ILC ARTICLE

ILC Breakfast News – Wednesday 6 April

5th April 2022

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Construction materials facing price inflation 

Demand for construction products appears to be easing slightly, while supply remains stable. This is according to the latest statement published by John Newcomb, CEO of the Builders Merchants Federation, and Peter Caplehorn, CEO of the Construction Products Association, and co-chairs of the Construction Leadership Council’s Product Availability working group. 

However, the statement warned that price inflation remains a major concern while rising energy prices continues to impact the market. It also suggested the continued war in Ukraine will disrupt the supply of certain materials, such as pallets, birch plywood and oriented strand board. 

CECA updates rates benchmark 

The Civil Engineering Contractors Association (CECA) has updated the Schedules of Dayworks, a widely accepted benchmark for rates for works undertaken outside the contract. 

CECA normally only updates rates every seven years, but this refresh comes less than three years after the last revision and is in direct response to the removal of the rebate on red diesel for construction plant, which has seen costs spiral.  

Sightcall Sustainability Webinar

Join SightCall and Allianz on Thursday 21^st April at 16:00 BST for their webinar “Quantifying Sustainability: Bridging the Data Gap Between Service Organisations & Carbon Reduction’   

Lenders urged to focus on data  

Mark Blackwell, Chief Operating Officer, CoreLogic, has warned lenders against making ill-considered policy developments based on inaccurate or out-dated data.  

He said that the housing market is in great flux at the moment, with the supply side still hamstrung by post-pandemic challenges despite demand remaining strong. As such, a number of bridging lenders have been attracted into a market that is also impacted by energy efficiency, supply and the use of Modern Methods of Construction.    

Blackwell said, “Lenders need to look at the right data and develop their models to get to better answers more quickly.”  

ClaimsTech

SightCall joins SAP Store

SightCall has announced that its Remote Visual Support for Field Service Management is now available via SAP Store.  

This means that on-site technicians can now use SightCall with SAP Field Service to use human-guided video and self-guided digital process automation flows together to navigate complex field tasks, while also collecting the necessary data to keep asset information accurate and up to date.  

Crash reconstruction tech provider secures Japan deal  

Israeli AI company Nexar has announced a partnership with Japan-based Mitsui Sumitomo Insurance to install its automatic crash reconstruction system into 200,000 cars.  

The Nexar-powered dash cams are able to detect 90% of accidents and immediately create a detailed record and reconstruction of the incident, combining a user-submitted video, dash cam evidence, and additional data including sensor output and location.   

Gradient secures Socotra partnership  

Artificial Intelligence solutions provider Gradient AI has announced a new partnership with Socotra, an insurtech platform which enables insurers to build and launch innovative insurance products quickly and easily.   

As part of the deal, Socotra’s platform will now integrate Gradient AI’s vast dataset comprised of tens of millions of policies and claims, enabling insurers to price more competitively, reduce claims expenses and loss ratios, and improve quote turnaround times.   

Mastercard names new digital chief  

Mastercard has named Chad Wallace as Executive Vice President of B2B Solutions and a member of the company’s Management Committee. He will focus on the digital transformation of corporate payments while overseeing the company’s wider commercial product offering.  

Craig Vosburg, Mastercard’s Chief Product Officer, said, “Chad’s diverse leadership experience across the industry will provide significant value for our customers around the world. His digital products expertise, proven track record and high energy will support our continued focus to drive innovation in the B2B space.”  

Lloyd’s selects latest insurtech partners 

Lloyd’s has named the 11 insurtech start-ups selected to join its Lloyd’s Lab 10-week programme designed to explore and test new innovations. The selections this time focused on solutions geared towards four key areas: decarbonisation and climate change, supply chains, data and models, and claims.  

The start-ups selected are Kita; Persefoni; Kettle; Otonomi; Private Space; Definely; Marmalade; FRISS; InsurX; ClearConnect; and BakerTilly 

Motor

Register Now…

In this special personal injury claims focused webinar we look at what impact last year’s reforms have had on the sector, how the OIC portal is working and what is in store for the future.

Featuring:

Donna Scully – Director, Carpenters Group
Matthew Maxwell-Scott – Executive Director, The ACSO
Samantha Ramen – Director of Market Affairs, Keoghs

Siemens brings Enterprise mobility to employees  

Siemens UK has extended its partnership with Enterprise to offer all its employees 24/7 access to Enterprise Car Club’s 1,400-plus on-street fleet via an automated rental programme.  

Enterprise’s car club is available in 200 towns, cities and communities across the UK, while dedicated car club vehicles are also located at Siemens offices in Lincoln, Hull, Aberdeen, Congleton and Manchester. The partnership has already helped Siemens reduce its pool cars in the UK by a third.  

Autoglass and Belron secure IMI award  

Autoglass and its parent company Belron have been named Partner of the Year at the Institute of the Motor Industry 2022 Awards.  

They were recognised for their commitment to addressing the skills crisis impacting the industry, which has seen them work with the IMI to develop a bespoke IMI Accredited Learning Programme Assessor Award, while UK Autoglass was also heavily involved in creating the new Automotive Technicians Glazing standards.  

Sherwin-Williams completes Sika acquisition  

Sherwin-Williams has acquired the European industrial coatings business of Sika AG. Sika, which manufactures and sells corrosion protection coating systems, and its 115 employees will now become part of Sherwin-William’s Performance Coatings Group operating segment.   

Sherwin-Williams Chairman and Chief Executive Officer, John Morikis said, “This business brings us unique technology and additional manufacturing and services capabilities in line with our strategy of acquiring complementary, high-quality, differentiated businesses that support our growth and profitability targets. The combination of customer focus, talented employees and similar cultures creates exciting prospects for continued growth and success throughout Europe and other regions across the world.”  

Road usage settling into old rhythms 

The impacts of Covid-19 on road usage and driver behaviour is waning, although certain shifts that took place during the pandemic are still in effect.  

According to data released by ERS, there are now about 10% more HGVs on UK roads than before the pandemic and fewer cars, while rush hour traffic remains staggered due to flexible working hours. 

It further warned that fleets are facing challenges in both replacing and repairing vehicles due to a shortage of new models entering the market and lack of repair capacity. 

Wejo Group launches new RTTI solution 

Wejo Group has launched a new Real-Time Traffic Intelligence solution that delivers an up-to-the-minute and holistic view of traffic conditions and safety incidents on roads by tapping into aggregated data derived from millions of connected vehicles. 

Designed for public agencies, civil engineering firms, mapping and navigation providers and logistics companies, the solution enables a real-world impact on road safety and congestion. 

Copart great for Gatsby   

Copart was the headline sponsor of the Make 2nds Count Great Gatsby Gala Ball recently, which raised more than £88,000 for research into secondary breast cancer.   

Make 2nds Count is a charity dedicated to supporting women and men with secondary breast cancer.   

Facing down the tech challenge   

The latest ARC360 webinar focused on vehicle technology, and while electric vehicles and ADAS were inevitably identified as key issues, the fundamental message to come out of the session was that development in this area is as broad as it is fast, with virtually every aspect of the vehicle affected.   

 “I think steering and suspension are just about the only things that haven’t changed in the last 10-15 years,” said Franco Iannotta, Bodyshop Development Manager at Volkswagen Group UK.   

Register now…   

webinARC April 2022: people & skills 2022

In this webinARC we look at the latest trends in recruitment, upskilling and wellbeing from a industry undergoing rapid evolution.   

March sales slip despite new BEV record 

The Society of Motor Manufacturers and Traders has reported that UK new car registrations fell by 14.3% to 243,479 units in March, despite battery electric vehicles enjoying their best ever month for the new registrations. 

Supply shortages contributed to the weakest overall March since 1998, despite 39,315 new zero emission cars being registered – a 16.1% market share and more than all the BEVs registered through 2019.  

Meanwhile, the UK light commercial vehicle (LCV) market fell 27.6% to 40,613 units. 

Industry News

Zurich sets 2030 net-zero deadline 

Zurich Insurance Group has brought forward its target to achieve net-zero emissions from 2050 to 2030. 

Last year it introduced a raft of initiatives to cut emissions from its operations, and has also now signed a range of carbon removal agreements with three suppliers of nature-based solutions to remove unavoidable emissions from the environment, InterEarth, Bio Restorative and Oregon Biochar Solutions, making advance payments to support their further development and scale.  

Davies broadens expertise with Worksmart acquisition

Specialist professional services and technology business Davies has acquired Worksmart.   

The Worksmart product range enables organisations to track and manage employees’ competence, capability and training needs, manage complaints, and assess the quality assurance of advised sales processes using automated case allocation.     

ILC welcomes Insurance DataLab onboard as data partner   

Insurance DataLab (IDL) has joined ILC as an ‘insights and data partner’.   

The move sees the new UKGI market intelligence and research service partner with ILC across its portfolio of offerings to provide insights and data to the ILC community.   

Specifically, IDL will support ILC with exclusive content across both its digital content and in-person events.   

Verisk launches Climate Advisory Council  

Verisk has created the Verisk Climate Advisory Council to assist organisations understand the impacts of climate change and develop robust resilience and sustainability protocols.  

The Council will provide tailored guidance on Verisk’s climate change solutions specific to each members’ specialty area, with ongoing research by council experts ensuring Verisk remains at the forefront of climate change research to support its continued development of industry-leading products and services.   

Insurers call for tighter e-scooter laws 

Leading insurance bodies have urged the government to introduce legislation to tighten rules around e-scooters if their legal use is to extend beyond government trials and on private land. 

There were 882 accidents involving e-scooters in the year ending June 2021, with 931 casualties. In response, insurance groups have asked for tighter regulations around liability, enforcement and safety standards.  

Chris Jones, IUA Director of Legal and Market Services, said, “Illegal use of e-scooters currently presents a significant risk to riders, pedestrians, and other road users. It is essential that an appropriate and effective regulatory system is introduced at the earliest opportunity.”  

Aviva names new CFO 

Aviva has appointed Charlotte Jones as Chief Financial Officer and Executive Director. She will join on 5 September having previously held the roles of Chief Financial Officer of RSA Insurance and Interim Chief Executive Officer of the RSA UK & International business. 

Amanda Blanc, Aviva Group Chief Executive Officer, said, “This is a really excellent appointment for Aviva. Charlotte is a highly experienced CFO with an impressive track record across the insurance and asset management industries. She is an exceptional addition to Aviva and will play a central role as we accelerate our performance and grow.”