All Insurtech UK articles – Page 48
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NewsTech & Innovation Awards finalists tell their inspiring stories
The finalists for this year’s Tech and Innovation Awards presented their submissions in front of a panel of expert judges on Wednesday. The Insurance Times editorial team was at the scene to talk to some of the shortlisted candidates about why they entered the Awards and ...
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NewsMarsh and Chaucer do first deal on new London market platform
Marsh and Chaucer have bound the first risk on PPL, the London market’s newly launched electronic placement system, yesterday morning. Marsh was the broker for the standalone terrorism risk bound on the platform, and Chaucer the underwriter. PPL went live yesterday for standalone terrorism risks – ...
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NewsGovernment launches automated car insurance consultation
The government has launched a consultation on rule changes that will pave the way for automated cars to be used on the country’s roads. Under the proposals, rules will be changed so automated vehicles can be insured for road use. The Highway Code and regulations will ...
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NewsLondon market electronic placing platform goes live
PPL, an electronic placement platform for the whole London market, has started trading today. Brokers and underwriters are now exchanging information on standalone terrorism risks, the first class of business to go live on PPL. Electronic placement of risks has long been an aim of the ...
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NewsMarkerstudy buys telematics broker Drivology
Insurance and broking group Markerstudy has bought app-based telematics broker Drivology. The acquisition will add over 6,000 policyholders to Markerstudy’s retail division. Drivology specialises in smartphone app-based car insurance. The company’s app monitors how safe a driver is to determine motor insurance premiums. The app determines ...
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NewsTech & Innovation Awards 2016 shortlist announced
An extensive array of technology firms, insurers and brokers have been shortlisted for the Insurance Times Tech & Innovation Awards 2016. These prestigious awards recognise the best applications of technology in UKGI. It is a celebration of how insurance firms and their technology partners are meeting ...
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NewsChannel Syndicate appoints new head of technology and cyber insurance
Tom Allen has joined Lloyd’s managing agency Channel Syndicate’s new innovation division as head of technology and cyber insurance. Channel, a subsidiary of Lloyd’s reinsurer SCOR, said the innovation division will look at new technologies and emerging risks, including cyber. Allen worked as a lawyer before ...
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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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AgendaStart-ups on insurers: ‘It is like you are in a pinball machine’
Start-ups speak out on the difficulties and frustrations of working with insurance companies.
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NewsRolls-Royce unveils 'luxury' driverless car
Rolls-Royce has unveiled its first driverless car which it claims is the “the future of luxury mobility”. The Rolls-Royce Vision Next 100 has no steering wheel, only one door and a virtual assistant. Instead of a chauffeur the vehicle will be controlled by a female-voiced artificial ...
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NewsInsurers must prepare for big changes as driverless era looms
The UK motor insurance market must prepare itself for legislation changes, huge falls in premium income and fewer crashes as driverless vehicles become reality, research firm Thatcham said. The firm said that by 2021 driverless cars will be able to go on motorways and that by ...
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NewsGeneral insurers to hire more as disruption fears grow
General insurers are looking to hire more people as their fear of being disrupted increases, according to the latest quarterly CBI/PwC financial services survey. The survey found that the top three reasons for general insurers expanding their workforce is to improve efficiency, provide new products and ...
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NewsPIB launches telematics-based fleet product
PIB has launched a telematics-based insurance product for the fleet market. The broking group said the product uses telematics data and risk management to reduce costs for fleet operators. The product uses driver behaviour and attitude data to influence the insurance premium paid as part of ...
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Online onlyCustomers should push industry to reinvent itself – KPMG
Customers should be the “inspiration” for insurers to reinvent themselves, after KMPG research found insurers focus more on complying with new regulations instead. The report says insurers are failing to adapt to changing customer needs and technology, with 57% of executives admitting that efforts to transform ...
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NewsPwC and Z/Yen launch global study into benefits of blockchain
PwC and blockchain consultancy Z/Yen are collaborating on research to identify the potential benefits of mutually distributed ledger (MDL) technology for wholesale insurance. The global research report will be published in July alongside a prototype proof of concept being developed by PwC at its blockchain research ...
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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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Online onlyDAC Beachcroft launches hub to boost insurance innovation
DAC Beachcroft has set up Innovations Lab to promote technology processes and products to a reluctant insurance industry. Speaking at the launch event, DAC Beachcroft Claims Solutions Group chief executive Craig Dickson (pictured) said that there are daily calls for the insurance industry to be more ...
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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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AgendaInsurers lack a ‘culture of innovation’, research says
Half of the members of risk managers’ association Airmic believe their insurers are “hardly innovative” or “not innovative at all” in developing relevant cover, according to research by Airmic. The report highlights that only 1% of Airmic members view their insurer(s) as “highly innovative”, and that ...
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Online onlyTech & Innovation Awards: Looking for this year’s technology stars
Nominations for the 2016 Tech & Innovation Awards close soon. Last year’s winners talk about the difference an Insurance Times Technology Award has made
