ILC ARTICLE

ILC Breakfast News – Wednesday, 6 March 2024


Home

Experts set for subsidence event

ILC’s Home & Property Specialist Subsidence Conference takes place this week with experts set to discuss the latest developments from across the sector.

Throughout the day, experts will focus on three key subject areas following the 2018 and 2022 subsidence surges: Where are we now? What are the major blocks and challenges? Environmental issues and tree management challenges.

BIBA partners with iprism

The British Insurance Brokers’ Association has appointed iprism Underwriting to provide its member High Value Home Insurance scheme.

Members can access the scheme, backed by A-rated, UK-domiciled capacity, via a dedicated webpage or iprism’s broker portal.

CCL unveils biodiversity roadmap

The Construction Leadership Council’s Green Construction Board has unveiled its new Biodiversity Roadmap, which explains how the construction industry should work together to reduce harm to the natural environment.

Architects tapping into AI potential

A new AI report published by the Royal Institute of British Architects (RIBA) has revealed that 41% of UK architects are now using the technology on certain projects, with 43% of that number saying it has improved the design process.

Meanwhile, 54% say they will adopt AI practices in the next two years.

Motor

DLG rejects Ageas acquisition proposal

Ageas has made an approach to acquire Direct Line Group in a deal valued at nearly £3,095m. However, the DLG board has rejected the indicative acquisition proposal.

According to regulations, Ageas will have to have to make a firm offer by 5pm on 27 March in order to progress with the acquisition.

Supply chain warned to adapt to battery transport

Kennedys law firm has warned logistics businesses that they will have to ‘adapt to the carriage of lithium-ion batteries or products which include such batteries’ if they intend to continue in business.

However, it says associated risks vary significantly with different types of batteries.

Activate Group unveils new Hampton repair centre

Activate Accident Repair’s new 18,000 sqft site in Hampton, Greater London will open for business this month.

Equipped to handle the full range of modern vehicles, including EVs, hybrids and LCVs, the centre will offer dedicated repair capacity to the Group’s fleet and insurer customers.

FCA calls for complete pause in gap insurance sales

The Financial Conduct Authority has told all insurers to suspend sales of their gap insurance products while it continues its investigations into ‘fair value’.

About 80% of the market paused gap insurance sales last month, and the FCA has now asked the remaining 20% to follow suit.

Speed critical in salvage sector

S&G Response has highlighted the need for speed when it comes to total loss and salvage. It says accurate decision-making based on good data is critical to a successful salvage strategy.

SYNETIQ celebrates fifth birthday

SYNETIQ has thanked its customers, clients and colleagues as it celebrates its fifth birthday.

Time ticking down on in-vehicle touchscreens

New regulations limiting the reliance on touchscreens in vehicles will be introduced from January 2026 after research has found that they reduce road safety.

Meanwhile, Euro NCAP will change its testing rules to penalise vehicle manufacturers who do not provide physical switchgear for operations including indicators, hazard lights, the horn, and windscreen wipers.

ARC360 to explore future tech impacts and solutions

Following up on last year’s highly acclaimed specialist electric vehicle (EV) event, ARC360 is back on Thursday 27 June to further explore just how technology is shaping the future of the industry.

The event at the Manufacturing Technology Centre (MTC) in Coventry will canvass insights from across the sector and beyond in a bid to explore how the motor claims repair sector is transitioning towards a high-tech future, seeking insights from across the sector and beyond.

Vella Group partners AkzoNobel in sustainability drive

The Vella Group has become the first UK business to be named an official partner of AkzoNobel’s Sustainable Repair Network.

It has achieved level 1 of the three-level certification process, which demonstrates its commitment to reducing its carbon footprint.

Thatcham Research announces ground-breaking LexisNexis partnership

Thatcham Research has announced a strategic relationship with LexisNexis Risk Solutions.

The new partnership will transform the accessibility, consistency and analytical power of Thatcham Vehicle Risk Data (VRD), which assigns ABI Codes and Group Ratings to vehicles to help insurers assess and rate risk.

Claims Essentials

Expert view: Tracey Bradbury

Insurance experts set to join ClaimsTech – The Pitch 2024 have been sharing their insights regarding the challenges facing the sector during the year ahead, and what technologies and innovations they hope to see at this year’s event. 

On the expert panel at this year’s event is Tracy Bradbury, Head of Claims, Change and Risk, at NFU Mutual. She believes that AI will continue to dominate conversations and future strategic thinking, and says the challenge for claims this year will be moving from use cases to enterprise adoption.

‘Talent’ greatest challenge for CEOs in 2024

According to Forbes Coaches Council Members, seven of the top 14 challenges facing CEOs in 2024 are directly ‘talent’ related.

They are: improving recruitment, hiring for mindset, managing resistance to returning to the office, deciding what is culturally important, reskilling crucial employees, navigating the impact of AI and automation, and improving workplace apathy and turnover.

ClaimsTech – The Pitch applications open

ILC has opened its application process for ClaimsTech – The Pitch 2024.

Introduced last year, ILC’s ClaimsTech – The Pitch is once again supported by Insurtech UK, and provides the opportunity for a number of start-up/scale-up insurtechs to present their technologies exclusively to an audience of highly influential insurance experts and investors.

Entries must be from businesses and/or technology solution providers that are less than five years old, have less than 50 employees and are either: an MGA/insurer with an innovative technology driven claims solution or a software/service provider offering technology that solves a problem for a claims department.

ILC launches ClaimsTech – The Journey

ILC has launched its ClaimsTech event programme for 2024 – this year created to take attendees on a step-by-step review of the claims journey.

Taking place between 12.00 – 15.00 (following on from ClaimsTech – The Pitch and ahead of the BIA) on 3 July 2024 in London ClaimsTech 2024 will gather together the most influential names within the claimstech/insurtech space and provide a powerful platform for claims technology solution providers to be directly associated with specific sectors and stages of the claims journey.

Verisk announces key insurance collaborations

Global data analytics and technology provider Verisk has announced two new collaborations with insurance technology companies, FRISS and Globlue Technologies, designed to bolster insurance fraud detection.

The new partners will integrate their solutions with Verisk’s ClaimSearch platform.

FCA publishes Consumer Duty review

The FCA has published a review of the industry’s response to last summer’s introduction of Consumer Duty.

It has reported that insurers have subsequently targeted consumers with the right products more accurately, tailored products to deliver additional benefits and simplified communications. However, it says progress is required in data sharing across the supply chain and reducing the complexity of products.

A success story

Kennedys has marked National Careers Week by sharing the experiences and career journey of its Dubai-based Business Development Director Tia Hildreth.

Insurtech UK welcomes new members

Insurtech UK, an alliance of more than 100 insurance startups, has announced that Aquinsure, Renew Risk, Juniper, and Recorder have all joined as members.

Gen AI delivering for esure customers

Digital insurer esure has revealed how it is leveraging Generative AI technology to deliver a more seamless customer journey.

By integrating the technology into its platform, it has reduced repetition, enhanced personalisation, and reduced customer handling times.

MGA

Aviva completes Probitas acquisition

Aviva has acquired Probitas for £242m in a transaction that includes Probitas’s fully-integrated Lloyd’s platform, which encompasses its corporate member, managing agent, international distribution entities and tenancy rights to Syndicate 1492.

Evolution continues with new partnership

Insurance specialist Evolution Claims Management is partnering with leading HR expert Ambition HR to boost employee engagement.

Together, they will develop an employee strategy which aligns with the company’s growth plans for tech and AI-driven claims handling solutions.

Industry News

Global insurance group Howden partners with ILC

Howden, one of the largest insurance groups in the world, has joined ILC as an insurer partner.

The partnership will ensure employees of Howden’s Corporate & Commercial division are a central part of the ILC community, joining events and providing leading industry insights via ILC’s content channels. 

ILC Day 2024 count up continues

The fundraising total for ILC Day 2024 looks set to hit the £20,000 target as monies continue to flow through to Rainbow Trust.

Industry leaders from across the insurance claims industry committed their support to childrens’ charity Rainbow Trust on Valentine’s Day (14 February) in support of ILC Day.

DAC Beachcroft examines gen AI threat

DAC Beachcroft has published the third part of project ASIMOV, which is monitoring the impact and development of AI.

Parts one and two considered AI chatbots and image generators, while part three focuses on how generative AI can be deployed against the insurance industry.

ABI reveals IPT ignorance among consumers

The Association of British Insurers has labelled Insurance Premium Tax the ‘hidden in plain sight’ tax after its own research found that 67% of people have little or no knowledge of it while 50% didn’t realise it impacted their premiums.

IPT has doubled to 12% since 2015, adding £67 to the cost of the average price of motor insurance.

Five key risks revealed

Kennedys has identified five key risks facing insurers this year. In its ‘Global forecast 2024: Evolving insurance risks’, it believes regulation, AI, ESG, geopolitics and reputational damage are the main risk areas in insurance.

Aviva and Howden warm to Sunsave

Aviva and Howden are working together to offer bespoke insurance to an innovative start-up, Sunsave, which offers homeowners solar panels on a subscription service.

The policy provides construction and operation cover.

H&S fines on the rise

DAC Beachcroft has urged businesses to ensure they are suitably managing risks after identifying a trend in rising corporate Health and Safety fines. Fines are determined by the culpability of the company, the seriousness of the harm, and the number of people exposed.

People

Direct Line Group has named Adam Winslow as new Chief Executive Officer.

Dawn Marsden has been named Head of Claims Supplier Management and Engineering Services at esure Group.

Hiscox has appointed RSA’s mid-market Managing Director Cath Frost as UK Chief Operating Officer.

WTW has appointed Julien Bosc to the newly created role of Global Specialty Director within the company’s Insurance Consulting and Technology (ICT) business.

Adam Webb is starting a new role as a Learning Design and Delivery Manager within Aviva’ People Function.

Mike Burrows has been named Business Development Manager at Acumen Claims.

Sedgwick has named Emily Fink as its new Chief Marketing Officer.

Ecclesiastical Insurance has appointed Laura Carter as its new Customer Segment Director for the UK.

Richard Spencer has been named Business Development Lead at Allianz Partners UK and Ireland.

PoloWorks has named Matthew Wilson as Head of Claims, Polo Commercial Insurance Services.

Insurance claims consultancy SX3 has appointed Amanda Nicoll as a Non-Executive Director.

Liam Farnell has been appointed Key Account Manager at 360Globalnet.

Steven Mendel is stepping down from his leadership role at ManyPets. Luisa Barile will take over as Group CEO.

Nick Harris has been appointed CEO of Gallagher’s UK & Ireland Retail Division.

EVENTS

Upcoming Event


Motor Claims News

SYNETIQ secures safety certifications

ILC News | Motor

16-04-2024

ILC Breakfast News – Wednesday, 10 April 2024

ARC360 | Claims Essesntials | Claims Tech | Home | ILC News | MGA | Motor | New Generation

10-04-2024

Summer Networking Event set to bring industry together 

ILC News | Networking Lunch

10-04-2024

Insurer Partners

AGEAS
INSURE THE BOX

Industry Body Partners

Insights Partners

Motor Corporate Partners

ACTIVATE GROUP
BHR Assist Insurance Services
INNOVATION-GROUP
KENNEDYS
SYNETIQ