ILC Breakfast News – Wednesday, 10 January 2024
10th January 2024Tweet
Industry set for ILC Motor Claims Networking Lunch
ILC’s premier networking event has, to date, helped raise more than £1,200,000 for the charity supporting families with a seriously ill child.
Whichrate becomes latest ILC Motor Corporate partner
Vehicle hire rate specialists, Whichrate is the latest organisation to align with ILC and become a Motor Corporate Partner.
Whichrate’s advanced technology and wealth of expertise enables it to offer a bespoke service in line with the unique nature of each credit hire claim.
Copart continues expansion
Vehicle remarketing and recycling specialist Copart will expand its capacity in the North West by 50% with a new 16-acre operation centre in St Helens.
New Generation Interview
We meet Ben Routh, Apprentice Repair Technician, Activate Accident Repair, Leeds, who says new technology is the most exciting and challenging part of his job.
SYNETIQ announces new initiative double
SYNETIQ has announced a new initiative to drive HGV fleet decarbonisation.
The project is being run in collaboration with automotive and mechanical engineering masters students at Sheffield Hallam University and aligns with the company’s net-zero strategy.
Meanwhile, SYNETIQ, has announced a strategic collaboration with clean-tech innovator Allye Energy. The agreement marks a significant stride towards the sustainable transformation of end-of-life electric vehicle batteries.
Warning signs despite strong sales
Sales of both new cars and light commercial vehicles were up in December to cap off a strong year, according to data from the Society of Motor Manufacturers and Traders.
The new car market increased by 9.8% in December and 17.9% for the year to 1.903 million units, while December sales of LCVs surged by 36% to secure annual growth of 21% to 341,455 units.
Premiums rise by record amount
Car insurance premiums rose by 67% in the year to November, according to the latest Consumer Intelligence Car Insurance Price Index, making it the highest annual increase on record.
Ageas announces Saga motor partnership
Ageas has announced it has joined Saga’s panel of motor insurers.
Chief Distribution Officer Adam Beckett said: “We’re looking forward to growing our business with Saga by offering their customers competitively priced insurance products that meet their needs.”
Entegral unveils Bodyshop 360
Entegral has released Bodyshop 360, a mobile app that enables bodyshops to leverage their own data to make quicker and better decisions.
DAC joins Zego panel
DAC Beachcroft has been appointed to Zego’s legal panel. The business will be providing defendant legal services for Zego’s insurance operations on both a litigated and pre-litigated basis.
Momentum builds for Subsidence Conference 2024
Momentum is building for ILC’s Home & Property specialist Subsidence Conference with a number of speakers and sponsors announced.
Making a return on Thursday 7 March 2024 at the Manufacturing Technology Centre (Coventry) the event will follow-up on discussions from 2023 which carefully examined the 2022 surge fully aware that many claims were still arriving throughout Q2 2023.
Clearway acquires SECONTEC
Clearway has enhanced its security portfolio by acquiring SECONTEC, a leading provider of remote video surveillance and CCTV towers across Germany and Austria.
ABI reassures storm victims
After flooding from Storm Henk and other severe weather, the Association of British Insurers (ABI) has reassured homeowners and businesses that flood and storm damage is covered by most standard home, business and motor polices.
Natural disasters cost Europe £66bn
Extreme weather and natural disasters caused losses valued at more than £66bn in Europe last year.
This included the earthquake in Turkey, thunderstorms in Italy with 19cm hailstones, and flooding caused by torrential rain along the Adriatic coast and in Germany.
New MGA opens its doors
Ai Marine Risk, a marine-focused MGA, joined the market on 1 January. The business was founded by Tom Fulford-Smith and Charles D’Alton and is backed by private equity investor P Marsh and Partners.
Fronting insurer Bridgehaven goes live
Bridgehaven has launched as the first authorised, regulated, and capitalised fronting insurer in the UK. It is led by Paul Jewell, CEO, Richard Mangion, CFO, and Stefan Nadarajan, COO.
Majesco Acquires the DRC Business
Cloud insurance software solutions provider Majesco has acquired the Decision Research Corporation, a SaaS-based insurance software company for the P&C insurance market.
Robertsons becomes first ILC Claims Essentials partner
Investigation, surveillance, liability adjusting and outsourced claims handling specialists, Robertsons have become ILC’s first Claims Essentials Partner headlining the Fraud division.
Established in 1997, Robertsons has been providing high-quality, bespoke fraud and claim solutions to HM Government, Insurer, Broker, MGA, Corporate and wider financial services industry for over a quarter of a century.
BBC star set for ILC event
BBC The Apprentice winner Lee McQueen is set to support ILC’s New Generation in Claims 2024 conference on 25 April 2024 at etc venues Manchester.
Sponsored by Carpenters Group and Enterprise and spearheaded by new ILC New Generation Lead James Lambert of Engage to Succeed, the event will explore the ever-present puzzle of External vs Internal talent focus.
Consumer Duty can ‘redefine our industry’
Consumer Duty compliance requires a multi-faceted approach and continuous focus, according to Suneeta Padda, Managing Director, Padda Consulting.
Talking at ILC’s inaugural Risk and Compliance event in Manchester, she said it was a chance to redefine the industry.
Evolving attitudes toward insurance fraud
Sedgwick has highlighted research that reveals a changing attitude to insurance fraud, with many millennials less likely than older generations to view it as a serious crime.
Speed and efficiency tops customer wish-list
A new survey by Consumer Intelligence found that 61% of recent claimants said ‘speed and efficiency’ needed to be improved to make their journey better.
Speed and efficiency also topped a poll of what policyholders value most during a claim.
Ecclesiastical Brooks new deal
Ecclesiastical Insurance is partnering with Brooks Braithwaite, which offers insurance products tailored specifically for animal related risks and aims to double in size by 2026.
Innovation Championship underway
Entries are open for the fifth Zurich Innovation Championship, with 10 winners from four categories – Commercial Insurance; Digital Simplification; Life & Health; Retail P&C – invited to work with Zurich to develop their innovations.
Antares Global has appointed Kevin Wenzel as Chief Financial Officer.
Karen Smith has joined ICAB. She will support the Business Development/CRM team with a specific focus on working on the Procurement for Housing framework.
Dan Welsford has been named Operations Manager – Liability at QuestGates.
Davies Group has appointed Jonathan Rew-Dixon as Head of Customer Compliance.
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