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Gallagher partners with Knight Frank Finance; Azur announces MBO; Criterion appoints MD
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Editor’s Picks: Musk’s move, navigating losses and regulatory improvements
As we approach the end of February, the headlines that caught your attention on Insurance Post this month show the challenges and opportunities facing the industry one year on after Russia invaded the Ukraine.
Why property insurers are struggling to control claims costs
Analysis: Sam Barrett explores how inflation, increased labour costs plus material shortages are pushing up property insurance claims costs and why working with loss adjusters to remove frictional cost is essential.
Big freeze pushes RSA's personal lines to Q4 underwriting loss
Adverse weather drove RSA’s personal lines business to an underwriting loss in 2022, with freezing winter temperatures and dry summer conditions pushing its full-year combined ratio to 106.2%.
How inflation wiped out the benefits of the dual pricing ban
Data analysis: Dual pricing reforms successfully tackled price walking in motor and home policy renewals last year but Harry Whitworth reveals how double digit inflation threatens to nullify this benefit for customers in the next 12 months.
Q&A: Sam White, Freedom Services Group founder and chair
Sam White, founder and chair of Freedom Services Group, speaks to Insurance Post about the launch of Stella Insurance, her new female-centric venture, and what it means for her future within Freedom.
Four biggest challenges facing insurers in 2023 revealed
To help you prepare for the challenges and opportunities of the next 12 months, Insurance Post spoke to insurance analysts and regulatory experts to uncover four things you need to know about what 2023 holds in store for the industry.
Is Munich Re, once the ‘go-to’ for insurtechs, tired of start-ups?
After Many Pets became the latest insurtech to list Munich Re as a former capacity provider this week. Jonathan Swift looks at what has become of the once omnipresent go-to partner for start-ups.
Why it's time to take a brave leap of faith into the augmented reality world
Emma Ann Hughes examines the reasons why some insurers seem reluctant to embrace augmented reality for certain products, how AR can open more doors for home and motor claims, and the benefits being reaped by the early, intrepid adopters.
Roundtable: Making embedded insurance a profitable business model for insurers
Embedded insurance offers the potential of a rich seam of new business and lower-cost distribution. But, as a recent roundtable hosted by Insurance Post in association with Duck Creek Technologies revealed, insurers are still figuring out how to get…
Should the industry fear 'sleeping giant' Amazon’s first steps into insurance?
After Amazon’s much anticipated entry into the UK insurance market fell a little short of the wow factor, Scott McGee explores the corporation’s chances at succeeding.
Roundtable: How can data enrich the property claims journey from FNOL to payments?
A recent roundtable sponsored by LexisNexis Risk Solutions saw an expert panel discuss how data enrichment can be used from a post-loss perspective and what this change could mean for the future of property claims. Eleanore Robinson reports.
Smaller insurers fail to provide written proof of meeting pricing rules
The Financial Conduct Authority has found many smaller insurance firms have few or no records to prove they meet the pricing requirements introduced at the start of 2022.
GRP acquires Flint; Volt partners with Laka; Premfina appoints chairman
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Digital Bar Quarterly: Revealed, the insurer brands driving standards in usability
This month benchmarking service Digital Bar launched usability assessments for UK direct insurer brands alongside its latest digital capability rankings. Simon Fenn, co-founder of its partner Pancentric, gives a high-level view of usability standards…
EY: Motor and home insurers set for biggest loss in over a decade
Motor and home insurers are expected to make significant losses this year and next, due to underlying inflationary pressures and premium rate falls, according to analysis by EY.
Cop27: Three more insurers join Flood Re's 'Build Back Better' scheme
Flood Re CEO Andy Bord has announced that three more insurers have joined the Build Back Better Scheme, speaking at the COP27 climate summit in Sharm El-Sheikh on Monday.
Amazon entry into UK insurance not the threat it was expected to be: Guidewire's Ryu
Guidewire’s co-founder and chairman Marcus Ryu believes UK insurance companies are much more “sophisticated” and “better placed” than they were 30 years ago, and new entrants such as Amazon are not a threat they were once expected to be.
Analysis: Amazon enters UK insurance not with a bang, but with a whisper
Amazon’s entry into UK insurance has been talked about for years. Has the announcement of the Amazon Insurance Store satisfied the industry-built expectations?
Amazon partners with three insurers to launch home and contents ‘Insurance Store’
Amazon has partnered with Ageas, Co-op and LV to launch the Amazon Insurance Store, offering home and contents insurance to UK customers.
Intelligence: Should the insurance sector get wedded to embedded to close protection gaps?
Embedded insurance is receiving some hype, with claims that it could help bolster the industry by closing the protection gap while simultaneously creating the potential for lower-cost distribution. Frances Stebbing looks at whether this is really the…
Axa's Tara Foley: Moja is already attracting younger customers than other brands
During its first month of trading Axa’s new digital start-up Moja has attracted customers that are on average a decade younger than its other brands, Insurance Post can reveal.
Das UK partners with Admiral; IFB partners with GIFC and Ifed; Canopius names head of change
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Lemonade launches in UK in partnership with Aviva
Insurtech Lemonade is continuing its European expansion by launching in the UK in partnership with Aviva.