Daily Motor News – Thursday 24 April 2025

ILC ARTICLE

24th April 2025

“The UK has unique advantages in AI innovation – a robust regulatory framework, world-class talent, and sophisticated financial markets. We’re perfectly positioned, but innovation must be balanced with consumer protection. Sprint participants discussed current AI use cases that could help customers better manage personal loans while still being able to save. I saw a glimpse of our future – a future where AI innovation drives both growth and better consumer outcomes.” Colin Payne, Head of Innovation Services, FCA. Read more

Exclusive: GTA continues to make progress 

For the past 18 months or more, the CHO and insurers have been working collaboratively to achieve significant revisions and improvements to the GTA, hoping to remove friction from credit hire claims and put consumers at the heart of the accident management process.  Read more

Brokers Identify Major Growth Opportunities in Non-Standard Market

Prestige Underwriting’s latest broker survey reveals a strong surge in demand across key non-standard home and motor segments, demonstrating brokers’ robust appetite for tailored, specialist solutions as they respond to the growing complexities of client needs. Read more

Speed Matters – How Faster Parts Sourcing Speeds Up Claims and Boosts Policyholder Satisfaction

Speed is a game-changer for claims handlers and policyholders alike. Delays in sourcing vehicle parts have traditionally extended claim cycles, frustrated policyholders, and increased costs for all concerned.  Read more

‘The road less travelled’: Why classic car insurance is getting a reboot

Getting older doesn’t mean going out of style. In fact, where classic cars are concerned, it’s quite literally the opposite. One Provider who appreciates this better than most is Hagerty. Read more

Independent review turns to tackling Britain’s biggest crime

Better protections for the British public against fraud, and tougher enforcement against the perpetrators, will be the goals of the first independent review carried out in 40 years into the UK’s fraud laws. Read more

Seventy percent cut in capital rules red tape

The FCA is proposing streamlining the rules on the types of funds investment firms must hold to absorb losses and maintain financial resilience during periods of stress. Read more

New car registrations: -1.9% in Q1 2025; battery-electric 15.2% market share

In Q1 2025, new EU car registrations declined by 1.9% compared to Q1 2024, with March 2025 figures showing a slight 0.2% year-on-year (YOY) decline as the global economic context remains particularly challenging and unpredictable for auto makers. Read more

FleetSafe: Global NCAP fleet safety guide & safer purchasing policy 2025 – 2026

Work-related crashes cause a third of global road deaths, making driving one of the biggest risks for employees. Read more

10,000 extra driving tests a month to clear backlog

The transport secretary has pledged to reduce the number of learner drivers in England waiting more than five months to sit practical tests.

Heidi Alexander said the government would aim to clear the backlog by next summer, providing at least 10,000 extra driving tests a month to help tackle the issue. Read more

PCC driving down car thefts as police recover 300 stolen vehicles worth £3m

A super-charged car crime crackdown funded by Police and Crime Commissioner Simon Foster, has resulted in the recovery of almost 300 stolen vehicles worth more than £3 million. Read more

West Yorkshire Police Tackles Vehicle Crime with Support from NVCRP in Successful Week of Action

In a significant step towards combating vehicle crime across the county, West Yorkshire Police recently completed a highly successful week of action aimed at tackling a wide range of offences related to vehicle theft, drug driving, and road safety. Read more

CII says institutions must be held accountable for AI outcomes

In recommendations submitted to the Treasury Select Committee (TSC), the Chartered Insurance Institute (CII) says institutions and individuals must be held accountable for decisions made using AI, and advocates for a ‘skills strategy’ to support the use of AI within financial services. Read more   

Over half believe sentences for tool theft are not tough enough

Over half of Brits (52 per cent) believe sentencing for tool theft is too lenient, according to new research conducted by Direct Line business insurance. The insight comes ahead of a Second reading of the Theft of Tools of Trade (Sentencing) Bill, which calls for provisions to be made regarding sentencing for theft in relation to the theft of tools of trade, scheduled to take place on Friday 25 April 2025. Read more

AI through a different lens: what 115 experts taught us about AI innovation

Still being a relative ‘new kid’ at the FCA, I can approach everything with a fresh pair of eyes. Or, in the case of our AI Sprint event, with a futuristic set of eyes.  Read more

Santander plans UK restructuring to ring-fence motor finance unit

Banco Santander SA is preparing to restructure its UK operations by carving out its consumer finance unit, including the division affected by mounting motor finance litigation, according to Bloomberg News. Read more

Continental Group Sector Automotive will be Named Aumovio in the Future

Continental group sector Automotive presented its future name today at Auto Shanghai. The independent automotive company will be named Aumovio. The name of the new company combines the strong market position, heritage and technological expertise in the automotive industry with the ambition to shape the mobility of the future with innovations. Read more

Copart donates to Big Green Match Fund

Copart – a Platinum accredited Carbon Literate Organisation – has donated to The Carbon Literacy Project‘s Big Give Green Match Fund campaign, where for one week only all donations to support their ‘Carbon Literate Localities’ initiative will be doubled by The Big Give Trust. Read more

Artura Partners with the Sustainable Ports Association

We are thrilled to announce our partnership with the Sustainable Ports Association, a collaboration that aligns with our mission to “Set the Standard” in operational efficiency, cost reduction, and smarter working practices. Read more