ILC ARTICLE

ILC Breakfast News – Wednesday 21 June 2023


Motor

Scene set for specialist EV event

Some of the leading names from across the motor claims sector are set to share their insights at ARC360’s forthcoming specialist EV event – The EV-olution.

Sponsored by Control Expert and Thatcham Research, along with ARC360 Corporate Partners and Partners, the event takes place on Tuesday 4 July at the Manufacturing Technology Centre (MTC), Coventry.

Lexis Nexis launches one-stop data solution

Lexis Nexis Risk Solution has released a new product to help insurers gain a more granular view of the vehicles they are insuring.

Lexis Nexis Vehicle Insights provides a single source of accurate, real-time information on the vehicle’s ADAS systems, current status, valuation and maintenance history. These deep insights will vastly improve risk assessment and enhance the customer experience from quote to claim.

The shape of claims to come

Claims and motor repairs are evolving rapidly as new technologies and new ways of working disrupt the landscape. These changes are putting pressure on bodyshops and insurers and to move with the times to ensure they continue to offer a safe and streamlined service to drivers.

Here, Solera Audatex considers the implications of the fast-changing landscape.

Collaboration critical in autonomous world

Chief Services Officer James Dalton has called for collaboration between insurers, governments, technology suppliers, vehicle manufactures, road safety experts and organisations like MIB to ensure automated and connected vehicles are driven, repaired and insured correctly.

He was speaking at the Motor Injury Conference.

Anxiety affecting road behaviours

More than a third of motorists feel anxious behind the wheel, with almost half (43%) of this group saying nerves affect their ability to drive.

This is according an Aviva survey of 1,441 drivers, carried out by Censuswide Research.

Compare and contrast carbon benefits

AkzoNobel has launched an openly accessible online energy savings calculator to enable all powder coatings customers to instantly calculate the energy and carbon reduction they could achieve with the company’s Interpon products and related services.

Allianz backs sustainable driving championship

Allianz Commercial is sponsoring Lightfoot’s driver engagement initiative, the Elite Driver Championship, which encourages safer driving amongst the UK’s motor fleet by giving sustainable drivers the opportunity to win £1,000 every month.

Benathlon and Big Breakfast on the menu

Automotive charity Ben is inviting the industry to take part in two charity initiatives this autumn, the Benathlon in September and its Ben’s Big Breakfast in October.

Home

Underinsurance at record high

Arch Insurance has warned that rebuilding costs have hit record highs and the risk of underinsurance is now greater than ever.

It issues these warnings in its latest Technical Talk, which addressed the impact of inflation on home insurance.

Polygon Group expansion far from Finnish

International player in property damage control Polygon Group has continued its ambitious expansion strategy by increasing its presence in Finland with the acquisition of JVT, which specialises in fire and water damage restoration. 

Gateley Smithers Purslow expands Scottish footprint

Gateley Smithers Purslow has expanded its presence in Scotland with a new Glasgow office base and two key appointments.

The new site is led by Technical Director Kenny McInally.

ClaimsTech

Lloyd’s lays groundwork for Dubai development

Lloyd’s is partnering with Dubai’s Department of Economy and Tourism (DET) to support holistic growth among Dubai-based insurtechs and entrepreneurs.

It will develop a Dubai Insurtech Enablement Platform to enable start-ups and entrepreneurs to create innovative tech-based insurance solutions and products covering various sectors from autonomous vehicles to the transition to net zero.

WTW updates cyber management model

WTW has updated its Cyber Quantified model, meaning it now has the capability to evaluate cyber loss potential and provide decision support.

MGA

GRP announces Amicus acquisition

Global Risk Partners has acquired Amicus Solutions Holdings, a specialist commercial insurance broker headquartered in Surrey.

Amicus will become part of GRP’s retail division, with Managing Director Adam Scott, his fellow senior leaders Jamie Agutter and Andy Morrison, and the rest of the team remaining in their roles.

Industry News

Changing the narrative around apprenticeships

A lack of understanding and awareness is hindering the number of young people considering apprenticeships. On top of this, those who do know about apprenticeships invariably have a negative opinion of them.

This is according to UCAS, which has been helping school leavers progress into higher education for more than 30 years.

DAC Beachcroft accelerates equity, diversity and inclusion strategy

DAC Beachcroft has taken a number of steps to promote equity, diversity and inclusion within its workforce.

These include the Lifting the Lid Events, established to help clients and colleagues better understand others’ outlooks and challenges, while it has also established a Disability Working Group and appointed Accessibility Champions.

Mission commission for Zego

Zego has announced the UK launch of Commissionly, a one-stop shop for all commission information, enabling brokers to access information on earned commission, receive monthly payment statements, and download commission reports for any time period.

WTW delivers step forward in claims insights

WTW has highlighted the benefits of its claims benchmarking solution, Claim Metrics, which provides insurers with key insights around profitability drivers and inflation trends.

Accessed via an intuitive, interactive and self-service dashboard with 24/7 availability, it delivers bi-annual benchmarking for more timely performance analysis.

Insurance Charities launches awareness campaign

The Insurance Charities is calling for the industry to support its annual awareness-raising campaign.

The week-long campaign aims to raise awareness about the practical and financial support available to colleagues facing challenging circumstances. In the last year alone, the Charity awarded over £1.3m to support current and former insurance people who were struggling financially.

Opportunistic fraud up 61%

The City of London Police’s Insurance Fraud Enforcement Department (IFED) has reported that cases of opportunistic fraud rose by 61% from March 2022 to April 2023.

Motor insurance fraud was the most common type of opportunistic fraud referred to IFED during this period, accounting for 51% of the cases the unit received. Property insurance fraud was the second highest and made up 29% of cases received.

People

Chris Moat will take over from Thierry Francq as Chair of the Board at Covea Insurance on 1 July. Meanwhile, Adrian Furness has decided to step back as CEO of Covéa UK.

Markerstudy has appointed Lord Theodore Agnew as Non-Executive Director.

EVENTS

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