Motor – Page 7
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NewsCovéa Insurance plans to re-enter EV insurance market in 2025
The underwriter first pulled back from insuring fully electric vehicles as part of its relationship with retailer John Lewis in 2023 after getting cold feet about repair costs
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NewsAgeas UK is ‘very interested’ in embedded insurance – Ant Middle
The personal lines insurer is exploring new embedded product propositions ‘right now’ as chief executive believes this model is ‘really important to the future development of our business’
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Sponsored ContentUK’s EV appetite must be reflected in courtesy car claims experience – Europcar
James Roberts, head of insurance sales at Europcar, talks through the challenges bodyshops and the motor supply chain are facing in matching customer expectations around electric vehicle rentals versus current available supply
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NewsFraud on the rise as Aviva reports fake claims up 14% in 2024
‘Investment in advanced analytics, machine learning models and continuous training for our people has significantly improved our fraud detection rates,’ says counter fraud leader
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NewsCrash for cash scheme lands Bradford man in prison for two years
’Higgins thought he could take his insurer for a ride and defraud it out of a significant sum of money. Fraudulent claims like this push up the cost of insurance premiums for honest policyholders,’ says detective constable
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IT InterviewAnt Middle: Organic growth focused plan seeks to put Ageas UK top of the personal lines pile
The insurer has ‘earned the right to think bigger as a business’ and topple the likes of Allianz, Axa and Hastings from the personal lines podium using product expansion, AI investment and a commitment to broker partners, says chief executive
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NewsDeal-linked Esure posts profit of £57.7m for 2024
’We have strengthened the business with a focus on optimising customer experience on our new platform and expanding our product offering,’ says chief executive
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News AnalysisIn Focus: Was Gap insurance ‘unfairly targeted’ by the FCA?
’The way [the FCA has] gone about it, closing down an entire market, is unheard of,’ says managing director
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NewsMotor market currently ‘at about the softest point in the cycle’ – Geoff Carter
‘Our view is that the market is substantially underpriced on new business at the moment – the pendulum has swung too far,’ says chief executive
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NewsInsurers must prepare for the ‘messy middle’ of journey towards autonomous vehicles – Zego’s Sten Saar
’These are challenges to immediately start thinking about solving – because that’s where the winners and losers in auto insurance will be defined,’ says chief executive
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NewsInsurers still charging ‘excessive’ interest to pay monthly, Which? warns
’For millions to face excessive charges due to their circumstances is unfair – and exactly the kind of issue the FCA should address,’ says director
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NewsSabre posts COR of 84.2% for 2024
’We grew strongly in the first half of the year when market conditions were attractive and we maintained our strict underwriting discipline despite a steep decline in market prices during the second half,’ says chief executive
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News AnalysisBriefing: What the Aviva and Direct Line mega-deal means for UKGI
Shareholders have approved Aviva’s £3.7bn takeover of DLG, and the deal looks set for completion in mid-2025, but what does the acquisition mean for the two businesses? And how will it impact the wider market?
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NewsFCA signals potential ‘industry-wide redress scheme’ for motor finance commissions
’Under a redress scheme, firms would be responsible for determining whether customers have lost out due to the firm’s failing,’ says regulator
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News AnalysisIn Focus: How could the motor market evolve following legal and regulatory scrutiny?
Insurance Times quizzes the industry on how the motor insurance market could evolve considering the Supreme Court’s recent motor finance case and the FCA’s increased focus on premium finance
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NewsCourt orders fake car insurance fraudsters to repay £376,000
’Ifed will use its full suite of options to make sure that fraudsters don’t benefit from their dishonest actions,’ says detective sergeant
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NewsAdmiral celebrates ‘remarkable’ 2024 with 90% uptick in group profit before tax
The personal lines insurer generated £4.78bn in insurance revenue last year, alongside a 19% growth in UK insurance customers
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NewsHome premiums drop for third consecutive month
’The continued decline in home insurance premiums is a welcome relief for policyholders after a period of sustained inflation,’ says product manager
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News AnalysisMotor insurance affordability under pressure amid FCA scrutiny
As motor insurance premiums continue to squeeze household budgets, scrutiny from regulators and policymakers is intensifying. But with competing priorities and political setbacks, is real change on the horizon?
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NewsUK car thefts down 4.5% in 2024 compared to 2023
’For the first time since the pandemic, the annual DVLA stolen vehicle figures contained some much-needed good news for both the public and the UK motor insurance industry,’ says technical director
