ILC ARTICLE

ILC Breakfast News – Wednesday, 7 February 2024


Show some love

Twenty-nine organisations are now signed up to this year’s ILC Day Wall of Love in support of children’s charity Rainbow Trust.

The Wall of Love – a symbol of the industry’s support – highlights the logos of those organisations that have pledged to raise over £250 for the charity as part of ILC Day on 14 February 2024.

To take part, visit ILC Day 2024 | Rainbow Trust Children’s Charity and sign up by committing to raise a minimum of £250. In return your company logo will be featured on ILC’s ‘Wall of Love’ which will be promoted regularly in the lead up to the event and on ILC Day 2024.

Rainbow Trust Children’s Charity supports families who have a child with a life-threatening or terminal illness which in England is estimated to be 86,625 children. Rainbow Trust’s Support Workers provide a lifeline to these families and children.

Home

Specialist subsidence event agenda released

The agenda for ILC’s Home & Property Specialist Subsidence event has been released – exploring the progress and challenges associated with the 2022 subsidence surge.

Countdown on for Home Claims Networking Lunch

The countdown is underway for ILC’s star-studded Home & Property Claims Networking Lunch with Gold Sponsor tables now available to book. 

Taking place on 17 May 2024 at the Grand Connaught Rooms, London the event is headline sponsored by Corelogic and backed by ILC Home & Property Corporate Partners Allied Universal, Claims Consortium Group, Clearway, Corelogic, DAC Beachcroft, Geobear, ICAB, Innovation Group, Sedgwick and Verisk. 

Tech and trust critical to achieving common goals

Technology advances mean a new, transparent and streamlined relationship between insurers and suppliers is within the sector’s grasp.

Owen Pugh, Chief Operating Officer, Claims Consortium Group, said that quicker decisions, improved customer service and lower costs could all be achieved if the industry took time to reimagine the claims process and exploit existing solutions to make it a reality.

He was speaking alongside Steve Knight, Claims Supply Chain Manager, AXA UK; Ian Hogarth, Managing Director, Home Repair Network; and Mike Lenn, Director, Ecologia Environmental Solutions, during a panel debate at ILC’s Home and Property Conference.

Gateley celebrates IIP accreditation

Gateley Smithers Purslow and Gateley RJA have been being awarded platinum and gold status of the Investors in People (IIP) We invest in people accreditation.

The internationally recognised standard for people management is awarded to companies that demonstrate investment and dedication in creating an engaging, supportive and productive workplace culture.

Construction apprenticeship numbers on the decline

New figures from the Department for Education have revealed a six per cent drop in construction apprenticeships in the last year.

It found that 24,530 apprentices joined the sector in 2022/23, representing a fall of 26,080. Meanwhile, the number of under-19s beginning an apprenticeship was 12,390.

Sedgwick highlights short-term housing concerns

Sedgwick has identified key challenges impacting the short-term and temporary housing market following a catastrophe.

It has revealed that demand has risen substantially with more employees who are working away and displaced policyholders wanting temporary housing as opposed to hotels.

Meanwhile, supply disruption is also a growing concern with building materials imported from the North America and Asia.

EVO to host digital skills event

Digital agency EVO will host a Young Enterprise Transforming Futures Event at the University Centre Taunton on 28 February.

The event will see companies showcase their businesses and products, with talks focused on skills and recruitment.

RIBA unveils smart building support

The Royal Institute of British Architects (RIBA) has published its Smart Building Overlay to the RIBA Plan of Work, a free resource to support the implementation of smart building technology in the design of newbuild, retrofit or refurbishment projects.

The Smart Building Overlay includes smart building terminology and highlights the benefits of embedding new innovations from the outset.

Residential dominates city development

New research has revealed that city centre living is dominating development activity in UK cities.

The Deloitte Regional Crane Surveys found that more than 29,000 city centre homes were either under construction or completed last year in Belfast, Birmingham, Leeds, and Manchester.

Motor

EY forecasts further growth for UK automotive

EY UK is predicting another strong year of growth in the new car market, after the Society of Motor Manufacturers and Traders reported that sales grew a further 8.2% in January to 142,876 registrations.

David Borland, EY UK & Ireland Automotive Leader, said, “The market is showing robust momentum as it heads into 2024 with further volume increases forecast for the year.”

Solera tackles vehicle theft with new solution

Solera has launched an innovative tool for stolen vehicle recovery.

Released under the LoJack brand of solutions, the new tool leverages data-driven insights to provide authorities with advanced capabilities to track and recover stolen vehicles.

S&G Response identifies top 10 crash causes

S&G Response has revealed the 10 most common causes of road accidents on UK roads.

They include rear-end collisions, hitting potholes, driving through flood water, topping up wiper fluid with water, single and multi-vehicle collisions, driving on bald tyres, driving tired and ignoring minor damage.

Premiums spike another 12%

New figures from the Association of British Insurers have found that motor insurance premiums rose 12% in the fourth quarter of 2023, up from £526 in the third quarter to £627 in the last three months of the year. Taking the year as whole, prices rose by more than 25% from 2022.

Meanwhile, the average quoted price of van insurance rose by 35.9% last year.

Steer announces Lovells and Pronto acquisition

Steer Automotive Group has acquired all 11 East Midlands-based Lovells Auto Body Centres and Pronto Accident Repair Centres.

Lovells and Pronto boasts approvals from the likes of BMW, Tesla, Mercedes-Benz Van, Audi, VW Skoda Seat, Kia and Hyundai.

Silverlake supports Ukraine effort with first aid kits

Silverlake is partnering with charity UK Sunflower Aid to support refugees in Ukraine. It is sending recycled vehicle first aid kits to the country as well as fuelling all the vans needed to transport them there.

To date it has collected and shipped over 1,500 first aid kits from its Sheffield site.

Claims Essentials

More names join expert line-up for ClaimsTech – The Pitch 2024

More leading names from across the insurtech space have joined ILC’s expert panel for 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. 

Shift builds on ILC triumph

Shift Technology has been building on the success of winning ILC’s inaugural ClaimsTech – The Pitch event last September with a number of significant developments during the final quarter of 2023.

Leading insurers show support for New Generation in Claims

More than 20 leading figures from the world of insurance claims have already committed their support to ILC’s New Generation in Claims event 2024.

Sponsored by Carpenters Group and Enterprise, the New Generation in Claims Conference 2024 takes place on 25 April 2024 at etc venues Manchester. It aims to support insurers and the wider claims community with their new generation strategies and building the future of talent via multiple channels.

Industry leaders unveil AI Code of Conduct

Industry leaders have come together to introduce the AI Code of Conduct aimed at ensuring transparency, accountability, and fairness in the implementation of artificial intelligence (AI) across the insurance claims sectors.  

The Code emphasises the need for justifying AI-influenced decisions, maintaining human oversight, and addressing potential biases. 

Mastercard adds AI to anti-fraud solution

Mastercard is enhancing its Decision-Intelligence solution, which helps to combat fraud, by introducing new generative AI technology that will scan a trillion data points to predict if a transaction is genuine or not.

The solution already underpins more than 143 billion transactions each year.

MGA

NBS Underwriting expands business insurance portfolio

NBS Underwriting has launched Multi-Location Hospitality Insurance, a new policy covering a diverse range of businesses such as licensed trade, food and eateries, hotels, and shops with up to 20 locations.

Industry News

Lucida Group becomes latest ILC Insurer Partner

ILC is proud to announce Lucida Group as its latest Insurer Partner.

Lucida Group was formed by bringing together Bennetts Motorcycling, Moorhouse Group and Right Choice Insurance Brokers.

Evolving insurance risks revealed

Kennedys Law’s Global forecast 2024: Evolving Insurance Risks report has identified the key concerns for insurers.

It has pointed to key challenges around increasing regulation and the ethical adoption of AI, while adding that the ESG agenda and claims inflation remain serious and ongoing issues for the industry.

Aviva adds wellbeing to business products

Research from Aviva has found that 17% of business leaders cite staff mental health and wellbeing as one of their biggest risks.

In response it has now announced that counselling and mental health training for managers will be included in its Group Accident and Business Travel products.

ILC named charity star

I Love Claims has been named as ‘star of the month’ by charity partner Rainbow Trust Children’s Charity, after raising upwards of £60,000 at its Motor Claims Networking Lunch.

Trust no issue for top 10 brands

Consumer Intelligence has named the most trusted insurance brands of 2023, based on a survey over 48,000 home and motor insurance customers.

In motor insurance, the top 10, in alphabetical order, were AA, AXA, Co-op, Direct Line, John Lewis, LV, NFU Mutual, Saga, Santander, and Tesco.

In home insurance, the top 10 were Co-op, Direct Line, First Direct, John Lewis, Lloyds Bank, M&S, Nationwide, NFU Mutual, Prudential, and Saga.

WTW announces coral commitment

WTW has introduced a new parametric insurance policy that will help protect the coral reef system of the South Pacific Ocean’s volcano-formed Lau Group of islands, one of the most vulnerable and isolated places on earth.

People

ILC ClaimsTech Lead Jonathon Valentine has joined the CIO Online Advisory board for 2024.

Gallaher Bassett UK has appointed Manan Sagar as CEO.

Mark Tyrell has been appointed Chief Information Officer at Ageas UK.

David Simmonite has been named Account Director at Copart UK.

Repairify has announced a significant reshuffle of its leadership team, with Craig Edmonds appointed President of asTech, Cris Hollingsworth named Co-CEO of Repairify Global Holdings and Rick Keister joining the board as Co-Chairman.

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