions provider Wejo Group has announced its Road Health solution is now available in Europe.
Road Health aggregates data insights across roads to help governments shift from reactive to proactive road safety and make informed infrastructure decisions.
New Generation in Claims Interview: Lauren Dunne, Training and Audit Manager, Carpenters Group
“My length of service and passion for the job is something that makes me incredibly proud. During my time at Carpenters Group I have expanded my knowledge and experience across the different insurance, claims and legal services we provide.”
FCA issues ESG warning
The FCA has found that the overall quality of ESG-related disclosures is poor, and highlighted a number of areas where administrators are failing.
It reported that not enough detail on the ESG factors are being considered in benchmark methodologies, underlying methodologies for ESG data are not always accessible or clearly presented, and not all ESG disclosure requirements are being implemented.
Hiscox unveils new underwriting academy
Specialist insurer Hiscox UK has launched its underwriting academy following a successful pilot at the end of last year. The Hiscox Underwriting Academy provides hands-on technical and professional development for high performing talent.
Sedgwick calls for flexible resource management
Sedgwick is encouraging businesses to adopt more flexible staff management solutions to reduce burnout and improve engagement.
Ruth Leggett, CEO, Ireland, and Angela Hornby, director of capability, Australia, point out that organisations adopt resource solutions to manage catastrophes, but suggest they should implement similar policies to manage workload peaks and absences.
Consumer Intelligence calls for greater Consumer Duty focus
Consumer Intelligence has urged businesses to step up preparations for the introduction of Consumer Duty regulations on 31 July. It says insurers must first understand what the Consumer Duty requirements are and then assess their current compliance status, before prioritising the areas that need immediate attention.
It also suggests engaging with the FCA to showcase commitment to meeting the new regulations.
T-Cup calls for brew of employee measures
T-Cup has warned that government plans to implement annual health checks for UK workers in a bid to tackle long-term sick leave and reduce the number of economically-inactive people do not go far enough.
The Treasury will also introduce subsidies to SMEs offering occupational health services and basic health appraisals, but T-Cup says it’s also critical to prioritise corporate wellbeing strategies that reduce stress and burnout.
ILC Day 2023 raises over £12,000 for Rainbow Trust
ILC Day 2023 has helped raise over £12,000 for the Rainbow Trust Children’s Charity.
The annual ILC Day, sees organisations from across the insurance claims sector provide their support to the Rainbow Trust by wearing red, committing to fundraising activities and donating to the charity.
Liverpool Victoria Financial Services Limited (LV=) has appointed David Rogers as an independent non-executive director.
Will Paskins has been appointed Head of Digital Trading & Partnerships, Zurich Municipal at Zurich Insurance.
Enterprise Holdings has named Gavin Williams as Repair Operations Manager UK & Ireland.
Ryemarc, the holding company for Motofix Accident Repair Centres, has appointed Gethyn Davies as Executive Director.Tweet
Motor Claims News
ILC Breakfast News – Wednesday 31 May 2023