ILC Breakfast News – Wednesday 12 July 2023

Zurich partners tech-based Qover

Zurich Insurance Group has entered into a strategic partnership with Belgium-based Qover.

Qover’s distribution platform powers global cover through a single integration, making it possible for businesses to quickly and easily integrate tailored insurance products to digital experiences.

Mastercard tackles fraud with AI solution

Mastercard has launched a new AI-powered ‘Consumer Fraud Risk’ solution in the UK.

The solution leverages Mastercard’s latest AI capabilities and its network view of account-to-account payments to help banks predict and prevent payments to scams of all types.

LexisNexis Risk Solutions tops anti-fraud list

LexisNexis Risk Solutions has been named an Overall Leader in the latest KuppingerCole Leadership Compass Report on fraud reduction intelligence platforms.

It earned the highest possible rank across all assessment categories: security, functionality, interoperability, deployment, usability, innovativeness, market position, financial strength and ecosystem.

MGAA backs ILC’s MGA Claims Conference 2023

The Managing General Agents Association (MGAA) has again put its influence behind ILC’s MGA Claims Conference taking place on 28 September at 155 Bishopsgate, London.

GRP strengthens commercial lines portfolio

Brown & Brown company Global Risk Partners has acquired SB2, the holding company for commercial lines broker KPTI.

It has also completed the acquisition of another commercial lines broker, Brighton-based Petherwick Insurance Brokers.

EV market realigning after price collapse

The crash in value of electric vehicles has been startling but it will not continue as the perfect storm that saw prices plummet by as much as 40% begins to pass.

This is according to Derren Martin, Director of Valuations at cap hpi, who said the rare circumstances that converged to disrupt the EV market are now easing.

He was speaking during ARC360’s specialist EV event, EV-olution; Gaining Ground Together, which was held at the Manufacturing Technology Centre, Coventry last week.

Employers urged to mix it up on work trips

New research from Enterprise Rent-A-Car has found that nearly half of employees (42%) would like to use a mix of transport on business trips.

The research found that 37% make multi-modal trips in their private lives, but only 18% do so for work.

Carpenters Group wins COLBA gong

Carpenters Group was named Employer of the Year Award 2023 at the City of Liverpool Business Awards (COLBA).

COLBA acknowledges and celebrates companies who have made a successful and significant contribution to economic growth in the city region.

Gemini ARC celebrates apprentice success

Gemini ARC has recognised the successes of its rising stars at the company’s third annual apprenticeship awards held at the Manufacturing Technology Centre near Coventry.

The repair group has a proud history of supporting apprentices and has recently celebrated becoming an IMI Approved Centre.

Thatcham Research urges cross-industry EV action

Repairs of electric vehicles are about 25% more expensive than ICE equivalents and take 14% longer.

This is according to a report, The Impact of BEV Adoption on the Repair and Insurance Sectors, produced by Thatcham Research, which was funded by Innovate UK.

ERS continues growth strategy

ERS is investing to meet growing demand. It has recently expanded its team and is also investing in its e-trading platform and new technologies to support digital distribution.

DAC Beachcroft examines FRC changes

DAC Beachcroft has considered how claims behaviours might change when fixed recoverable costs (FRC) are extended for claims up to £100,000 on 1 October.

Further, it is hosting a non-injury fixed costs workshop on 26 July, featuring a range of its legal experts.

Focus fixed on credit hire claims

DAC Beachcroft has broadcast the third episode in its credit hire podcast mini-series, with Helen Mason, Head of Vehicle Hire and Damage, and James Keogh from the Vehicle Hire and Damage team discussing how to use PAD applications in credit hire claims.

Talking tech with Emma Bazard

New technologies are the key to helping businesses meet evolving customer demand, according to Emma Bazard, Strategic Client Lead, Restore Digital, who was speaking exclusively to ILC.

Restore Digital is now asking industry to share its views on the technologies that will shape the market, and how they can best be adopted.

Geobear leaves no stone unturned

Geobear has explained how its innovative technology managed a complex subsidence claim that affected the entire perimeter of the property.

Construction sinks to five-month low

The latest construction Purchasing Managers’ Index (PMI) from EY revealed that the sector dipped below the ‘no-change’ 50-mark for the first time in five months.

It fell from 51.6 in May to 48.9 in June as a result of falling residential activity.

ILC welcomes Insurer Partner Antares

ILC is proud to announce Antares Global as its latest Insurer Partner.

Antares, a wholly-owned subsidiary of QIC Global, is a specialist insurer and reinsurer operating at Lloyd’s in London and Singapore. It delivers a global range of property, reinsurance, casualty, speciality, and marine underwriting services.

Clearway confirmed as ILC Corporate Partner

Security and protection services and technology provider Clearway has been announced as a new ILC Home Corporate Partner.

Clearway works with risk managers, underwriters, brokers, insurers and MGAs and has developed an unparalleled range of security and safety risk mitigation solutions over the past 30 years to help companies manage insurance risk and insurance claims.

ABI sets up Investment Delivery Forum

The Association of British Insurers has brought industry together to create the Investment Delivery Forum, intended to drive further investment in infrastructure projects.

The Forum will build a detailed understanding of future projects suitable for long-term investment.  

Hot off the press

The latest issue of Modern Insurance Magazine is now available, including features on sustainability, AI in claims, and new mobility solutions.

People

Insurance claims management solutions specialist Evolution Claims Management has promoted Martin Thompson to the role of Chief Operating Officer.

Keoghs has strengthened its Complex Injury London team with the appointment of new partner, Phill Bratt. Anne Chapman has also joined Keoghs, bringing with her a team of five lawyers who will all sit within the Keoghs’ Tactical Credit Hire division.

Allianz has announced the appointment of Benjamin Turner as Chief Information Officer

Pen Underwriting has appointed Munro Anderson as Head of Operations at Vessel Protect.