Technology - Underwriting: Shifting focus

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Insurers are upping the pace at which they investigate underwriting IT options and, over the past six months, there has been a substantial jump in the number of carriers looking to engage software houses with projects in this area, says Edward Murray

To date, most of the recent major IT projects in general insurance appear to have centred on claims departments which is understandable given that claims account for somewhere in the region of 60% to

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Insurers face margin crush unless premiums are hiked

Data analysis: A sustainable margin recovery looks increasingly challenging for insurers with premiums needing to increase in real terms to prevent any erosion after a tripling of costs to 10.9% of premiums last year from 3.5% in 2022.

Stephen Wallace, McLarens

Steven Wallace is managing director of EMEA for global claims services provider McLarens and is the current president of the Chartered Institute of Loss Adjusters.