MOTOR – Page 18
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News‘Lots of uncertainty’ remains over OIC portal – Admiral
Some ramifications of the portal are clear, but more time is needed to fully understand others
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NewsGlobalData forecasts £2.2bn boost in motor insurance DWPs by 2026
A DWP jump in 2023 will result from companies looking to rebalance their books following new FCA pricing rules, says insurance analyst
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AnalysisBriefing: Elon Musk takes insurance in-house at Tesla – can the industry keep pace?
As the electric vehicle revolution continues, Musk is set to gain a key position in the insurance sector, providing further competition for insurers
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NewsWhiplash reforms have ‘dampened a rise in claims’ – MoJ’s David Parkin
Plus, the Official Injury Claim portal has not been ‘swamped by CMCs’ as predicted, says deputy director
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AnalysisBriefing: Staged e-scooter accidents are ‘already happening’ and leading to ‘questionable’ claims
With pandemic-related fraud dwindling, insurance fraud experts believe the next emerging risk will come from the insurtech sector
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Analysis‘Very aggressive segmentation’ set to replace price walking as profit-making tool for insurers
With customers having less incentive to shop around following the FCA eliminating price walking, how can underwriters leverage data to offer discounts to their least risky customers?
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NewsSabre’s GWP up by 30% despite inflationary pressures
The motor insurance underwriter is confident that its disciplined underwriting strategy will consolidate its core strengths and allow for sustainable growth
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NewsBogus home insurance claims grew by 45% in 2021 – Aviva
Whiplash and ghost broking fraud continued last year, according to the insurer’s figures
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NewsGovernment launches £40m self-driving commercial vehicle competition
88% of road collisions caused by human error, according to the transport minister
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NewsAnti-fraud focused OIC portal amendments are vital for the future
The current portal’s set up is a ‘fraudsters’ paradise’, says Carpenters Group director
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NewsInsurtech Marshmallow launches van proposition widening core market proposition
The new offering widens the insurtech’s core offering and represents another aspect of its continued growth
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NewsFCA’s general pricing rules drive up van insurance premiums by 6.3% - Consumer Intelligence
The pricing expert believes that the regulator’s movements are hampering cheap market deals
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AnalysisGap insurance fraud seeing ‘a huge uptick’
As whiplash claims have become less attractive to potential fraudsters thanks to the Civil Liability Act, could gap insurance become a new problem area?
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NewsAverage cost of motor insurance has fallen 5% – ABI
This means consumers are enjoying the lowest average costs for nearly seven years
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AnalysisBriefing: LiPs not ‘disadvantaged’ by OIC process despite industry-wide concerns
Law firm argues that OIC portal process is not a ‘disincentive’ because LiPs are ‘clearly able’ to submit and progress claims
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NewsDirect Line’s premiums slide by 2.4% during Q1 2022
The group put the hit to GWP down to the FCA’s pricing reform, but trading was ’broadly in line’ with its expectations
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NewsGovernment proposals to scrap annual MOTs could see increase in ‘unroadworthy vehicles’
Although the proposed change could save £55 a year, this could lead to more unsafe cars on the road which could subsequently increase insurance premiums
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NewsNew CRU data confirms continued decline in motor claims
Numbers for motor injury claims are at ‘historic lows’, says ACSO executive
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NewsAviva inks deal with Tractable to ‘overhaul’ UK motor claims accuracy
The deal also supports Aviva’s net zero 2040 target
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NewsBiba and ABI celebrate 10 years of signposting agreement
The joint initiative has led to over 860,000 enquiries to Biba’s Find Insurance service
