Digital Claims & Transformation

When claims volumes reduce why should insurers pay the same claims software license fees? Technology to help brokers win capacity in a hardening market. FCA urges digital BI claims management. Embedded insurance and Amazon and lots more insights

FCA plans to use ‘full range of regulatory tools and powers’ to check insurers pay valid BI claims

Furthermore, the regulator recognises the ‘key role that insurance brokers and other insurance intermediaries’ play to ensure policyholders’ claims are progressed "The recently published ‘Dear CEO’ letter outlines the FCA’s expectations around... Read more

Share via: LinkedIn | Twitter | Facebook |

UK must resist the itch to meddle with the tech sector

 UK’s tech start-ups may be better placed than most other sectors to ride out the disruptions of Brexit — so long as the government does not mess up anything else. More agile by structure, more global by mindset and more reliant on... Read more

Share via: LinkedIn | Twitter | Facebook |

Regulatory pressure on insurers will require a digital approach to resolve BI claims

Throughout the test case, the FCA's priority has been to bring clarity to policyholders and insurers. With the Supreme Court judgment, the regulatory priority will be to ensure that payments are made as rapidly as possible. In the attached... Read more

Share via: LinkedIn | Twitter | Facebook |

Microsoft invests in $30bn driverless car company Cruise

Auto insurers face major strategic decisions on partnership and leadership options Data is the king, the digital oil to lubricate business, commerce and insurance. Who 'owns' and shares data owns and shares customers. Tesla is streets ahead of... Read more

Share via: LinkedIn | Twitter | Facebook |

It’s time for digital claims handling to interrupt the challenges of Business Interruption

How should insurers manage the BI claims that the Supreme Court has validated? The Supreme Court’s ruling on Business Interruption will be welcome news for many businesses who had hoped the Court would allow that wordings in their BI policies... Read more

Share via: LinkedIn | Twitter | Facebook |

Hardening markets, brokers and capacity

Industry veteran’s Convex has now raised over $3bn as it seeks to shake up sector  Mr Catlin launched Convex two years ago, setting out to repeat his earlier success with the eponymous Catlin, which he founded and sold to XL Group for... Read more

Share via: LinkedIn | Twitter | Facebook |

What’s Slowing Down Digital Transformation in Insurance?

This is a great article about the changes taking place in sales within banking, insurance and wealth management. To quote this article "Despite customers’ widespread financial concerns, interest in purchasing insurance isn’t going anywhere.... Read more

Share via: LinkedIn | Twitter | Facebook |

Embedded insurance and look out, Amazon is coming

From Matthew Grant and Instech London. Embedded insurance is a topic we are definitely going to be hearing more about. Serge Corel from Wakam knows this area well. “There are many platforms and brands who are going to want to sell insurance... Read more

Share via: LinkedIn | Twitter | Facebook |

Briefing: Insurers must be ‘mindful’ of recession-induced fraud

"From an insurance perspective, the ramifications of financial dire straits are linked to fraud, particularly opportunistic fraud or application fraud. Economically, a coronavirus-caused recession has been rumbling along in the background... Read more

Share via: LinkedIn | Twitter | Facebook |

Claims volumes down! Why should you still pay the same claims management software fees?

You probably are saving hugely as motor claims volumes have practically halved even though repair cost inflation eats away at some of those savings. So why do you still have to pay millions for the claims management software? Worst still the big... Read more

Share via: LinkedIn | Twitter | Facebook |