ILC ARTICLE

ILC Breakfast News – Wednesday 8 June

7th June 2022

Motor

Latest line-up for Motor Claims Showcase agenda revealed 

Three more stellar names within the automotive aftermarket industry have been confirmed for the inaugural Motor Claims Showcase Event, which will take place at the CBS Arena on Wednesday, 29 June. 

Marc Holding, Managing Director, The Vella Group, Nick Sweetman, Head of Vehicle Repair & Service Operations for UK & Ireland, Enterprise Holdings, and Rebecca Winterhalder, Vehicle Damage Manager, Ageas Motor Claims are the latest names been added to an already impressive line-up of speakers. 

AkzoNobel announces African acquisition 

AkzoNobel is expanding its presence in Africa after agreeing to purchase the paints and coatings division of Kansai Paint, which operates in 13 countries on the continent and boasts regional consolidated revenues of around €280m. 

The transaction, expected to complete next year, also includes the Plascon brand, which has been established in South Africa for more than a century.  

AkzoNobel CEO Thierry Vanlancker said, “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.” 

EV tipping point reached 

A new survey has found that the number of active car buyers who would choose an electric vehicle has risen from 21% to 49% in just two years. 

The EY Mobility Consumer Index considered the responses of 13,000 people across 18 countries and found that EV appetite is strongest is Italy (73%), China (69%) and South Korea (63%) with consumers in Australia (38%) and the US (29%) lagging behind the trend. 

Respondents cited penalties associated with petrol and diesel vehicles as the number one motivating factor, marginally ahead of environmental concerns. 

Supply issues stunting sales 

New registrations were down 20.6% in May compared to the same month last year, with just 124,394 units entering the market. The news was even more bleak in the light commercial vehicle sector with registrations plummeting by 25.1% to 22,000 units. 

This is according to data published by the Society of Motor Manufacturers and Traders, which attributes to falling sales to disruption across the global supply chain. 

Mike Hawes, SMMT Chief Executive, said, “In yet another challenging month for the new car market, the industry continues to battle ongoing global parts shortages, with growing battery electric vehicle uptake one of the few bright spots.” 

ILC Industry Leader Interview: David Vella, GT Motive  

“Technology now needs to play such a huge roll in insurance, to not only meet the demand of claimants, but also to give all stakeholders full visibility of the claim.”  

Read the full interview.

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Business strategies & best practices – Wednesday 15 June at 1.30pm  

In this webinARC we explore the latest in vehicle incident repair management strategies and best practices as we speak to some leading names from across the motor claims supply chain and discuss the direction of travel.  

Featuring: 

– Garry Bloom, senior operations manager, Davies Group 
– Ruth Moring-Beale, national sales director, Morelli 

Home

ILC specialist event: tomorrow  

The environmental challenges faced in property claims will take centre stage tomorrow (9 June) in London as key decision makers from across the sector convene at the latest ILC specialist conference.  

Headline sponsored by Corelogic, along with sponsors Gateley Vinden, Polygon, QuestGates and RSK Raw, the event will see 18 industry experts take to the stage to discuss their activities, experiences and insights in tackling environmental challenges.  

Belfor names new MD 

Belfor UK has announced that Hein Hemke will replace Alasdair Phillips as new Managing Director. Phillips is retiring after 10 years at the helm but will continue to support the business in a consultancy role. 

Construction unites in net zero drive 

The Construction Leadership Council has announced that four new companies have joined its campaign, CO2nstruct Zero, to drive down emissions in the industry,.   

MKM Building Supplies, GRAHAM, Heron Bros, and Skanska UK are the latest firms to be named as Business Champions, joining 80 other companies that have already pledged their support. 

The campaign aims to unite the sector to deliver environmental change while providing a wider roadmap towards net zero. 

ClaimsTech

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ClaimsTech 2022 – The story so far…     

We explore the latest developments within the claimstech space and ask: what’s changed for our customers, our people and what’s next?     

Featuring:     

– Charlotte Thorpe-Costa, director of marketing, Sightcall     

– Karen Houseago, head of insurance, Consumer Intelligence     

– Peter Graham, chairman & CEO, Kudo Insurance   

Verisk enhances weather-risk solutions 

Verisk has introduced a new data solution enabling insurers, first responders and logistics operators to more accurately analyse the impact of severe weather. 

Respond MAP overlaps real-time weather data with key locations of interest, such as policies-in-force, enabling users to quickly estimate potential damage from extreme weather events such as hail, wind, fire, and tornadoes.  

Meanwhile, the company has also announced that Maroun Mourad will succeed Rich Della Rocca when he retires as President, Claims Solutions, at the end of this month. 

Tech trends revealed in new report 

A new report has been published identifying the key tech trends impacting industry today, and advising businesses how seriously they should be taking them. 

Produced by experts from Munich Re and ERGO, the Tech Trend Radar 2022 considers emerging trends within wellbeing, hyperconnectivity, data and AI, cyber and crypto, and emerging industries, while also assessing the maturity of these trends and advising businesses to either monitor, consider, trial, or adopt.  

Industry News

ILC announces Zego partnership 

I Love Claims (ILC) has strengthened its ties with the wider industry by announcing Zego Insurance as its latest Insurer Partner. 

Established in 2016, Zego provides flexible motor policies from one hour to one year to self-employed drivers, riders and fleets. Boasting insurance partnership with the likes of Deliveroo and Uber Eats, Zego now insures more than 200,000 vehicles in the UK and Europe. 

Cyber resilience weakened by Covid 

The pandemic has prevented businesses developing cyber risk protection strategies as quickly as they would have liked. 

This is according to a new report – The State of Cyber Resilience – published by Marsh and Microsoft, which found that business leaders were no more confident of preventing, assessing and managing cyber threats now than they were in 2019. In fact, the number has decreased slightly from 19.7% three years ago to 19% today. 

Tom Reagan, Cyber Risk Practice Leader, US & Canada, Marsh, said, “Cyber risks are pervasive across most organisations. Successfully countering cyber threats needs to be an enterprise-wide goal, aimed at building cyber resilience across the firm.” 

WTW unveils data upgrade 

Global solutions provider WTW has increased the functionality of its climate diagnostics tool to enable clients to produce bespoke reports tailored specifically to meet their own needs. This will enable increased transparency of an organisation’s risk exposure to extreme weather. 

Andy Smyth, Head of GB Risk and Analytics, WTW, said, “WTW has developed a comprehensive visual representation of a businesses’ risk, powered by the client’s own data and analytics. With unmatched precision and based on individual requirements, WTW will provide clients with an essential integrated tool as they look to bolster their climate resilience.” 

Moore the merrier 

Simon Moore has been appointed as new Chair of LV=. Subject to regulatory approval, he will succeed interim Chair Seamus Creedon, who will remain as Non-Executive Director. 

Moore has more than 30 years’ experience in the financial sector, having previously worked for Lloyds Banking Group, Chase Manhattan Bank, ABN AMRO, Barclays Bank and the Confederation of British Industry (CBI).  

He said, “I am honoured to be taking the chair of such a distinguished British business, and at such an important time in LV=’s 179-year history. I was attracted to the strength of the LV= brand and mutual ethos, and my focus will be on building a strong and thriving business for the benefit of our members, advisers and employees.”