Insurance industry viewpoint

Even Wizards and Ninjas need insurance

23 Apr 2018

If you’ve spent any time on LinkedIn and other social media platforms you may have seen how job titles are evolving. In fields like marketing, management and IT we’re seeing traditional titles like ‘consultant’ and ‘adviser’ make way for a new breed of ninjas, wizards, gurus and rockstars.

Of course, the job market is changing all the time. New jobs and technology emerge to replace older jobs, which is why we don’t see many gas lamp-lighters walking around the streets any more.

Posted by Jon White | QBE
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GDPR, a Tale of Procrastination, Delusion and Underinvestment?

22 Jan 2018

The General Data Protection Regulation (GDPR) comes into enforcement from May 25th, 2018.  The potential fines that can be levied by GDPR are large numbers. At their extreme they can be as great as €20m or (and this makes it important to companies of all sizes), 4% of global revenue, whichever is the greater.

Posted by Darren Wray | Fifth Step
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2017 and the year that was – a chance to reflect (and remind) on the value of our industry

21 Dec 2017

2017. What a year. As many of those who know me will verify, I prefer to look forward rather than back. But I don’t think any insurance CEO – particularly any motor insurance CEO – can fail to reflect on 2017 without a sense of bewilderment at how things played out in our industry.  The sector is increasingly being challenged by government, regulators and lawmakers. And sometimes it’s easy to overlook the reason why we exist in the first place.

Posted by Ian Parker | ERS
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Brexit means Brexit but not for GDPR

11 Oct 2017

Insurers and brokers have a lot on their plate at the moment: Brexit bafflement, Ogden agony, rate reductions and new threats to their business models but everyone from the smallest high street broker to the largest multinational insurer need to know their GDPR subject matter. Failure to plan ahead means you could find the regulator banging loudly on your door followed up by a gaggle of Google search tags that you really don’t want your customers to be reading!

Posted by Darren Wray | Fifth Step
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Customer connectivity – Is the insurance sector doing enough?

13 Dec 2016

A couple of years ago an Ernst & Young survey in the UK revealed that just 7% of consumers have "complete trust" in their insurer. It was reported that UK insurance customers were found to hold more trust in the banking sector, despite the severe reputational damage it has suffered over the last seven years, than in their insurance provider.

Posted by Paul | youTalk-insurance
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London insurance market underprepared for cyber-attack

10 Mar 2016

It was fascinating to read the results of Xchanging plc’s survey at the end of last year, which revealed that only one-third of insurers in the London Market believe their firm could withstand a major cyber-attack, and almost half felt they were underprepared, according to a survey conducted by the company.

Posted by Darren Wray | Fifth Step
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Is the Insurance Broker Broken?

22 Feb 2016

Very rarely now does the customer deal with a third party

The internet started the revolution of connecting people with products and that was bought alive by the trading platforms such as eBay and Amazon which facilitate the direct relationship between consumer and seller.

Posted by Susannah Schofield | Dice Matrix Consulting
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