ILC Breakfast News – Wednesday 3 May 2023

ILC tackles talent conundrum with New Generation event

More than 120 HR insurance claims professionals gathered at etc.venues Manchester on 26 April for the inaugural ILC New Generation in Claims event, which addressed the lack of new talent entering the industry and discussed strategies for attracting more skills to the sector.

The event considered recruitment in the current economic climate, the challenges and opportunities of hybrid working and how technology is reshaping the skills needs of the insurance claims workforce.

Industry experts shared insights during a full schedule of presentations, with panel discussions focusing on key issues such as equality, engagement and empowerment.


Applications open for ClaimsTech – The Pitch

Applications for start-up/scale-ups to enter ILC’s inaugural ClaimsTech – The Pitch are open with entries already coming in. To enter, click here, and complete the application form.

As revealed last week, 10 expert insurers have already pledged their support for the event and will be joined by panel of investors during the exclusive session.

Clear path ahead for Clearspeed

Clearspeed has reported a significant 200% client growth during 2023.

WTW unveils smart solution Neuron

WTW has announced the global launch of Neuron, a sophisticated digital insurance platform that uses digitisation, automation and data to help underwriters and brokers connect and trade more easily.


Specialist EV event gearing up for July

ARC360’s specialist EV event is gearing up with new names being added to the agenda, a swell of interest from market and tickets now available via the ILC website.

Taking place on Tuesday 4 July at the Manufacturing Technology Centre (MTC) in Coventry, ARC360’s specialist electric vehicle (EV) event will provide a rounded view of how the sector is advancing towards an electric future, with attendees hearing from insurers, vehicle manufacturers, repairers and many others throughout the supply chain to understand more of how and why the sector needs to prepare.

Feature interview: Kevern Thompson, CAPS

Here, we ask Kevern Thompson, Commercial Manager, CAPS how supply chain partnerships have evolved in recent years and how the platform is helping to develop trust within the sector.

Wejo joins global network

Smart mobility solutions provider Wejo Group has joined the Rekor Partner Network, a global ecosystem of technology, data, and solution providers working together to provide a detailed view of the world’s roadways.

Its data supports transportation agencies, corporations, and private firms develop transport solutions and congestions strategies.


CPA warns of challenging times

The Construction Products Association is predicting that output will contract by 6.4% this year, driven by sharp falls in both private new housing and private housing repair and maintenance.

Its Spring Forecast warns that private housing will experience the sharpest contraction with a 17% fall in output.

Verisk solution to automate property claims reviews

Verisk has enhanced its product portfolio with the launch of XactXpert, which enables insurers to automate and accelerate the review of property estimates from days to minutes by integrating customised, claim estimation guidelines into their digital workflows.

Rapid Relocate launches new site

Rapid Relocate has unveiled its new, user-friendly website while also announcing the appointment of Caroline Findlay to the role of Managing Director. She replaces Rhian Garbett-Edwards, who has retired.

Cyber insurance drives continued inflation

Marsh has revealed that global commercial insurance prices increased four per cent in the first quarter of 2023, matching the growth rate in the final quarter of 2022.

Its Global Insurance Market Index found that cyber insurance pricing was up 11% in the first three months of the year.


Brand new for Bspoke Group

The brands of UK General Insurance and the Precision Partnership Group have been brought together under the new brand name, The Bspoke Group.

The Group incorporates a collection of multi-class niche and specialist MGA insurance businesses.

Verve buyout confirmed

Verve Risk Partners, a division of Castel Underwriting Agencies, has announced a management buyout from the MGA formation platform.

Verve underwrites US professional and management liability risks, with a focus on insurance companies.

BMS announces Australian acquisition

Independent specialist insurance and reinsurance broker BMS Group has acquired GARD Insurance, which includes ALE underwriting. GARD provides public and products liability to small to multinational businesses. 

Industry News

Opportunistic fraud surges 82%

The City of London Police’s Insurance Fraud Enforcement Department (IFED) has warned of a dramatic rise in opportunistic insurance fraud after uncovering 18 such cases worth £216,875 in just two months.

CII unveils five-year strategy

The CII has announced a new five-year Strategic Plan. Phase one (2023) will focus on addressing legacy systems issues and returning the CII to a surplus position, while the subsequent phase (2024-2027), will focus on product and service development and skills.

Meanwhile, the CII is also moving away from its three Society brands for insurance brokers, claims and underwriting professionals and will instead refer to specialist, professional communities of members led by boards of expert practitioners.

Business leaders upbeat for 2023

Optimism is high among UK business leaders, with 90% predicting positive growth this year, according to Mazars’ latest C-Suite Barometer. This builds on the 87% who reported increased revenues last year.


Davies has appointed Georgia Brown to the role of Network Manager of motor claims.


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