Insurance provider Tempcover has signed a license agreement with WTW to use its pricing platform Radar Live to enhance its fully digital short-term vehicle insurance proposition. WTW said Radar Live will improve Tempcover’s ability to generate commercial insights from data sources, give it access to advanced analytical methods and provide the ability to deploy sophisticated algorithms to market.
Ecliptic, which is the technology division of Advent Insurance Management, has launched a system called Aries to provide oversight of the entire delegated authority stakeholder process in one place. It was developed in collaboration with the market and DA stakeholders at Ecliptic’s recently launched Inov8ionLab on Lime Street.
Lloyd’s has announced a new operational structure to deliver its Blueprint Two programme following the departure of its COO Jennifer Rigby, who leaves the market on 21st January. Burkhard Keese, currently CFO, will take on additional responsibility for technology and operations as COO. Bob James, director of market transformation, will be responsible for the delivery of Blueprint Two.
The Chartered Insurance Institute has announced that Jonathan Clark has become interim chief executive officer. Clarke is a former president of both the CII and the Chartered Institute of Loss Adjusters, as and served as CII Treasurer between 2003 and 2007.
The Society of Claims Professionals has emphasised the need for people working in claims to ensure they keep abreast of changes in technical aspects of policy coverage and develop their understanding of exactly what specific wording means in terms of cover following a loss.
Marshall Wooldridge, which is the Yorkshire hub for Global Risk Partners has acquired Rotherham-based Goldthorpe Insurance Brokers. The firm was founded more than 30 years ago and will retain its brand and office following the deal which completed on 1st January.
CPP Group UK, the managing general agent and insurance product and services provider, has acquired travel insurance and scheme specialist business Alpha Underwriting. The acquisition includes Alpha’s general insurance broker network and broker portal. CPP said it would develop Alpha’s existing suite of travel insurance products in the near future.
1 Answer Insurance has announced a deal with Inzura to use its AI-powered policy verification app, iApprove for its taxi, courier, minibus and private motor insurance lines. 1 Answer Insurance said the move was saving its agents around 40 minutes per new customer.
Lloyd’s has signed a contract with DXC Technology and the International Underwriting Association to create solutions to digitalise, streamline and fully automate processing for Lloyd’s and the London market. The agreement will cut market processing costs by 40% and has also received support from the Lloyd’s Market Association.
ZIM Integrated Shipping Services Limited has restructured its insurance broking services and created Kastor Holdings Limited, a UK-based holding company. Kastor has become the 100% shareholder of Lloyd’s broker, Ramon International Insurance Brokers Limited, which has also opened a US office to lead international expansion. In addition, Kastor has acquired Lloyd’s broker, Sanctuary Insurance Brokers Limited.
Trade credit MGA Nimbla has agreed a five-year capacity partnership with partnership with Accelerant Insurance Europe SA, which is rated A- (Excellent) by A M Best. Nimbla said the deal would enable it to expand its product range beyond its core single invoice and limit product.
MGA iprism has added its tradesman, contractors and professionals products to the SSP insurance platform. The deal expands iprism’s distribution and offers SSP brokers a quote and bind service from rating and pricing to core administration, data analytics and policy documentation at the point of sale.
MGA platform Pine Walk Capital Limited has launched OPEnergy, which will be based in Lime Street and write onshore and offshore energy liability risks and offer public, products and pollution liability lines. The Financial Conduct Authority granted the new MGA regulatory approval on 6th January.
Cyber risk management specialist KYND has secured a £3.25m investment from private equity firm BGF. KYND has developed partnerships with insurers and brokers such as Beazley, Howden, Paragon and Alliant and will use the capital to accelerate its expansion plans and further develop its cyber risk technology.
Movo Investment Group, which owns the Movo Partnership network, has acquired three commercial brokers. They are Chiltern Insurance Group in Berkshire, FLS General in Essex, and Kidd Insurance in West Lothian. The acquisitions bring a combined gross written premium of £4.7m and nine new staff into Movo.
Willis Towers Watson has compressed its branding to WTW. The news came as the firm changed its ticker symbol on the Nasdaq stock market from the start of this week. It follows the collapse of the proposed merger with Aon last year.
Travel and international health insurance provider PassportCard Nomads is targeting roving workers with its digital and flexible cover options. Policyholders will receive a pre-paid debit card, which they can use to settle claims and medical bills on the spot.