Tag Archives: insurance news

UK insurers urged to exploit digital

Only those insurers who are agile and flexible enough to reshape their business to suit the digital and economic challenges will succeed, according to Innovation Group’s ‘The Future Now Report – All change for the UK motor insurance industry’, which was published today. Four significant shifts – regulation, economic conditions, customer behaviour and technology – have all occurred, nearly simultaneously, […]

Millennials Prefer Backseat Driving

A new report from Key Note ‘Motor Insurance (Consumer) 2015’, suggests that Millennials prefer to be driven as opposed to driving themselves, despite the recent fall in motor insurance premiums. According to the report net written premiums have fallen by 15.9 per cent between 2011 and 2014. There are a number of reasons for this considerable drop in the price of […]

Fraudulent insurance claims increasing

Cash for crash’ and organised fraud are causing the number of spurious insurance claims to increase, according to new figures from Aviva. Around 14,000 fraudulent insurance claims worth £95million were made in 2014, this is the equivalent of 39 false claims being registered every day. It is estimated that one in nine whiplash claims could be false, and motor insurance […]

Cold callers encouraging false claims

One of the UK’s largest accident claims companies is encouraging customers to exaggerate injuries for profit, an undercover investigation by the Sunday Times has revealed. Staff at Complete Claim Solutions (CCS), which makes more than 7m cold calls a year, encourage motorists to make false personal injury claims by offering potential pay-outs of up to £5,000. Tom Murray, a senior […]

Insurance firm destroys car without consent

An insurance firm reportedly destroyed a customer’s car without his consent after it was damaged in an accident, the car was a gifted to the man by his late wife, the Mirror reports. The 1996 Saab 900 was badly damaged in an accident in December and the customer, Greg, advised the insurance company the car had great sentimental value and […]

Blue Insurance expansion announced

Blue Insurance is to create 100 jobs over the next 18 – 24 months as part of the company’s expansion into the personal lines and international insurance market. The company will be employing staff across the areas of customer services, IT development, junior management and administration in their Dublin office, increasing staff numbers from 45 to 145. ‘These new jobs […]

Why age affects insurance premiums

The Association of British Insurers has published new data today which shows why age is an important factor in deciding premiums for motor insurance policies. The data shows the average premiums that customers of different age groups pay for their car insurance, compared to the cost of the average claim they make. Younger drivers between 18-20 years pay the highest […]

Gallagher Basset buys Countrywide Accident Assistance

Gallagher Bassett International (GBI) has acquired CAA (Countrywide Accident Assistance Ltd). CAA provides motor first notification of loss (FNOL) and third party administration (TPA) services to insurers, brokers and commercial clients across the UK and is renowned for the market‐leading functionality and service it provides. GBI is a global third party claims administrator, with decades of experience in proactively managing […]

Motor fraudsters getting more sophisticated – Keoghs

Motor insurance fraudsters are getting more sophisticated, according to the new annual motor fraud index published by Keoghs, the Insurance Times reports. This is the seventh fraud index survey produced by the claims related legal services firm and it shows that while the top fraud hotspots remain the same, there are new levels of sophistication amongst fraudsters, who are increasingly aware […]

Saga completes motorbike insurer acquisition

Bennetts, one of the UK’s leading motorcycle insurance specialists, has today become part of Saga plc, following the completion of the £26m deal to purchase the brand from BGL Group, as announced in January. The company provides policies to over 220,000 British motorcyclists and will continue to trade under the Bennetts brand, offering insurance to riders of all ages and […]

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