ILC ARTICLE

ILC Breakfast News – Wednesday 28 September

29th September 2022

Motor 

ILC reveals Exclusive Motor Claims Conference agenda 

Insurtech influence, personal injury evolution and the rapid advancement of the repair sector are just some of the key themes for ILC’s Exclusive Motor Claims Conference taking place on Thursday 6 October. 

Making the right connections 

Connectivity and integration are the keys to bringing the disparate technologies within automotive claims together and making them work for repairers, insurers and customers alike. 

That was the message of the latest webinARC, which addressed the role technology can play in improving efficiencies and streamlining the customer journey. 

AutoRaise Rally set to break £200,000 barrier 

The AutoRaise Rally is on track to break the £200,000 fundraising barrier after 62 teams and 160 people took part in the U-Pol-backed three-day event last week. 

Top honours for Green Parts Specialist 

The Green Parts Specialist was named Technology Partner of the Year Award (ESG) at the Insurance Times Tech and Innovation Awards.  

It was recognised for its partnership with Ageas, which enables the use of more recycled and reclaimed parts in the repair. 

Solera brings Fleet Solutions to European market 

Solera is introducing its consolidated Fleet Solutions offering to Europe.  

Solera Fleet Solutions brings together intelligent but fragmented data to provider fleet managers with single source access to the information needed to retain drivers, reduce risk and boost productivity.  

Carpenters applies the Brake  

Carpenters Group has announced that road safety charity Brake has been named an official corporate partner.  

Thieves target lucrative car part market 

LV= has reported that car part theft is on a sharp rise, with stolen steering wheel claims surging by 133%, with the average claim (including airbags) at £7,000. 

Caution called for ahead of e-scooter rollout 

As 31 regions around the UK trial the usage on e-scooters on public roads, David Nichols, Chief Claims Officer at Zurich, has called for a safety-first approach and warned there could be negative implications for policyholders and insurers as well as positive ones. 

Zego reveals Academy success 

Zego has reported that VanUp saw claims numbers fall by 70% in June after it joined its Risk Management Academy. Meanwhile, average claims costs fell by 48% at the same time. 

Home 

Reducing leaks more than just a pipe dream 

Claims Consortium Group has warned that the extended dry spell during the summer could continue to have an impact on claims volumes through the winter. 

Dried and tested 

MA Group and REVIVAL have introduced TREVOR, a new solution that they believe can cut drying times in homes by an average of 21 days by assessing levels, guiding drying methods and alerting technicians if results are not as expected. 

It is estimated this could save an average of £600 per property claim.  

ClaimsTech   

Guidewire awards latest PartnerConnect specialisations 

Guidewire has announced 14 specialisations have been awarded to nine Guidewire PartnerConnect Consulting partners. 

Those achieving specialisations in the fourth quarter of Guidewire’s fiscal year 2022 are: Alchemy: Cloud Ready – EMEA / CGI: BillingCenter; PolicyCenter; and InsuranceSuite – EMEA Global Delivery / Cognizant: Cloud – AMER Global Delivery / NXT: BillingCenter – AMER / PwC: Cloud – EMEA Global Delivery / Stratus: Cloud Ready – AMER / TCS: Digital – EMEA / ValueMomentum: Testing Standards / Zensar: DataHub; DataHub+; PolicyCenter; InsuranceSuite – AMER. 

Pie raises further $315m funding 

Pie Insurance, an insurtech specialising in workers’ comp insurance for small businesses, has raised a $315m Series D round of funding.  

The round was led by Centerbridge Partners and Allianz X, the digital investments arm of Allianz Group. White Mountains Insurance Group also joined as a new investor, and previous investors Gallatin Point Capital, Greycroft, Acrew Capital and others also participated in the round.  

The Series D fundraise more than doubled Pie’s total capital raised to over $615m. 

Geely expands Mobileye collaboration 

Mobileye and Geely Holding Group have expanded their ongoing collaboration for advanced driver-assistance systems (ADAS) and autonomous vehicle technology.  

The announcement follows the successful launch of the ZEEKR 001 premium electric vehicle (EV) with Mobileye SuperVision technology, with more than 40,000 vehicles already on the road and ahead of an over-the-air (OTA) update that will unlock SuperVision’s full capabilities. 

Industry News  

CoreLogic enhances weather warning expertise 

CoreLogic has expanded its agreement with AccuWeather to provide the insurance industry with even more enhanced extreme weather notifications and risk assessments.  

AkzoNobel on course with largest China hub 

AkzoNobel is on track to complete what will be its largest logistics hub in China by the middle of 2023. The new €10.3m facility will include nearly 5,000 solar panels that will generate 1.6 million kWh of electricity.   

Government extends support package to businesses 

The government has announced a £40bn support plan to help businesses with rising energy costs. 

By fixing wholesale prices at £211 per MWh for electricity and £75 per MWh for gas it hopes to halve energy bills businesses face this winter. 

“Please help if you can” 

Thatcham Research’s Chief Technical Officer Richard Billyeald is embarking on a four-day journey around Europe to deliver aid support to Ukraine refugees.  

He will also provide transport back to the UK for displaced women and children in a Thatcham Research supplied and insured mini-bus. 

People 

Claims Consortium Group has promoted Rob Stewart to the new position of Head of Sales, responsible for developing relationships with new clients across the whole group, including Synergy Cloud and WeatherNet. 

ERS has named Harriet Ackland as new Commercial Underwriter while Matt Merry has been appointed as Senior Agriculture Underwriter. 

Insurance premium finance provider Premium Credit has appointed Mark Coffey as Personal Lines and E-Trade Director.