Technology
IBM terminates £55m digital transformation deal with Co-op
IBM has terminated its £55m contract to upgrade Co-op Insurance’s IT systems.
Blog: Building on blockchain
Blockchain is gaining popularity among insurers, who will need to figure out how to integrate it with legacy systems, says Michael Clifton, senior vice-president, global insurance strategy and ventures at Cognizant.
Brolly closes £1m seed round with Valar Ventures
Insurtech start-up Brolly has closed a £1m seed round led by Valar Ventures, Pi Labs and Entrepreneur First.
PPL update expected mid-September following delays
Placing Platform Limited, the London market’s electronic placing platform, will get its next update in mid-September, the platform's board has said.
Kennedys launches incubator platform to modernise legal services
Global law firm Kennedys has launched an incubator platform to build technological innovation within the legal sphere.
Allianz launches on-demand drone insurance with start-up Flock
Allianz has partnered with start-up Flock to launch app-based on-demand drone insurance for commercial and recreational users.
Axa partners with Uber to provide employee cover
Uber and Axa have signed a partnership that will see France-based independent Uber employees receiving insurance cover for free.
Biba launches claims app for brokers
The British Insurance Brokers’ Association has launched a claims smartphone app facility for brokers with Insure Apps.
Legal Update: Catastrophic injury claimants can benefit from assistive technology
Assistive technology can provide a cost-effective way of helping claimants with catastrophic injuries, explains Malcolm Henké, partner at Horwich Farrelly.
Blog: Digitisation and the battle for relevance
Digital technologies offer insurers the opportunity to reconnect with their clients and earn back their trust, writes Robin Wolstenholme, senior marketing specialist at Liferay.
Aviva names five start-ups for fintech incubation programme
Aviva and Founders Factory have revealed the first five start-ups selected for its fintech programme.
Public divided on driverless cars, study reveals
Over a third of the public are sceptical of driverless cars, with only four in 10 ready to embrace the technology.
This week: Planning, predictions and packing
I am most definitely a planner. Being organised usually tops my list of attributes in appraisals and most of my life as a busy working mum is run by lists. In fact the holiday I'm just about to fly off to has been two years in the planning.
Insurtech funding hits $985m, up 248% in Q2
Funding for Insurtech start-ups saw a 248% increase to $985m during the second quarter of 2017, said Willis Re.
On-demand insurance provider receives £1.2m in funding
Pay-as-you-go insurance provider, Zego has raised £1.2 million in a seed funding round following the launch of its first product led by Aviva.
Sequel enters partnership with fintech underwriter
Software specialist, Sequel Business Solutions has entered long-term partnership with fintech underwriting company, Elseco.
Swinton's Richard Beaven on getting personal
The disruptive rise of price comparison websites is well-documented. This has prolonged the lifespan of an outdated business model where insurers and brokers compete on price, and price alone, argues Richard Beaven, distribution director for Swinton…
Firms that have made Brexit contingency plans may face difficulties, FCA says
The Financial Conduct Authority said Brexit contingency plans of some companies could cause them "difficulties" in future.
Extreme cyber attack could cost as much as Superstorm Sandy, says Lloyd’s
A major global cyber attack could trigger $53bn of economic losses, the equivalent 2012’s Superstorm Sandy, according to a report from Lloyd’s.
Blog: Retaining and empowering staff with technology
Where news is dominated by the concept of data enrichment and there is talk of a ‘technical revolution’ we find ourselves in the middle of a steadfast digital age.
Co-op Insurance weighing up FCA sandbox application to boost digital presence
Co-op insurance is considering submitting an application to the FCA’s Sandbox and is aiming to make the business even more digital.
Willis Towers Watson's Liz Lister on the benefits of specialist knowledge
The only absolute certainty in today’s modern world is change. Change creates new risks for all businesses, whether they are based in the north or south of the country, have international reach or are mid-market organisations.
33% of insurance customers 'will request for their data to be deleted'
One in three insurance customers will exercise their right to be forgotten under the General Data Protection Regulation.
Usage-based motor start-up By Miles gains FCA authorisation
Usage-based motor start-up By Miles has received Financial Conduct Authority authorisation.