Cox cracks Egg
Cox cracks Egg
Cox Insurance this week has completed a deal to provide third-party administration for online bank Egg's general insurance service. The bank's new service is to be branded Egg Insure and will offer motor cover this month, followed by buildings and contents insurance in September. Under the deal, Cox will take a fixed fee for each transaction Egg makes. Cox's Lloyd's syndicate, Equity Red Star, will increase the insurer's revenues as one of Egg's panel insurers.
Swiss Re is providing information on natural hazards online. CatNet can be used to retrieve information online and more accurately estimate the risk due to natural hazards. An interactive atlas provides an overview of risk exposure, insurance information and country-specific data about the insurance situation, loss experience and loss potentials. CatNet can be found on ELRiX platform www.elrix.com
OK for Jamjar
Jamjar.com, Direct Line's online service for motorists, has won accreditation from Clicksure, an ecommerce certification firm. Clicksure carries out an audit of online companies' systems, checking procedures and security are up to scratch.
Ryan's silver anniversary
Ryan Insurance Group is celebrating its 25th birthday. Since it opened up in Princess Street, Ipswich, in 1975 it has expanded to include five branch offices in addition to its head office in Ipswich. It changed its name one year ago from Colin Ryan Insurance Brokers to Ryan Insurance Group.
Motor and body work together
The Retail Motor Industry Federation and Association of Body Repairers are in exploratory talks that may lead to their merger. A statement issued by both trade bodies said they shared much common ground and an overlapping membership. The talks are set to continue until autumn.
Expansion takes off
Ward Evans Group has launched an aviation division as part of its international expansion programme.Planning to make the most of new technology, it aims to transact 50% of general aviation business over the web.
Bupa's online sales up 15%
BUPA International has boosted its sales of online private medical insurance products to 15% after including a facility for instant customer feedback on its website. Customers clicking their mouse on a “call me” icon on the website receive a follow-up call from a Bupa International agent. Nearly 40% of these leads result in a product sale: the highest conversion rate of any form of communication used by the insurer.
AGM launches new service
ACE Global Markets (AGM) has joined forces with law firm Hammond Suddards Edge to launch a claims service for solicitors. The service will compliment the solicitor's professional indemnity cover sold by AGM, which are led and underwritten by syndicate 2488. Solicitors insuring with AGM will have access to a national claims hotline manned by professional indemnity solicitors and backed up by partners and staff from Hammond Suddards Edge. Litigation will be referred to a panel of national and regional law firms.
Repairers do discourtesy
Many bodyshop repairers will be unable to gain credit for more courtesy cars this winter because they are cash-strapped after insurers negotiated tight contracts, warns the Motor Vehicle Repairers Association. The trade body says the financial problems will be exacerbated because repairers will be forced to seek expensive spot hire or daily rental vehicles to meet service level obligations. The MVRA is urging insurers to provide repair centres with some ability to charge for courtesy cars.
Marsh sets up new website
Broking and risk management giant Marsh is now offering solicitors' professional indemnity through a dedicated, transactional website. To obtain quotes, solicitors fill in an online proposal form and request a quote. The system then selects the most suitable policy from Marsh's panel of insurers – currently SVB and Chubb, but soon to be extended. For solicitors who do not have access to the web, Marsh will continue to offer its traditional broking services. Technology for the site has been developed by software house Policy Master.