The Briefing
THE BRIEFING: Personal lines broking
Personal lines broking: The risks of unrated insurers, the threat of Amazon, dual pricing and insuretech
What more can the industry do to tackle fraud?
Three specialists discuss how the insurance sector can tighten its defences against fraudulent activity
Q&A: Cracking down on the motor fraudsters
Direct Line Insurance counter fraud manager Mark Chiappino on how the industry is trying to fight crime, the impact of the Civil Liability Act and how we need to move away from ‘compensation culture’
Combination of factors driving motor costs upwards
Statistics from ABI indicate that after five consecutive quarters of year-on-year decreases in average premiums, it looks like motor insurance rates are on the up
Has the insurtech conversation moved from disruption to collaboration?
Five insurance specialists give their views on whether new tech startups have gone from challenging the established businesses in the insurance industry to working with them
Deloitte: Insurtechs should be considered innovation partners, not vendors
Insurtech startups have drawn $16.5bn in investments over the past decade
Brokers less fearful of insurtechs – survey
Online comparison sites are seen as a bigger threat to UK general insurance brokers than insurtech companies, according to the results of the 2019 Digital Broker survey
Insurance, with no questions asked
With one-third of customers giving up on lengthy question sets, will insurtech powered zero-questions-asked insurance quotes revolutionise the process?
Succession planning: Handing over to the next generation
Tackling the skills gap is one way of improving succession planning options for smaller brokers presently in the hands of solitary and/or ageing owners
Succession planning: More than a quarter of broker bosses lack succession plans
Survey also found most respondents would prefer to sell to another broker rather than a consolidator
Succession planning: The art of executing a clean exit
In February, Folkestone’s Independent Insurance Services was purchased by a local managing general agency. Outgoing business owner Ray Johnson offers a personal account of his exit strategy and explains why it was important to sell to a company with similar values
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
Escape of water claims at £2.5m a day
Escape of water (EoW) claims have been a significant issue for the domestic property market over the past few years
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