ILC ARTICLE

ILC Breakfast News – Wednesday, 3 April 2024


Claims Essentials

Ambassadors back New Generation in Claims programme 

ILC’s New Generation in Claims programme has been backed by Ambassadors Activate Group, Gemini ARC, Kennedys and S&G Response with others set to be announced shortly. 

Sponsored by Carpenters Group and Enterprise, ILC’s New Generation in Claims Conference 2024 takes place on 25 April at etc venues Manchester. The event was introduced last year to provide a launch pad by which the sector can contribute towards a brighter future.  

Leading names set for ClaimsTech – The Pitch

Experts representing many of the UK’s leading insurers including: Ageas, Aioi Nissay Dowa Europe, Admiral Group, Collingwood, esure, First Central Services Ltd, Hastings Direct, Insure The Box, Markerstudy, NFU Mutual, Saga, Ticker, Uber, and Zurich are set to judge this year’s ClaimsTech – The Pitch event. 

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.

ClaimsTech – The Journey taking shape  

ClaimsTech – The Journey 2024 is set to take invited insurer guests on a passage where technology and consumer meet, with perception Vs reality put under the spotlight. 

Taking place between 12.00 – 15.00 (following on from ClaimsTech – The Pitch in the morning and ahead of the BIAs in the evening) on 3 July 2024 in London, ClaimsTech – The Journey 2024 will split into specialist Home and Property or Motor technology streams to explore how technology can positively affect customer outcomes. 

Data scientists worth their weight in gold

Sedgwick’s tech outlook for 2024 predicts that the value of data scientists will increase this year as new technologies such as AI and ChatGPT enable real-time monitoring and risk-based analysis.

It also expects GenAI to become more accepted and widely adopted as the year progresses.

Bespoke Tech Radar released

Munich Re and ERGO have pooled talents to develop the Tech Trend Radar 2024, a tool created by insurers for insurers to help them identify the tech trends that are specifically relevant to their sector.

The Radar also assesses the trend’s maturity, advising which should be monitored, considered, trialled and adopted.

Marsh unveils new digital assets facility

Marsh has launched the world’s largest insurance facility for companies with digital assets.

Providing insurance capacity up to £664m, the facility provides protection for digital assets against theft, natural disasters and internal collusion.

Aioi Nissay Dowa partners with RightIndem

Aioi Nissay Dowa UK has selected RightIndem as its claims management partner.

As part of the agreement, RightIndem will provide digital FNOL and claims orchestration capabilities to integrate liability and repair decision making.  

Motor

ARC360 conference ‘gaining ground together’ 

ARC360’s ‘future technology’ themed conference is gaining ground as a growing number of sector stakeholders confirm their presence at the event. 

Taking place on Thursday 27 June 2024 at the Manufacturing Technology Centre (MTC) in Coventry the event is supported by Corporate Partners: BASF, CAPS, Copart, Entegral, Enterprise, Mirka, Nationwide Vehicle Assistance, S&G Response, Solera Audatex; along with Partners: Gemini ARC, Repairify, Prasco; and Sponsors Activate Group and Thatcham Research. 

Some insurers still undervaluing cars

The FCA has found that some insurers are still undervaluing cars when it comes to settlements.

Despite issuing previous warnings against the practice, an FCA review has found that certain insurers continue to offer customers less than their car is worth after it has been written off or stolen.

Robertsons unveils complete credit hire service

Robertsons has launched a new end-to-end modular credit hire service which includes FNOL, claims monitoring, intervention services, credit hire investigation, GTA and non-GTA payment negotiations, and credit hire fraud detection.

Customers are able to select any or all modules, providing a fully bespoke service that can be tailored to suit individual needs.

Aviva unveils first sole site in Wales

Aviva has opened its first Solus site in Wales.

Based in Newport, the new facility was opened by Group CEO Amanda Blanc, CEO of General Insurance Jason Storah, and General Insurance Chief Claims Officer Waseem Malik.

Join the team

Enterprise will host its inaugural five-a-side football tournament in May.

The tournament will take place on 9 May at Goals, Birmingham Star City, raising funds for Alzheimer’s Society and #insurersagainstalzheimers.

To support the fundraising activities and make a donation, click here.

MGA

Kova unveils PI insurance products

MGA Kova Professions has developed personal indemnity insurance solutions tailored to mid-market SME businesses in the UK.

The products leverage latest tech and deep underwriting experience to offer innovative coverage options, personalised risk assessments, and responsive claims handling.

Home

CET becomes ILC Corporate Partner 

CET, established in 1988 and today with over 300 highly skilled employees, has become an ILC Home & Property Corporate Partner. 

With a focus on customer, technology and innovation, CET oversees the home emergency policies for one in eight households, providing a range of specialist services to the insurance sector. 

RIBA reports positive outlook

The majority of UK architects expect their workloads to either increase or remain stable in the next three months, according to the Royal Institute of British Architects’ latest Future Trends Survey.

It found that 23% of practices expected workloads to increase, 26% expected them to decrease, and 51% expected them to stay the same.   

Industry News

ILC’s Brand New Summer Event

New to the ILC calendar, the Summer Networking Event will bring together insurance claims professionals, industry leaders, and key stakeholders in a relaxed, fun and engaging atmosphere.

Importantly, the event will also support ILC’s chosen charity partner – Rainbow Trust – with 10% of contribution donated to the children’s charity.

APIL withdraws government proceedings

The Association of Personal Injury Lawyers has withdrawn judicial proceedings against the government after concessions on the extension of fixed recoverable costs in personal injury cases were announced.

Amendments include making costs available for dealing with inquests and restoring companies to the Companies Register, while clinical negligence claims will only be subject to fixed recoverable costs if liability is admitted.

Market reports £3.3bn profit boon

Financial results from Lloyd’s report that the market delivered an underwriting profit of £5.9bn in 2023, up from £2.6bn in 2022. This saw combined ratios improve from 91.9% in 2022 to 84% in 2023, the strongest result recorded since 2007.

Employers face £550m annual admin bill

The Association of British Insurers has warned that government proposals to introduce lifetime provider models to tackle the problem of small pension pots could result in a £550m pa admin bill for employers.

Its survey of employers found that 63% were worried the proposed reforms will increase payroll provider costs, while 28% estimate that the reforms will require an additional five hours of staff time per month.

People

Iain Whittingham has been appointed as Managing Director at WTW.

Flock has named Lawrence Tanner as Claims Operations Manager.

Copart has appointed Declan Kay as General Manager.

Simon Hughes has been named Director – Underground Services at CET UK.

EVENTS

Upcoming Event


Motor Claims News

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

Repair costs contribute to record payouts 

ILC News | Motor

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