Claims – Page 96
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IT InterviewFlooding data could help cut insurers’ loss ratios says insurtech chief exec
Following the flash floods last week that battered Scotland and parts of South London, Previsico advocates that flooding data could turn the tide on how incidents are dealt with, helping insurers to reduce their loss ratios
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IT InterviewClaims Excellence Awards 2020: Claims teams showcase successes to be in with a chance of award win
Insurance Times catches up with the four finalists in the Claims Team of the Year category for this autumn’s Claims Excellence Awards, finding out the key attributes that make an award-winning team and why these firms feel their claims staff stand head and shoulders above the competition
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NewsUK travel insurer to cover FCO watchlist European destinations
The FCO has advised against all non-essential travel to certain destinations as the pandemic continues, however some travel insurers are now offering cover for this
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IT InterviewAmbiguity in BI policy wordings is ‘natural’ following ‘black swan’ Covid outbreak
Accenture’s managing director for general insurance believes now is the time ‘to do a more holistic and proactive review’ of insurance contracts to remove ambiguities surrounding potential ‘black swan’ events
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NewsPolicies will need to adapt to changing risks brought about by Covid says analytics firm
Products designed for the risks of remote working will become commonplace moving forward
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NewsAnimal Friends releases claims data for dog owners
The pet insurer has released claims data to help potential dog owners make better decisions picking a pet, after lockdown sees a surge in pet owners
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NewsMotor injury claims fall sharply during Covid-19 lockdown
A sharp fall in motor injury claims was recorded in the second quarter of 2020 as fewer people took to the roads
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NewsEcclesiastical hit by £59.7m loss due to Covid-19 impact
The insurer’s chief executive describes the headline loss as ‘disappointing’, attributing it to the ‘uniquely challenging’ circumstances arising from the coronavirus crisis
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NewsZego partners with European e-scooter operator
As the UK government continues its trial of e-scooters, Zego has a new European partner whose focus is e-scooter safety
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FeaturesBrokers need to engage business owners to combat underinsurance in a hard market
In a worse case scenario, brokers could face professional indemnity claims if their commercial clients are vastly underinsured. Insurance Times takes a closer look at the issue of underinsurance and how brokers can help tackle it
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IT InterviewMotor Insurers’ Bureau sees Covid-19 accelerate its culture programme
The MIB has been overhauling its culture change programme since 2018, however lockdown hit as it was due to release its new values forcing the firm to take a more creative approach with staff working remotely
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NewsZurich partners with By Miles on five-year usage-based insurance proposition
The insurer has entered a five-year agreement for a usage-based insurance model with By Miles after observing a shift in consumers driving patterns during the pandemic and as lockdown unwinds
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FeaturesCyber Focus: Data exfiltration boosts ransomware risks with reputational threats
Brokers need to adopt a proactive role in assessing commercial clients’ digital security as cyber insurance morphs into a hybrid of preventative risk management services and responsive claims investigation to tackle evolving cyber threats
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NewsInsurtech deals drop by 80% globally but Lloyd’s Lab still innovating
With the pandemic proving challenging for insurtechs, Global Data reveals a significant drop in insurtech deals worldwide but points out that Lloyd’s Lab fifth cohort gives hope to the industry
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IT InterviewRe-educating brokers: parametric insurance as a solution for BI
FloodFlash’s co-founder Adam Rimmer tells Insurance Times why re-educating brokers is a challenge if the parametric model is going to be applied to business interruption insurance, but nonetheless it is a positive move. The insurtech is a finalist in both the Claims Excellence Awards and the Technology & Innovation Awards ...
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NewsInsurtech MGA Equipsme oversubscribed in crowdfunding during pandemic
The insurtech decided to crowdfund as it wanted control over its own destiny during the pandemic, and it has been oversubscribed in its crowdfunding and seen a surge in customers since March
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NewsQBE gives £10.6m in premium rebates to motor fleet customers affected by Covid-19
Around 60% of the insurer’s rebates went to policyholders within the bus and coach industry
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IT InterviewInsurers unable to hide behind parametric insurance small print, says FloodFlash’s Adam Rimmer
Although many organisations had a form of business interruption insurance within their commercial cover prior to the Covid-19 pandemic, FloodFlash co-founder Adam Rimmer tells Insurance Times how a parametric insurance model would have been the better option for this type of insurance, as ’there’s no small print for the insurer ...
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FeaturesCyber Focus: How can insurers protect themselves from cyber crime?
Industry experts tell Insurance Times what preventative steps insurers need to take in order to avoid possible data breaches and other cyber attacks where criminals are lured by the honeypot of stored customer data…
