ILC Breakfast News – Wednesday, 5 July 2023
5th July 2023Tweet
CMA reverses Copart/Hills decision
The proposed acquisition of Hill Motors by Copart looks set to go ahead after the Competition and Markets Authority provisionally cleared the deal.
It originally concluded in May that the acquisition could ‘substantially’ reduce competition in the UK vehicle salvage sector but after reviewing evidence from customers, it has reversed these findings.
Steer Group completes Apollo, Balgores acquisition
Steer Automotive Group has accelerated growth plans by acquiring the combined businesses of Apollo Motor Group and Balgores Motors, which together total 32 repair locations, £90m turnover and 700 staff.
Plans are already in place to continue to Steer Group’s development with a number of new sites planned over the second half of the year.
What’s shaping claims and repairs in 2023
The automotive repair and motor claims landscape has been shifting substantially for the last four years. Covid was a key driver in this transition, with inflation, skills shortages and supply chain challenges – not to mention changing customer habits – only accelerating the evolution.
In this article, we speak to ILC partners e2e Total Loss Vehicle Management and Repairify to find out how they are adapting to meet new demands and satisfy customers.
FCA order DLG to review TL claims
The Financial Conduct Authority has ordered Direct Line to re-examine all total loss claims payouts over the last five years after the insurer admitted to underpaying policyholders. It has now been ordered to identify customers who have not received fair compensation and ‘provide them with proper redress.’ The insurer has advised it does not expect the review to material financial impact in 2023.
Gemini achieves IMI Approved Centre Status
Gemini has secured ‘Approved Centre’ status from the IMI, paving the way for the repair group to create its own training development, qualifications and CPD programmes.
This follows several months of collaboration to ensure Gemini’s training standards meet IMI-approved levels.
Sedgwick turns spotlight on EVs
Sedgwick has examined the current and future impact of electric vehicles on customers and companies in a new podcast featuring Barry Porter, Claims Quality Team Lead, and Jarred Eckman, Quality Assurance Specialist.
Inshur sets sights high with cloud-based solutions
On-demand insurance provider Inshur is working with tech company SADA to develop cloud-based solutions that will enable it to bring products to market more quickly and leverage AI to automate processes and support more self-service options.
Alert drivers keen on NAPs
More than a third of drivers (36%) who have never taken out non-annualised motor insurance policies would consider doing so in the next year. Only about 15% of drivers currently use these policies, but more than 90% are aware of them.
DAC Beachcroft saves Clegg Gifford £7m in fraudulent claims
DAC Beachcroft’s counter fraud team has helped Clegg Gifford & Co reject more than 1,000 fraudulent motor trade claims in the last four years, saving them over £7m in payouts.
Gemini celebrates Top 100 hat-trick
Gemini Accident Repair Centres has been named among the top 100 Apprenticeship Employers for 2023, earning a place on the Department for Education’s prestigious list for the third year running.
New Generation: Samantha Breden
Innovation and technology are the industry’s greatest strengths, according to Samantha Breden, Senior Account Manager at Perfect Group, who discussed her current role and how she sees it evolving in the latest ILC New Generation interview.
New Generation: Liam Hall
Multi Track Legal Advisor – Trainee Solicitor, Carpenters Group Liam Hall believes the Official Injury Claims Portal will remain the industry’s biggest weakness until certain payment issues are resolved. He says at the moment claimants are suffering from unnecessary but avoidable delays.
CoreLogic announces Databricks integration
CoreLogic has announced a strategic integration with Databricks Marketplace.
As part of the collaboration, more than 30 CoreLogic products will be available through the Databricks Lakehouse app, enabling insurance and mortgage professionals to improve decision-making based on CoreLogic data and insights.
Long answer for CCPI
The CPA has launched the Code for Construction Product Information (CCPI), with Amanda Long named new CPI Chief Executive Officer.
Pitch perfect for ClaimsTech
More than a dozen experts have already been confirmed for ClaimsTech – The Pitch, which will take place during this year’s ClaimsTech conference on September 14 at etc venues, London.
The Pitch will see leading insurers and investors assess some of the newest start-ups and scale ups.
It will be followed by ClaimsTech LIVE, where attendees will be able to get hands on with the latest technologies influencing the sector.
Countdown continues to Consumer Duty
The FCA has published new guidelines to help companies prepare for Consumer Duty, which comes into effect on 31 July. It has listed 10 key questions for business leaders to consider.
Meanwhile, ILC plans to turn its attention to compliance in the near future as it too looks to support the sector in areas such as Consumer Duty.
Streamlining supply with AI
S&G Response believes AI can help business overcome their supply chain challenges.
It says that demand forecasting using historical data, market trends, and other external factors, combined with inventory management and production planning can ensure companies reduce disruption caused by delays in supply.
Insurance industry more inclusive than ever
The insurance industry is more inclusive and collaborative than ever before, enabling broader conversations and improved outcomes.
That is the view of Vicky Rowlay, National Director – Business Transformation at Arch Insurance (UK), who also predicted that AI and machine learning would revolutionise the underwriting process over the next five years.
A Wiser approach to training
In the latest ILC podcast, Crescens George, CEO of Wiser Academy, shares his passion for training and development and discusses how best to recognise and nurture talent.
Wiser Academy have launched an exclusive course designed specifically for ILC members who are looking to provide a solid start to their newly employed or soon-to-be-employed staff in the claims industry. This two-day live virtual training course covers a wide range of topics essential to the claims industry.
DAC Beachcroft put home and motor claims in focus
DAC Beachcroft has published its latest podcasts, considering claims in the home and motor sectors.
In the most recent episode of its credit hire mini-series, Helen Mason, Head of Vehicle Hire and Damage, Kelly Sutherland, Associate and credit hire lead for Scotland, and Michael McLarnon, Associate and credit hire lead for Northern Ireland, consider claims in their regions.
Meanwhile, Claire Moore, Chris Baranowski and Emma Bowens from DAC Beachcroft’s Safety, Health and Environment Team identify the top three things to expect in the health and safety arena in the second half of 2023.
Home and motor insurers under-serving customers
The Financial Conduct Authority has warned home and motor insurers to improve their treatment of vulnerable customers and customers claims processes.
After an increase in complaints about insurance claims, an FCA review found examples of lengthy complaints handling times and inadequate settlements.
WTW announces Clyde & Co collaboration
WTW has announced a collaboration with global law firm Clyde & Co which will pair WTW’s climate risk analytics with Clyde & Co’s globally integrated team of climate liability experts.
The enhanced partnership will enable WTW to offer clients even greater regulatory and risk advice in terms of ESG journeys.
Nikki Nagra has joined Edam Group. She will take on responsibilities for claims and cash collection operations.
Bec Jones has been appointed Claims Director at Action 365.
The Institute of the Motor Industry has appointed Daksh Gupta, Vice President of BEN, as a Vice President.
The Association of British Insurers (ABI) has appointed Tim Bailey, UK CEO, Zurich, as new President. Meanwhile, Clare Bousfield, Chief Executive, Retail and Savings, M&G, has become Deputy President.
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