Big data
Analysis: The age of consent
Insurers will need to get the consent from their policyholders to collect their personal data, under regulation coming into force next year
BILA's Melissa Collett on five ways insurers can increase consumer trust
Melissa Collett, director at Fairer Finance and committee member of the British Insurance Law Association, describes five ways insurers can increase consumer trust.
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.
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.
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.
Life is a breach: What the GDPR changes for insurers
Insurers will face stricter data rules but these may help them grow the cyber market, write Mark Estafanous and Kate Payne, solicitor and partner at Elborne Mitchell.
Blog: How to play the digital game
Transforming an established business to exploit the new touchpoints made available by digital is no easy task but it's a necessity that the full breadth of the insurance industry has woken up to, writes Robin Wolstenholme, senior marketing specialist at…
GDPR ‘a shot in the arm’ for cyber insurance
The incoming EU data protection regulation is likely to be a “shot in the arm” for the cyber market, resulting in a marked growth in cyber insurance revenues, according to AM Best.
Blog: Setting the pace for change
Technologies such as driverless cars, telematics and the connected home are changing the world of insurance, with the need for more modularisation of coverages, and components that can be used in different ways to suit particular niches and markets. Dean…
When cyber gets physical
Recent events such as the Wanna Cry ransomware attack and British Airways’ computer outage have helped to drive sales of cyber insurance, but there are concerns that a significant part of the risk is being overlooked
Analysis: The truth behind the broken system of dual pricing
The industry has faced sustained attacks in recent months for its ‘shameful’ practice of raising rates for loyal customers, with one newspaper calling for the government to ‘punish the insurance pirates’.
Businesses to face bigger costs for ransomware attacks
Businesses are being warned that they could face greater financial fall-out if they become victim to a cyber or ransomware attacks, following the Petya attack on Tuesday.
Trade voice: Modernising the London Market
The London Insurance Market is unique not just because of its age and history but also because of the way it is structured and the way it operates. Dr Miriam Goldby, of the British Insurance Law Association, examines the potential legal implications of…
Axa's Gareth Howell on putting customers before innovation
Innovation is currently the talk of our industry for good reason. We are facing potentially challenging times, with start-ups bringing new tech, new ideas and a new outlook to the sector. However, Gareth Howell, managing director of personal direct and…
New solution to allow customers to buy additional policies through Amazon Echo
Software provider CDL has integrated its retail solution, Strata, with Amazon Echo's Alexa bot to allow customers to change and check their insurance policies via a conversation with the robot.
Data analytics will impact property underwriting but could lead to 'uninsurable' properties
Increased analytics and data capturing will be integral to the future of underwriting global property but could lead to uninsurable properties, insurers have said.
Effective use of Big Data is growing challenge for insurers, ABI warns
Using Big Data will be the biggest challenge to insurers James Dalton, director of general insurance policy at the Association of British Insurers has said.
Motor Report docu-video - Fraud, driverless cars, young drivers and claims
The Motor Report is out - but what do the experts think of the findings?
CAPS looks to the US for guidance on standards for motor claim data security and transfer
Industry stakeholders have given the green light to a new structure to support an industry standard for connecting data through the repairer supply chain during the claims process.
Q&A: Sergio Pierro, XL Catlin
New rules on data protection will come into force in Europe next year. Sergio Pierro is a professional indemnity underwriter for international financial lines at XL Catlin, based in Paris, and focuses on cyber. He explains how companies can get ready for…
BGL establishes tech hub with plans to develop a series of customer apps and websites
BGL has opened a tech hub at the White Collar Factory on Sillicon Roundabout in London’s Shoreditch and is planning to develop a series of products.
GDPR could stall insurers' efforts to use data analytics and machine learning
The General Data Protection Regulation could stall the industry’s efforts to use artificial intelligence and Big Data to enhance their propositions.
Blog: How artificial intelligence will simplify insurance
While insurance is becoming ever more complex, insurers are being disrupted by digitally-led start-ups simplifying what insurers do for customers. Mike Downing, chief technology officer for the WPA Group, envisages long and complex policies with drawn…