Motor – Page 21
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AnalysisBriefing: FCA must focus next on customers’ expectation gap following dual pricing ban
Consumer group managing director calls expectation gap the ‘number one problem in insurance’, over and above ‘sideshow’ price walking that the FCA has been focused on
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NewsACSO calls for mandatory insurance of e-scooters
The association has laid out a 10-step plan for the effective and safe legalisation of the micromobility vehicles in the UK
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NewsLack of communication from insurers leading to missed savings for motor insureds – Redtail Telematics
Only 4% of survey respondents had been informed of how telematics products can reduce premiums, according to the firm’s latest survey
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NewsAverage UK car insurance premiums soar by 6% over last 12 months – WTW
Motor insurance premiums remain ‘fairly low by historical standards’, says head of pricing
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NewsElectric vehicle increase strikes fear into motor industry and its supply chains
Insurers need to ‘fundamentally change how they price, underwrite, insure and service’ electric vehicles, says credit hire firm managing director
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AnalysisHoncho pivots into B2B embedded insurance
The insurtech hopes to support insurers as price comparison website charges soar
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News‘No doubt’ that OIC reforms have failed motor customers – Carpenters Group director
’It is completely unacceptable that consumers should have to wait so long for an effective system’, she adds
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NewsSabre posts COR of 98.9% as UK inflation reaches ‘historic highs’
The insurer also recorded a £13.6m increase in GWP year-on-year
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NewsInflation rate for motor claims settled in 2021 reached 6.2% – WTW
Average claims settlement times in Q1 2021 were two months longer compared to the same period in 2019, says the broker
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NewsCopart UK acquires Ageas’ green parts provider
The firm says the deal is an ‘important additional service’ as ESG demand fuels recycled car parts growth
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NewsNewest OIC performance data show continued decline in claims
The portal is also ‘failing’ to provide access to justice as average settlement times are increasing, according to ACSO executive director
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Sponsored ContentRate increases must be expected as inflation bites – Pearson Ham
Stephen Kennedy, director of insurance pricing at Pearson Ham, explains recent pricing movements in the motor and home insurance markets
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NewsMotor premiums see 7.8% increase during first five months of 2022 – Consumer Intelligence
Telematics products, meanwhile, have fallen in popularity as insurers plot their new pricing strategies
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NewsInsurers approximately £1.44bn out of pocket due to vehicle thefts – CMA
The ‘lack of data is disguising the true, frankly embarrassing, scale of the UK’s vehicle crime problem’, says managing director and former police detective
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NewsUK heatwave will cause increase in glass claims – Auto Windscreens
’Tracking weather and forecasting peaks and troughs is vital’ for insurers, says commercial and sales director
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NewsFraudulent car insurance fronting grows by 170% between March and May 2022 - LV= GI
To avoid any legal trouble, brokers should help parents understand how to reduce their children’s motor premiums
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NewsMotor insurance premiums set to rise 2% this year ahead of 18% uptick in 2023 – EY
Professional services firm predicts that the UK motor sector’s net combined ratio will be loss-making in 2022 and 2023 and that the ‘environment will be tough’
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IT InterviewSteve Gaywood: Cost of living crisis sees insurance customers ‘game the system’ and turn to fraud
Although consumers may be tempted to ‘cut corners’ when it comes to their insurance provision, this will only lead to ‘a false economy’, according to head of counter fraud
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NewsM&A activity in the MGA market is not fuelled by private equity – MUM
Plus, data is becoming increasingly important as it provides ’some real insight into your numbers’, which insurers want, says chief executive
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AnalysisCollaboration between insurers and CHCs is essential in the face of squeezed supply chain
The agreement between the two industries needs ‘urgent surgery’ says credit hire trade body chair
