ILC ARTICLE

ILC Breakfast News – Wednesday, 28 February 2024


Home

Conference to explore environmental and tree management issues

ILC’s Home & Property Specialist Subsidence Conference is set to explore the latest environmental issues and tree management challenges during the final session of the day.

Following previous sessions during the day looking at 2018 and 2022 surges and considering triage, early decision making and solutions, the afternoon will concentrate on how the sector best advances its relationship with tree management and appropriate solutions.

What shape is the claims process heading towards?

An insightful panel debate held during ILC’s Home and Property Claims Conference recently considered the factors influencing the claims process, and how technology, inflation and customer expectations will change claims in the future.

Taking part in the debate – What shape is the claims process heading towards? – which was hosted by Home and Property Chair, Alan Soutar, with Laura Lazarus, Head of Home Claims Operations, Aviva; Angela Kelly, Managing Director – Home Claims Services, Sedgwick International UK; Connie Beasley, Head of Home Claims, First Central Insurance; and Tom Simpson ACII, Head of Technical Claims, NFU Mutual.

Government unveils new sustainability consultation

The government has launched a new consultation around energy efficiency and reducing the carbon emissions of new homes and non-domestic buildings.

This consultation, aimed at builders, manufacturers, authorities and suppliers, will conclude in March.

CLC launches new pilot

The Construction Leadership Council is seeking clients and contractors to take part in a pilot, run in conjunction with Cranfield University, aimed at establishing a quality metric as a viable alternative to withholding cash retentions as a form of insurance against defects.

Gelders Group earns gardening grant

Gelders Group has been awarded a grant to create a garden for children with special educational needs and disabilities (SEND) at its headquarters in Sturton by Stow, Lincolnshire.

The group has received a grant of £1,230 from the Gardening with Disabilities Trust, and has also raised a further £4,258 through a quiz, auction and bumper raffle.

Motor

ABI publishes plan to tackle insurance costs

The Association of British Insurers has published a 10-step roadmap intended to tackle rising insurance costs for drivers.

This comes after the EY reported that for every £1 paid in premiums last year, insurers incurred £1.14 in claims and expenses.

DAC publishes quarterly reviews

DAC Beachcroft has published its quarterly casualty data and motor data reviews. The documents feature analysis and forecasting on motor, casualty injury and disease claims in the MOJ and OIC portals.

The key to vehicle security

Howden has published guidance for drivers on how they can better protect their vehicles from keyless car theft.

This comes after the Office for National Statistics revealed there were 130,389 vehicles stolen in 2022, an increase of 24.9% from the previous year.

Guardian questions motor premium hikes

The Guardian has reported that UK drivers under the age of 43 face motor insurance increases of 58% this year.

It suggests rises in repair costs do not account for such steep inflation and is calling for an investigation from the Competition and Markets Authority.

EY joins F1 grid

EY is supporting F1 team MoneyGram Haas to improve efficiencies within its supply chain. It will implement its Microsoft Dynamics 365 Finance and Supply Chain solution to enable mobile transactions, live parts tracking, and greater historical insights.

£150,000 credit hire claim ‘dishonest’

A court has found a credit hire claim for nearly £150,000 to be ‘fundamentally dishonest’ after the claimant sought £1,400 for motorcycle damage and nearly £146,000 for credit hire charges incurred over 511 days.

Keoghs said the case ‘serves as a reminder to those pursuing extraordinarily high-value claims that they will be scrutinised and challenged robustly.’

Claims Essentials

Panel discussions set to explore realities of External Vs Internal talent

ILC’s New Generation in Claims conference will feature two key panel discussions to spell out the realities of both the challenges and opportunities when it comes to External Vs Internal talent focus.

The two panel discussions will separately focus on: the diversity, equity, and inclusion (DE&I) challenge across the wider talent market and ask what we can expect to see for the remainder of the year, as well as highlight any other challenges envisaged for 2024; the second session will explore how we can retain talent in an effective way that takes individuals on a journey internally rather than seeking external opportunities.

Expert view: The opportunities of Consumer Duty

Insurance experts set to join ClaimsTech – The Pitch 2024 have shared 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.  

Joining the panel at this year’s event is Greg Cole, UK Claims Director at Aioi Nissay Dowa, who believes that although the industry is starting to settle into a more stable pattern there are still variations and challenges.

ABI to publish AI governance guide

The Association of British Insurers (ABI) is working with experts to produce a guide to responsible AI innovation.

Focused on consumer outcomes, the first sector-specific guide will set out how insurers and those in the long-term savings industry can work within the UK government’s five principles around accountability, transparency, fairness, safety, contestability and redress.

Sedgwick saves nearly £50m in fraud costs

Sedgwick has reported that its international claims fraud strategy saved its clients £49.4m last year.

How to accurately evaluate AI’s role in your APP fraud strategy

Synectics Solutions has warned that AI alone will not prevent increasingly sophisticated fraudsters.

It urges companies to integrate AI solutions with expert handlers and other data sources to avoid biases and reduce the likelihood of honest transactions being flagged.

FCA praises Consumer Duty progress

In a speech delivered at KPMG, Sheldon Mills, Executive Director, Consumers and Competition, FCA, has praised the progress firms have made since Consumer Duty was introduced, with 37% of companies already changing fee structures, but he said the greatest challenge remains around meeting fair value and price.

MGA

Asbestos risks still prevalent

Arch Insurance has warned that the risk of asbestos is still high, pointing out that it was widely used in construction in the 1950s to 1980s in schools, hospitals and other buildings.

This comes after the Health and Safety Executive (HSE) revealed that asbestos remains the biggest cause of work-related deaths in the UK, with more than 5,000 deaths per annum and an estimated to cost the insurance industry over £200m each year. 

Industry News

M&As fall to 10-year low

Clyde & Co’s Insurance Growth Report has revealed that the global volume of mergers and acquisitions hit a 10-year low in 2023, with political instability, inflation and a reluctance from private equity firms dampening enthusiasm.

However, it expects insurance deals to rebound this year.

Latest Insurance DataLab research reveals decline in Customer Experience, with a significant fall in claims performance

Latest Insurance DataLab report shines a light on customer experience, and it makes for a worrying read. 

The 2023 Insurance DataLab Customer Experience report has revealed a decline in the customer experience offered by insurance companies, with the average score falling to 68% from 69% a year earlier.

New Generation Interview: Lauren Wheatley, Apprentice Panel Beater, Activate Repair Warrington

Lauren Wheatley is an Apprentice Panel Beater at Activate Repair Warrington. In 2023 she was a finalist in the Apprentice of the Year category at the Bodyshop Excellence Awards.

Here, we ask her why she joined the industry and how she’d like to see it evolve in the coming years.

Ecclesiastical launches new risk self-assessment tool

Ecclesiastical has launched a tool to help organisations identify weaknesses in their risk management approach.

The Ecclesiastical Risk Maturity Assessment tool will also provide a bespoke action plan to bolster risk management.

Absenteeism on the rise

WTW’s Absence Management Survey has revealed that 34% of UK employers reported a rise in absenteeism in the last year, with each employee missing an average of 4.8 days a year.

People

Carl Gibbs has been promoted to Commercial Director at the Farcroft Group.

LKQ Bodyshop Division has appointed Jodie Mullard as its new Channel and Technical Director.

Sedgwick has announced that David Arick will join as Managing Director, Global Risk Management. 

Clearspeed has appointed Allison Albrecht and Jeff Mandricks to its enterprise sales organisation. Jeff will focus on leveraging AI technology to help insurers reduce spending while Allison will support growth with US clients and partners.

CoreLogic has promoted Kevin Greene to Executive, GM Real Estate Solutions.

ERS has appointed Tom Cummings as Head of Counter Fraud.

EY has named Matt Taylor as a new partner in its UK financial crime consulting business.

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Motor Claims News

ILC Breakfast News – Wednesday, 10 July 2024

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

10-07-2024

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