News
Curtain falls on fake photo fraudster
Clyde & Co and Direct Line have successfully fought off a motor insurance claim that used fraudulent photographic evidence.
Value concerns moving personal injury claims out of OIC portal
More claims are moving from the Official Injury Claim portal to the Ministry of Justice portal due to valuation concerns, according to Verisk Claims.
Ifed conducts operation to disrupt luxury watch fraud
The City of London Police’s Insurance Fraud Enforcement Department conducted a two-day operation at Heathrow Airport this week to disrupt the practice of high-value watch fraud.
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Insurers continue to face the challenge of distinguishing and differentiating themselves on anything other than being among the cheapest providers.
CII’s CEO channels Truss during clash with PFS members
The Chartered Insurance Institute's CEO Matthew Hill used the words of the shortest-serving prime minister in British history when he came under fire from Personal Finance Society members at the latter’s annual general meeting on Armistice Day.
2024 European Insurance Technology Awards winners revealed
Today, Insurance Post is delighted to announce the winners of 2024 European Insurance Technology Awards.
Probitas opens five lines of business following Aviva sale
Probitas will begin quoting for five new classes of business marking the first development since it was acquired by Aviva earlier this year.
Strongman forced to drop attempt to snatch insurance payout
Markerstudy and HF have out-benched a blatantly dishonest claim by ‘Yorkshire’s Strongest Man 2023’ following his involvement in a road traffic accident.
Allianz to launch refreshed SME proposition in 2025
Allianz Commercial plans to launch a refreshed SME proposition in 2025, following investment to broaden and modularise its product suite, UK managing director Nadia Côté has told Post.
FCA bans and fines broker £1.1m for misusing funds
The Financial Conduct Authority has banned Leigh Mackey from working in financial services and fined him £1.1m for misleading the FCA and misusing funds due to insurers.
One in five pothole-damaged cars must be written off
Following a £500m pledge by the government to address the pothole issue in the UK, research from Allianz has revealed that one in five claims where a vehicle has hit a pothole leads to the vehicle being written off.
Jensten names group CEO as Hardie steps down
Alistair Hardie is stepping own as group CEO of Jensten, as he looks to pursue a number of non-executive opportunities elsewhere.
One in three young drivers scammed by ghost brokers
An Aviva survey of 2000 drivers aged 17-25 found nearly one in three young motorists have purchased car insurance from a ghost broker on social media.
DLG to axe 550 jobs by end of 2025
Direct Line Group has this morning confirmed that a consultation process has begun, with the aim of cutting about 550 roles by the end of 2025.
Convex’s Brand urges rivals to stop moaning about brokers’ profits
Paul Brand, CEO of Convex, has told carriers to focus on harnessing technology to drive down their own operational expenses rather than wishing brokers would charge less.
Bspoke’s Hood partnership; CFC’s European expansion; Pool Re’s head of underwriting
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
AI insurtechs dominate Q3 funding
Artificial intelligence-centred insurtechs dominated funding in the third quarter of 2024, securing $897.4m (£691.2m) across 29 deals, according to Gallagher Re.
Esure transformation leads to layoffs for long-serving staff
Esure cut jobs of long-serving, frontline colleagues during its transformation programme due to digital efficiencies resulting in customer behaviour changes.
Crash for cash crooks collide with justice
Keoghs and Aviva have secured custodial sentences against four fraudsters who targeted an elderly motorist and staged an accident.
RSA brand name to be dropped for Intact next year
Insurance Post understands the RSA and NIG brand names are both to be dropped next year, to be replaced by the branding of parent company, Intact.
Insurers must embrace rather than resist motor OEM disruption
Delegates at the Insurance Innovators conference were told to welcome fresh competition from original equipment manufacturers, and that they don't have a "God-given right" to be the only ones to sell insurance.