This month: Discount rate, driverless vehicles and digitalisation
As 2019 draws to an end, everyone is thinking about what the new year may hold for them, whether it's an exciting new job or simply committing to some small lifestyle changes. One person who has set some plans in motion for 2020 is former Zurich and Axa boss Amanda Blanc, who has landed two non-executive roles.
Amanda is to join Aviva as a non-executive director early next year as well as joining specialist motor insurer ERS in a similar capacity.
Also in people moves, Chubb has promoted Louise Joyce to head of industry practices and Arch has appointed Stuart Danskin as UK regional underwriting director.
The December issue of Post looked at the Scottish Discount rate, which will remain at minus 0.75%, with payouts in Scotland set to be significantly higher in England and Wales prompting fears of forum shopping.
Also in analysis we examined autonomous vehicles in the marine cargo market and the implications for insurance, and the challenges facing managing general agents despite the potential for huge growth in the sector.
We also looked at what insurance does and should cover in cases like the recent Whaley Bridge incident where emergency evacuations as a precautionary measure may take place.
Our profile interview this month was William Stovin, president of Markel International who spoke to Jen Frost about Brexit opportunities and the company’s acquisitive strategy over the years. While this month’s rising star is Horwich Farrelly’s Katie Williamson who is on the path to qualifying as a solicitor.
On both roundtables in this issue the discussions centred around digitalisation. Our first roundtable looked at whether insurers are being held back by their legacy systems and our second explored the future delivery of personal lines how demand for cover is evolving in the ever changing digital landscape.
Meanwhile, Julia Graham, the Association of Insurance and Risk Managment’s deputy CEO and technical director explained why timely planning, good communication and transparency are all essential skills in the current harsh market. And Laura Drabik, group vice-president of business innovation at Guidewire discussed the opportunities and challenges currently facing insurers and insurtechs.
Our c-suite this month is Global Risk Partner’s Mike Bruce who highlighted client relationships in commercial broking. We also shone a spotlight on credit hires claims which have left insurers facing an increase of claims in excess of £100,000.
As we say goodbye to 2019 David Worsfold looks back at the highs and lows of the insurance market this year and what this has meant for companies.
That’s all for this week - enjoy the read!
Hiriyti Bairu
Commissioning Editor
@HiriytiPost
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Penny Black’s Social Diary: Crawford’s curry and ABI’s meaty fare
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences and giving a thumbs up – or down – to the sector’s social media posts.
Four biggest challenges facing insurers in 2025 revealed
To get you ready for the next 12 months, Insurance Post uncovers four things you need to know about what 2025 holds in store for the industry, according to analysts.
60 Seconds With... Forvis Mazars’s Sarah Ouarbya
Sarah Ouarbya, partner for financial services consulting at Forvis Mazars, likes the idea of gardening more than the heavy lifting, loves a bit of Bruno Mars, and shares what matters most is making a positive difference in society.
Man jailed for £100K ‘crash for cash’ plot against LV
A man has been jailed, and two men have been sentenced, for an unsuccessful ‘crash for cash’ plot, which could have cost LV General Insurance £102,827.
How to secure a career in loss adjusting
How to exit school, enter the loss adjusting industry and swiftly climb the sector’s ranks is covered by John Toms, senior loss adjuster, in his Insurance Post Top Tips video.
Five charged over collapse of law firm Axiom Ince
The Serious Fraud Office has charged five men, including two solicitors, with offences including fraud, forgery and the destruction of documents, following the collapse of the law firm Axiom Ince and alleged improper use of more than £60m of client money.
Labour’s £1.6bn pothole plan falls short
Insurers have reacted to Transport Secretary Heidi Alexander’s announcement of a 50% increase in funding for resurfacing roads, observing more cash will be required to end the damage done to cars by potholes.
Q&A: Lauren France, DWF Law
After being named Unsung Hero of the Year at the British Insurance Awards 2024, DWF's specialist manager and deputy head of organised fraud Lauren France talks about the work being done to combat fraud, what threats are on the horizon, and how new injuries are cropping up in personal injury claims.