ILC ARTICLE

ILC Breakfast News – Wednesday 7 December

6th December 2022

ClaimsTech

ClaimsTech 2022 signs off with another success

Many of the most influential thinkers in the claims sector met at Village Underground, Shoreditch last week, for ILC’s latest innovative event.

ClaimsTech Live, themed, ‘Show me happy customers (and the money!)’, concluded a full schedule of activity during 2022 which included both live and digital events as well as an ongoing series of interviews with ClaimsTech 2022 partners.

Insurtech expert joins ILC

Insurtech expert Jonathon Valentine has joined ILC to support the continued development of its ClaimsTech proposition.

Jonathon, who continues as founder and CTO at thingco and Board Member at Insurtech UK, will help lead the ongoing evolution and growth of ILC’s ClaimsTech offering.

ClaimsTech Interview

Watch the latest ILC ClaimsTech interview with Leah Davies, Director, Client Success at CoreLogic.

SightCall unveils latest upgrade

SightCall has upgraded its platform to increase capabilities and make it more user-friendly.

The updated version now includes a Sustainability Dashboard to support company’s carbon reduction targets, while administrators will also receive weekly emails with statistics about agent calls and CO2 savings.

Meanwhile, the platform also features an offline mode to support technicians in remote areas with low connectivity.

Motor

Queen of the Jungle football star set for Motor Lunch

Winner of multiple honours with Everton and Manchester City; part of England’s UEFA Women’s Euro 2022 championship winning squad; two-time Olympian; and now Queen of the Jungle – football supremo, Jill Scott MBE will be special guest the ILC Motor Networking Lunch 2023.

Sabre cuts its own path

Less is more for Sabre, which is flourishing within the motor insurance sector by doing things its own way.

And while its business strategy may be counter-intuitive to some other players in the arena, there aren’t many that wouldn’t be envious of a combined operating ratio (COR) that hovers around 80%, come what may.

MoJ publishes OIC year-one figures

The Ministry of Justice has reported that 255,000 claims were started via the Official Injury Claims portal in its first year, with 91% of them represented. Mixed injuries accounted for 62% of claims.

Meanwhile, just 11% of claims have so far been settled.

AkzoNobel strengthens coatings portfolio

AkzoNobel has acquired the wheel liquid coatings business of Lankwitzer Lackfabrik to enhance its performance coatings portfolio.

Audatex updates AEG with new data release

Audatex has announced that 13 new and 61 updated model sheets have been added in the latest AudaEnterpriseGold data release.

Meanwhile, Audatex Support Desk is open (8am-6pm) up until 23 December, from 28-30 December, and then reopening on 3 January, 2023.

Thatcham Research joins hydrogen consortium

Thatcham Research is working with a consortium of industry specialists to develop a hydrogen version of the Toyota Hilux pick-up.

It will assess the repair and safety implications of any adaptations made to the standard Hilux while also making development recommendations to ensure strong passive and active safety performance.

Motor premiums up a modest two per cent

Average motor insurance premiums have risen two per cent to £436 in the last year, according to the ABI’s latest Motor Insurance Premium Tracker.

However, the ABI said insurers were finding it increasingly difficult to keep premiums low in the face of rising costs.

Some insurers short-changing claimants

The Financial Conduct Authority has warned insurers not to undervalue items when it comes to settling claims.

It has seen evidence of consumers being offered settlements below the value of the car following a write off, with pay-outs only increasing if the policyholder complained.

e2e welcomes greater reclaimed parts uptake

e2e Total Loss Vehicle Management has welcomed new figures that reveal 79% of bodyshops are now using reclaimed parts and that 74% had increased their usage in 2022.

Jim Loughran, CEO of e2e Total Loss Vehicle Management, said, “Reclaimed parts have to become a sustainable resource pool for the whole repair sector – not just for bodyshops, insurance companies and salvage suppliers, but for the planet as a whole.”

Home

Data critical to a sustainable supply chain

Achieving sustainable operations is the challenge facing every business as the climate emergency reaches critical level, but data can help first measure carbon footprint and then reduce it.

That was the message of the final part of ILC’s Home and Property Claims Conference, which was held at the CBS Arena, Coventry, in November.

ABI announces new building support proposals

The ABI has submitted a proposal to the FCA that it believes can support leaseholders facing premium increases caused by the building safety crisis and ‘excess layers of insurance’.

The plan is based on the premise of one insurer sharing all risks with a group of reinsurers, meaning that one insurer is more likely to be able to provide cover for the whole building.

MGA

Qlaims introduces ATE services

Qlaims has extended its claims assistance to provide After the Event (ATE) services to its brokers.

The independent insurtech already provides Before the Event services to private and business clients, but adding ATE solutions develops its portfolio and enhances the services it offers customers.

Ardonagh Group completes MDS acquisition

The Ardonagh Group’s subsidiary – Ardonagh Overseas Investments Ltd – has completed its acquisition of MDS Group, a leading insurance broker and risk management advisor across the Portuguese-speaking world and Europe.

Founded over 35 years ago, MDS is headquartered in Porto and is the only Portuguese Lloyd’s Broker.

Industry News

Davies looks into social media complaints procedures

Davies has partnered with DataEQ to examine how companies can manage and respond to customer complaints over social media.

This follows the announcement by the Financial Conduct Authority that as part of the new Consumer Duty rules companies will be expected to handle complaints via social media ‘in a timely way’.

Risk assessors call for greater ESG involvement

New research by WTW has found that more than 77% of risk managers believe they should take a more active role in their company’s ESG strategy and initiatives, with one third saying ESG influences risk management strategy, and a further nine per cent saying it will in the next two years.

Rainbow Trust’s Rachel shares her story

Rainbow Trust Support Worker Rachel has marked National Grief Awareness Week by sharing some of her personal experiences with grieving families.

She said, “I wish I could take away the pain but the truth is nothing and no one can. I have accepted that. I only wish to be present, support and tenderly care for them while they find their feet.”