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AI usage in insurance is an ‘evolution, not revolution’ – Hiscox
Briefing: Ifed showcases suite of enforcement tools and partnerships in fight against fraud
Nearly half of brokers consider the regulatory environment in the UK insurance market ‘too restrictive’
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Motor
News
Uptick in vehicle and deer collisions could ramp up springtime motor claims costs – Zurich UK
Insurer records 45% increase in deer vehicle collision claims in April and May since 2019
News
Covéa Insurance plans to re-enter EV insurance market in 2025
The underwriter first pulled back from insuring fully electric vehicles as part of its relationship with retailer John Lewis in 2023 after getting cold feet about repair costs
News
Ageas UK is ‘very interested’ in embedded insurance – Ant Middle
The personal lines insurer is exploring new embedded product propositions ‘right now’ as chief executive believes this model is ‘really important to the future development of our business’
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UK’s EV appetite must be reflected in courtesy car claims experience – Europcar
James Roberts, head of insurance sales at Europcar, talks through the challenges bodyshops and the motor supply chain are facing in matching customer expectations around electric vehicle rentals versus current available supply
News
Fraud on the rise as Aviva reports fake claims up 14% in 2024
‘Investment in advanced analytics, machine learning models and continuous training for our people has significantly improved our fraud detection rates,’ says counter fraud leader
News
Crash for cash scheme lands Bradford man in prison for two years
’Higgins thought he could take his insurer for a ride and defraud it out of a significant sum of money. Fraudulent claims like this push up the cost of insurance premiums for honest policyholders,’ says detective constable
IT Interview
Ant Middle: Organic growth focused plan seeks to put Ageas UK top of the personal lines pile
The insurer has ‘earned the right to think bigger as a business’ and topple the likes of Allianz, Axa and Hastings from the personal lines podium using product expansion, AI investment and a commitment to broker partners, says chief executive
News
Deal-linked Esure posts profit of £57.7m for 2024
’We have strengthened the business with a focus on optimising customer experience on our new platform and expanding our product offering,’ says chief executive
News Analysis
In Focus: Was Gap insurance ‘unfairly targeted’ by the FCA?
’The way [the FCA has] gone about it, closing down an entire market, is unheard of,’ says managing director
News
Motor market currently ‘at about the softest point in the cycle’ – Geoff Carter
‘Our view is that the market is substantially underpriced on new business at the moment – the pendulum has swung too far,’ says chief executive
News
Insurers must prepare for the ‘messy middle’ of journey towards autonomous vehicles – Zego’s Sten Saar
’These are challenges to immediately start thinking about solving – because that’s where the winners and losers in auto insurance will be defined,’ says chief executive
News
Insurers still charging ‘excessive’ interest to pay monthly, Which? warns
’For millions to face excessive charges due to their circumstances is unfair – and exactly the kind of issue the FCA should address,’ says director
News
Sabre posts COR of 84.2% for 2024
’We grew strongly in the first half of the year when market conditions were attractive and we maintained our strict underwriting discipline despite a steep decline in market prices during the second half,’ says chief executive
News Analysis
Briefing: What the Aviva and Direct Line mega-deal means for UKGI
Shareholders have approved Aviva’s £3.7bn takeover of DLG, and the deal looks set for completion in mid-2025, but what does the acquisition mean for the two businesses? And how will it impact the wider market?
News
FCA signals potential ‘industry-wide redress scheme’ for motor finance commissions
’Under a redress scheme, firms would be responsible for determining whether customers have lost out due to the firm’s failing,’ says regulator
News Analysis
In Focus: How could the motor market evolve following legal and regulatory scrutiny?
Insurance Times quizzes the industry on how the motor insurance market could evolve considering the Supreme Court’s recent motor finance case and the FCA’s increased focus on premium finance
News
Court orders fake car insurance fraudsters to repay £376,000
’Ifed will use its full suite of options to make sure that fraudsters don’t benefit from their dishonest actions,’ says detective sergeant
News
Admiral celebrates ‘remarkable’ 2024 with 90% uptick in group profit before tax
The personal lines insurer generated £4.78bn in insurance revenue last year, alongside a 19% growth in UK insurance customers
News
Home premiums drop for third consecutive month
’The continued decline in home insurance premiums is a welcome relief for policyholders after a period of sustained inflation,’ says product manager
News Analysis
Motor insurance affordability under pressure amid FCA scrutiny
As motor insurance premiums continue to squeeze household budgets, scrutiny from regulators and policymakers is intensifying. But with competing priorities and political setbacks, is real change on the horizon?
The Insurance Times Five Star Rating Report is the first at-a-glance guide to insurer experience, created for brokers by brokers.
The ratings distil the key findings of the well-established Broker Service Survey into an indispensable tool to help brokers select the right insurer for their clients. Insurers are rated on the experience they offer to brokers using an easy to understand Five Star system, with the best insurers in the market receiving a coveted Five Star rating.
View the 2023 Personal Lines Report
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