ILC ARTICLE

ILC Breakfast News – Wednesday, 6 June 2024


Motor

ARC360 line-up revealed

Chris Downing, Head of Sales & Operations, Stellantis; Marc Holding, Managing Director, The Vella Group; and Victoria Turner, Executive Director, Ryemarc Group are the latest key persons of influence revealed for ARC360’s conference agenda.

Taking place on Thursday 27 June 2024 at the Manufacturing Technology Centre (MTC) in Coventry, the ARC360 conference is set to deliver the highest calibre of attendees, contributors and debate in the UK body repair industry event calendar.

Consumer Duty best practice tips

Activate Group has produced a free Consumer Duty guide providing best-practice tips to help insurers work with their non-regulated suppliers to meet regulatory guidelines.

Gemini announces NCR acquisition

Gemini Accident Repair Centres has expanded its footprint in the South West with the acquisition of Swindon-based NCR Bodyshops.

The deal, which ensures the NCR team remains in place, increases Gemini’s repair capacity in the region to more than 1,000 vehicles annually.

EV transition in Europe

The ACEA has produced a new report assessing Europe’s transition to electric vehicles and highlighting the steps needed to support further electrification, including a wider charging network, additional incentives for consumers, and smarter regulation to drive continued change of the car parc.

Spotlight on vehicle cyber security

ERS hosted a webinar with vehicle cyber security expert Ken Munro focusing on recent trends, vulnerable vehicle models, and new security measures.

Investment critical to bridging skills gap

A new report by Allianz has emphasised how the growing skills gap is impacting vehicle repair in the UK aftermarket and underscored the need for training and investment throughout the sector to ensure continued safe repairs.

Caha! to close down

Car management app Caha!, owned by DLG, is closing down. Anybody using the app can continue to do so, but features such as fuel prices, reminders, and parking and EV charging location finders will not be available after 23 June.

Home

WTW unveils new climate change tool

WTW has launched Climate Quantified, a new online Software as a Service tool to help companies assess the financial impact of climate change on their own operations, their customers and their supply chain partners.  

Home insurance prices surge by 10%

The average quoted price of home insurance has risen by 10.3% in the last three months, according to the latest Consumer Intelligence Home Insurance Price Index.

This is the highest quarterly rise in 10 years and means quoted premiums have now risen 41.6% in the last year.

Complex quote journeys turn customers away

Consumer Intelligence has highlighted the impact of complicated quote journeys on customer retention, revealing substantial differences between insurers in the length and complexity of their processes.

New MD highlights growth opportunities

New Evolution Claims Management Managing Director Russell Crewe has assessed his first few months at the company, praising the team for their adaptability and discussing future opportunities for organic growth.

Sustainability gains of going digital

Sedgwick has published a new report comparing the environmental benefits of digital assessments of claims to site visits, and revealed how best use of technology can reduce scope 1, 2, and 3 emissions.

New collaboration between Hastings Direct and Service Certainty imageproof  

Hastings Direct, an agile, data and digitally focused insurance provider, has selected Service Certainty imageproof to support its continued growth in the Home insurance market.

Claims Essentials

New key additions to ClaimsTech agenda

Gary Barker, Managing Director of Trinity Claims; Greg Cole, Claims Director at AND-E; and an exclusive contribution from Consumer Intelligence are the latest line-up additions to ClaimsTech – The Journey.

Set to take delegates on a claims journey where technology and consumer meet, with perception Vs reality put under the spotlight, ClaimsTech – The Journey takes place on 3 July 2024 at etc venues London.

A revolutionary approach to recruitment

BBC The Apprentice winner and successful recruitment entrepreneur Lee McQueen has urged businesses to ditch the CV when it comes to finding new talent. 

Delivering a keynote address to delegates at ILC’s New Generation in Claims event recently, he said finding the right fit requires a profound assessment of the person rather than judging them by what is written on a piece of paper. 

Confidence grows among CEOs

Confidence is growing among UK CEOs, with the latest EY CEO Pulse Survey revealing that 61% are more optimistic about future profitability than they were 12 months ago.

The survey also found that 50% are investing in new technologies such as AI to drive growth.

AI numbers double

McKinsey’s latest Global Survey on AI has revealed a sharp increase in the number of organisations using GenAI. It found that 65% of respondents regularly use the technology, which is almost double the percentage reported in McKinsey’s last survey 10 months ago.

Job turnover slowing

Employees are choosing to stay put rather than risk job uncertainty, according to research carried out by WTW.

It found that 54% are opting to stay in their current roles compared to just 45% in 2022, while only nine per cent are open to other offers compared to 21% two years ago.

GenAI uptake on the increase

Data from Deloitte’s 2024 Digital Consumer Trends report has found that 60% of people in the UK are now aware of GenAI, and 36% have used it. This is up from 26% just 12 months ago.

Gender pay gap divide closing slowly

PwC research has revealed that the gender pay gap has fallen 0.4% in the last year and 1.6% since 2017, with almost 60% of organisations reporting a decrease in their pay gaps in the last 12 months.

New solution could cut fraud by £112m

A new proof-of-concept project undertaken by Synetics Solutions for Pay.UK could save £112m lost to transaction fraud each year.

Synetics worked with industry partners on a pilot that trialled a new solution using predictive intelligence to detect fraud before it occurs.

MGA

Lloyd’s announces Bermuda collaboration

Lloyd’s has signed a Memorandum of Understanding with the Bermuda Monetary Authority to work together on managing regulatory developments, innovation, and training opportunities.

Battery failure

Pen Underwriting has examined the power and dangers of lithium-ion batteries after the London Fire Brigade revealed that 77% of e-bike fires in the first six months of 2023 were the result of battery failure.

Industry News

ABI and GIA sign MoU

The Association of British Insurers (ABI) and Gibraltar Insurance Association (GIA) have signed a memorandum of understanding (MoU) to promote cooperation between the two organisations and share information.

Markerstudy completes Atlanta deal

Markerstudy Group’s proposed merger with Atlanta has been approved by the FCA.

The new combined business, Markerstudy, will deliver multiple insurance products, transacting more than £3bn in Gross Written Premium each year.

Captive insurance on an upwards curve

Sedgwick has made the case for captive insurance and considered new trends after revealing a 20% growth in the sector in the last decade, with an even sharper upwards trajectory in recent years.

People

Carpenters Group has appointed Darren Hall as its new Chief Operating Officer and Lynda Thwaite as its new Head of Brand and Communications

Peter Graham has announced he will step back from his role as COO of Blagrove Underwriting Agency but will remain a director.

The Personal Finance Society Board has appointed Piers White as independent Chair, while Debbie Mitchell and Mike Crane join him on the board.

McLarens has promoted Jon Clark to Chief Operating Officer 

Brittany Jones has been named Head of Transformation Service Delivery at Royal London.

Aon has appointed Nikki McCulloch as Head of Claims – UK Commercial Risk.

Joe Baynham has been appointed Business Development Manager at Audatex UK.

Kate Nash is stepping down after 12 years in her role as Outsourcing, Supplier Management and Procurement Leader at Ageas.

Stephen Walker has joined Camelot as an expert advisor.

Gallagher has appointed Paul Dixon as Commercial Director – Housing.

John Fearn has joined Gallagher Bassett as Chief Operating Officer.

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