All articles by Ima Jackson-Obot – Page 10
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NewsTravelers enters direct channel with cover for small businesses
Travelers Europe has launched a direct SME proposition for small businesses in the UK with fewer than 10 employees and less than £2.5m in revenues. Key points: Offering is Travelers’ first big entry into direct channel UK Move made in response to growing SME ...
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NewsAXA Global unveils new five-year plan
AXA Global has revealed its Ambition 2020 strategy. The new five-year plan centres around two strategic priorities: focus and transform. Key points: First priority is continued focus on selective growth, cost efficiencies and technical margin improvement Insurer wants to grow in commercial lines AXA ...
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NewsAon Benfield makes senior hire to head global cyber practice group
Aon Benfield has hired Luke Foord-Kelcey to co-head its global cyber practice group. Based in London, Foord-Kelcey will be responsible for developing Aon Benfield’s cyber offering to insurers and reinsurers. He will work with co-head Bill Henriques, who established the practice group. Prior to joining Aon, ...
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NewsFine firms for failing to report data breaches - MPs
MPs are calling for tougher rules that could force companies to report cyber attacks. The Culture, Media and Sport select committee said in a report yesterday that the regulator should have a “robust system of escalating fines” for those failing to report security breaches, the Financial ...
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NewsSaga makes 'good start to year' in core business arms
Saga said it has made a good start to the year across its core trading divisions in the period from 1 February to 20 June 2016. In a trading update announced today, the over-50s insurers said it was also on track to achieve its target for ...
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AgendaMeerkats and ego massaging: psychology of the new market
With the smartphone making everyone’s attention spans shorter, insurance companies need to develop technology that makes consumers feel ‘at the centre of the world’ and appeal to emotions rather than rationality
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NewsAirmic to update broker remuneration guide
UK risk manager trade body Airmic is planning to update its guide to broker remuneration. The guide, aimed at commercial insurance buyers, is intended to help clarify the status of brokers and how they are paid for their services. Key points: Airmic says broker ...
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NewsZurich names personal lines and Endsleigh heads as broking director exits
Zurich is planning to split the management of Endsleigh and its personal lines divisions. The decision follows the resignation of Patrick Cohen earlier this month who headed up both divisions. He had only been in the role for eight months. As a result Jeff Brinley is ...
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NewsGallagher: our data justifies calls for more commission
Arthur J Gallagher deserves the commission it is paid because it has more and better data than insurers, special adviser Dave McGurn has said. Speaking during an investor call McGurn, Gallagher’s former chairman of risk placement services, said that while insurers were trying to cut what ...
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NewsSurvey: FCA's TCF agenda overloading brokers
The FCA’s drive for better behaviour in the insurance broking sector is overloading firms and customers with information, according to the first Insurance Times Broker Regulation Survey. According to RWA Business Consultancy founder and compliance expert Robin Wood this overload could hinder the FCA’s Treating Customers ...
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NewsRSA extends telematics deal with Trak Global
Trak Global has extended its contract with RSA to continue providing telematics, policy administration and business information for the insurer’s More Than Smart Wheels offering for young drivers. The two-year extension follows a three-year partnership between RSA and Trak Global. RSA Global Telematics director Kenny Leitch ...
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NewsHalf of insurers fear 20% of business will be lost to tech start-ups - PwC
Almost half (48%) of insurers fear that up to one-fifth of their business could be lost to standalone fintech companies within the next five years. According a new research by PwC, this fear has been driven by annual investments in insurtech start-ups that have increased fivefold ...
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NewsEuropean regulator insurer stress test is ‘half cooked’ – Allianz
Allianz has criticised plans by the EU’s pensions and insurance regulator Eiopa for EU-wide stress tests, calling them “half cooked”. The insurer is also worried that the test results could be used by the European Systemic Risk Board, which looks for risks to the financial system ...
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NewsTelematics data helps uncover £500,000 fraud – Insurethebox
Insurance fraud cases worth £500,000 have been uncovered by telematics underwriting agency Insurethebox using data collected from black boxes inside cars. The firm said it had used the data to disprove 31 claims, involving seven accidents over five months, and taken the drivers to court. In one example, the claimant ...
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NewsRevealed: What brokers really think about the FCA
The regulator is overloading brokers and customers in its drive to improve industry behaviour. The cost of regulation and amount of paperwork were among the top reasons for broker unhappiness in our exclusive survey
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NewsBrokers need to be creative with schemes to stand out from rivals
Brokers need to be more creative if they want to make their schemes stand out in an environment of heavy competition, Commercial Express underwriting manager Jordan Gregg has said. He added that it was also important for brokers to regularly update their schemes to prevent them ...
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NewsZurich personal lines and Endsleigh MD departs after eight months
Zurich UK Personal Lines and Endsleigh managing director Patrick Cohen has resigned after less than a year in his role, Insurance Times can reveal. Cohen was appointed in October 2015. He took over from David Nichols, who had been running personal lines and Endsleigh on an ...
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NewsGreg Collins to replace Graham Clarke as Miller boss in 2017
Broker Miller plans to appoint chief operating officer Greg Collins as chief executive in 2017. At the same time Nicholas Lyons will be replaced by Graham Clarke as non-executive chairman. The announcement is part of a raft of appointments to support Miller’s board succession plans. In ...
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NewsAirmic 2016: Insurance ripe for disruption because of 'weak' structures
The insurance industry is open to being disrupted because its structures are inefficient, according to QBE European Operations chief executive Richard Pryce. During a panel debate at Airmic yesterday about innovation Pryce said weak company structures meant that firms were struggling to deliver innovative products. He ...
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NewsAirmic 2016: Insurance Act will bring period of 'chaos and muddle'
The inception of the Insurance Act is going to be followed by a period of chaos and muddle in the insurance market, delegates at the Airmic leadership debate were told. BT Group insurance and risk financing director Tracey Skinner, who sat on the panel yesterday to ...
