The Briefing
THE BRIEFING: Personal lines broking
Personal lines broking: The risks of unrated insurers, the threat of Amazon, dual pricing and insuretech
Cyber risk to HNW individuals is growing
Insurers move to include cyber in high net worth products as social engineering and business email compromise attacks rise
High net worth investors are turning to drink as whisky values surge
Wealthy collectors splash the cash on rare Scotch, while London’s ultra-high net worth stick to bricks and mortar
HNW cover prices under pressure from costs and exits
Rising cost of claims and high-profile exits drive up premiums as market hardens
How can high net worth brokers and insurers add more value?
Three experts voice their opinions on how to provide better service to HNW clients
How can brokers seize the opportunities within schemes?
Four insurance specialists give their views on making the most of business with schemes
‘Flat white economy’ stirs schemes brokers
With the digital economy now the UK’s largest sector, there are huge opportunities in both mainstream and niche insurance, with intellectual property and other intangibles offering room to innovate
Paying-as-you-go in the gig economy
Changing workplaces and the rise of the sole trader and gig economy has introduced new opportunities for specialist scheme providers
Does the UK have a compensation culture?
Four specialists discuss the effects of fraudulent claims and how the industry can guard against them
Time to shrug off the industry stereotypes
It is essential that insurance improves representation for both race and gender at all levels, to better reflect its customer base
Are brokers doing enough to innovate?
Four insurance specialists give their views on whether brokers are keeping up with changes in the market
Brokers encouraged to embrace use of smart home tech
Biba has collaborated with Magenta Insurance to tackle rising cost of escape of water claims, as part of a wider approach to leveraging connected smart devices for home cover policies
Millennials are main perpetrators of motor insurance fraud
Research by Cifas suggests the view of insurance fraud as a ‘victimless crime’ persists in the UK, with younger drivers increasingly likely to offend through fronting, leading to calls for continuing education from the industry
What can brokers and insurers do to tackle dual pricing?
Four specialists give their views on how the industry shifts from giving preferential prices to new customers
Keyless entry a growing concern as motor thefts rise
Car theft claims rose by 27% in 2018, as criminals find new ways of hacking into high-end cars
Dual pricing: Getting off the hamster wheel
The insurance industry is coming under increasing pressure over dual-pricing. Will it ever be able to eliminate it?