ILC ARTICLE

ILC Breakfast News – Wednesday, 24 January 2024


Motor

Networking Lunch raises £60,000 for Rainbow Trust

ILC’s Motor Claims Networking Lunch 2024 has helped raise just under £60,000 for children’s charity Rainbow Trust taking ILC’s total fundraising efforts for the charity to just under £1.3m.

Activate Group secures Elysian Capital investment

Activate Group will expand its accident repair network with four new sites this year after securing major investment from Elysian Capital.

The private equity firm has acquired a majority share in the group to accelerate an ambitious growth strategy.

Grey remains car buyers’ colour of choice

Grey is still the most popular colour for car buyers with a market share of 26.8%, according to the Society of Motor Manufacturers and Traders (SMMT).

Black and white are the second and third most popular choices, meaning 63.5% of all new cars joining UK roads in 2023 were monochrome.

Autoglass tops most trusted survey

Autoglass has been named the most trusted brand in the Automotive Windshield Repair/Replacement Service category by Newsweek.

The winners were selected following an extensive survey of consumers.

Solera unveils next gen solutions

Solera will unveil a range of new dealer and OEM solutions at the NADA SHOW 2024 in Las Vegas next month.

These include Service Suite, a modular platform for large businesses, the payments solution Peri by Solera, ServiceAgent AI, an inbound call centre solution, and IPS ScanIt Parts, which supports dealership inventory management.

Home

More details released for specialist subsidence event

More details have been released for this year’s ILC Home & Property specialist Subsidence Conference which is set to provide an essential follow up from last year.

A number of insurers are already confirmed their attendance at the event, including AXA, Admiral Group, Ageas, Allianz, The AA, Aviva, Covéa, Ecclesiastical, esure Group, First Central, Hastings Direct, Lloyds Banking Group, LV=, Markerstudy, NFU Mutual, RSA, Saga and Zurich Insurance.

Judy Murray to star at Home Claims Networking Lunch

Former professional tennis player, captain of Great Britain’s Fed Cup Team and TV personality, Judy Murray will be special guest at this year’s Home & Property Claims Networking Lunch.

Taking place on 17 May 2024 at the Grand Connaught Rooms, London the event is backed by ILC Home & Property Corporate Partners Allied Universal, Claims Consortium Group, Clearway, Corelogic, DAC Beachcroft, Geobear, ICAB, Innovation Group, Sedgwick and Verisk; as well as Silver sponsors Davies Group and Jensen Hughes.

QuestGates announces CMA acquisition

QuestGates has strengthened its position in the motor claims sector with the acquisition of Claims Management & Adjusting, which deals with all types of specialist vehicle claims including high-value RTC related fraud investigations.

Cold comfort from insulation figures

Aviva research has revealed that six per cent of UK homeowners have experienced damage to their home as a result of burst pipes, but 24% have no plans to insulate their pipes during cold snaps.

This comes after the ABI reported that members paid out £804m in 2022 for issues caused by burst water pipes.

One in 13 new homes built in flood zone

As the UK continues to be ravaged by storms, Aviva has revealed that one in 13 new homes built in England in the last 10 years are in a flood zone.

Meanwhile, 59% of residents in homes built in the last five years believe their property is at risk of flooding.

Flawless achievement

Flawless Soils Testing has achieved UKAS accreditation to Quality Management Standard BS EN ISO IEC 17025:2017 for a range of soil materials testing disciplines required within the insurance claims site investigation sectors.

Allied Universal announces Caribbean acquisition

Leading security and facility services provider Allied Universal has announced plans to acquire J E Security Systems & Services, which has provided electronic security, patrol and response services to Barbados residents and businesses for more than 30 years.

Sedgwick sets out industry trends

Sedgwick’s Connect 2024 list, which examines industry trends for the coming year, has highlighted the shift in attitudes and behaviours as a key issue for 2024 and says every decision a company makes will need to be people-centric.

It also predicts increasing claim volumes as a result of natural disasters, a greater focus on business reputation and regulatory compliance, and continued implementation of new tech to enhance performance.

People and partnerships key to success in 2024

CoreLogic has emphasised the need for partnerships with insurtechs to better assess and manage the risks of climate change.

At INTRCONNECT, which is taking place in Austin, Texas this week, it also said that developing a diverse and inclusive workforce can help companies tackle challenges around recruitment and retention.

Concern for construction sector in Red Flag Alert report

The latest Begbies Traynor ‘Red Flag Alert’ report has highlighted that serious concerns over the Construction and Real Estate sectors which represent nearly 30% of all businesses in critical financial distress.

The report found a quarter-on-qaurter increase in Q4 2023 with more than 47,000 UK businesss starting 2024 in critical financial distress. The key sectors driving this increase continue to be the Construction, Real Estate & Property and Support Services sectors, up 32.6%, 24.7% and 23.6% respectively, alongside Health & Education (+41.3%).

Claims Essentials

Recruit for Spouses joins New Generation line-up

CEO, Heledd Kendrick and Managing Director, Cerise Upham from Recruit for Spouses (RFS) are the two latest guest speakers to join the line-up for ILC’s New Generation in Claims Conference 2024.

ILC & ITUK partner for ClaimsTech – The Pitch 2024

ILC has again partnered with ITUK for its ClaimsTech – The Pitch 2024 programme.

Last year, ILC with the support of ITUK launched its inaugural ClaimsTech – The Pitch event which provided the opportunity for a number of insurtechs to present their technologies exclusively to an audience of highly influential insurance experts and investors. 

esure unveils AWS platform

esure has developed a cloud-based platform on Amazon Web Services to support the one million quotes it creates each day and deliver a personalised, omnichannel experience to suit each user.

The scalable platform processes 15,000 data points, including information on vehicles, addresses, and credit ratings, to enable near-instant quotes.

AI code set for launch

A Voluntary Code of Conduct for the Use of Artificial Intelligence in Claims is set for official launch on Wednesday 31 January at an event taking place in London.

Attendees will have the opportunity to be among the first to sign the Code of Conduct – an initiative spearheaded by Eddie Longworth, Founder & Director of JEL Consulting – or just learn more about the work that has gone on behind the scenes to draft and publish the Code. The event is also set to feature insightful speaker contributions and provide the opportunity to discuss AI in the claims space and beyond.

MGA

Top tips from Arch Insurance

Arch Insurance has provided practical advice to SMEs on how to manage winter risks such as burst pipes, stock damage caused by flooding, and liability issues around ice and snow.

The tips come as part of the Toolbox Talks series, which offers advice to customers around a wide range of issues.

Industry News

Support for Wall of Love builds

Twenty two companies have now committed their support to ILC’s Wall of Love in support of the incredible Rainbow Trust children’s charity.

Allianz announces major UK rebrand

Allianz has announced that it will rebrand its digital motor insurance product from Flow to Allianz in March. Meanwhile, its LV= broker business will also change its name to Allianz in May.

The rebrand is part of the company’s strategy of increasing its UK presence.

EY upgrades GDP forecasts

The EY ITEM Club Winter Forecast has upgraded the UK’s GDP expectations for 2024 from 0.7% in the autumn to 0.9%.

It predicts that inflation will fall to the Bank of England’s two per cent target by May and average 2.4% through the year.

Irwell joins ABI

Irwell has joined the Association of British Insurers. The company focuses on liability insurance and legal expenses and supports clients with commercial risks such as liability claims, employment tribunals, tax investigations and property disputes.

DAC Beachcroft calls for greater AI focus

International law firm DAC Beachcroft believes ESG will remain the dominant issue within the global insurance market in 2024.

However, in a report listing 160 predictions for the year ahead, it has urged insurers to focus their attention on AI and regulation.

People

Shirley Timmons has started a new position as Area Manager Motor Networks at Direct Line Group.

Howden Ireland has promoted Amy O’Dwyer to Head of Human Resources.

Experienced civil justice practitioner Amir Ali OBE has joined the Association of Consumer Support Organisations (ACSO) as a senior advisor.

Jolanda Poots-Bijl has stepped down as a member of the AkzoNobel Supervisory Board after being named CFO of Ahold Delhaize.

Leanne Delaney has been appointed Risk and Compliance Manager at Marshmallow.

MGA Qlaims has announced the retirement of founder Malcolm Harvey.

The UK vehicle repair industry is mourning the loss of dedicated apprentice pioneer, Bob Linwood who sadly passed away on Wednesday 17 January 2024. Dane Loosley, another industry stalwart, has also passed last week.

EVENTS

Upcoming Event


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INNOVATION-GROUP
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