Ever busier roads, electric and hybrid vehicles, self-driving technology and ageing vehicle fleets have all played a part in changing the composition of UK roads – and insurers must pay careful attention in order to remain in control of a dynamic market
‘Insurers appear to be adjusting rapidly to shifting claims dynamics and competitive pressure, which is now manifesting as more pronounced reductions across a broader range of customer segments,’ says director
’It is a powerful example of how our platform is unlocking new possibilities to better serve our customers,’ says chief commercial officer
Brokers and insurers must take note of the times and keep clients informed about the dangers of not being fully covered
The Chartered Insurance Institute’s executive director of strategy, advocacy and professional standards, Adam Harper, questions FCA proposals scrapping CPD requirements for insurance staff
Brokers must make time to advise, influence and protect clients from underinsurance as softening market creates ideal moment in time to take advantage of competitive pricing
A focus on the practical upside of AI technology from UK insurance firms seems to indicate that the level of maturity around the technology has increased
Data collection must be driven by a purpose, to solve a set problem – otherwise, unintended consequences could cause issues for insurers
’I don’t think we’ve got that flagship person doing the real hard yards – going into schools, doing forums and Q&As,’ says commercial executive
Expanding the insurer’s exclusive regional broker proposition and tackling the relationship ripple effect of broker consolidation are both key focus areas for the broker distribution director
London market broker leader is ‘worried’ about when the digital transformation programme will deliver, noting that it should have been ‘split down into very specific areas’ from the start, rather than following a ‘big bang approach’
A focus on the practical upside of AI technology from UK insurance firms seems to indicate that the level of maturity around the technology has increased