ILC Breakfast News – Wednesday, 26 July 2023

Have your say on digital transformation in claims and enter a prize draw to win a £200 Amazon voucher!

Restore Digital is launching a new research project exploring the role of emerging technologies in the claims journey – they’re looking for your views on the technologies that will have the greatest impact, the key drivers of adoption and the challenges you’re facing in achieving a successful outcome for your digital transformation projects.

All survey respondents who provide contact details can opt to be entered into a prize draw to win a £200 Amazon voucher and you will also get pre-release access to the whitepaper. The survey takes less than 5 minutes to complete.

Take the survey here.

ILC announces ClaimsTech – The Pitch finalists 

Seven claims technologies have made it through to ILC’s inaugural ClaimsTech – The Pitch event with 13 insurance claims experts ready to cast their vote on which they believe may have the greatest impact on the sector.

ClaimsTech LIVE marketplace taking shape

ClaimsTech LIVE’s new marketplace continues to take shape with 12 leading claims technologies currently set for visitors to get hands-on and interactive with.

Supported by Headline Sponsor CoreLogic; Gold Sponsors Solera Audatex, Verisk and Entegral – who will each be giving on-stage interactive demonstrations of their technologies during the event; along with Silver Sponsor Synergy Cloud – ClaimsTech LIVE this year sees the addition of a marketplace arena for visitors to get up close and personal with some of the sector’s leading claims technologies.

AI and insurance

S&G Response has considered the impact of AI on the insurance industry, examining its impact on claims processing, fraud detection, vehicle damage assessment and customer service.

Key business lines to come under MGA spotlight

ILC’s MGA Claims Conference, in association with the Managing General Agents’ Association (MGAA), is set to unravel the stories behind three key lines of insurance business.

Taking place on 28 September at 155 Bishopsgate, London the event – supported by Gold Sponsors: Carpenters Group, Claims Consortium Group, Enterprise, Pulse and Wiser Academy; Silver Sponsor: EDAM Group; and Advance Exhibitors: Accident Credit Group, Alphatec Ltd, Broker Direct plc, Caysure Digital, CRIF Decision Solutions Ltd, DAC Beachcroft Claims Ltd, Richfords Fire and Flood, Synetics Solutions and Qdos Assistance – will explore how MGA activity is evolving in motor; home and property; and employers liability and public liability (EL/PL) business lines.

Loadsure launches cargo solutions

MGA Loadsure has launched two new products to enhance its holistic freight protection portfolio.

Powered by AI, Danube and Huron are powerful tools for brokers enabling them to produce annual quotes at unprecedented speed.

New financial lines focused MGA launches in UK

Financial lines MGA Kayzen Specialty has been launched in the UK with a £10m capacity backed by Accelerant Insurance Europe.

Artex Risk Solutions joins MGAA

The Managing General Agents’ Association has welcomed its newest member, Artex Risk Solutions, which provides commercial outsourcing solutions to the insurance sector.

Key names support EMCC agenda

ILC’s Exclusive Motor Claims Conference (EMCC) 2023 has received the support of some of the leading brands and key influencers within insurance claims as it continues to promote its ‘better tomorrow’ vision.

Premium prices soar by 40%

Motor insurance premiums have rocketed by a record 40% in the last year, with drivers aged 17-20 seeing policy prices surge by £903 to £2,414.

According to the latest Confused.com Car Insurance Price Index in association with WTW, premiums are now at their highest levels since 2006.

Vella Group urges intuitive future

The Vella Group has urged businesses to analyse their operational resilience and ensure they are fit for the future. Its GT Global estimating platform integrates with partners in all sectors including green parts, salvage, AI, bodyshop management systems, data analytics, subrogation, and invoicing.

SYNETIQ supports low-carbon projects

SYNETIQ is working with international carbon reduction specialists Highland Carbon to finance projects around the world to support the transition to a low-carbon economy.

The projects complement SYNETIQ’s long-term decarbonisation plans, which also include switching to renewable energy, electrifying transport and cutting energy use across its estate.

Copart announces significant expansion

Copart UK will expand vehicle storage capacity at its Wisbech Operation Centre site by 50% after securing planning permission.

This expansion, which follows the launch of a new site in East Kilbride and further investment in its Bristol Super Centre and existing Operation Centres, is part of Copart’s extensive reinvestment strategy which includes a programme of land acquisition and continuous improvement at existing sites.

Enterprise tackles US skills gap

Enterprise Holdings is tackling the skills gap in America by announcing that the Metropolitan Community College in Nebraska will now offer its Collision Engineering Programme (CEP).

CEP is now available in seven educational institutions across the US as Enterprise tackles the expected shortfall of 110,000 technicians by 2026.

Crawford assesses subsidence surge risk

Crawford has assessed the risk of another subsidence surge this year as ‘mid amber’, based on the spring weather and MORECS measure of soil moisture.

Gelder Group celebrates further emissions cuts

Gelder Group has announced that it reduced its carbon emissions in 2022 in line with its vision of creating a sustainable future for the new generation in construction.

Independent sustainability certification body Planet Mark confirmed that Gelder Group reduced emissions by 1.8% across all activities.

Successive subsidence surge on the radar

Sedgwick is warning of the potential for another subsidence surge this year, after reporting lower than expected rainfall in May followed by the hottest June on records.

In its latest edition of Subsidence Watch, it revealed that rainfall in May in the North London area was only 71% of the monthly average, and below the long-term average in all regions of the country.

Jet Stream and its impact on subsidence

Geobear has considered the impact the Jet Stream can have on subsidence claims in the UK. The Jet Stream is a high-speed, narrow air current found in the upper atmosphere and has a significant impact on the weather patterns in the UK.

Barbie’s dream house valued

Celebrating the newly-released Barbie film, CoreLogic has looked back through the decades to estimate the price of the original Barbie house.

The original Malibu property would have been worth £60,000 in 1962, rising to £2.2m today.

AXA enhances Green platform for Gamma contract

AXA has signed a contract with Irish tech company Gamma to enhance its Go Green web platform. The platform helps homeowners in Ireland create a more sustainable home, save on energy bills and reduce their carbon footprint.

Restructure creates Allianz Commercial

Allianz Global Corporate & Specialty (AGCS) and Allianz Property & Casualty will now trade as Allianz Commercial.

Allianz Commercial will operate in 11 regions, bringing together the current six regional units of AGCS with Allianz’s national Commercial businesses.

ABI gives insurance a human face with new campaign

The Association of British Insurers has launched a new campaign to emphasise the principles of insurance and help policyholders understand what their premiums pay for.

The campaign, Dad Comes Home, tells the story of a father recovering from a serious road traffic accident.

Claim Technology sets two-second claim record

Digital insurance company Lemonade has set a new record in insurance claims after settling and paying out inside two seconds.

This was achieved on Claim Technology’s platform, which uses artificial intelligence and behavioral economics to assess the claim, check policy conditions, perform anti-fraud checks, and approve the claim.

MoJ launches MedCo consultation

The Ministry of Justice (MOJ) has launched a consultation ‘to consult on a number of medico-legal reporting issues related to the MedCo process, fixed cost medical reports and the implementation of the OIC service.’

The ‘Revisions to the Medical Reporting Process for Road Traffic Accident Claims’ consultation also contains proposals for an increase in a number of fees, broadly in line with SPPI inflation.

Zego has named Ian Kershaw as Director of Claims and Fraud.

Carpenters Group has appointed Ellie McLauchlan as Legal Advisor in its New Claims Team.

Claudio Gienal will move from CEO of AXA UK to Chief Transformation Officer for AXA European Markets in September.

Repairify has promoted Steven Mullen to UK operations manager to help drive forward the delivery of its growth strategy across Europe.