Technology
Postbox: Time to revisit underwriting essentials
I have worked in underwriting for more than 20 years and, while technology has massively increased the array of tools we have available to underwrite risk, it's frightening to realise how few improvements have been made to the professionalism of our…
Strategic Technology Forum: clarity needed on internet data collection legislation
More clarity on forthcoming European legislation surrounding internet data collection is essential, if insurers are to implement it properly. This was the view shared by consulting firm Promontory Financial Group with Post's Strategic Technology Forum…
Co-op targets young drivers with telematics
Co-operative Insurance has launched a telematics-based motor policy aimed at reducing young driver premiums in the wake of the European Court of Justice ruling, which outlawed gender as a rating factor.
Quality data essential to avoid banking problem repeat
Insurers must use top quality data when preparing for Solvency II to avoid the problems suffered by banks during their implementation of Basel II, technology firm CSC claimed.
Strategic Technology Forum: portable device threat to sensitive data must be stopped
Insurers must do more to encrypt portable devices to ensure that sensitive data is kept safe. According to Amy Norcup, an analyst at Promontory Financial Group, even businesses with a strong data protection framework can face sanctions if they fail to…
Law firm launches app
A professor of psychology at Edinburgh University has said that people can struggle to remember small details within seconds of an accident, which often prove crucial when people are taking legal action afterwards.
Mobile phone validation service launched
An online claim validation service for mobile phones has been launched with the aim of helping insurers quickly validate claims.
Crawford acquires Claim Hub
Crawford & Company has acquired the assets of Claim Hub, a provider of claims workflow solutions for the property and casualty insurance market.
Lack of personality means technology will never replace people
Human expertise in insurance will never be totally overshadowed by technological advances, stressed the breakfast briefing panel.
Climate change - domestic renewable energy: the risks and opportunities
With electrical and roofing contractors now moving into eco-friendly home energy installation, Richard Forrest-Smith explains the risks, regulation and exciting insurance opportunities this presents.
Inward-looking nature is holding back industry, claims IBM partner
The insurance industry's ability to execute intelligent decisions in the form of rules-based 'next best' actions is hampered by its "inward-looking" nature and failure to extrapolate from external experiences.
Technology reliance must not hinder contingency plans
Robust contingency plans must be in place to avoid over-reliance on technology, panellists warned.
Claims leakage approach sees a seven-to-one ROI
Martin Ashfield, head of commercial property claims at Axa Insurance, attributed the end of its historical "master-servant" relationship with suppliers to its investment in a consistent rules-based approach to claims leakage. Citing a seven-to-one return…
Public sector reveals way on administration savings
The insurance industry could do worse than look to its public sector counterparts to learn how 'intelligent decisioning' can simplify complex processes and witness the value of claims automation.
Aviva gears up for telematics return as motor rates rise
Aviva has mooted reintroducing telematics technology for private cars during 2011, according to UK chief executive Mark Hodges.
Concern over Google buying BTQ
Google intends to run Beat That Quote as a separate business in the near term, following its £37.7m acquisition of the aggregator.
Duo joins Hiscox media team
Hiscox's UK technology and media team has appointed Jiveen Lal as senior technology & media underwriter – north, and Matthew Webb as senior technology & media underwriter - south.
Facebook reveals insurance fraud
Axa investigators have uncovered a car insurance fraud in Wirral after discovering the two conspirators were Facebook friends.
Interview - Jason Stockwood: A match made in heaven
Moving from the online dating world to insurance broking seems an unusual step. Jason Stockwood explains to Daniel Dunkley what he can bring to the sector.
Duo launches innovation and technology hub
A new insurance business dedicated to developing a greater appreciation and use of more innovative solutions and techniques within the UK insurance industry is being launched this week.
MMA selects motor claims solution
MMA Insurance has selected ISO Claims Outcome Advisor for the company’s motor insurance claims.
RDT: cloud computing aids quick products
Insurance administration solutions specialist RDT has claimed the launch of the first rating engine using cloud technology will enable insurance providers to take products to market via aggregator sites more quickly and cheaply.
Assurant Solutions partners on Protection Pack for O2 in Germany
Telefónica O2 Germany and Assurant Solutions, have jointly developed a new protection pack for mobile phones and Iphones in Germany.
Arc Legal launches app
Arc Legal Assistance has launched the first UK Iphone claims app for legal expenses policies.