Modern Insurance Magazine Issue 67

ISSUE
67
ISSN 2515-3803
Turning
the Tap
with Alan Chandler
Responding to a
Changing Insurance
Industry
with Waseem Malik, Aviva
Insurance
Innovators:
A Temperature Check on
Insurance Innovation
I Love
Claims:
Collaboration Critical
in Evolving Market
INSUR.
TECH.TALK
Insurtech Insights
2024 Contributors
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WELCOME
Hello readers!
Welcome to Issue 67 of Modern Insurance Magazine, where
we’re looking into the condition of our modern-day insurance
industry. As the midway point of the year comes and goes,
what sort of market do we find ourselves in at the moment?
What are claims volumes looking like right now, and how can
innovation step up and evolve to meet demands?
Kicking things off, you’ll discover some outstanding commentary from Insurance
Innovators as they discuss how the shape of the insurance industry is changing in
response to developments such as autonomous vehicles, data, climate change, and
more. Flick to p.8 to read the full article, and if you’re keen to keep the conversation
going, don’t forget to join us at Insurance Innovators Summit - Business Design
Centre, London - on 5th & 6th November 2024.
Amelia Barlow, Editor
Next, turn to p.12 to catch up with Alan Chandler, Chartered Insurer and CEO of Alan
Chandler Insurance Training. Following a successful presentation earlier this year
in conjunction with the Chartered Insurance Institute (CII), Alan considers how the
industry’s move towards a softer market can impact training needs, particularly for
brokers and underwriters.
Meanwhile, Modern Insurance Magazine’s growing team of Editorial Board experts
return to share their thoughts from p.17, followed by several articles from our pool
of esteemed industry associations (p.31 onwards) and our thriving panel of fraudfighting
legends from p.41.
You’ll also see Megan Kuczynski (President of Insurtech Insights) return once again
after curating another solid panel of insurtech superheroes for Insur.Tech.Talk.
Positioned alongside our ever-growing collective of insurance technology experts
on our dedicated Insurtech Editorial Board, I’m delighted to see this section of the
magazine thrive and come into its own as more and more people get involved with
supporting us.
As the nights draw in and the post-summer events season fast approaches, don’t
hesitate to stop and say hello to myself and Rach if you see us knocking around!
Rachael Pearson, Project Manager
Rachael Pearson
Project Manager
Modern Insurance Magazine
rachael.pearson@charltongrant.co.uk
Until then,
Amelia
Amelia Day Barlow,
Editor,
Modern Insurance Magazine.
amelia@charltongrant.co.uk
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ISSUE 67
ISSN 2515-3803
Editor
Amelia Barlow
Project Manager & Events Sales
Rachael Pearson
Modern Insurance Magazine
is published by Charlton Grant Ltd ©2023
All material is copyrighted both written and illustrated. Reproduction in part or whole is strictly
forbidden without the written permission of the publisher. All images and information is collated
from extensive research and along with advertisements is published in good faith. Although the
author and publisher have made every effort to ensure that the information in this publication
was correct at press time, the author and publisher do not assume and hereby disclaim any
liability to any party for any loss, damage, or disruption caused by errors or omissions, whether
such errors or omissions result from negligence, accident, or any other cause.
MODERN INSURANCE | 3

Contents
8
14
41
12
62
4 | MODERN INSURANCE

8
12
14
17
31
41
42
55
57
59
Insight
Insurance Innovators:
A Temperature Check
on Insurance Innovation
Interviews
Turning the Tap with Alan Chandler,
Chartered Insurer and CEO of Alan
Chandler Insurance Training
Responding to a Changing Insurance
Industry with Waseem Malik,
Chief Claims Officer – UK General
Insurance, Aviva
Editorial Board
Find out what our editorial board
panel of industry experts have to say
in this edition of Modern Insurance
Magazine.
Associations
Assemble
Modern Insurance’s panel of resident
associations outline the burning
issues from their unique area of the
industry.
Fraud Board
Don’t miss our regular instalment
of The Fraud Board, where our
collective of fraud experts convene
to discuss the key factors affecting
the fight against fraud in today’s
modern insurance landscape.
Features
FMG: EVs Drive Change in the Motor
Claims Process
Outsourced Vehicle Recovery with
CMG: The Bespoke Solution to Road
Traffic Collision Uplift & Storage
Just a Thought
with Eddie Longworth:
Culture Beats Strategy Everyday
I Love Claims / ARC 360:
Collaboration Critical in Evolving
Market
61
10 Minutes with...
10 Minutes with... Ryan McMahon,
Senior Vice President, Cambridge
Mobile Telematics (CMT)
Insur.Tech.Talk
Interviews
63 Welcome
Megan Kuczynski, President,
Insurtech Insights
64 Microsoft
Sandeep Mangaraj, Managing
Director - Fintech, Microsoft
66
Dan Keough
Dan Keough, Chairman & CEO,
Holmes Murphy and Co-Founder/
Co-CEO, BrokerTech Ventures
67 CT-IFS
Susan Winkler, VP & Executive
Director, CT Insurance & Financial
Services (CT-IFS)
68
Tokio Marine
Robert Pick, CIO, Tokio Marine
70 Unqork
Gary Hoberman, CEO, Unqork
71
Insur.Tech.Talk
Editorial Board
Experts from the insurtech sector
join us once more to share their
unique insights!
INSUR.TECH.TALK BOARD
Disclaimer: Our publications contain advertising material submitted by third parties. Each individual advertiser is solely responsible for the content of its advertising
material. We accept no responsibility for the content of advertising material, including, without limitation, any error, omission or inaccuracy therein. We do not endorse,
and are not responsible or liable for, any advertising or products in such advertising, nor for any any damage, loss or offence caused or alleged to be caused by, or in
connection with, the use of or reliance on any such advertising or products in such advertising.
MODERN INSURANCE | 5

EUROPCAR
NEW BRAND BLOCK
Color gradient background
File: 20151645E
Date: 7/10/2015
AC/DC validation :
Client validation :
Editorial Board
17
19
21
23
RECLAIMING STABILITY
Donna Richards, CEO, Carpenters
Group
WHEN STARTUPS COME
KNOCKING
Will Prest, Product Manager, ParaCode
CHALLENGES AS
OPPORTUNITIES
Mick Jennings, Managing Director,
Nationwide Vehicle Assistance
(NWVA)
MITIGATING THE RISK OF
FUTURE PARTS DELAY
CHALLENGES
Adrian Furness, Managing Director,
Motor Repair Network
CREDIT HIRE:
TRANSFORMATIONAL
CHANGE IS WITHIN REACH
Simon Gallimore, CEO, EDAM Group
A PATH FORWARD:
NAVIGATING CHALLENGES
IN THE REHABILITATION
INDUSTRY
Deborah Edwards, Chief Executive
Officer, RTW Plus
THE REAL ECONOMICS OF
RECLAIMED PARTS
Jim Loughran, CEO, e2e Total Loss
Claims Management
MORE CONTEXT FOR
CLAIMS CAN HELP SOLVE
COST CHALLENGES
Sam Marsh, director of product
management, UK and Ireland,
LexisNexis Risk Solutions, Insurance
25
27
29
THE COST OF DOING
SUSTAINABLE BUSINESS
Simon Hunt, Commercial & Services
Director, National Windscreens
THE IMPACT
OF ADVANCED
TECHNOLOGIES ON
EFFICIENCY, ACCURACY
AND TRUST
Lior Koskas, CEO, Digilog UK
A BRIGHT FUTURE
Tom Hadfield, Commercial Director,
The Vella Group
GETTING TO KNOW…
Andrew Chandler, Sales & Marketing
Director, FMG
The Fraud Board
41
WELCOME
Mark Allen, Assistant Director, Head of
Fraud and Financial Crime, Association
of British Insurers (ABI)
45 FRISS
With New Technology Comes New
Opportunity, Martyn Griffiths, Sales
Manager UKISA, FRISS
NETWATCH GLOBAL
NetWatch Works with Police to Drive
Industry-Wide Efficiencies, David
Purcell, Chief Operating Officer,
NetWatch Global
Editorial Board Contributors
6 | MODERN INSURANCE

47
CHARLES TAYLOR
Building a Resilient Fraud Prevention
Strategy for 2025 and Beyond, Bobby
Gracey, Global Head of Counter Fraud,
Charles Taylor
Insur.tech. talk and
Editorial Board
49 VERISK
Detecting Digital Deception in Claim
Photos, Kaye Sydenham, Product
Manager, Anti-Fraud, Verisk
51
SYNECTICS SOLUTIONS
Commercial Insurance Fraud in
2024: The State of the Industry,
Osman Khurshid, Chief Client Officer,
Synectics Solutions
WHITELK
I Have Given a Name to My Pain,
Matt Gilham, Director, Whitelk
LV= GENERAL INSURANCE
Customer First, Ben Fletcher, Head of
Financial Crime, LV= General Insurance
53 IASIU
Safeguarding the Unsung Heroes:
Enhancing Investigator Safety in
Insurance Fraud Cases, Aimee
Stidham, Vice President, IASIU, and
Manager – Special Investigations, WCF
Insurance
54
MARSHMALLOW
Safeguarding the Integrity of
Insurance, Andy Pickard, Policy Fraud
Operations Manager, Marshmallow
RESPONDING TO THE
NEEDS OF THE MARKET:
A Q&A with Sarah Glenn, UK Director
of Sales – Specialist Investigation
Services, Charles Taylor
66
67
68
69
70
71
72
73
75
Welcome - Bradley Collins, Chief
Commercial Officer, Insurtech
Insights
AXA Retail - Tara Foley, CEO of AXA
Retail
Munich Re - Dr. Fabian Winter, Group
Chief Data Officer at Munich Re
EIS - Anthony Grosso, CMO of EIS
33 MASS
Zego
Rebalancing
- Sten Saar,
the
CEO
Pendulum
of Zego
of Justice,
Sue Brown, Chair, Motor Accident
Aon Solicitors - Marguerite Society Soeteman-Reijnen,
(MASS)
Chairman Executive Board, Aon
Holdings APIL
Injury Awareness Week, Mike Benner,
Chief Executive, Association of Personal
Arma
Injury
Karma
Lawyers
- Ben
(APIL)
Smyth, CEO,
Arma Karma
Revolut - Balázs Gáti, Global Head of
Insurance, Revolut
35 CHO
37 CII
The State of the Industry, Anthony
BIMA Hughes, - Mathilda Chair Strom, & CEO, Co-Founder
The Credit Hire
& Deputy Organisation CEO, BIMA (CHO)
WTW - Pardeep Bassi, Global
FOIL
Proposition
A Shadow
Leader
Over Social
– Data
Housing,
Science,
Sarah
WTW Davisworth, Partner at Forbes Solicitors
and Member of the Forum of Insurance
Lawyers (FOIL)
Insur.Tech.Talk
Editorial Board
Experts from within the Insurtech
sector Consumers and beyond and the share Motor their Insurance unique
insights. Market, In Dr this Matthew issue, we Connell, look at Director,
balancing Policy and automation Public Affairs, with customer Chartered
satisfaction, Insurance the Institute concept (CII) of ‘digital
transformation’, and how new signals
point MGAA to technology as a solution to
address Claims economic Outsourcing concerns. Under the Spotlight
Once Again, Mike Keating, CEO,
Managing General Agents’ Association
INSUR.TECH.TALK (MGAA) BOARD
39 BIBA
Motor Insurance – Political Challenge or
Opportunity? Shayne Halfpenny-Ray,
Head of Policy and Public Affairs, British
Insurance Brokers’ Association (BIBA)
NBRA
The State of the Industry: Navigating
Tensions, Thomas Hudd, National
Technical Manager, National Body
Repair Association (NBRA)
MODERN INSURANCE | 7

INSIGHT
A TEMPERATURE CHECK
ON INSURANCE
INNOVATION
8 | MODERN INSURANCE

It’s fair to say that insurance has a bit
of a reputation for not being the most
innovative industry in the world. Perhaps
that’s been a fair assessment in the past,
but it certainly isn’t the case anymore!
Between autonomous vehicles, data, AI,
changing business models, ecosystems,
climate change and much more, the
shape of the insurance industry is
evolving faster and faster all the time.
Here are three key trends driving this
evolution in our modern-day insurance
landscape.
The Fight Against Climate Change
Insurance clearly has a huge role to play in the fight
against climate change; not just in reducing their own
emissions, but also when it comes to working across
society to help customers and businesses adopt greener
ways of living. The imperative for this has never been
more evident. In the US, insurers are pulling out of the
home insurance markets in California and Florida – the
two states most affected by climate change – as a result
of an inability to write profitable business there in the
face of rapidly increasing risk profiles.
No surprise then that in our recent Advisory Board,
a great deal of discussion turned on green insurance
solutions. The imperative for these was most clear in
commercial property lines, where our Board have seen
customers become increasingly concerned with not just
the price of a repair, but also its life expectancy and
carbon footprint. There was real optimism that insurers
could make a significant difference to climate efforts in
this area, depending on the appetite of customers to
engage in the conversation.
Across personal lines, our Board also acknowledged
that customers are increasingly engaged with climaterelated
issues. However, these are customers who don’t
have the same ESG incentives as businesses do, and
who are deeply price sensitive at a time when prices are
increasing. The general feeling of the Board was that this
is less of an area where insurers have the ability to take
the lead with green insurance solutions.
That said, and taking a longer-term view, some of our
Members were excited about dealing with more climateconscious
customers, particularly from a reputational
standpoint. It is clear that the opportunity to showcase
insurance as an industry which both cares about and
takes action on climate issues would go some way
towards improving consumer trust in insurance –
something which has, so far, been lacking.
INSIGHT
Artificial Intelligence:
A Maturing Conversation Around Maturing Technology
You can’t really avoid the topic of Artificial Intelligence
(AI) at the moment; technology that promises to totally
transform the insurance industry as well as many other
aspects of our daily lives. During the hype cycles back
in 2022 and 2023, you’d have been forgiven for thinking
that we’d be living in a completely new world by now,
one built on digital intelligence with an unrecognisably
altered insurance industry.
Of course, that’s not the case. What we are seeing,
though, is insurers making cautious inroads into the
foothills of AI implementation, and starting to engage
seriously with the associated technological, cultural,
ethical, and regulatory hurdles. The hype cycle
implying that insurance would go through a ‘ground-up
transformation’ by 2025 may have ended, but there’s
no doubt that AI is starting to make its presence felt all
across the industry.
We’re all getting used to methods of harnessing AI
in our own lives both professionally and personally,
engagement that continues to generate a groundswell
of demand for wider deployment. Speaking at Insurance
Innovators Summit back in November, Generali’s
Head of Business Relationship Management & Project
Management, Matthew Richardson, went as far as to say
of AI-based change: ‘it’s much easier to get the business
buy-in; now my problem is holding them back!’.
And there are things that insurers need to be cautious
about when designing their AI strategies. An obvious
one is regulation. The EU has already introduced
legislation controlling and limiting certain uses of
Artificial Intelligence through its EU AI Act. In the UK,
we don’t yet know what the future of regulation looks
like, especially given the recent election, but it seems
that Labour will take a stricter approach than the
more laissez-faire stance of the Conservatives. Their
manifesto talks about a Regulatory Innovation Office
to update regulation and promises to ‘ensure the safe
development and use of AI models by introducing
binding regulation on the handful of companies
developing the most powerful AI models’. 1
Consumer sentiment must also influence the use
of AI. A study in the Journal of Hospitality Market
and Management 2 found that consumer intention to
purchase a given product fell when that product was
described as ‘AI-powered’ as opposed to ‘high-tech’.
Now, insurers aren’t describing their products as ‘AIpowered’,
but they do need to be careful of consumer
suspicion around AI in general, especially when using
it in sensitive areas such as pricing. It’s clear that AI
has an enormous role to play in improving outcomes
in those sensitive areas, but insurers will need to think
very carefully about building explainability into their
models, and even about human recourse in order to
allay customer concerns.
Correctly implemented, there’s no doubt that AI is
the future – and to some extent, the present – of
insurance. For example, esure’s CEO, David McMillan,
said at Insurance Innovators Summit that ‘there isn’t a
customer who touches esure who doesn’t also touch
AI at some point during their journey’. Meanwhile, AXA
UK recently announced that they have 12 AI initiatives
between proof of concept and proof of value across the
business. 3
MODERN INSURANCE | 9

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INSIGHT
True success in leveraging the technology requires
cultural shifts as well. Alexander Vollert, the Group Chief
Operating Officer of AXA, said at Insurance Innovators
Summit that AXA Group is going through a fundamental
change in the way the company is steered; decisions
have to be moved more towards the frontline as AI
democratises knowledge. This cultural transformation is
informed by a strong moral compass – which Alexander
described as the most difficult thing to get right when
it comes to unlocking scalability. It requires a leadership
who can say what is right and wrong, true and not true,
to combat the risks of disinformation or bias resulting
from algorithms. It is also vital for every individual in the
company to understand and embody the values and
the purpose of the firm, especially as frontline staff are
increasingly empowered to make impactful, technologydriven
decisions.
The Next Steps in Ecosystem Development
Ecosystems are the future of business. Customers
seeking increasing convenience are demanding
the ability to access a suite of products all in one
place, blurring traditional business boundaries. And
the advantages for the players are clear. For those
embedding into others’ ecosystems, they get access
to a whole new customer base (for a fee). For the
orchestrator, it’s a chance to please customers with
a whole range of products, and the ability to charge
partners for access.
To understand the development of ecosystems, insurers
can look to banks, especially the neo-banks, for ideas
and inspiration. Revolut is developing a large portfolio
of digital services connected to banking including
payments, crypto, eSIM data access, hotel offers and
much more, including insurance. 4 Or there’s Starling,
who have leaned into the API economy by modularising
their platform to enable partners to tap into Starling
capabilities and build their own financial products. 5 It’s
worth noting that both of these challengers are turning
significant pre-tax profits, demonstrating the success of
their respective business models.
Insurers (with the exception of Ping An) are not
necessarily racing to become the orchestrators of
ecosystems. The Group Chief Digital Officer of Generali
pointed out at Insurance Innovators Summit that: ‘It’s
easier to play in an ecosystem of our specialism
and area of expertise, rather than trying to
establish a
primary ecosystem ourselves.’
For example, AXA is developing its Digital Commercial
Platform at the moment which will showcase a digital
suite of risk prevention products available to its
clients, helping them to build resilience in the face of
extreme weather, cyber-attacks, and other shocks and
disruptions. 6
An Exciting Time
With all of these things in mind, it’s fair to say that
there’s never been a more compelling time to work in
insurance – an industry which is innovating to make a
real difference in society.
A parting thought from the CEO of RSA:
“Insurance is not just about providing dumb capacity;
it’s providing a facility to develop strong business and
societal outcomes. And if we remain focused on those,
that will be the longevity that insurers will face in this
broader industry.”
If you’re interested in finding out more, and getting
involved in the conversations shaping the future of
insurance, do consider coming along to Insurance
Innovators Summit in November 2024!
Full details are available online at
https://insurance-innovators.com/events/summit
1
https://labour.org.uk/change/kickstart-economic-growth/
2
https://www.tandfonline.com/doi/
full/10.1080/19368623.2024.2368040#abstract
3
https://www.postonline.co.uk/claims/7955484/axa-reveals-how-ai-istransforming-the-business
4
You can find their product list on their website here: https://www.
revolut.com/.
5
https://www.starlingbank.com/banking-services/banking-as-aplatform/.
6
https://www.axa.com/en/news/axa-and-aws-developping-first-globalb2b-risk-management-and-prevention-platform.
Although owning the whole
end-to-end value chain might be
best, insurers are not necessarily
well-placed to do that – in part
because they don’t have the
consistent customer engagement
that a bank or a ride sharing
app might achieve. However,
by leveraging partnerships,
there’s no doubt that insurers
can develop new and compelling
propositions with better customer
experiences.
MODERN INSURANCE | 11

INTERVIEWS
TURNING
THE TAP
WITH ALAN CHANDLER
Is the UK insurance
industry heading
towards a soft market,
and what can we do
to respond? Modern
Insurance Magazine
recently caught up with
Alan Chandler to look
at where the market is
heading, considering
how training needs can
evolve to address the
demands caused by
these changes.
Alan, earlier in 2024, you delivered a presentation in
conjunction with the Chartered Insurance Institute (CII)
Q which considered the intricacies of market cycles. What
is an insurance market cycle, and what factors might cause a
market cycle to change?
Demand and supply are volatile in insurance, particularly
the ‘supply’ aspect! Business supply comes in and out a
Alot more than we might see in other industries, and as this
happens, a cyclical movement occurs – a bit like turning a tap on
and off!
Market cycles are caused when there is more demand than
supply, as we’ve seen recently – or conversely, more people in
the market wanting to provide insurance than those seeking to
buy it, as we saw up to 2020. Unfortunately, we do tend to see
a hardening of the market when bad events occur; there often
has to be some pain to end up with some gain, and insurers need
hard market cycles in order to get the rates back up to where
they should be.
The COVID-19 pandemic wasn’t the only thing that caused a hard
market recently. Insurers were already losing money following
some of the major storms and global weather events that we’d
seen around this time; there was no fat in the rates in order to
deal with unexpected catastrophes, so the supply tap turned
off until the market began to look more attractive again. When
12 | MODERN INSURANCE

INTERVIEWS
the market gets rates back to where they should be, we see
a flood of capacity coming back in and the supply tap turns
on, so the market softens. Global insurers have a choice about
which countries they supply to at a given time, so they naturally
increase supply to the UK when the market looks attractive. This
is what we’re seeing at the moment.
While all this is happening, demand for insurance doesn’t really
change all that much. Insurance is the reluctant purchase of
an intangible product; we buy it because we need it, and with
the exception of some minor fluctuations in response to the
economy, demand for insurance stays pretty much consistent. It’s
the supply that changes most.
Q
What about different product lines? How are
these affected by market cycles, and what are the
consequences?
Interestingly, different areas of the industry are all in
unique places at the moment. Financial lines, like D&O
A insurance and professional indemnity, continue to see
reduced rates since the market there turned hard. There’s a lot
of capacity back in those markets now because the rates are so
attractive – insurers see that there’s money to be made in the UK
market.
Meanwhile, Commercial Property and Liability insurance is
softening. It’s not quite a soft market yet, although I’m sure we’ll
see insurers backpedalling on renewal terms as soon as brokers
start to do their fiduciary duty and put their risks around the
market! When brokers fail to do this, insurers still get away with
charging those higher rates, I’m afraid.
On the other hand, Personal lines is heading in the opposite
direction. This side of the industry never saw the hard market
that other areas experienced a few years ago, so now we see
the prices rising as rates catch up with claims inflation. There’s
been very little profit here in recent years; they were really losing
money, so raising the rates is a natural consequence. It’s such a
competitive area of the industry!
So, you’ve got Commercial lines going down the staircase and
Personal lines going up at the moment as a consequence of
these changing market cycles and the discrepancy between
supply and demand in those areas.
What might the consequences of a soft market be for
brokers and underwriters specifically?
Q
A soft market is going to put the onus back on
underwriters to be much better at trading, and they’re
A probably going to have to start answering the phone a
bit more as well! Back in 2020, the whole world seemingly went
home and we entered a hard market; brokers were knocking at
the underwriter’s door and certainly not the other way around!
As we come into a soft market, we’re going to see a new
dynamic in that the really good underwriters are going to have
to work with brokers and support them more with their fiduciary
duties. If you want to avoid competing on price alone then the
offering for clients has to be genuinely better – it can’t just be lip
service, otherwise as a broker, you’ve failed your customers. As
an underwriter, you’ve also got to understand your ‘unique selling
point’ in relation to that risk. What gives you competitive edge
and makes your policy better than the rest? In a hard market,
you might be able to get away with not knowing the answer to
this question, but in a soft market you really have to justify it to
your broker partners and tailor that cover correctly. This is why
industry knowledge is so vital.
How else can the insurance industry maintain its present
level of success in a softening market?
Q
A
Insurers will be more pushed on profit; they’re going to
have to be much better at underwriting and conduct
much better trading. Brokers may also lose a bit of
commission and as such, they might in some cases want to move
away from those volatile commission income streams, adopting
fee-based strategies instead. Interest rates are also still pretty
decent at the moment, and insurers often skip over the fact that
they are making a lot of money from investment income too, so
it’s certainly not all doom and gloom for insurers entering a soft
market!
The insurers that will struggle are the ones that don’t train their
staff well. As I alluded to earlier, you can get away with being a
bad underwriter in a hard market, but in a soft market, you’ve got
to be more discerning. This is why I see underwriters that know
how to trade and spot good risks continuing to do well; strong,
knowledgeable underwriters are great in soft markets.
With this in mind, how might training and education
evolve across the industry as the market softens?
Q
You’ve got to understand what your competitors are
offering when you’re battling a soft market in order to
Aascertain whether or not you have a genuine competitive
advantage. Every insurer offers ‘good’ cover, but what makes
yours the best?
Most underwriters do not know what their competitors offer,
so they can’t answer this question because insurers rarely train
underwriters on wider market offerings. They only get taught
their own product range without any market context, and whilst
you may have genuine market leading cover, staff are often
unable to articulate precisely what this is for the benefit of
brokers.
This is why exams and accreditations are so important in this
industry; your staff have to understand why the policy is a great
one. Don’t rely on brokers understanding every facet of every
market! They need underwriters to pull their weight, tailor the
risk and showcase their knowledge accordingly.
Finally, a great broker will also be able to pick up on where
coverage falls short and articulate where a claim can occur in a
real-world context, and in plain English. However, they need the
help of knowledgeable underwriters to partner with them on this
and create client tailored solutions which focus on quality cover,
not just the cheapest price.
How do these needs tie in with your vision of a modern
insurance industry?
Q
A
Regulation has definitely changed and improved things
tremendously for our industry. Let’s face it, the ‘good old
days’ were seldom good days for customers, and it’s great
to see the regulators lifting those customers up and placing them
at the very heart of the conversation.
In my opinion, the regulators have lifted that bar but the quality
of training and education within the industry has not followed
suit. There are still practices within this industry that aren’t right,
and we can’t tailor great long-term solutions because brokers still
can’t articulate the intricacies of cover well enough.
Investment in training is paramount; we should be meeting and
exceeding the regulator’s expectations, and there’s a real lack of
consistency in our approach at the moment. That’s the outcome
that I would like to see for a modern insurance industry. When
people go and purchase from our marketplace, I want them
to be served by people who understand their needs properly.
The industry should share the regulator’s vision around positive
outcomes for customers, and if you’re committed to it, you’re
going to find good business. If you’re not committed to it, and
if you bypass the focus on good training, you’re going to suffer
more and more each time the regulator ups the bar.
We should all aspire to reach those standards of genuinely great
customer service, because if you’re professional and train well,
you’ll have a great business for life.
Alan Chandler
Chartered Insurer and CEO of
Alan Chandler Insurance Training
MODERN INSURANCE | 13

INTERVIEWS
RESPONDING
TO A CHANGING
INSURANCE
INDUSTRY
with Waseem Malik, Aviva
Fluctuating claims volumes,
global unrest and extreme weather
events all have an impact on our
modern-day insurance industry.
Modern Insurance Magazine
recently sat down with Waseem
Malik, Chief Claims Officer – UK
General Insurance at Aviva, to
understand best practice in
response to this everchanging
insurance industry.
QWaseem, we’ve seen fluctuating claims volumes across
the industry in the last 12 months which have caused
ripple effects throughout the wider sector.
Can you tell us more about what you’ve seen over at Aviva in
this sense? How are things looking now as we move towards
the latter stages of the year?
AOver the last year, we’ve seen ongoing uncertainty and
volatility in claims inflation, as well as continued global
uncertainty and conflict impacting supply chains. This,
paired with unpredictable patterns of extreme weather, has had
an impact on claims across the global industry.
At Aviva, this is why we try to minimise the impact of inflation
on our customers wherever possible. For example, our work with
Solus - our wholly owned repairer - and our wider repair network
enables us to repair over 80% of our own motor claims. This has
been able to help us mitigate against some of the inflationary
pressures and control costs seen in the wider industry.
QIn personal lines insurance specifically, we’re starting
to see premiums rise as rates catch up with claims
inflation. Can you tell me more about what effect this is
having on Aviva’s claims department?
AWhile the industry tries hard to keep premiums down,
Aviva’s claims department has seen significant inflationary
cost pressures when it comes to meeting claims. In
motor insurance for example, EY has estimated that for every £1
collected in premiums, the industry paid out £1.13 in claims and
expenses (as of July 2024).
Prices have risen for several reasons in home insurance, including
cost of labour due to a skills shortage, a lack of available
tradespeople and an increase in the cost of weather-related
events. This has all lead to higher reinsurance costs.
QDo you have any support in place for customers in order
to prevent underinsurance, or to help them manage
their finances and the rising cost of premiums in this
changing landscape?
AWe always offer our best price to our customers, and
we are confident that we price fairly and responsibly on
a consistent basis. As part of this, it’s important that we
continue to offer customers a choice of products and options so
they can choose the right one for them.
We also strive to ensure that our products offer value for money.
Last year, we launched a new, lower cost home and motor
insurance product in line with customer demand (QuoteMeHappy
Essentials), as well as helping younger drivers to save money on
their car insurance with QuoteMeHappy Connect.
From a home point of view, we have also made some
enhancements to our direct home insurance products. This
provides greater cover for customers, including increased limits
for jewellery, garden equipment and personal belongings.
14 | MODERN INSURANCE

INTERVIEWS
“
In some areas of the UK, we know
that development in flood risk areas
is unavoidable. Where this happens,
buildings must have appropriate flood
resistance, mitigation and resilience
measures built in from the start.
“
QAs we head towards Autumn and Winter here in
the Northern hemisphere, how are Aviva taking a
preventative approach in order to prepare customers
for the consequences of extreme weather?
AIn areas more vulnerable to flooding, we use our flood
mapping technology to check any exposure, proactively
contacting customers ahead of an extreme weather event
in order to reduce and minimise the impact of extreme weather to
their homes.
We also believe that action is needed to make properties more
resilient to the impacts of weather. It’s why we are part of Flood
Re and its Build Back Better scheme to encourage resilience.
QAs we start to consider the industry outlook in 2025 and
beyond, do you have any predictions for forthcoming
trends in claims?
AAcross the market in future, we are likely to see a
continuation of home insurance premiums rising to reflect
the increasing impact and incidence of extreme weather
events, such as flooding and more subsidence claims. In term
of fraudulent claims, fraudsters are using more sophisticated
tactics all the time, but we are alive to the issues and possess the
capability to detect fraudulent activity.
In some areas of the UK, we know that development in flood risk
areas is unavoidable. Where this happens, buildings must have
appropriate flood resistance, mitigation and resilience measures
built in from the start. We are calling for planning rules to be
further strengthened to help prevent the unsuitable development
of homes and commercial buildings in current and future flood
zones.
At this time, we are proud to support 200 customers with flood
resilience measures through the Build Back Better scheme.
QOne year on from the Consumer Duty, how is Aviva
managing relationships with the regulator and ensuring
compliance? What does the regulatory landscape look
like at the moment, and what opportunities or challenges does
this pose?
AWe are supportive of the FCA’s introduction of a new
Consumer Duty, and providing good customer outcomes
has always been a focus for us. We have strengthened
our processes and will continue to work with the regulator as
expectations mature and the regulation evolves.
Waseem Malik,
Chief Claims Officer –
UK General Insurance, Aviva
MODERN INSURANCE | 15

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EDITORIAL BOARD
Reclaiming Stability
The UK insurance industry, specifically motor, is
starting to see levels of claims frequency stabilise.
This follows years of instability, made worse by
enduring high levels of inflation and issues in key
areas of the supply chain.
It has been over three years since the whiplash reforms and the
introduction of the OICP. As such, the lifecycles of injury claims
should have levelled out to a new norm, with the benefits delivered
to customers as promised. However, this is far from the case. Claims
during the first three-year period have taken much longer to resolve
than those submitted under the old portal, with claimants from the
early years still severely impacted. We strive to provide the best
customer service we can, and the fact is, even with A2A integration
with the OICP, lifecycles are still extended. Naturally, this impacts
customer experience.
These reforms should have been a good news story for consumers.
However, coupled with inflationary pressures, the legacy of problems
in the supply chain has left premiums at significantly higher levels
than pre-pandemic and pre-reforms, resulting in negativity when it
comes to public perception.
To complicate things further, we know this doesn’t necessarily mean
that people want a fully digital claims journey. Customers, at a point
that suits them, still want to speak to real people. Given the fact that
there is no ‘one size fits all’ approach when it comes to customer
service excellence, this can make technical innovation rather complex.
There is certainly a need for omni-channel choice. Technology and
process driven is great, but this approach is not for everybody. We
have to listen to our customers, and failure to do so will come at a
cost. If somebody doesn’t receive the service or outcome that they
want, this can lead to reputational damage and escalation on social
media, or through press and consumer bodies.
Concerns surrounding customer service issues are widespread and
increasing; they were even flagged by the new Government during
the recent election campaign. As such, it should come as no surprise
that the attention of the regulators will be well and truly looking in the
direction of the insurance and claims sector through the months and
years ahead.
Donna Richards,
CEO, Carpenters Group
Nevertheless, our success starts and ends with our customers.
We must pre-empt and adapt to their changing expectations and
behaviours, particularly where there is a lack of understanding around
the claims process. In addition, we now live in an increasingly fast
and digitised world. People expect instant responses and immediate
solutions in this digital generation.
When Startups
Come Knocking
We are fortunate to work with some great
customers at ParaCode, and as a relatively new
company, we don’t even have that many yet! We
get to know everyone really well, and each is
unique in what they do in terms of products offered
and approach to distribution. On the basis that
companies with a similar ethos like to work with
each other, we frequently work with startup MGAs,
and as a matter of fact, most of our customers are
startups.
Whilst working with startups poses unique challenges, opportunities
are presented as well. We are often approached by newly minted
MGAs before their product is fully formed and signed off by their
insurer. A typical onboarding can take three to six months, so the MGA
very often wants to kick start the implementation work sooner rather
than later, so that they are ready to trade as soon as their binder is in
place.
Invariably, there are many unknowns when the project kicks off,
with the only certainty being that there will be many changes to the
specification along the way. Unlike an established MGA, a startup does
not necessarily have a fully fleshed-out underwriting guide, template
documents or bordereaux and reports to work with. Therefore,
estimating the project is something of a shot in the dark. Experience
with previous customers definitely helps in setting high level
expectations, and inclusion of a contingency budget in terms of time
and money is essential.
In terms of opportunities, a startup MGA is not constrained by existing
systems and processes, which means that it is often more open
minded about how things can be achieved. The absence of a ‘we’ve
always done it this way’ mindset is very refreshing, and it allows us to
concentrate on the critical things that will make a difference in how an
MGA works, rather than the minutia of administrative detail.
Any software implementation involves a lot of hard graft, and a
startup MGA project is no different. For the MGA, it can often be far
more challenging than expected. Balancing the demands of getting
their product signed off by an insurer, gaining regulatory approval
and developing relationships with their brokers - alongside managing
the project from their side - is difficult. Often, the founders of a new
MGA will be experienced underwriters who will almost certainly have
used a variety of software platforms during their career but will not
have managed a software implementation before. We do our best to
coach (and sometimes cajole) our customers in the right direction, as
ultimately, we are just as keen as they are to get them live.
And after all that hard work, blood, sweat and tears, the glorious day
arrives: go-live. The MGA writes its first policy and is on its way. We
sit back, relax… but not for long. The next startup is knocking on our
door.
Will Prest,
Product Manager, ParaCode
MODERN INSURANCE | 17

Providing amazing standards of service
Providing amazing standards of service
Providing amazing standards of service
Providing amazing standards of service
Providing amazing standards of service
Providing amazing standards of service
Providing amazing standards of service
……and we do other stuff as well

EDITORIAL BOARD
Challenges as Opportunities
Almost a year on from the introduction of
Consumer Duty regulations, it seems somewhat
advantageous that the key industry challenge of
reduced volume has come at an opportunistic
time, certainly from a supplier point of view.
Some insurers are reporting a reduction in claims of up to 15%,
with a variety of macro reasons for the decline. On face value
though, whether it’s the continued increase in policy excess
or the mild winter that is aiding this reduction, NWVA are
certainly turning this business challenge into an opportunity.
Our ‘Customer First’ approach to recovery has always been
at the heart of our solutions, and we’ve considered customer
service to be our duty since inception. However, as part of our
continuous improvement, we’ve harnessed every additional
resource into making our service proposition stronger than
ever.
Onward travel after an accident has always been a key
part of our service offering. Historically, insurers have been
somewhat constrained by policy wordings in terms of where
and when this part of the service can be offered, but we’ve
worked in partnership with our insurer customers in the last
12 months to nurture processes and soft skills which make the
identification of vulnerabilities much easier. Rarely is there
anything stopping us from ensuring that the customer and
their passengers are safe.
The reduction in volume has of course directly affected
repairer capacity, as well as the challenges faced 12 months
ago where the industry saw significant issues obtaining parts.
This now seems to be a thing of the past, easing the process
of delivering vehicles into bodyshops without the fear of
being turned away at the gate.
The knock-on effect of long storage periods also seems
to have been reduced, and whilst it may not be a common
belief that recovery agents don’t like long term storage, this
genuinely is the case. Storage is uneconomical in the long
term with huge environmental effects, as badly damaged
vehicles heighten the risk of fuel and oil leakage. Therefore,
storage reduction and process streamlining forms a key part
of our ESG strategy throughout the coming decade.
There are a number of industry challenges right now, but we
certainly see all of them as new opportunities.
Mick Jennings,
Managing Director, Nationwide Vehicle Assistance (NWVA)
Mitigating the Risk of Future
Parts Delay Challenges
The vehicle repair industry has faced
unprecedented challenges over the past few years
due to parts supply disruptions. Insurers, MGAs and
brokers have all felt the impact, with repair times
stretching longer and costs soaring.
Despite recent improvements and stabilised shipping times, specific
manufacturers and high-demand parts continue to present hurdles.
5–10% of repairs are still delayed due to back-order parts according to
research by ‘Activate Parts’, Activate Group’s specialist parts division.
With the pain of these delays fresh in our minds, now is the perfect time
for the insurance sector to rethink its strategy and mitigate future risks
more effectively. By taking a proactive approach, we can navigate these
challenges and enhance our overall efficiency.
Typically, insurers, MGAs and brokers have had limited control over parts
procurement beyond defining a parts policy. Repairs are allocated to a
bodyshop, where an estimate is created and parts are sourced through
its preferred supplier.
Traditionally, insurers mandate the use of new, manufacturer-approved
(OEM) parts, leaving repairers with limited options when demand
exceeds supply. So, what’s the solution?
Establish Direct Links with the Parts Supply Chain
One effective strategy is to create direct connections with the parts
supply chain. For example, at Activate Group, our in-house parts business
‘Activate Parts’ is a fantastic asset in reducing parts delay times. As a
parts wholesaler, the business has direct links to over 150 parts suppliers
across the UK, providing a significant advantage in managing parts
delays. Our team proactively reviews claims delayed by back-order parts,
sourcing the part faster in 40% of cases and significantly improving keyto-key
times.
Review and Revise Your Parts Policy
It’s also essential to review and update your parts policy in order to
incorporate greater flexibility, reduce costs, and improve delivery times.
Consider allowing the use of green and aftermarket parts, which are
widely trusted across the fleet and repair industries. This offers low-cost,
high-quality alternatives to OEM parts.
Original Equipment Supplier (OES) or aftermarket parts are made to
exact manufacturer specifications by an approved supplier. These parts
are less expensive without sacrificing quality, and come with a guarantee
that matches or even exceeds that offered by the manufacturer.
Finally, using green or recycled parts is an excellent way to support
your business sustainability goals. These parts are extensively checked,
fully traceable, and come with a lengthy quality guarantee, while also
reducing costs and minimising delays.
Consider Centralised Parts Procurement
Consider if a centralised team could help to improve control and
visibility. This has proved an effective measure in supporting customers
at Activate Group; for example, Activate Parts manage parts
procurement for all our owned Activate Accident Repair bodyshops.
This offers improved availability, excellent cost control, and greater use
of green and aftermarket parts in line with customer parts policy. Plus,
centralised parts supply provides access to a more complete data
set, providing timely information about parts cost and availability and
supporting faster total loss decisions.
While the worst of the parts delays may have eased, recent challenges
highlight an area that motor insurers have not typically prioritised.
Now is the perfect time to think outside the box and explore how a
new approach to vehicle parts can positively impact flexibility, claim
resolution times, costs, and sustainability targets.
Adrian Furness,
Managing Director, Motor Repair Network (an Activate Group business)
MODERN INSURANCE | 19

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EDITORIAL BOARD
Credit Hire: Transformational
Change is Within Reach
From my seat, the CHO market conditions are
improving …slowly.
Over the past few years, we’ve experienced significant
challenges around supply chain disruption, energy, new car
availability and the general cost of living; all of which show
signs of improvement. However, new challenges emerge as
other dissipate. Recruitment, for example, has never been
more difficult.
Accurate forecasting also remains an increasingly complex
challenge, with unexpected fluctuations in volumes, capacity
and demand becoming an everyday norm. Budgeting in this
landscape is almost a ‘best guess’ activity. There’s volatility in
the market which creates opportunity and jeopardy in equal
measure. Staying ahead of this, retaining customers and
attracting new ones has never been more challenging, not to
mention necessary.
However, our remarkable willingness to work together and
improve the mechanics of Credit Hire remains inspiring,
alongside our commitment to improving relationships with
our insurer colleagues and positioning the customer at the
heart of all we do.
So much cost and energy is wasted on endless arguments
that are sadly the norm between insurers and CHO’s,
predominantly borne from a mutual position of mistrust.
Negotiations between representatives from the CHO and the
insurer community to reform the GTA may very well be the
antidote.
These negotiations are reaching their climax, and while there’s
still much to finalise, there’s genuine optimism that when the
reforms are agreed, they will transform our market in a way
that was inconceivable 12 months ago. Costs and friction will
be significantly reduced and the customer experience will be
dramatically improved. What’s not to like about that?
Transformational change is within reach …. we just have to
grab it.
Simon Gallimore,
CEO, EDAM Group
A Path Forward:
Navigating Challenges in
the Rehabilitation Industry
The rehabilitation industry faces a complex
landscape marked by evolving claimant
expectations, post-pandemic supply chain
disruptions, and lack of regulation. These
challenges are shaping the industry’s trajectory
as we approach the latter half of 2024 and
early 2025.
Driven by a demand for greater efficiency and transparency, claimant
and solicitor expectations have shifted dramatically. The rise of
digital platforms has empowered claimants to seek faster resolutions
and higher-quality services, a shift which has increased pressure on
rehabilitation providers to adapt swiftly to these evolving needs.
Compounding these expectations are the post-pandemic supply chain
disruptions. Private hospitals, which have supported the NHS, and the
surge in demand for private treatment have strained the rehabilitation
case life cycle. These disruptions have led to delays and inconsistencies
in service delivery, highlighting the urgent need for alternative delivery
methods.
The industry also lacks a registration body for case managers,
and we currently await the commencement of the Institute of
Registered Case Managers (IRCM) registration process. The absence
of stringent regulations has led to inconsistent practices, especially
among independent case managers. This variability undermines the
effectiveness of case management and erodes trust in the industry.
Furthermore, the growing requirement for rehabilitation providers
to achieve Care Quality Commission (CQC) registration introduces
additional complexity. While the process demands significant
investment, it promises to enhance credibility and trustworthiness.
To address these challenges, we are implementing several strategic
actions. We are actively in the process of CQC registration to solidify
our commitment to quality and compliance. Additionally, as 1 of the 3
IRCM Directors, I am spearheading efforts to launch the case manager
registration process, which aims to standardise practices, enhance
quality, and improve industry trust.
Secondly, we have introduced virtual-first services to overcome
geographical barriers and reduce waiting times. Our innovative
multidisciplinary INA and Pain Management Solutions, delivered
virtually by clinicians, are designed to streamline care and improve
accessibility.
As we move forward into the next 12 months, focusing on these areas
will be crucial. By adopting a proactive and collaborative approach, we
can address immediate challenges and position ourselves for longterm
success in the evolving rehabilitation landscape.
Deborah Edwards,
Chief Executive Officer, RTW Plus
MODERN INSURANCE | 21

EDITORIAL BOARD
The Real Economics
of Reclaimed Parts
Since the pandemic, Original Equipment
Manufacturers have struggled to meet demand
within reasonable timescales, creating an emphasis
on sourcing and supplying reclaimed parts. Partially
as a result of these pressures, the cost of parts
has also been on an upwards spiral, with even the
largest of motor insurers struggling to bring claims
inflation under control.
The time for reclaimed parts to become part of the mainstream of
supply is clearly right here, right now. However, there have been
several false dawns in the past and the penetration of reclaimed parts
in the sector is still frustratingly small, with some assessments coming
in as low as 2% or less of total parts purchases.
It’s All About the Money
Just as important is the relative financial attractiveness of reclaimed
parts to those tasked with buying them – the repairer working on
behalf of insurers, claims managers and fleets. This sub sector of the
trade buyer is not only interested in matching supply and demand
(quickly and with quality parts), but also the margins that they can
make on their purchases. Put simply, the repair centre will typically
want to fit parts where they can earn the highest gross margin.
There may be other considerations (availability, environmental
considerations, customer preference), but, if all else is equal, a
reclaimed part may not be the obvious choice. An OE part might earn
the repairer a gross margin of 15%, but the same part made available
to an insurer at 50% of RRP will demand a gross margin of 30% to
the repairer if they are to break-even on the deal. This extra gross
margin must come from the supplier, the insurer/claims manager, or a
combination of both.
Perhaps one way to re-imagine the prices that insurers/claims
managers should be prepared to pay, and reclaim parts suppliers
should be able to charge, is to examine the true total costs repair
fulfilment to the insurer.
True Cost of Repair
When a vehicle is repaired and the cost is being met by an insurer,
the total cost of that repair is likely to be much greater than that of
the initial estimate and subsequent invoice. Examples of extra costs
can include prospective credit hire charges, authorised car hire costs,
engineering and inspection fees, software transaction fees, complaints
management (which will increase as cycle times increase), and storage
fees (if not stored on an approved repairer site).
Even at the most basic end of the vehicle car parc, credit hire rates
start at £35 per day; a Nissan Qashqai is £75 per day, and a BMW 5
series is almost £200 per day. Even a delay of one day makes the
argument over repairer margins almost redundant when a reclaimed
part might be available to mitigate this issue sooner.
Play Fair, Pay Fair
As the reclaimed parts market becomes ever more sophisticated and
new methods of matching supply and demand come to the fore, it is
also incumbent upon all players involved to examine the real economic
forces at play if we are to maximise the use of available stock.
‘Breaking’ vehicles by the likes of the highly efficient and expert
member suppliers in the e2e network is the easy bit – it’s the
remainder of the equation that needs to be thought through as the
market develops.
Jim Loughran,
CEO, e2e Total Loss Claims Management
More Context for Claims Can
Help Solve Cost Challenges
The insurance market remains under pressure to
deliver not just fairness in pricing but affordability
too, in the face of rising costs in both home and
motor claims. Yet these scenarios are all too common;
a customer bumps into another car at traffic lights
and claims minor damage, while another customer is
involved in a multi-vehicle accident on a roundabout.
Both see their premiums rise, raising the question of
fairness.
The issue lies with a lack of detailed insights into liability stages, loss
causes, and claims payment information when pricing new risks. This
may have hindered an insurer’s ability to offer fair quotes. Plus, when
a new claim occurs, looking at it in the context of past claims has
been difficult due to a dearth of accurate, detailed data.
Contributory claims data can help to address this fundamental
challenge. For instance, the first cross-market claims contributory
database, LexisNexis® Precision Claims, will take a new approach.
A comprehensive view of claims history for individuals and assets
from quote to claim means low-value collisions can be distinguished
from more severe incidents, possibly leading to more personalised or
affordable quotes with fairness front and centre.
In another common scenario, the new owner of a property searches
for a quote for home insurance. The insurance provider sees that
a high premium is due because there has been a history of escape
of water claims at the property prior to the new owner’s tenure.
However, through granular claims data on both the person and
property at the quote stage - contributed by LexisNexis® Precision
Claims - the insurance provider has greater context. For example,
they can see that the applicant has only had one claim submitted in
the past six years; thus, knowing the severity of past claims at the
property, they offer a discount if the new customer agrees to install
an escape of water detector. Friction can be avoided with the new
customer, a personalised quote can be offered, and the risk of a future
claim is mitigated.
Bringing home and motor claims together, here’s a third example
of how contributory claims data can support transparency,
personalisation and affordability. Consider an individual who shops
for a new car insurance policy, despite having multiple claims for
home and motor insurance. Through LexisNexis® Precision Claims,
the insurance provider can view the individual’s complete claims
history across both motor and home insurance, building a complete
picture around the risk of future claims such as windscreen damage.
This allows the insurance provider to price more accurately, and puts
them in a more informed position when it comes to offering tailored
products that mitigate the risk of future claims and meet the needs of
the consumer.
Leveraging the latest advances in data enrichment, including crossmarket
contributory claims data, is the key to overcoming increasing
cost pressures and rising consumer expectations. It can help insurance
providers understand and do more for their customers; from precise
pricing to pre-emptive risk mitigation strategies, LexisNexis® Precision
Claims offers the potential to be more proactive with customers,
reduce claims losses and keep insurance costs in check.
Sam Marsh,
director of product management, UK and Ireland,
LexisNexis Risk Solutions, Insurance
MODERN INSURANCE | 23

Vizion:Collective is an all-encompassing overview of our group of companies; demonstrating
how the collective of individuals, systems and solutions are driven by bold ideas, diverse
perspectives, and collaboration to revolutionise the collision industry. Delivering genuine value
through clarity, innovation, and dedication to all our members, partners and customers. Being
anything less than the best is simply not acceptable.
Operating in a permanent state of improvement, to
achieve and deliver market leading solutions, through open
communication, collaboration and innovation. Promoting
inclusivity for all and commitment to be a force for positive
change within our network and industry.
Working with the group leverages the collective power of
a vast array of dynamic solutions, designed to work in in
isolation but also in perfect harmony, and backed by the
knowledge and experience of industry-leading partners and
individuals. A team with one purpose, to focus on ensuring
that our members and clients receive the very best from us
for their needs now, and for the future.
We look forward to meeting you soon. We will be sharing our
collective Vizion at the major industry events this year, why
not come and say hello, book some time to speak to us, or if
you simply want to know more about Vizion, contact us now.
www.vizionnetwork.co.uk/collective
01482 428200
hello@vizionnetwork.co.uk

EDITORIAL BOARD
The Cost of Doing
Sustainable Business
It’s rare to hear about the cost of doing business
sustainably, but it is an important topic in
the aftermarket automotive glass repair and
replacement industry. At National Windscreens,
our sustainable journey has required substantial
investment and a concerted effort to become
market-leading innovators by utilising technology,
information and data.
Last year, National Windscreens completed 495,845 repairs,
replacements and calibrations. Therefore, meticulously examining
each process is imperative in order to minimise the impact on the
climate. The three areas of the business that we focus on reducing our
emissions are in procurement, transport and energy.
Our proactive sustainability strategy has required investment across
the business. To facilitate our near and short-term plans, I appointed
Craig Gibson as Environmental, Social and Governance (ESG)
Manager. So far, he has made a phenomenal contribution to our
emission reduction strategy.
National Windscreens is also leading the market in the use of electric
vehicles (EVs). EVs are more expensive to lease or purchase, not to
mention the substantial cost of installing the necessary charging
infrastructure for the vehicles. We are also investigating renewable
options, especially the use of solar panels and biofuel.
We work with multiple supplier assessor platforms to choose the
most environmentally conscious partners and suppliers. This helps
National Windscreens to identify suppliers who share our values,
whenever possible, and work closely with them. We pay a premium
to use certified materials, to work with sustainability-minded partners
and gain access to assessment platforms because we recognise the
long-term value.
As a business, all of the replaced windscreens from our fitting centres
are sent to be processed, with 90% of the material recycled into other
products. We are in discussions with our recycling partners regarding
processing the entire windscreen, including the interlayer. Our
recycling costs are extensive, but we understand our responsibility as a
business and as part of the supply chain.
We won multiple industry awards for our inaugural Sustainability
Report, and our partners embraced its detail and transparency. The
time and investment involved in collecting and extracting the data has
been a challenge for a business as large as National Windscreens, but
our partners appreciate the detail behind our approach.
The costs of doing sustainable business are extensive, but we see the
benefits of innovating and engaging with partners and suppliers to
spread awareness as part of our mission. Our Sustainability Report
serves to align the business with the priorities of insurance partners
and their internal ambitions for emission reduction.
We want to work closely with our fleet and insurance partners to offer
the most sustainable aftermarket vehicle glass service in the UK, and
continue to lead the conversation.
Simon Hunt,
Commercial & Services Director, National Windscreens
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EDITORIAL BOARD
The Impact of Advanced
Technologies on Efficiency,
Accuracy and Trust
The use of fraud detection technology continues
to significantly shape the insurance industry by
enhancing efficiency, accuracy, and customer trust.
Advanced technologies such as Artificial Intelligence
(AI), Machine Learning (ML) and vast data analytics
have been essential in transforming fraud detection
processes, leading to several notable changes.
AI and ML algorithms have helped to improve the detection of
fraudulent claims by identifying patterns and anomalies that human
investigators might overlook. These technologies analyse extensive
amounts of data from various sources, drawing upon previous claims,
financial records and voice analysis to detect suspicious behaviour.
Whilst this proactive approach identifies fraud more efficiently
and effectively, it also prevents it by flagging potentially fraudulent
activities before they result in financial loss - all while facilitating an
enhanced customer journey for genuine claimants or applicants.
What’s more, the integration of real-time data and voice analytics has
allowed insurers to take action against fraud attempts more swiftly,
to the benefit of both insurers and policyholders. This also means
that a dubious claim can be flagged and scrutinised within minutes,
ensuring that legitimate claims are processed without delay.
Market data indicates that fraudulent claims continue to add
significant financial burden on the insurance industry, thus leading to
higher premiums for honest customers. By implementing and utilising
available advanced fraud detection technologies, insurers should be
able to reduce cases of fraud, thereby lowering operational costs.
Ideally, these savings would be passed onto customers in the form of
reduced premiums, making insurance more affordable and competitive
in an environment where the cost of living continues to rise.
More positively, the first quarter of 2024 saw a growing trend towards
collaborative efforts among insurance companies to combat fraud.
Shared databases and best practices have emerged, allowing insurers
to pool data and insights on fraudulent activities.
Furthermore, advanced fraud detection technologies have also helped
insurers to comply with regulatory requirements by maintaining
detailed records and audit trails of investigations. The continuous
innovation in this field ensures that fraud detection methods evolve to
counter new and sophisticated fraud tactics.
In summary, utilising the latest available technologies across the
board will help to reshape the insurance industry by making it more
efficient, cost-effective, and customer-friendly. These advancements
will not only enhance the ability to detect and prevent fraud, but also
encourage a more trustworthy and reliable insurance ecosystem.
Lior Koskas,
CEO, Digilog UK
A Bright Future
The first half of 2024 has been a period of change
within the repair industry. While some of these
changes have presented challenges, we have also
found significant opportunities for our business.
With a reduction in claims, we are seeing the supply of accident
repair capacity outstrip the demand from insurance companies and
other customers for the first time in several years. Competition for
work volume has increased, placing greater emphasis on repairers
to perform strongly and offer consistent service at the right price.
Throughout 2024, clients have also shifted their focus back to
the non-repair-based areas of our business, such as sustainability;
diversity, equality, and inclusion; training and apprenticeships; or
culture and values.
Market consolidation has accelerated over the last six months,
with significant acquisitions taking place. Consolidation is altering
the landscape of the industry, with more repair groups offering
national and semi-national accident repair solutions. During the last
six months, we have acquired two businesses, which has added
an additional three sites and strengthened our footprint in the
Midlands and the East of England. We believe that growth is key
to our success, allowing us to benefit from economies of scale and
specialisation of certain roles, as well as offering clients additional
capacity over a wider geographical area as we become a larger
business.
However, some challenges cannot be offset simply through growth.
Industry-wide challenges remain around staffing and salaries, with
significant competition for highly skilled technicians and other expert
roles. Although this may improve in the medium and long term
through apprenticeship programmes, this will remain one of the main
challenges for repairers in the coming years. To ensure we are in a
strong position to compete, we believe in taking a comprehensive
approach to employee remuneration by offering competitive salaries
alongside attractive benefits, such as enhanced sick pay, flexible
working hours, and funded healthcare.
While Consumer Duty legislation has been in place for over a year
now, different clients and repairers are also at varying stages in their
journey of understanding and adoption. This has necessitated the
development of flexible recording and reporting mechanisms, along
with training courses, to ensure that we can meet the requirements of
our clients. Fortunately, with our in-house IT & Change team, together
with our Learning & Development System and Group Customer
Services Manager, we have been able to satisfy these differing
demands.
For those businesses that are prepared to invest and adapt to the
changing landscape, a bright future lies ahead.
Tom Hadfield,
Commercial Director, The Vella Group
MODERN INSURANCE | 27

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EDITORIAL BOARD
Getting to Know… Andy
Chandler, FMG
QAndy, tell us about your role at FMG. What do
you do, and what do you find most interesting
about it?
I am FMG’s Sales and Marketing Director, also
acting on behalf of the Auxillis and FMG Repair
AServices brands within ZIGUP plc. Our businesses
combine seamlessly to create vertically integrated claims
management, vehicle repair and mobility solutions, and
my role within this focuses on creating new business
opportunities within the insurance and fleet marketplace.
This ranges from using our individual brands to open doors,
through to creating attractive and unique propositions
across the breadth of our service offering. I enjoy the
challenge of finding new ways to develop awareness,
recognition and exposure of our services and generate
market conversation using a thought leadership approach,
articulating the wealth of opportunities and value that our
outsource solutions can deliver for insurers.
QWhat are the challenges facing your business
right now, and how are you working to
overcome them?
AThe sheer speed of market change is impacting
every aspect of the insurance industry’s operating
environment, and we’re all working in sync to
constantly evolve our own business operations in order to
meet the changing needs of policyholders.
At FMG, we provide solutions spanning the entire motor
claims lifecycle. This unique operational fulfilment can only
work with customisation as standard, so as policyholders’
needs change, the many facets of our own claims solution
must also evolve with them. We’re further developing
our self-serve technology and intelligent robotics at the
moment, as well as investing in our repair solutions and
keeping an eye on the mid-term market to strategically
prepare for further change.
QIf you could go back to the start of your
professional career, knowing what you now
know, what piece of advice would you give to
yourself?
AWhenever I work alongside the younger generations
within FMG, I am amazed by the unique and
advanced skillsets they display so deftly and far
beyond my comprehension. Whether that’s analytics,
coding, robotics or video editing, my younger self never
predicted the value these skills could have added to my
career. I like to expand my comfort zone and take on new
challenges, so I would advise my younger self to look
ahead and keep an open mind when it comes to new skills
that will serve your future career. Grasp any opportunity to
add to your skill bank and never stop learning!
QWhat would be your prediction for the industry in
2025 and beyond?
AWe’ll continue to see questions and challenges by the
various regulatory authorities that serve our industry
as we collectively work towards ensuring the best
outcomes for all parties – the customer, policyholder, insurer
and supply chain partners. I’d like to see a continued focus
on driving best practice across the industry, as businesses
increasingly become nimbler and adapt to the ever-changing
landscape. I hope that together, we’ll achieve one single
working practice across the industry, developing a better
understanding of market requirements rather than operating
with individual interpretations from different businesses
QWhat has been the most significant or proudest
achievement in your current or previous roles so
far?
AOver the past ten years, I’ve been able to play my
part in helping FMG grow organically, originally as an
independent business and, since 2015, as part of ZIGUP
plc (formerly Redde).
In this time, I’m so proud of the positive impact that we’ve
had on the local economy. Since joining as colleague number
268 in 2014, we employ 890 people today in and around
Huddersfield, providing stable jobs, secure futures and a
strong commitment to being a great place to work. Our 10, 20
and 30-year clubs for long-serving colleagues grow in number
every month, and now incorporate 21% of our people.
As the group of businesses flourished, with FMG Repair
Services established in 2020, we’ve created more job security
at our 67 UK-wide branches. Across the group, we invest
heavily in bringing young people into work through our awardwinning
apprenticeship schemes, particularly as we build
sustainable solutions for the future of claims management.
When we celebrate business growth, I appreciate the positivity
this brings to the everyday lives of so many people connected
to our business.
Andrew Chandler,
Sales & Marketing Director, FMG
MODERN INSURANCE | 29

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ASSOCIATIONS ASSEMBLE
ASSOCIATIONS
ASSEMBLE
Welcome to Associations Assemble!
Modern Insurance Magazine is delighted to be joined by some of the leading
names from our industry associations, organisations and institutes!
This issue voices the thoughts of:
Sue Brown
Chair,
Motor Accident
Solicitors Society (MASS)
Mike Benner
Chief Executive, Association
of Personal Injury Lawyers
(APIL)
Anthony Hughes
Chair and CEO, The Credit Hire
Organisation (CHO)
Sarah Davisworth
Partner at Forbes Solicitors,
Member of the Forum of Insurance
Lawyers (FOIL)
Dr Matthew Connell
Director of Policy
and Public Affairs,
Chartered Insurance Institute (CII)
Mike Keating
CEO,
Managing General Agents’
Association (MGAA)
Shayne Halfpenny-Ray
Head of Policy and Public Affairs,
British Insurance Brokers’
Association (BIBA)
Thomas Hudd
National Technical Manager,
National Body Repair
Association (NBRA)
MODERN INSURANCE | 31

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to support owners of the current and next generation
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For more information, get in touch today and see how The Vella Group can support your customers’ needs.
Tom Hadfield M: 07867 332696 E: thadfield@thevellagroup.co.uk
www.thevellagroup.co.uk

ASSOCIATIONS ASSEMBLE
Sue Brown
Title: Chair
Association: Motor Accident Solicitors Society
(MASS)
Rebalancing the
Pendulum of Justice
Having enjoyed a benign regulatory environment in
recent years, the insurance industry may now face
a more challenging political landscape with a new
Government. During the election campaign, calls
for a regulatory probe into the insurance industry
did not go well, one that aims to determine whether
there are any unfair practices leading to the soaring
costs for consumers.
Premium increases may be largely related to increased
vehicle repair costs, but it was entirely foreseeable that
repair costs would increase with more expensive and
technologically complex vehicles. The sector now needs
to take responsibility for its actions. Cast iron promises
that insurers would return £35 to every consumer
have not been delivered. Subsequent admissions
that premiums will increase by less than they would
otherwise simply do not cut it.
Fundamentally, it was wrong to make unfulfillable
promises to the Government and Parliament in order
to gain a financial advantage in the claims process. A
review of premiums is overdue, and the Government
should work with the FCA to explore all available
options - including forms of price capping - to ensure
that motor insurance remains affordable for consumers,
with annualised savings returned to policy holders.
Predictably, after a sustained period of megaincreases
in premiums, uninsured driving has rapidly
increased. The sector needs to acknowledge and
address the fact that there is a direct causal link
between premium affordability and uninsured driving.
Given that premiums are not going to fall, and the
problem may yet get worse, it is incumbent upon all
interested parties to work together and find solutions.
Having actively campaigned for a fast, frictionless
process for motor accident claims that inevitably leads
to lower levels of fraud checks, the industry now needs
to take action and come forward with changes to their
system to address the potential for greater undetected
fraud.
Dr Mike Matthew BennerConnell
Title: Director Chief Executive of Policy and Public Affairs
Association: Chartered Association Insurance of Personal Institute Injury (CII)
Lawyers (APIL)
Injury Awareness
Week
This summer marks 50 years since the
introduction of the Health and Safety
at Work Act 1974. Therefore, it was
appropriate timing for APIL to focus its
annual Injury Awareness Week event on the
prevalence of workplace injuries and the
impact on businesses, the economy, injured
individuals and their families.
Without doubt, workplaces in the UK are safer since
the Act. However, according to the HSE’s Labour Force
Survey, 561,000 workers were still injured in the last
year. Some of these injuries could and should have been
prevented.
A core element of Injury Awareness Week is to highlight
the significant difference between simple, unavoidable
accidents and negligence, the latter for which someone
can be held to account. This is important because the
right to claim for injuries can be misunderstood, and it’s
a message which the claimant and insurer communities
can both get behind. Compensation is not available
for every and any mishap. It’s there to help victims of
negligence get their lives back on track; after all, some
of those 561,000 injuries were life-changing. Statistics
cannot sufficiently convey the pain, financial pressures
and gross impact on the personal lives of injured
workers.
Injury Awareness Week goes from strength to strength
each year. Support comes from all quarters - from law
firms to members of the public, charities, healthcare
organisations, taxi companies, sports clubs, and
parliamentarians. This year’s event received widespread
coverage in regional news outlets, as well as mentions in
the national press, radio and television. Injury Awareness
Week will be back in June 2025, and in the meantime,
readers can search #IAWeek2024 to catch up on social
media.
In a system that should favour neither claimant or
defendant, the pendulum in recent years has swung
too obviously in favour of defendants. A change in
attitude towards the legal system, access to justice and
legal rights is sorely needed. The pendulum of justice is
overdue a re-balance.
MODERN INSURANCE | 33

ASSOCIATIONS ASSEMBLE
Anthony Hughes
Title: Chair and CEO
Association: Credit Hire Organisation (CHO)
The State of the
Industry
In its latest motor market update, The ABI
notes that premiums have risen by 1% so far
this year, following a 25% increase in 2023.
And, in its latest report, EY found that car
insurers’ net combined ratio — claims and
costs as a percentage of premiums — was
112.8% in 2023, with the industry expected
to post a loss again this year.
At face value, this means insurers are losing 12.8p
on every £1.00 they make in premium income. A
25% increase in premiums has already led to a
Labour pledge to investigate the motor insurance
sector. Meanwhile, claims organisations report a 25%
fall in injury claims and a significant reduction in
compensation payouts following the passing of the Civil
Liability Act in 2018.
Claims costs invariably increase as a result of friction in
the claims journey, so it stands to reason that removing
friction will impact cost. This lies at the heart of what
we are trying to achieve in our negotiations with motor
insurers as we review and revise the GTA.
In credit hire, the GTA is a voluntary protocol with
agreed service standards and charges, aiming to deliver
a better customer experience at a lower overall cost
while reducing friction between all parties. The principle
that self-regulation benefits all sides sits at its core; it
allows for continuous assessment and improvement,
flexibility to take account of volatile market conditions,
and acts as proof of the value and impact of industry
co-operation.
Although it’s good to hear many stakeholders talk
about the importance of partnership, the relationship
between insurers and their claims suppliers has
generally been transactional. We hope that a successful
conclusion to the GTA discussions will demonstrate
the real difference that a genuinely co-operative,
consensual approach can make in claims management,
benefitting the customer through lower premiums and
a better, improved claims journey.
Sarah Davisworth
Title: Partner and Member
Association: Forbes Solicitors and the Forum of
Insurance Lawyers (FOIL)
A Shadow Over
Social Housing
The Grenfell Tower and Awaab Ishak
tragedies have cast a shadow over
the social housing sector. Even the
Government’s press release introducing
Awaab’s Law suggested a reluctance to
repair, particularly with reference to how
the Act would ‘force’ landlords to do so.
They are also faced with a tidal wave
of disrepair claims, further depleting
their resources to inspect and maintain
proactively.
Vulnerable tenants are targeted by aggressive coldcallers,
and many do not realise they have engaged
solicitors. Social landlords should consider launching
their own social media campaigns, inviting tenants to
approach them first with their concerns.
Compliance with the Protocol is imperative, and repairs
should be completed swiftly once evidence is obtained.
Appointments should be notified to solicitors, together
with a detailed Schedule. Incidents of ‘no access’ need to
be evidenced, and any disagreement as to the extent of
the works required should not prohibit their completion.
Attention should also be paid to the wording of the
Protocol; ’Before using the Protocol, tenants should
ensure that their landlord is aware of those conditions.
The Protocol is intended for those cases where, despite
the landlord’s knowledge of the poor conditions, matters
remain unresolved.’
If the defects were not previously reported, the
landlord can respond stating that they will treat the
Letter of Claim as notice, investigate and repair. If the
Claimant’s solicitors are not compliant and still seek to
issue proceedings, this can be brought to the court’s
attention.
Some social landlords seek to minimise costs with
in-house inspections. There are advantages to this in
the short-term; it’s quicker and cheaper, although I still
consider an independent expert report to be preferable.
Very little can be done to reduce
the number of claims received,
and whilst they remain one
of the exceptions to Fixed
Recoverable Costs regime,
the upward trajectory will
continue. However, becoming
more savvy in how you
respond should reduce the
costs and time spent dealing
with claims.
MODERN INSURANCE | 35

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ASSOCIATIONS ASSEMBLE
Dr Thomas Matthew Hudd Connell
Title: Director, Policy and Public Affairs
Title: National Technical Manager
Association: Chartered Insurance Institute
Association:
(CII)
Nationwide Bodyshop Repair
Association (NBRA)
Consumers and the
Motor Insurance
Market
Overall, statistics show that customers are
slightly more likely to be satisfied with
their motor policy than they are with other
insurance products.
According to the last edition of the CII Trust Index, 86%
of personal lines motor customers are satisfied with
their provider, compared to 83% for travel and home
insurance. For SMEs, the satisfaction score is 84% for
motor insurance, which is the same score as employer’s
liability insurance, one percentage point ahead of
property insurance, and 8 percentage points ahead of
business interruption insurance.
To gauge where insurers can improve, we asked
consumers and SMEs to rate around 50 statements
according to importance and performance. Even
though prices have been rising, consumers and SMEs
do not see price as the most important factor in buying
and renewing insurance. Both consumers and SMEs
rate the statement ‘The policy quote was the cheapest
one I got’ far lower than statements like ‘I know what
the policy covers and excludes’ and ‘My insurer handled
my complaint professionally and fairly’. Quality still
counts for more than price.
However, rising costs make consumers and SMEs
concerned that they may not be getting the best value
compared to other customers who present the same
level of risk. For SMEs, the one area where customers
would be most receptive to an improvement from
insurers was ‘My insurer assessed my risk individually,
rather than using generic assumptions’. For retail
consumers, the key statements were ‘I got a discount
for staying with the same company’ and ‘My provider
takes my loyalty into account when calculating renewal
quotes after I have claimed’.
As finances get tighter for households and businesses,
customers don’t want motor insurers to sacrifice the
quality of cover for a lower cost. However, they do want
to pay a fair price for their cover, and certainly not a
penny more than their peers.
Mike Keating
Title: CEO
Association: Managing General Agents’
Association (MGAA)
Claims Outsourcing
Under the Spotlight
Once Again
Claims outsourcing by insurers, MGAs
and brokers is commonplace across our
industry, and for good reason. The best
claims partnerships place a sharp focus on
ensuring that the customer sits at the very
heart of the process, and that all parties
involved in the claims-chain have access
to real-time management information to
monitor all key performance metrics.
However, during two recent Financial Conduct Authority
(FCA) briefings - one at our MGAA Conference, and
the other an ‘open mic’ session with the FCA’s Head of
Insurance, Matt Brewis - it was clear that the regulator
is still not satisfied with some aspects of the claims
outsourcing model, and its potential ramifications on
customer outcomes and satisfaction. Clearly, the devil
will be in the detail, and the FCA is set to inform the
market of its specific concerns, and any actions required,
in the not-too-distant future.
The FCA’s initiative does however provide the
opportunity for all stakeholders in the claims outsourcing
chain to take a raincheck, ensuring that all processes -
including third party supplier instructions - are robust
and customer orientated.
We can test the process by assessing a claim from
an end customer perspective, looking closely at what
communication is provided, who the customer contacts
in the event of a problem, and how often the customer
is updated. These are just a few examples of the sort of
questions the FCA will be considering, but as a sector,
it’s vital that by outsourcing the most important part of
the insurance contract, we are not also trying to abdicate
our responsibility for supporting customers when they
need us most.
Going forwards, the FCA will be challenging and holding
organisations more accountable when it comes to
outsourcing, particularly with regards to governance,
oversight, management information and customer
satisfaction - with the expectation that this should be of
the highest quality.
MODERN INSURANCE | 37

ASSOCIATIONS ASSEMBLE
Shayne Thomas Halfpenny-Ray
Hudd
Title: Head of Policy and Public Affairs
Title: National Technical Manager
Association: British Insurance Brokers’
Association:
Association
Nationwide
(BIBA)
Bodyshop Repair
Association (NBRA)
Motor Insurance –
Political Challenge
or Opportunity?
We’ve all seen headlines about motor
insurance premiums reaching a heightened
level of political saliency, particularly where
this coincides with cost-of-living pressures.
All elected representatives received
representations around these expenses,
and the Labour Party have indeed called
for an investigation by the Competition
and Markets Authority (CMA) and Financial
Conduct Authority (FCA) on the cost of
motor premiums.
When it comes to the reason behind these cost
increases, insurers have cited inflation, energy price
increases and impacts to global supply chains, alongside
an increase in claims and associated claims costs.
There are also challenges with electric vehicles (EVs),
their associated costs and complexity of repairs - an
important issue given the expected transition from
traditional vehicles.
We also see some localised challenges. For example,
in Northern Ireland, specific factors such as elongated
supply chains post-Brexit and a high Ogden rate of -1.5%
seem to be driving higher premiums. Suffice to say, it’s a
difficult time for both insurers and brokers alike.
EY’s latest research reveals insurers are making
substantial underwriting losses on motor insurance,
with a market combined ratio of 112.8%. This presents
a challenge to brokers and customers, both relating
to affordability and, in some cases, access to capacity.
BIBA has implemented cost-of-living guidance, as well
as a specific EV scheme with Novo to try to address
some of these challenges. In spite of this, more action is
desperately needed.
We should welcome this political challenge as an
opportunity to highlight what contributes to premiums
beyond individual risk profiles, revealing a much more
interconnected system. It’s also a test
for the Government to take on
board issues identified by the
claims industry.
Of course, one immediate
lever available is to reduce
insurance premium tax. BIBA
stands ready to work with
the Government and wider
industry to achieve this.
Thomas Hudd
Title: National Technical Manager
Association: National Body Repair Association
(NBRA)
The State of the
Industry: Navigating
Tensions
In the modern accident repair ecosystem,
insurers, bodyshops, and consumers often
find themselves at odds.
Here are some of the key points to consider:
Cost Pressures.
Insurance companies aim to minimise repair costs, while
bodyshops strive to restore vehicles to pre-accident
condition. This tension arises due to the rising costs
associated with repairing modern vehicles, especially
those made from lightweight synthetic materials or
highly technical components that require programming
or recalibration. Oftentimes, the work provider may not
have enough skilled staff to determine the correct repair
process, removing items from the repair estimate only to
be corrected by a more competent person later.
Preferred Repair Shops.
Insurers often have a list of ‘preferred’ bodyshops. While
consumers have a right to choose their repair facility,
insurance carriers may reject estimates from nonpreferred
bodyshops or apply an additional excess to
the customer for using a non-approved repairer.
Parts Disputes.
Bodyshops sometimes face pressure to use non-OEM
(original equipment manufacturer), reconditioned,
or salvaged parts. Insurers push for cost-effective
solutions, but this can compromise repair quality or
result in increased lead times. We also have the changed
dynamic of how many images are now required to audit
the repair, and if images are mistakenly not taken, then
the bodyshop runs the risk of not being paid for the
parts or processes involved.
Consumer Rights.
For some, the claims process is seamless. However, it can
easily become a painful process for others, especially if
they have encountered a large excess having not realised
what they signed up for as part of their policy.
MODERN INSURANCE | 39

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THE
FRAUD
BOARD
In these initial few months of a new UK Government, it would be
remiss of me not to address what we might expect, or at least
hope for, in the counter fraud arena.
The Labour Manifesto ran to 142 pages. While economic crime is surprisingly
absent, fraud is fleetingly mentioned: firstly, in terms of appointing a fixedterm
Covid Corruption Minister tasked with recouping public money lost
to pandemic fraud; secondly, the Government wants to introduce a new
‘expanded’ fraud strategy.
However, there’s very little detail beyond these headlines at the moment,
other than to say that the Government wants to tackle the full range of
threats, including online, public sector and serious fraud. And despite the
inclusion of a whopping 38 new Bills, the King’s Speech omitted to reference
the need to tackle the current fraud epidemic.
What we do know is that the new Government was highly critical of the
current Fraud Strategy, dismissing it as being ‘too little, too late’ and not
proportionate to the scale of the threat. So, what approach should the
Government take?
Fraud is often described as being “everybody’s problem, but nobody’s
priority”. Indeed, a 2022 House of Lords report described it as a
“responsibility vacuum”. The Government is yet to disclose its hand as
to the counter fraud governance framework it intends to put in place.
However, it would certainly be disappointing if the Anti-Fraud Champion
was discontinued, not least because key parts of the role were to drive
collaboration (including in information sharing), as well as overseeing the
implementation of the Online Fraud Charter, an area of government focus.
The appointment of a single dedicated Minister with responsibility for fraud,
preferably at Cabinet level, would help to ensure that effective policies are
implemented; that legislation and regulatory approaches are agile so they
remain fit for purpose in tackling new trends; and that the efforts of different
counter fraud agencies are properly coordinated. It should bring rigour,
discipline and a degree of ambition necessary to ensure that the reality
matches the Government’s rhetoric. Above all, it would help to ensure that
the Government is held to account for its performance in mitigating the most
reported crime in England and Wales.
Until next time,
Mark
Mark Allen,
Assistant Director, Head of Fraud and Financial
Crime, Association of British Insurers (ABI)
MODERN INSURANCE | 41

EVs drive change in the
motor claims process
As the UK turns towards a cleaner, greener
future, the transition to electric vehicles (EVs)
is accelerating and it’s reshaping the motor
insurance landscape as we know it. Our
collective commitment to Net Zero 2050 is
pushing the mechanics of that transition to
the top of insurers agendas, since this
adoption isn't just about replacing old
vehicles with new, its about an evolution in
vehicle technology, supply chains, repair
costs, loss ratios and underwriting criteria.
Here at FMG the proportion of alternative
fuelled vehicle (AFVs) repairs has increased
rapidly, from around 3% in 2019 to 26% in
2023. Such rapid growth has been
underpinned by greater choice and availability
of EV models to suit most commercial and
personal requirements, investment in
infrastructure and increased affordability.
Company car drivers are enticed by the
continuation of the benefit in kind framework
and more salary sacrifice schemes, and it is
expected that we will see greater adoption of
EV in the consumer landscape as incentives are
aligned and the infrastructure matures.
EVs are driving change in the repairer
landscape, adding complexity and cost and
the powertrain is only part of the story,
alongside advanced vehicle technology,
manufacturer materials, recovery and repair
methods and the role of the OEM within the
supply chain.
Every step of the motor claims process must
evolve to accommodate EVs and for insurers
this requires a review of policy wording and
underwriting. Critical factors to consider in a
fair and comprehensive EV policy include
mobility solutions (since policyholders rightly
expect EV for EV), repair costs, resale value,
range anxiety and roadside assistance, fire risk
and manufacturer warranty coverage.
“We’ve entered the age of ev”
marketing1@fmg.co.uk
0344 243 8888
www.fmg.co.uk

Here’s where partnering with a trusted claims
management expert can provide a world of
reassurance, serving as a hub of collaboration
between insurers, manufactures, salvage
agents, repairers and the parts supply chain,
as all parties work towards a combined goal.
The recovery, repair and mobility supply
chains provide the key moments of truth for
the policyholder and businesses across these
industries have been evolving for the past
decade to provide the specialist support EVs
need.
They’ve invested heavily in the training,
tooling, technology and equipment needed to
provide effective, efficient and sustainable EV
repair and great customer service from the
many parties involved in the process, from
repair technicians and recovery agents to
claims advisors and parts procurers.
For example, EV recovery requires accurate
triage to a recovery agent with a flatbed
truck for lifting, not towing, the vehicle. EV
repairers need safe storage areas, charging
facilities, EV qualified repair technicians
and access to new parts supplies and body
materials, which in turn require new
tooling and training techniques.
We’ve entered the age of the EV, and the
discussion has moved far beyond the basic
emissions debate to the impact of this new
vehicle technology and composition on
recovery, repair, mobility and insurance
policy cover and underwriting.
“Every step of the motor
claims process must evolve
to accommodate EVs”
Dave Parry - Commercial Director

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THE FRAUD BOARD
WITH NEW
TECHNOLOGY COMES
NEW OPPORTUNITY
“Grown-ups fight with their heads. That’s where
the real battle is, up here in the grey!”
We love a quote, even one taken slightly out of context
to illustrate a point like this one from Colin Farrell’s Coach
in The Gentlemen. How we handle fraud intelligence data,
the grey data - not as a separate function but as part
of a cohesive counter fraud strategy - will differentiate
the successful outcomes available in the fight against
insurance fraud.
Ideally, from a systems and data point of view, fraud
intelligence handling should be integrated into wider
systems and data for preventing, detecting and handling
insurance fraud cases. This will allow analysis of the
intelligence to feed detection and vice versa, leading
to a virtuous cycle of improvement that your artificial
intelligence algorithms can learn from.
There are challenges to doing this well. The first seems
simple; consolidating your fraud intelligence data in one
place. But fraud intelligence comes in many shapes,
forms and formats. Some as structured datasets, others
as emails or phone calls that might get written on a piece
of paper. What’s required is an easy way to ingest data
from whatever source.
Let’s assume you’ve cracked that nut and have all the
data in one place. Now you have to do something with
it! It’s called ‘grey data’ because at this point, you are not
certain enough to automate your processes, and there
are privacy considerations to contemplate as it is being
processed under legitimate interest. What’s needed is the
ability to assess and prioritise each piece of information
in order to apply a weighting to each piece of intelligence
in and of itself, against other intelligence and against your
portfolio as a whole. You also need an audit trail for how
the data is handled and stored to ensure compliance with
data protection laws. Combining case management and
intelligence allows you to combine both activities in the
same system, seamlessly developing intelligence cases
into an investigation and guaranteeing compliance.
New technology provides new opportunity for the
counter fraud professional, and the intelligence space is
no different. Looking at the data ingestion issue, using
Generative AI can take your unstructured intelligence,
standardise the format and summarise the data for
assessment and development by your intelligence
analysts. The appropriate weighting or score can then
feed the detection models.
To return to the quote above, the grown-up way to fight
fraud is to integrate your detection, case management
and intelligence capabilities,
allowing them to seamlessly
work the grey data together
to enhance your capabilities.
NETWATCH WORKS
WITH POLICE TO
DRIVE INDUSTRY-
WIDE EFFICIENCIES
By far and away the biggest industry-wide issue we
are tackling at NetWatch relate to the challenges
insurers face in obtaining information from the Police.
Insurers often need information from the Police in
order to deal with claims, with reasons ranging from
finding out who was involved in an RTA to getting
proof of police attendance at a home break in.
However, obtaining this information is not always
(if ever) easy.
Policing is a nationwide, societal-level challenge, and we
are all aware of the budgetary constraints forces face.
So, perhaps it’s unsurprising that the teams dealing with
disclosures are typically not well-resourced. Officers are also
under pressure to perform other aspects of their role – with
paperwork relating to an event probably lower down their
priorities.
Over the last 5 years, we have delivered a platform which
streamlines the process of ordering reports from the Police,
making it easier for insurers to request the information they
need. This has been a hugely successful project, and we
now have over 2,000 claims handlers utilising the system.
Unfortunately for the Police, this means they are likely
ordering more than before!
Whilst we have undoubtedly solved some problems for
insurers, there’s still a long way to go. Personally, I am heavily
involved in conversations with UK Police Forces at the
moment to further improve processes. Through engagement
and outreach, we can improve secure data transfer (with no
sensitive information lost in the postal network), reduce time
sinks for policing staff by making requests easier to fulfil, and
vastly improve time to deliver. I am confident and optimistic
that the success we find here will have a huge impact on
insurance claims lifecycles, reduce claims spend (as well as
opportunity for fraud!), and critically, help speed up payouts
for claimants. All of this can help reduce premiums across the
board.
It’s a difficult, often infuriating journey, but we are gaining
traction and successfully bringing the Police to the table. The
road ahead is going to be bumpy, and it certainly isn’t well
lit. Therefore, any pressure we can collectively apply through
industry bodies will help to create an industry-wide impact. I
would love to have more of these conversations with (and on
behalf of) insurers, so please do contact me if you are willing
and able to assist!
Martyn Griffiths,
Sales Manager UKISA, FRISS
David Purcell,
Chief Operating Officer, NetWatch Global
MODERN INSURANCE | 45

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leading global claims validation and counter fraud services.
Our full suite of claims validation solutions includes
Fraud Keeper, our proprietary Automated Fraud
Detection software, our multi award winning social
media and open source intelligence tool, Discovery by
Charles Taylor, both of which are supported by internal
and external counter fraud professionals.
GET IN TOUCH
Bobby Gracey
Group Head of Fraud
Find out more
+44 7557 774 577
bobby.gracey@charlestaylor.com
Simon Cook
Director of Investigation Services – UK
+44 7834 098 648
simon.cook@charlestaylor.com

BUILDING A RESILIENT FRAUD
PREVENTION STRATEGY
FOR 2025 AND BEYOND
THE FRAUD BOARD
As the insurance industry navigates the second half of 2024, fraud
tactics continue to evolve, making it crucial for insurers to adopt
resilient and adaptive fraud prevention strategies.
To build a robust fraud prevention strategy for 2025 and beyond, here
are four important aspects to consider in the coming months.
Investment in technology and innovation
Investing in cutting-edge technology is critical when it comes to
staying ahead of fraudsters. Advanced automated fraud detection
tools and real-time analytics has transformed the way insurance
providers detect and prevent fraud, helping to identify patterns and
anomalies that are indicative of fraudulent activity. Real-time analytics
also enables immediate detection and response, minimising potential
losses.
Real-time forensic document and image analysis technology can also
identify AI-generated images, altered metadata, and perform various
forensic screenings on documents and images presented on claims.
Such specialised technology is invaluable in combatting increasingly
sophisticated fraud schemes and enhancing the accuracy and
efficiency of claims validation.
Fostering a culture of vigilance and integrity
While technology is crucial, the human element of fraud prevention
remains indispensable. Insurance providers need to cultivate a culture
of vigilance and integrity within their organisations. Working with
professional partners will provide access to continuous training and
development programmes for employees, equipping them with the
knowledge and skills to effectively recognise and respond to fraud.
Encouraging a proactive mindset among staff can significantly bolster
an organisation’s defences, and by fostering a culture where vigilance
is a core value, insurers can ensure that their teams are always on the
lookout for potential fraud.
Industry-wide collaboration and information sharing
Fraud is a pervasive issue affecting the entire industry, making
collaboration essential. It’s important for insurers to work together by
sharing information and best practice if they want to combat fraud
more effectively. Collaborative initiatives, such as joint investigations
and shared fraud detection technologies, can amplify the efforts of
individual insurers. If the industry pools its resources and expertise, it
will create a more robust defence system against fraudsters.
Adapting to regulatory changes
The regulatory environment will continue to evolve, and insurers must
stay abreast of these changes to ensure compliance and the ongoing
effectiveness of their own fraud prevention strategies. Working with
professional partners like Charles Taylor is one way for insurance
providers to ensure they understand and adapt to new regulations,
even leveraging regulatory requirements to strengthen their fraud
defences. For example, regulations that mandate more rigorous
identity verification processes can be integrated into an insurer’s fraud
prevention strategy, making it more difficult for fraudsters to exploit
weaknesses. Staying informed about regulatory changes and actively
participating in regulatory discussions provides valuable insights and
opportunities to influence policy development.
Bobby Gracey,
Global Head of Counter Fraud, Charles Taylor
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THE FRAUD BOARD
DETECTING DIGITAL
DECEPTION IN CLAIM
PHOTOS
More than 92% of the UK own a smartphone 1 , meaning that
around 61 million people across the country have a
high-resolution digital camera tucked into their pockets. The
ubiquity of these devices has led to efficiencies in the
claim-handling process for many property and casualty
insurers. By enabling insureds, claimants, providers and others
to capture and share photographic evidence in support of
claims, insurers can investigate and process those claims with
increased speed.
These estimates seem like a win-win for insurers and customers.
Policyholders can get faster, simpler service when reporting losses,
and carriers reduce expenses without the need for onsite estimates.
But fraudsters can also benefit from these remote claim estimates,
armed as they are with new tools and methods to defraud insurers
in the claim-handling process. As insurers embrace customer and
claimant-submitted photos, including photo-based estimates, and
accelerate toward straight-through processing, they must reckon with
the growing problem of digital photo fraud.
According to the Association of British Insurers (ABI), detected
fraud costs the UK economy £1.1 billion each year, with an additional
estimate of £1.1 billion going undetected. Fraud is not a new problem
for the industry, but in light of current economic headwinds and the
value of an average scam costing £15,000 2 , reducing the leakage is
critical. Certain factors have contributed to fraud’s growth, including
increased digitalisation, customer-focused claims strategies, and
apathetic consumer attitudes toward insurance fraud.
Digital claims processes have made it easier than ever to commit
fraud, and there are numerous ways to submit fraudulent claims
using loss photos. Many of them are relatively simple. For example,
fraudsters can submit the same image to different insurers as evidence
of losses; a fraudster can also download a picture of damages from
the internet and submit it as evidence of their claim.
The rise of deepfake technology, which allows for the creation of
highly realistic but fake images and videos, poses a significant threat
to various sectors, including the insurance industry. As the technology
becomes more accessible and sophisticated, the potential for its
misuse in policy and claim fraud is a growing concern. The insurance
industry must proactively address the threat of deepfake fraud by
leveraging advanced technology, enhancing verification processes,
and fostering collaboration across the sector. By staying ahead of the
curve and investing in robust detection and prevention strategies,
insurers can mitigate and protect against the risks posed by this
emerging technology.
As digital images become more central to the claim-handling process,
digital forensics technology is vital for insurers. Savvy fraudsters and
opportunists have many ways to trick the system with digital images,
so insurers must be equipped with the latest techniques to quickly
identify and scrutinise non-meritorious claims. Insurers equipped
with effective tools to verify the authenticity of loss photos can
also confidently and accurately pay meritorious claims faster, thus
shortening claim cycle time and improving customer experience.
That’s a true ‘win-win’ for the insurer
and policyholder alike.
1
https://www.uswitch.com/mobiles/studies/
mobile-statistics/
COMMERCIAL INSURANCE
FRAUD IN 2024: THE
STATE OF THE INDUSTRY
As we settle into the latter half of 2024, it’s vital to assess the state
of the commercial insurance industry, particularly from a fraud
standpoint. The landscape has shifted dramatically, presenting new
challenges that require innovative solutions.
Economic pressures, societal changes and rising premiums have
reshaped fraud patterns. Our National SIRA database analysis
shows a 60% increase in misrepresentation cases over the past year,
indicating a shift from organised to opportunistic fraud.
Some of the key challenges include:
Evolving fraud patterns. The rise in opportunistic fraud demands
more nuanced detection approaches.
Data management. Over 80% of insurance data is in the form
of unstructured documents which cannot be analysed for fraud
detection.
Speed of decisions. Balancing thorough fraud checks with swift
decision-making through increased automation.
Cross-industry collaboration. Silos in data across the insurance
industry is hindering detection of fraudulent activities.
To address these challenges, the industry should consider the
following:
Implement full lifecycle protection. Ensure fraud focus across the
full customer lifecycle, from Quotes, Policy, Mid-Term Adjustment and
Claims FNOL to Settlement.
Enhance unstructured data analysis. Invest in AI-powered tools
to analyse large volumes of unstructured data, identifying fraud
indicators that traditional methods might miss.
Foster cross-sector data sharing. Establish partnerships for sharing
data - not just among insurers, but also with the financial sector - to
offer a holistic customer/business view.
Develop adaptive fraud detection. Create flexible systems that
quickly adapt to new fraud patterns, balancing thorough checks with
the efficient processing of legitimate claims.
Invest in continuous education. Regularly update fraud prevention
strategies and train staff on emerging trends.
Commercial insurers are already seeing results from these strategies.
By leveraging OCR technology, they’re improving pricing accuracy
and customer experience. AI-powered document analysis tools are
helping sift through vast amounts of data, identifying potential fraud
indicators more efficiently.
Moreover, breaking down barriers in data sharing is enhancing Know
Your Business (KYB) processes. Insights from the financial sector are
proving crucial in understanding if an organisation or its directors
have engaged in fraudulent activities across industries.
By embracing these innovations, the insurance industry can
collectively address the root causes of fraud while improving
customer experience and operational efficiency. As we move into
2025, our focus must be on creating
a more resilient, collaborative, and
technologically advanced approach to
fraud prevention.
2
https://www.abi.org.uk/news/newsarticles/2023/8/crackdown-on-insurancecheats-delivering-results-but-average-scamup-to-nearly-15000/
Kaye Sydenham,
Product Manager, Anti-Fraud, Verisk
Osman Khurshid,
Chief Client Officer, Synectics Solutions
MODERN INSURANCE | 49

Digital Media Forensics
Detecting image and document fraud early and
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• Exposes pixel manipulation
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• Identify images reused or copied from online
• Early fraud detection
• Efficient claims process
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THE FRAUD BOARD
I HAVE GIVEN A NAME
TO MY PAIN
In the 1989 film ‘Batman,’ Jack Nicholson’s colourful and
exasperated Joker exclaims, “I have given a name to my
pain, and it is Batman!”
While the Dark Knight may thwart Gotham’s villains, I sometimes
fear that our evolution of fraud-fighting capability can become
equally frustrated. Not by a brooding comic book character, but by
something that can cast just as dark a shadow in the world of change
delivery - the Minimum Viable Product (‘MVP’).
Cinderella and the Ugly Sibling
Digital transformation offers massive opportunities for insurance
companies to step-up their approach to counter-fraud. Done well,
digital transformation allows for the integration of anti-fraud tools
in harmony with customer experience throughout the entire quote,
policy and claim lifecycle. It can unlock the use of data from front
end pricing within claims, and intelligence from claims validation
in customer acquisition and onboarding. Transformation offers
the opportunity to address legacy departmental inefficiencies and
break down silo operations, affording the opportunity to embed
data use in real-time provision and decision-making. In short, all
the enablers for excelling in stopping fraud, while optimising goals
in customer experience and operational cost control.
However, if successfully embedded transformation is the Cinderella
story, the Minimum Viable Product has become the ugly sibling.
Often, the forgotten process or solution where capability never
moves beyond ‘just enough’ is business-as-usual and does not
result in the expected value.
Case in Point
If data is our lifeblood in combating insurance fraud, then case
management is our beating heart. It tracks the entire lifecycle
of fraud, collects intelligence and evidence, and is crucial in our
fight against fraudulent activity. The data it captures helps us
understand the performance of our fraud prevention efforts, find
trends and emerging threats, and makes our decision-making
process more data-driven.
However, many teams are still stuck using spreadsheets, which can
be frustrating and may result in questionable data integrity and
vulnerability to loss or corruption. This temporary situation can
become permanent, hindering our operational efficiency.
Escape
The most effective leaders in the field of fraud management have
learned how to reach a form of critical velocity in order to avoid
the gravitational pull and enduring pain of the MVP. And, when it
comes to fraud prevention, the best approach is to avoid accepting
the minimum viable altogether - particularly in the context of
digital transformation - with MVP consistently articulated as a
simple stepping stone and not an acceptable, or final, operational
solution.
Matt Gilham,
Director, Whitelk
CUSTOMER
FIRST
‘Customer first’. What does it mean in terms of preventing
fraud and financial crime? Much is said about technology,
efficiency and ensuring our genuine customer’s claims
journey isn’t disrupted. But is that enough?
Innovation is being used to re-think how we can support our
customers across our industry and services. Examples include
monitoring technology, used to detect and prevent escape of water
claims rather than simply dealing with the issue after the damage has
been done. That same attitude of ‘innovation and prevention’ over
‘detection and reaction’ must be a continued focus for us in the fraud
landscape as well.
Frauds are inherently complex; one of the many reasons it’s the most
common type of crime in the UK, accounting for more than 41% of all
reported crimes.
The previous Government clearly recognised this problem and sought
to join-up different sectors through initiatives such as fraud charters.
We’re now seeing the new Government talk about fraud, including a
reference in its election manifesto to introduce a new expanded fraud
strategy, which is clearly an indication that it’s a priority. You cannot
fix the problem by detection and prosecution alone.
As an industry, how we achieve this approach to prevention and
transparency is challenging.
Some common concerns in raising the profile of fraud include:
Who and how are we educating? Explaining fraud types can act as
a ‘how to guide’ for the would-be fraudster. Consumers also absorb
information on a variety of platforms, so how do you target people
best, and where?
What is the impact to our reputation? Does talking about fraud
negatively impact our brand in some way?
What are the benefits? If we run this campaign, what will it generate?
It can be incredibly difficult to accurately forecast the benefits and
understand the full extent of its reach.
Independently, these arguments are sensible. Equally, however, none
are insurmountable. The reality is that by now, we should have the
right controls in place that give us the confidence to find fraud when
it does occur. Against a backdrop of fraud being the most common
crime type in the UK, what organisation can honestly say that fraud
isn’t a problem? Surely it’s better to be open and transparent if the
ultimate goal is to stop customers becoming victims to fraud?
Hopefully, any pre-conceived or outdated views on fraud
investigations will become a thing of the past. As investigators, our
role is to understand whether something is genuine or fraudulent, and
there’s no way of doing this without explaining the process clearly
and asking open, transparent questions.
Ben Fletcher,
Head of Financial Crime, LV= General Insurance
MODERN INSURANCE | 51

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SAFEGUARDING
THE UNSUNG
HEROES: ENHANCING
INVESTIGATOR
SAFETY IN INSURANCE
FRAUD CASES
In the high-stakes arena of insurance fraud investigations,
the focus frequently falls on the elaborate schemes and
sophisticated tactics employed by fraudsters. However, an
often-overlooked element is the safety and wellbeing of the
investigators themselves. These professionals delve into
complex investigations and encounter potentially hazardous
situations, making their protection a critical priority.
Insurance fraud investigators play a vital role in safeguarding
assets and maintaining the integrity of the industry. However,
their responsibilities come with inherent risks that are sometimes
underestimated. Bad actors, particularly those involved in
extensive fraudulent operations, might resort to aggressive
tactics to shield their illicit activities. Beyond physical threats,
investigators also face significant mental and emotional
challenges, where the pressure to solve intricate puzzles within
demanding deadlines can lead to substantial psychological strain,
contributing to burnout and a decline in job satisfaction.
To address these risks effectively, insurance companies and
investigative agencies need to implement comprehensive safety
measures. One critical strategy is to ensure that safety training is
an essential part of an investigator’s professional development.
This training should encompass self-defense, threat recognition,
emergency response and cybersecurity best practices to
safeguard against digital risks.
Providing mental health support is equally crucial. Investigators
should have access to counseling services and stress
management programs to help them navigate the emotional
challenges of their work. This support can mitigate the impact of
job-related stress and contribute to overall wellbeing.
Moreover, close collaboration with local law enforcement is
essential, particularly for cases involving significant threats.
When necessary, establishing protocols for escalating cases
to law enforcement can also ensure additional protection for
investigators.
Personal safety protocols are also vital. For fieldwork, practices
such as traveling in pairs and using secure communication
methods can help mitigate physical risks. Investigators should be
encouraged to promptly report any suspicious behavior or threats
to enhance their overall safety.
Creating a culture of safety within investigation teams is
fundamental. Leaders should promote open communication
about safety concerns and provide regular updates on best
practices. A supportive work environment, where investigators
feel comfortable discussing their challenges, can lead to more
proactive safety measures and
strengthen overall team resilience.
By recognizing and addressing
these challenges, we honor the
dedication of insurance fraud
investigators, strengthening the
entire field of fraud prevention in the
process.
Aimee Stidham,
Vice President, IASIU, and Manager
– Special Investigations, WCF Insurance
THE FRAUD BOARD
SAFEGUARDING
THE INTEGRITY OF
INSURANCE
We find ourselves at a tipping point - particularly in
relation to policy verification and claims processing -
where the rapid evolution of technology presents both
significant opportunities and serious risks.
The emergence of Generative AI as a tool for creating falsified
images and documents poses a significant challenge, potentially
becoming the weapon of choice for opportunistic policyholders
and organised third-party threat actors looking to commit largescale
fraud. As we navigate this landscape, the question isn’t
just about recognising the problem but also about how we can
proactively combat it.
One of the most pressing issues is the potential for Generative AI
to be used to manipulate the claims processes. As the industry
increasingly moves towards desktop valuations and remote
inspections for speedy claims settlements, the opportunity
for fraudsters to exploit these technologies grows. While the
convenience of remote processes cannot be overstated, they also
open new avenues for fraudulent activity. For example, falsified
images of vehicle damage created through AI could easily
slip through the net, especially when physical inspections are
bypassed.
Therefore, maintaining the practice of physical inspections
is crucial, particularly in high-risk cases. It is a necessary
countermeasure to the rising tide of digital deception. The
industry must ask itself whether declining detection rates indicate
that we are becoming more adept at identifying fraud, or if more
cases are simply going unnoticed.
Beyond claims, the issue of false documentation submitted during
the policy stage continues to plague the industry. Customers
providing misleading information remains a significant concern,
particularly in areas that directly influence pricing. The industry
has made considerable strides over the years in utilising data
sources like electoral rolls and financial footprints to verify
customer information, which fraudsters identified and overcame
by using stolen identities. However, as some insurers target
higher-risk customer bases, the need for robust verification
processes becomes even more critical. The volume of customers
in the insurance industry necessitates tech-driven solutions
that can efficiently sift through data, flag inconsistencies, and
help in the accurate identification of potential fraud. Here,
technology and data are not just tools but essential components
in safeguarding the industry’s integrity.
These challenges are not isolated but are shared across the
industry, highlighting the need for collaboration. Insurers must
work together, sharing insights and strategies to effectively
combat fraud. The way we operate as insurers plays a pivotal role.
Collaborative efforts can lead to the development of industrywide
standards and practices that make it harder for fraudsters to
exploit weaknesses. By working together, we can pool resources,
share intelligence, and implement unified strategies that enhance
our collective ability to detect and
prevent fraudulent activities.
Andy Pickard,
Policy Fraud Operations Manager,
Marshmallow
MODERN INSURANCE | 53

THE FRAUD BOARD
CHARLES TAYLOR:
RESPONDING TO THE NEEDS
OF THE MARKET
In an exclusive interview with Modern Insurance
Magazine, Sarah Glenn and Bobby Gracey
recently sat down to discuss Sarah’s new role
as the UK Director of Sales for Charles Taylor’s
Specialist Investigation Services.
What are the key areas of focus for the team
at the moment, and how will Sarah’s wealth of
experience help to make these goals a reality?
QSarah, congratulations on starting your new
position with Charles Taylor! How are you
settling in?
AThank you! I’m thrilled to join Charles Taylor and
have received such a warm welcome from the
team. The onboarding process has been smooth,
and I’m already diving into several exciting projects. It
feels great to be part of a global organisation with such
a strong reputation, in the company of an abundance of
industry experts and such a strong, innovative approach
towards shaping and supporting the insurance industry.
QTell us a little more about what this role will
entail.
AI’m grateful to be able to bring my 22 years of
experience in fraud detection and prevention to
Charles Taylor Specialist Investigation Services
(SIS). I’ve built valuable industry connections over the
years and have listened and learned to their needs and
demands, which I believe can be met and exceeded by
myself and the Charles Taylor team.
My role involves raising awareness of the
comprehensive services we offer, such as our
‘Discovery’ and ‘Detect’ tools with advanced document
validation techniques, challenging the fraudster by
utilising AI methods. In recent years, insurers have
invested significantly in automated fraud detection
tools and enhanced internal investigation resources;
as a consequence, there’s more investigations to be
instructed outside of the traditional loss adjusting and
claims fraud triage process. Working with insurers,
TPAs, lawyers and corporate
multinationals will be my key
targets as we collaborate
together to defeat the fraudster.
Bobby - with Sarah’s wealth of experience, you
must be delighted to have her join the team!
Q
Taking your joint priorities into account, what are the
key areas of focus for Charles Taylor at the moment?
AI could not be happier to welcome Sarah to our
UK SIS leadership team alongside our Operations
Director, Simon Cook.
The addition of Sarah now provides Charles Taylor with
what I believe to be the strongest and most technically
experienced leadership team in the UK. In the short time
since Sarah joined the company, new and established
client feedback has been incredible, and we have
already developed a strong sales pipeline for the next
12 months. It is our strategic ambition to be regarded as
the UK investigation supplier of choice, and we will do
this by listening, collaborating and responding directly
to the needs of the market. I believe that Charles Taylor
is ideally placed to answer to all insurers’ claims fraud
philosophies, whether they are immature in design or
have been in place for decades.
Which aspects of insurance fraud excite you
both most right now, and how are you hoping to
Q harness these developments and trends for the
betterment of the insurance industry?
AThe integration of Artificial Intelligence and
Machine Learning in fraud detection is really
exciting, as seen through our in-house tools such
as ‘FraudKeeper’ and ‘Detect by CT’. ‘FraudKeeper’
allows us to distinguish risk patterns and anomalies that
would otherwise be impossible to identify manually.
Meanwhile, ‘Detect’ is a market disruptor in terms of
how the industry validates documents and images
containing AI-generated fraud. It is crucial to use these
tools alongside our technically experienced team within
SIS to harness the best investigation skills in the industry.
Combining human IQ with cutting-edge IT, ensuring
the most impactful outcome in fraud detection and
prevention, enables us to stay ahead of the fraudsters
whilst protecting our clients more effectively.
Bobby Gracey,
Global Head of Counter Fraud,
Charles Taylor & Contego
Investigative Services
Sarah Glenn,
UK Director of Sales –
Specialist Investigation Services,
Charles Taylor
54 | MODERN INSURANCE

OUTSOURCED VEHICLE
RECOVERY WITH CMG:
THE BESPOKE SOLUTION TO
ROAD TRAFFIC COLLISION
UPLIFT & STORAGE
Consciously or not, everyone who has ever travelled
up or down the M1 will have seen CMG based at
Newport Pagnell, with additional sites in Milton Keynes,
Northampton and Coventry.
Insurance companies and post-accident vehicle recovery have never really gone
hand-in-hand, but with the evolution of vehicle technology and the complexity
of the powertrains in everyday motor vehicles, is it realistic to subject the body
repair industry to a solution which fits better elsewhere?
Insurers asking bodyshops to complete vehicle uplifts free of charge as part of
their existing service is not good business for anyone, especially when spiraling
costs and other demands are being placed on body repair centres.
How can CMG help?
CMG provide a bespoke Vehicle Recovery solution for insurance companies and
bodyshops alike, allowing both partners to carry on doing what they do best.
Shifts in the vehicle repair industry have been significant in more recent years,
particularly with the greater introduction of Hybrids, Plug in Hybrids and EVs.
This has expanded across the light commercial vehicle sector, ignoring all of
the additional technology which is loaded across various manufacturers and
models. It’s a maze to work through for both industries, be it body repair or
vehicle recovery.
Working closely with mainstream insurers, body repair groups and independent
body repair networks has enabled CMG to more clearly understand frustrations
within the repair supply chain, such as a lack of onsite parking and storage
whilst waiting on parts, or whilst pending collection by salvage partners.
CMG have built bespoke packages for insurers, repairers and repair network
groups by expertly managing the whole process in accordance with regulatory
and legislative compliance.
A family run business since 1972, CMG initially delivered breakdown and
rescue services to their local area of Hemel Hempstead, before expanding to
heavy recovery and opening a new depot in Newport Pagnell back in 1977.
Providing services to breakdown and rescue clubs, police forces, the Highways
Agency, Border Force, vehicle, caravan and motorhome manufacturers, plant
and machinery manufacturers, insurance companies and claims management
companies, CMG work for and on behalf of insurers based in and around
Europe.
Control Room. CMG’s key operational functions are supported by a secure 24/7
x 365 control room, which provides a bespoke FNOL solution and ‘out of hours’
hub for those in need of support.
Frequently Asked Questions
How many recovery vehicles do you have?
CMG have around 165 vehicles, including specialised equipment for
complicated recovery situations.
Do you offer ‘out of hours’ services?
CMG can adhere to bespoke requirements for the individual client, whether
this involves operating their FNOL in an ‘out of hours’ situation or supporting
their overflow volumes during the day. Everything is negotiable, even down to
surge planning for weather events.
What types of vehicles do you recover from Road Traffic Collisions?
CMG recover every vehicle type, from motorbikes and cars through to
supercars and the largest HGV’s, cement mixers and cranes. CMG will attend
to the simplest road traffic collision, right through to some of the more
complicated recoveries in obscure locations.
How often do you provide updates during a recovery operation?
Updates vary according to need, and it’s another service that can be tailored
to each of our partners’ requirements. CMG’s 24/7 x 365 control room can
arrange communication through text messaging or calls, supported all the
while by a bespoke computer system to offer a complete picture at your
fingertips.
For more information about CMG, visit their website:
https://www.cmg-org.com/
Alternatively, please contact Mike Hawcroft via email:
mike.hawcroft@cmg-org.com
Jason Brice,
Managing Director, CMG
Nationwide Fleet Assistance. CMG’s comprehensive network of specialist
technicians are fully equipped with spares and tools, resolving up to 85% of all
vehicle faults at the roadside.
Rescue Transportation and Logistics. With an extensive range of transport
and recovery vehicles, backed by highly skilled technicians and over 50 years
of business experience, CMG provide a professional service supporting the
breakdown, rescue, transport and logistics industry across the UK and Europe.
Automotive Logistics. CMG’s purpose-built transporters are designed to
protect and secure the vehicle on its journey, including safe loading and
unloading. All transportation vehicles are also equipped with real time tracking,
as well as a bespoke job management system.
MODERN INSURANCE | 55

Create inclusive
cultures and
working practices
that embrace
diversity and
drive sustainable
business
THE FESTIVAL
FOR DIVERSITY
AND INCLUSION
IN INSURANCE
24-26 September 2024
diveinfestival.com
@DiveInFest
@DiveInFestival
#DiveIn2024
Registration is now open:
visit www.diveinfestival.com

There is some grim reading in a recent
report by Which? magazine, considering
the experiences of policyholder claimants
from the motor, household, travel, and pet
insurance sectors.
Almost half (yep, nearly 50%) of claimants reported at least
one problem with how their claim was handled. 26% said
that they did not feel clearer about their situation after they
had contacted their insurer, 21% said they had to repeat
information or repeatedly share documentation, and 25%
of those whose claim was rejected said they didn’t know or
understand why this outcome had occurred.
I know that many of my colleagues in the claims and supply
chain sectors will take this opportunity to leap on the report
and condemn the statistical methods used, or perhaps attack
Which? magazine as a source of left-wing revolutionary
ideology. You might even conclude that claimants simply
don’t understand how difficult it is to manage a claim, and
it’s not the same as buying a burger at McDonalds. Wrong!
Whilst a house burning down might indeed be complex,
the simple fact is that we have been managing claims
for hundreds of years, and many of the core problems
behind poor service delivery have still not been resolved.
Nor does the promise of new technology and AI driven
solutions deliver the nirvana that we are all seeking. These
applications merely reflect the underlying culture of the
business and the sector that we work within, so don’t be
fooled into thinking that technology is where the answers lie
either.
With 3,000+ claimants included in the Which? survey, there
must be at least one grain of truth in the assertions being
made here, and we have a real responsibility to provide
meaningful answers.
Living the Dream
I recently attended a client meeting where a staff
presentation was made concerning future plans, growth
ambitions, and some structural changes. Quite rightly,
the CEO made a point that the slides should at least
mention and be based around the stated and published
values of the business.
Rather foolishly, I asked what those values were. Oops!
None of the Senior Management team seemed to
know, but a quick reference to the Employee Handbook
saved the day. What I couldn’t discern was how the
decisions being made, the presentation being shown
or the answers being given to legitimate questions
from employees reflected any of those values. Simply
mentioning them ‘in passing’ is hardly a culture driven
environment...
Embedding New Behaviours
Maybe this singular experience is not representative of
our beloved claims sector, but I suspect that it might be.
The research from Which? suggests that our efforts to
date are not hitting the mark, and I suspect that this is
because we are too focused on ‘strategy’, ‘technology’,
‘claims inflation’ and ‘cost management’. All of these
are merely symptoms and a means to an end; it is the
cultural basis of the business that should be the core
driver of actions being taken, decisions being made, and
investments being approved.
If we genuinely want the next Which? report to read
differently, then we simply cannot continue to do what
we have always done.
The solution lies in embedding the right culture across
our thoughts, words and deeds. Then, and only then, will
we see fundamental and lasting change.
MODERN INSURANCE | 57

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Collaboration Critical in
market
By its very nature, the motor industry is founded in
movement. However, dynamics within the sector have
never moved as substantially and as fast as they have in
the last decade.
The pandemic, changing customer behaviours, new
technologies and new players entering the UK market are all
influencing the sector in profound ways.
This level of change is driving a greater need for collaboration
in order to deliver the highest standards of repair; consistent
and fair outcomes for policyholders; and, of course, commercial
viability for all stakeholders.
On the repair front, the consolidation trend has accelerated
exponentially. In recent months, The Vella Group has expanded
to 15 sites by following the acquisition of Axiom’s two sites
with Stoke-based Brockford Motors – with more growth in the
pipeline. Meanwhile, Gemini Accident Repair Centres acquired
Swindon-based NCR Bodyshops to boost its group to 38 sites;
and was then promptly purchased by Steer Automotive Group,
which had only just brought Chartwell and M&A Coachworks
into its repairer community.
SERVICE
However, simply ‘getting bigger’ is not behind this trend.
Instead, repair groups are acquiring skills to manage an
increasingly advanced car parc and capacity to meet the
service needs of their work provider partners.
Speaking at ARC360’s Future Vehicle Technology themed
conference recently, Victoria Turner, Executive Director,
Ryemarc Group, said, “You don’t make acquisitions purely for
scale in this environment. Instead, they are made for skillsets
and geographical reasons. Also, we hear a lot about Consumer
Duty and what matters to insurers. There’s a service layer there
that repairers don’t always spend a lot of time looking at.”
In highlighting service to ensure Consumer Duty compliance as
a key factor in partnerships, Victoria was on the same page as
Andrew Jobling, Supply Chain Lead, UKGI Supply Chain, Aviva,
and Dawn Marsden, Head of Claims Supplier Management and
Engineering Services, esure.
Also speaking at ARC360’s event, they agreed that selecting
repair partners with a view to better outcomes for their
policyholders was critical to insurers.
the quality of that service. So, if you aren’t already being asked
for more evidence, that is 100% coming because it is a critical
part of Consumer Duty.”
Dawn added, “Repairers aren’t regulated but insurers are, and
although we can outsource the repair, we can’t outsource our
obligations. That means we need to work together. We need
to support those we share data with in terms of cybersecurity,
and they need to support us with managing our regulatory
requirements. There is also a challenge around rising costs and
the need to bring premiums down. That will also require more
efficiency and working together.”
TECHNOLOGY
All of this is taking place while claims volumes have reduced.
Policyholders opting for higher excesses in exchange for lower
premiums is one reason; another is the continued advancement
of crash avoidance systems within modern cars.
Tom Leggett, Thatcham Research’s Vehicle Technology
Manager, has highlighted the ‘hands off, eyes on’ system that
he expects to be included in all models by the middle of next
year. He warned that liability remains with the driver, and the
industry as a whole has a major challenge ahead in highlighting
the difference between assisted and autonomous driving.
He said, “The line is blurring, and will become even more
difficult to manage and understand because systems will
get more advanced and more complicated. This is partly
being driven by demand from regulators around increasing
safety standards. We’ve not yet seen the reduction in claims
frequency that we’d like to, but there has been a reduction in
severity.”
Tom added that full autonomy is still some way off as it is not
yet commercially viable for many manufacturers, but warned
that this could all change in an instant.
He concluded, “If a Chinese vehicle manufacturer penetrates
the market with high-tech vehicles and is brave enough, they
could do an over-the-air update. That is possible.”
Andrew said, “For us, it means producing good outcomes for
our customers in every facet of the claim, and then being able
to evidence it to the FCA. Ultimately, it’s our supply chain that
delivers the service, and there’s a big requirement to evidence
MODERN INSURANCE | 59

minutes with...
Ryan McMahon
Title: Senior Vice President, Cambridge Mobile Telematics
What has been your most memorable career
achievement?
Q
When I joined CMT, telematics-based pricing was not
allowed in either Massachusetts or New York. I worked
Awith a great group of people at the company to help
educate regulators on the benefits of telematics, and within a
few years, these efforts led to millions of people gaining access
to pricing based on how they drive.
Throughout your career so far, what has been the most
valuable piece of advice you’ve received?
Q
The most valuable piece of advice I received was from
Meg Holbrook during my first week on the job at Hanover
A Insurance. Meg ran the claims operation in the Liverpool,
NY office, and told me that “the opportunity to advance in this
business is half on you and half on the company.”
If you work for a firm that’s growing and creates new
opportunities, and if you are proactive, intellectually curious, and
a high achiever, then you are set to have an incredible career.
What has been the key positive or negative aspect of
change in your area of the market?
Q
A recent study by the University of Pennsylvania School
of Medicine was published in the Journal of the American
A Medical Association, showing insurance telematics has the
scientific ability to reduce crash risk and save lives.
CMT has measured and protected over 40 million drivers around
the globe, and the biggest advancement has come through the
use of telematics that goes far beyond pricing. The technology
now detects car crashes and sends emergency services to the
scene, and it helps Uber drivers make more money while driving
safely. It’s astonishing to see how far telematics has come, and
it’s only just getting started!
If you were not in your current position, what would
you like to be doing?
Q
I’ve been fortunate to have the opportunity to learn
from a number of individuals across many industries
A throughout the course of my career so far. I accidentally
became a renaissance man spanning risk, road safety, and
insurance! This has led me to present to groups as varied as the
National Transportation Safety Board (NTSB), National Highway
Safety Traffic Safety Administration (NHTSA), Wall Street,
insurance actuaries, vehicle repairers and collision reconstruction
professionals, as well as commissioners of Departments of
Transportation.
If I were not at CMT, I think I would be applying that knowledge
more broadly. I’d probably start a newsletter, podcast, or
conference event to connect the people I have met over
the years, as I love bringing smart people together to solve
challenging problems around transportation and risk.
What three items would you put on display in a
museum of your life, and why?
Q
I wanted to be a Police Officer at one point, but I failed
the run portion of the fitness test by a few seconds. That
Aturned out to be a gift, so I’d put the shoes I was wearing
that day in the museum.
When I was 16, I flipped a 1996 Pontiac Bonneville - a car that
weighs 3,500 pounds - while racing. I was the only car involved,
and I was able to crawl out of the upside-down vehicle through
broken glass. I wasn’t really hurt, but that event changed my life.
I had already dropped out of high school and was not on a great
path at that point. The car would be in the museum.
Speaking of dropping out of high school, I was so embarrassed
by this for so long. I was not a great student; I was smart, but
took shortcuts. I eventually got to the point where I was failing
due to my own performance. A few of my friends had dropped
out, and I thought that would be an easier path. I took a job
washing cars and moving them around the lot at a car dealership.
I took the job because it satisfied my dad’s requirement of
working full-time, but what it really taught me was that I wanted
something else out of my life. I got my GED and enrolled at
SUNY Potsdam, where I graduated with a 3.97 GPA. I would have
to put my SUNY Potsdam diploma in the museum.
Ryan McMahon,
Senior Vice President,
Cambridge Mobile Telematics (CMT)
MODERN INSURANCE | 61

INSUR.
TECH.
TALK

INSURTECH
WELCOME
Greetings, and welcome
to Insur.Tech.Talk!
I have the best job, working every day with great people doing great things!
In this issue of Insur.Tech.Talk, I highlight the fantastic efforts of the Insurtech
Insights team. We work tirelessly all year to host Insurtech Insights USA
(ITI USA) which just wrapped in NYC this past June. My favorite part of
recognizing the fruits of this labor is seeing all of the key leaders in our
industry under one roof, or in this case, the Jacob Javits Center!
While at ITI USA, I was able to attend the riveting keynote panel discussion:
GenAI Revolutionizing Insurance with Intelligent Next-Gen Core Solutions,
moderated by Majesco CSO and member of Insur.Tech.Talk editorial review
board, Denise Garth. After the keynote, I was able to take a deeper dive into
this topic with Robert Pick of the Tokio Marine Group to learn the importance
of Data Engineering vs. Prompt Engineering in GenAI across the enterprise.
Sandeep Mangaraj from Microsoft shared with me his ‘run, walk, and crawl’
approach to AI in order to foster a culture of innovation and learning. The
partnership between Tokio Marine, Majesco and Microsoft was fascinating to
learn about, and a great example of real-world use-cases of GenAI in action.
At ITI USA, we also loved hosting our colleagues at Broker Tech Ventures
and Holmes Murphy. Dan Keough, CEO of both organizations, shares insights
with us around the distribution landscape and considers the factors keeping
insurance carriers up at night. Susan Winkler, Executive Director of CT
Insurance & Financial Services for the great state of Connecticut gives us a
preview of the ‘Insuring the Future’ event that she is creating in Hartford this
September with the CT Insurance Department, which will focus on one of the
most important global business imperatives – climate risk.
Finally, Gary Hoberman, CEO of Unqork and former CIO of MetLife, considers
what is required to challenge the status quo in a large organization. Or - if you
are the ultimate rebel like Gary - leave to start your own company, one that
solves the problems and obstacles that have been in your way for decades!
Megan
Happy reading,
Megan Kuczynski,
President,
Insurtech Insights
MODERN INSURANCE | 63

INSURTECH
Microsoft
QSandeep, it was so great to see you back in June at
the Insurtech Insights USA Conference in NYC!
We’re in the early innings of AI and GenAI being adopted
in the insurance industry. As you point out, GenAI does
not just analyze data; it creates novel content, insights,
and can even contribute to the design of new products,
fuelling a new wave of growth and innovation. In a recent
article, you referenced Microsoft’s 2024 Work Trend
Index, which revealed 79% of business leaders recognize
the need to integrate AI to remain competitive. However,
59% are struggling with how to measure the return
on investment (ROI) from AI initiatives. This poses a
strategic challenge, with 60% of leaders concerned about
the lack of clear vision for AI implementation.
What is your advice to these business leaders?
AThe pressure that leaders are facing to allocate
limited resources wisely, especially when faced
with uncertain returns, is a challenge I empathize
with. However, as I argue in the article you mentioned,
inaction is not a smart option in a rapidly evolving AI
landscape. The ‘run, walk, crawl’ approach offers a
pragmatic way to navigate this uncertainty.
My advice to business leaders is as follows.
1. Start now, with a low risk ‘run’ approach. This phase
would focus on readily available AI tools for quick wins
and momentum building.
2. Focus on measurable impact as part of the ‘walk’ phase.
Adopt a data-driven approach to prioritize projects
with tangible ROI, which will build confidence in AI’s
transformative potential.
3. Build for the future in the ‘crawl’ phase which, while
resource-intensive, is where you create unique solutions
that set you apart.
The ‘run, walk, crawl’ approach is not just about mitigating
risk; it’s about fostering a culture of innovation and
learning. By embracing AI strategically and iteratively, you
can position your organization for success in the AI-driven
future.
QDuring the Insurtech Insights keynote, ‘GenAI
Revolutionizing Insurance with Intelligent Next
Gen Core Systems’, you emphasized a focus on
outcomes as the guiding force when deciding which kind
of tools to use. Can you expand more on this?
ASure!
Today’s business environment can be
characterized by a relentless pace of innovation, a pace
that is driven by many of the firms represented at the
Insurtech Insights Conference. However, the abundance
of tools and technologies can be overwhelming, so
it’s essential to prioritize business outcomes as the
guiding force when it comes to navigating this complex
landscape. This shifts the conversation from ‘what’s
new?’ to ‘what are we trying to achieve?’, and focuses the
selection on solutions that are effective for your unique
challenges.
Whether you’re exploring new software, implementing
operational changes or investing in emerging
technologies, always begin with a clear understanding
of your desired outcomes. This will guide your decisionmaking
and provide a benchmark against which you can
measure success.
QWhen discussing GenAI, you also emphasized the
importance of the human in the loop. When many
are fearful of AI replacing humans, you place the
highest importance on human ingenuity. Can you share
more with our readers on the importance of the human in
the loop?
AI believe the ‘human in the loop’ concept is central
to the future of work with GenAI because it
acknowledges that AI, while incredibly powerful,
is not a replacement for human intelligence. Instead, it
can augment and enhance our capabilities. The fear of
AI replacing humans is understandable, but the most
impactful AI tools will be those designed to collaborate
with us, not compete against us. The ‘human in the
loop’ approach isn’t merely a temporary safeguard
against GenAI’s shortcomings; it’s a fundamental design
choice that recognizes the irreplaceable value of human
judgement, creativity, and ethical considerations.
AI, even in its most advanced forms, excels at processing
vast amounts of data and generating insights at speeds
humans can’t match. However, it lacks the nuanced
understanding, contextual awareness and ethical
considerations that only humans bring to the table.
The future of work isn’t about humans vs. AI; it’s about
humans with AI!
64 | MODERN INSURANCE

INSURTECH
QBob Pick of Tokio Marine and Manish Shah
from Majesco were also on the keynote panel
at Insurtech Insights. Bob gave a very powerful
statistic from a recent survey Tokio Marine carried out
with over 250 employees across all lines of business,
citing time savings between 19- and 28-minutes using
Microsoft Co-Pilot. When we spoke, you also referred to
Majesco as an early adapter in the Gen AI revolution. Can
you expand on the importance of these partnerships?
AMicrosoft leads with partners. By working with
industry leaders like Tokio Marine and Majesco,
we leverage our strengths to solve complex
challenges and create solutions that drive transformation
across industry and regions.
The survey by Tokio Marine showed significant time
savings for employees using Microsoft Co-Pilot,
demonstrating the benefits of integrating advanced AI
tools into workflows. This improves productivity and
decision-making, allowing employees to focus on more
strategic tasks.
Majesco, an early adopter of Gen AI, is shaping the future
of the insurance industry. Their use of next-generation
core systems enables innovation and growth, and the
integration of Microsoft Co-Pilot into their solutions
reflects our shared commitment to delivering
cutting-edge technology that helps businesses thrive in
a changing landscape.
These partnerships show our collective vision of
harnessing the power of AI to transform industries and
create new opportunities for growth and efficiency.
Sandeep Mangaraj is a seasoned
executive at Microsoft, where he leads
the US Fintech team. His team manages
the end-to-end relationship with
customers, ensuring they achieve their
business outcomes with the leading
technology platform and partner
ecosystem that Microsoft offers. With
deep expertise in Financial Services,
Sandeep focuses on bridging the gap
between the customers’ goals and
Microsoft’s innovative solutions. He
is particularly passionate about the
transformative platform change driven
by AI. Sandeep’s extensive experience
and knowledge in the field make him
a valuable asset to any discussion on
Fintech and its future.
Prior to his current role, Sandeep honed
his skills as a Partner at a Big 4 firm,
where he navigated clients through
disruptive challenges and helped
them capitalize on new technological
capabilities. His passion for driving
meaningful change is evident in his
work, where he consistently fosters a
strong culture and purpose within his
team.
QSo, now that we’re in the second half of 2024,
what is your current industry outlook? Do you
have any predictions to share?
AI love this quote from Justin Trudeau’s 2018 speech
at Davos: “The pace of change has never been this
fast, yet it will never be this slow again.”
This was true in 2018, and it is even more so today. In
this rapidly changing world, predictions are a perilous
business! I will stay away from specifics, but will make
one – the winners will be those firms who embrace
experimentation and foster a ‘test and learn’ culture.
Sandeep Mangaraj,
Managing Director - Fintech, Microsoft
MODERN INSURANCE | 65

INSURTECH
Dan Keough
QDan, it was great to catch up recently! You’ve had
such an illustrative career as Chairman and CEO of
Holmes Murphy and Co-Founder/Co-CEO of
BrokerTech Ventures.
As we pass the midpoint of 2024, how would you
describe current market conditions?
A
The market continues to be a challenge, with
a hard market looming following several years
of property impacts. Despite the challenging
market conditions, we are seeing a great year of
growth and business results at Holmes Murphy.
QWhat top three challenges are most concerning for
carriers right now? And what is your outlook for the
second half of 2024 and the first half of 2025?
A
Three challenges which we hear rising to
the top in terms of concern for our carriers
would include; USA litigation around climate
and tort reform, the insuring of new risks and ‘black
swan’ events, and the continued M&A activity in the
brokerage space.
A benefit of our Partnership model through BTV is
that we have great line of sight and connectivity with
our carrier and wholesaler community – bringing us
insights into what they are seeing and experiencing.
QHow has technology most significantly impacted
the way insurance products are distributed, and
what trends do you foresee in the next five years?
A
Technology will continue to impact the way we
do business, and historically, our industry has
been on the lagging end of embracing change.
Through BrokerTech Ventures, we are providing a
throughput to influence how technology reaches
channels of distribution, and to ultimately impact the
insurance value chain.
Not surprisingly, the greatest segment of technology
which came through our BrokerTech Ventures
application process in 2024 resided in the AI space. I
don’t see this trend slowing down anytime soon, but
I do believe that some of these solutions that use AI
to address problems will ultimately come together
rather than going at it alone.
Q
In what ways have customer expectations evolved
regarding insurance distribution, and how are
companies adapting to meet these changing
demands?
A
We believe that brokers play a critical role
in the impact of distribution. However, we view
the client experience as the driving factor
into the decisions we make around innovation.
QCan you tell me about the evolution of BrokerTech
Ventures, and share any reflections now that you are
approaching five years in business?
A
BrokerTech Ventures was created as a brokerleading
platform to channel Insurtech innovation,
more effectively and positively impacting change
for the broader insurance industry. We founded BTV
with an ‘infinite game’ mindset, whereby we coalesce
like-minded brokers, carriers, and wholesalers to
embrace insurtech as distribution points in the value
chain.
We celebrated BTV’s 5th anniversary in May, and we
are bullish about our future and the impact we can
drive to better our industry. We intend to continue
expanding our global footprint, as well as partnering
with universities and colleges to promote Next
Gen consideration of the insurance industry – with
innovation and change-agency in mind.
Q
Any previews to share on the 4th annual BrokerTech
Connect Conference coming this October?
A
This
year will mark the 4th BrokerTech Connect
Conference, taking place at InsureTech Connect
(ITC) in Las Vegas on October 15th. BTV is
leading the Broker-Neighborhood, as well as all brokercentric
insurtech coverage throughout the week.
A conference as large as ITC can be difficult to
navigate, and we are proud of what we’ve created
through BrokerTech Connect in terms of curated
content and thought-leadership specific to the broker,
carrier, and wholesaler community.
Dan Keough is the Chairman and CEO of Holmes Murphy. His leadership
within Holmes Murphy has led the company to become one of the
nation’s largest independent insurance agencies.
Dan also serves as Co-CEO of BrokerTech Ventures, the first broker-led
convening platform focused on delivering innovation to the insurance
broker industry.
Prior to leading Holmes Murphy, Dan founded Innovative Captive
Strategies, a subsidiary company of Holmes Murphy. His goal was
to develop captive alternatives that would provide businesses with
unexpected sources of revenue while alleviating unnecessary business
expenses.
Dan earned an MBA with a specialty in Finance from Loyola University
Graduate School of Business, and he holds an undergraduate degree in
Business Administration from the University of Iowa.
He is currently a member of the
Highwing Board and has also served on
The Council of Insurance Agents and
Brokers’ Board.
Dan Keough,
Chairman & CEO, Holmes Murphy and
Co-Founder/Co-CEO, BrokerTech Ventures
66 | MODERN INSURANCE

INSURTECH
CT-IFS
QSusan, it was so great to see you at Insurtech
Insights USA! You’ve done an outstanding job firmly
establishing the state of Connecticut as the
insurance capital of the world.
I recently read that the Connecticut Insurance Department
(CID) and CT-IFS have recently joined forces for a big event
in Hartford this September called ‘Insuring the Future’. Can
you share the vision for this important event? What are some
of the most important themes?
AWhat makes Connecticut and the Insurance Capital of
the World so unique is that we really do collaborate
towards the end goal. Our Chief Regulator, the CT
Insurance Department (CID), and CT-IFS are combining
interests and audiences to host the ‘Insuring the Future’
event – focusing exclusively on the business imperative,
climate risk. You will get insider access to risk mitigation
strategies, as well as value-based innovation solutions from
global insurance leaders and national chief regulators, both
of whom play a significant role in shaping our exposure to
climate risk. It’s very exciting!
Q
You are the driving force behind the UK/Connecticut
Insurtech Corridor. It has been so exciting to watch
the development of this program and see such
innovative cross-pond collaboration! Can you give our
readers an update on the program?
AThe Corridor is a driving force of activity in Hartford,
and we cannot slow it down. Through support of CT
stakeholders – academia, regulators, insurers and
distribution partners - we have 18 Corridor companies in our
cohort today and five companies claiming Hartford as their
US home. Our partnership and continued work with the UK
Department of Business & Trade insures more companies in
the pipeline for today and tomorrow.
Q
You talk to insurance carriers every day. As we pass
the mid-way point of 2024, what key issues seem to
be of most concern to them?
AThe CT-IFS Board of Directors met recently and
collectively decided that Talent Development was
the top priority. Burying the bias of insurance jobs,
upskilling for Artificial Intelligence and building culture to
retain talent have all been key topics. Emerging risks, both
national and global, are paramount to new technologies that
support them, such as insurtech. A critical focus area also
involves keeping pace with technologies such as AI as they
are adopted by consumers and businesses.
Q
What advice do you have for insurtech startups that
are soldiering through a hard market, and why should
they consider Connecticut as a place to plant a flag?
AFirsthand, we have a global model to follow with the
Insurtech Corridor. There are ready stakeholders from
academia, our private partners (the insurers) and our
public partners (the CID and DECD) all standing ready to
make the process efficient and fair. While the market may
be hard elsewhere, the market is very much still moving in
Connecticut.
Q
Congratulations on being named a finalist in the 2024
‘Women in Innovation’ Awards by the Connecticut
Technology Council - a great honor! Can you share a
bit about the work you’re doing getting education out to the
next generation around career paths in the insurance and
financial services sectors?
AI am incredibly proud of the Actuarial Boot Camp –
a camp designed by the insurance industry for the
insurance industry. It is 16-years running, taking highschool
juniors/seniors and immersing them into every aspect
of actuarial science. There is a corporate sponsor each year,
and our rate of return is 90%! We also decided to grow our
own actuaries and let them know that jobs were waiting for
them here following college, and it’s really working! We have
many former boot campers that are now practicing actuaries
in our market.
Q
What’s next for Susan Winkler?
AI hope to manage and lead the CT-IFS Board of
Directors for a long while. These are executives that
compete in the open market but around the CT-IFS
table, and they work together towards the common goal
of strengthening and advancing the insurance and financial
services industry in Connecticut. There are not many
organizations in the US like CT-IFS, and our work in insurtech,
fintech technology and talent is a strategic focus for the
future. We can only get stronger together.
Susan Winkler represents the workforce
and business interests of 25 major insurance
and financial services [IFS] companies in
Connecticut, including P&C, life/retirement,
and health insurers, as well as financial
services companies and service providers.
Ms. Winkler provides strategic direction and
management to a Board of Directors across
the common goal of economic development,
including major initiatives in workforce
development, public advocacy, and business
attraction. As an industry leader, she
manages strategic, public-private, highpriority
projects of business recruitment,
selling the strengths of Connecticut’s IFS
industry, and the Insurance Capital of the
U.S., to bring net new jobs to the economy.
Susan Winkler,
VP & Executive Director,
CT Insurance & Financial Services (CT-IFS)
MODERN INSURANCE | 67

INSURTECH
Tokio
Marine
QThe International Insurance Society (IIS) recently
published its 2024 Global Priorities Survey. For
the first time, AI was cited as the top priority in
the Technology and Innovation category, a rise which
has been attributed to a reported lack of preparedness
for AI’s rapid development. Other major concerns relate
to the slow response to embrace technological changes,
as well as a need for extensive reskilling due to an
aging workforce. Our readers would love to hear your
commentary on this!
ATo tackle the second point first, while the
proportion of insurance resources approaching
retirement age may not be the cause behind a need
for reskilling, the situation definitely creates an opportunity
to evolve both skills and process at a scale that would be
more difficult with smaller population changes.
The need for all team members in insurance to be digitally
comfortable and conversant has been growing for years,
and no doubt accelerated through the pandemic. These
days, it’s not just about digital competence but also the
ability to adapt when encountering new technology (of
which Generative AI is a prime example), addressing how
to incorporate it into existing roles and workflows. The
need for adaptability is driving the need to reskill and
upskill.
Interestingly, it also provides a clear opportunity to use
the tech driving part of the disruption to accelerate
knowledge transfer and acquisition in ways not previously
practical. For example, the burgeoning use of Generative
AI to provide co-pilot support for new underwriters based
upon the accumulated digital knowledge of seasoned
underwriters has high potential. The same tech applied
to personalized learning experiences, in addition to
augmenting Intelligent Document Processing in ways
that reduce drudgery or human error-prone steps, offers
further great potential benefits - even while requiring new
skills.
To the initial point regarding companies being unprepared
for AI’s rapid development, I believe we need to give
ourselves some grace. Few, if any, companies in any
industry - even some of the high-tech titans themselves -
were prepared for the unprecedented rise of Generative AI
over the last 18 months.
In general, I think we have actually adapted quite well
so far, particularly given the controls and regulatory
constraints under which we operate. I have never seen the
insurance industry so experimental and willing to question
old and new processes, at least on a proof-of-concept
basis. Indeed, insurance suffers substantially from a fallacy
that adaptation and evolution is solely a function of
implementing the newest, grooviest tech and nothing else.
Meanwhile, the reality is that there is a ton of innovation
and modernization occurring constantly in insurance, but it
is across a heterogenous landscape of systems, platforms
and solutions. Many of these qualify as ‘legacy’, but they
are actually still sustainable and modern enough to play
with new technologies.
From speaking with colleagues at carriers around
the world, we’re seeing companies constantly fixing,
enhancing, evolving, replacing and implementing systems
and solutions at speeds and volumes unheard of just a
few years ago. We’re willing to experiment more with new
tech now, too - but much of this is not readily visible from
the armchair analyst’s couch. We are better positioned
to adapt and incorporate Generative AI than ever before,
both technically (based on the condition of our systems
and architectures) and in terms of our tolerance for taking
on a little calculated risk surrounding something new.
That being said, we always have to be careful and
deliberate - even with our more experimental nature,
willingness to try, and considerable, very successful
efforts to modernize systems and architectures. Our
responsibilities to our policyholders and maintaining our
properly controlled processes and systems is paramount,
so we’re never going to “just slam in some new tech” as
might be common in other, unregulated industries.
QAI and GenAI are the hottest topics in our
industry. While discussing GenAI at the Insurtech
Insights Keynote Panel, ‘GenAI: Revolutionizing
Insurance with Next-Gen Intelligent Core Solutions,’ you
emphasized that while Prompt Engineering gets all the
attention, Data Engineering is critical. Can you expand
more on this?
AThe hubbub has died down slightly, but for a good
while, Prompt Engineering was being positioned as
the new “it” career. Of course, getting the prompts
right and ensuring they are appropriately precise and
contextualized to deliver the specificity and accuracy of
the desired result remains critical. But there is now a much
better understanding around how the probabilistic nature
of GenAI is based on all that data, leading to all those
patterns and cleaned up by all that human training, deeply
dependent on the quality and preparation of the data fed
into the system to begin with.
68 | MODERN INSURANCE

INSURTECH
No degree of elegance in a prompt can overcome
poisoned, biased, incomplete, noisy, dirty, or bad data,
nor can it overcome relatively good data which is poorly
prepared. As with any use of data, the careful curation,
cleansing and preparation are as (or even more) vital in
the generative space. Data veracity and reliability means
we have to know what goes in there, its condition and
right of use, as well as its gaps and biases. The methods
used to clean, prepare, transform and ingest data must
offer rigor, repeatability and efficiency. Regulators and
auditors can’t be expected to offer exceptions because the
tech is new and fun! An answer coming from GenAI needs
to pass the same muster as an answer coming via classic
AI, a simple query, or a look-up off a paper table. This all
starts with data and the engineering around it.
QYou have a very big job as EVP & CIO at Tokio
Marine North America, and Deputy CITO at Tokio
Marine Group, the world’s 14th largest insurer!
What do you like to do in your spare time?
Robert Pick is the EVP & Chief Information Officer
for Tokio Marine North America Services and is also
the Group Deputy CITO for Tokio Marine Holdings
in Japan, consisting of more than 200 companies in
46 countries with $60B annual turn and more than
50,000 employees.
Bob is a regular conference and podcast speaker on
topics ranging from Insurtech and insurance trends,
legacy modernization, and, most recently, Generative
AI. He serves on several advisory boards (NTT Data,
Guidewire, Blumberg Capital, Duck Creek, Korr), is
the Chair of the Board of Trustees for the Philadelphia
Youth Orchestra Music Institute, and a Trustee of
McDaniel College, his undergraduate alma mater. He
also has an MA from Cornell University.
AI read a lot of historical nonfiction, dabble in
woodworking and furniture building; hobbies that
allow me to visually see progress step by step. This
is a luxury not often available in technology land!
Outside of the office, my primary passion is the
Philadelphia Youth Orchestra Music Institute (PYOMI),
for which I proudly chair the Board of Trustees. PYOMI is
85 years old, with 10 program divisions - including 3 full
orchestras representing different capability levels, two
concert bands, a jazz orchestra, a massive string program
for all ages, and one of the few year-round brass choirs
in the US. We support kids in the City of Philadelphia and
surrounding counties from the first time they squeak out
a note on an instrument, all the way through to prepping
for their auditions at Julliard. This feeds the liberal arts part
of my brain that doesn’t get much use during my digital
day, and it follows on the strong commitment Tokio Marine
makes to the communities that we serve throughout the
world.
Robert Pick,
CIO, Tokio Marine
MODERN INSURANCE | 69

INSURTECH
UNQORK
Q
Gary, the International Insurance Society (IIS) recently
published its 2024 Global Priorities Survey. For the first
time, Artificial Intelligence (AI) was cited as the top
priority in the Technology and Innovation category, attributed
to executives reporting that their respective companies are
currently underprepared for AI’s rapid development.
I’d love to hear your take on this, especially as Unqork recently
announced a new release designed to accelerate GenAI and
data-centric development for enterprises.
For an industry that built ‘data’ as an asset, data
quality in insurance has been lagging far behind,
A affecting not just digital transformation but AI usage
too. In 2012, I entered the insurance industry from banking/
capital markets, where the major project had been geared
towards cleaning up SSNs for 90 million customers as part
of a project called ‘Electronic Death Match’. Focus needs
to be placed on using AI solutions such as Intelligent
Document Processing to break unstructured content into
data, and more importantly, break unstructured content
into dynamic data capture in order to eliminate this
permanently. Once you have access to clear, structured
data, AI can be a superpower.
As for leveraging AI in insurance, I could not be more
excited! We are using GenAI to create Unqork applications,
including the use of LLMs to reverse legacy systems. For
the thousands of enterprise applications we have seen
created in Unqork already, we get a front row seat to
witnessing the latest GenAI applications unfold. These
applications can assist underwriters, replace operational
processes and adapt how we do business; the latter of
which is most exciting to us at Unqork.
We also can’t talk about AI without addressing regulation.
Unqork is designed to be the first infrastructure with a
time-machine built in, one that will be able to replay any
past transaction just as the customer saw it in the past.
Imagine being able to swap AI models in or out whilst
being able to demonstrate the reasoning behind these
decisions to the regulators! It’s adaptive and improves on
where humans have left off.
Q
Now that we are past the mid-point of 2024, what are
your thoughts on the current state of the industry? What
is your outlook for the second half of 2024 and first half
of 2025?
A
When the Cloud first came about, there was a real
fear of this ‘new world’. As a result, everyone came
up with reasons why having a data center was a
positive thing, and I saw teams hiring consultants to prove
how much more effective they were in comparison to
Cloud providers. With GenAI, I expect we’ll see a similar
dip through a lull of production use cases in insurance, one
that is likely to bring the technology back down to earth
a bit. Everyone is searching for real production use cases,
and budgets are being set aside to find them. However, you
can see how it could all fall apart very easily due to the
fear of change.
At Unqork, we are at the forefront of GenAI use cases and
we see the value very clearly. It won’t be everything to
everyone, but I see Unqork and 2-3 different models that
you could use to replace a lot of today’s underwriting.
Q
You left the corporate world to start Unqork seven
years ago, whose Enterprise App Cloud empowers
businesses to create, secure and maintain the entire
lifecycle of their applications in the Cloud with zero code.
What advice do you have for other senior leaders who
are trying to break the status quo inside a traditional
corporation, or those who might be trying to venture out on
their own?
Embrace being uncomfortable! It’s the advice
I give to my team, as well as my kids. When
A you are uncomfortable, you learn. Leaving the
corporate world was uncomfortable. Jumping out of
the corporate jet to Zone 5 wasn’t easy either. I slept
on the couch for two years so my kids could sleep in
the bedrooms; it’s hard, but it brings such passion and
excitement that you have no other choice but to learn
and grow. Isn’t that the point of life? The new Adam
Grant book says you should ‘live to impress your kids,
not your parents’. What better role model than to show
your kids that anything is possible? Take a chance. If
you fail, learn from it, move on and try again. It’s the
same message we teach our kids when they’re learning
to ride a bike. Have fun!
Gary Hoberman is an entrepreneur and technology
Chief Executive who has been innovating and bringing
transformative solutions to market for more than 30
years. In 2017, Gary founded Unqork to break through
the biggest barrier to growth that he saw whilst
serving in technology leadership roles at Fortune 500
organizations: code.
Unqork invented the first completely visual application
cloud, the missing layer in the software stack. Unqork’s
application cloud is enterprise-grade, codeless, and
helps organizations build complex, custom software
faster, with higher quality and lower costs. Unqork’s
customers are global industry leaders, including
Goldman Sachs, Marsh, Liberty Mutual, Maimonides
Medical Center, New York City and the District of
Columbia.
In 2022, Unqork was
also named Fast
Company's #5 Most
Innovative Enterprise
Company, as well
as Forbes’ Best
Startup Employers in
2021 and 2022 and
Deloitte’s Fast 500 in
both 2022 and 2023.
Gary Hoberman,
CEO, Unqork
70 | MODERN INSURANCE

INSURTECH
EDITORIAL
BOARD
WELCOME to the Insur.Tech.Talk
Editorial Board.
Modern Insurance Magazine’s board of insurtech experts come together once again in this
latest issue, showcasing the very best thought leadership insights from the heart of the
insurtech marketplace.
This issue voices the thoughts of...
Andy Cohen,
President, Snapsheet
Manjit Rana,
EVP Insurance - UK, EMEA,
and APAC, Clearspeed
Rich Tomlinson,
Managing Director,
Percayso Inform
Ron Rock,
Managing Director – Financial
Services, JobsOhio
Denise Garth,
Chief Strategy Officer,
Majesco
Gavin Peters,
Chief Marketing Officer,
Genasys
Tim Hardcastle,
CEO and Co-Founder,
INSTANDA
MODERN INSURANCE | 71

INSURTECH
Implementation is
Not Transformation
Andy Cohen
President, Snapsheet
Implementation is an important step in
transformation, but it should be considered the
starting point of a transformation journey to
deliver differentiation - not the destination.
Despite what industry talking heads want insurance carrier leaders
to believe, in the new technology paradigm, implementation is only
the starting point on the journey to differentiation. Too often, ‘going
live’ is the primary focus of carriers in order to achieve the ‘Mission
Accomplished’ banner. Many do not realize this is merely the first step
on a long and sometimes steep transformation path.
Implementing new software to lift and shift technology from onpremises
to the Cloud, for example, does not transform anything
operationally or deliver improved outcomes for employees,
customers, or trading partners — even though this feels like a
monumental step for carriers.
Differentiation = Transformation
This focus on going live detracts from the real mission that should
drive every insurance organization, which is differentiation.
Differentiation in results, differentiation in operating models,
differentiation in partnerships and vendors, and differentiation in cost
of ownership.
Differentiating outcomes in claims should be a primary focus, but
for whatever reason, claims is the one function where the industry
benchmarks performance around averages such as the total cost of
repair, loss adjustment expense, cycle time (or time to first payment
/ first contact), or the number of files per claim adjuster. In the P&C
industry, playing to this kind of ‘average’ has a tendency to lead to
dismal results, particularly given the ‘average’ carrier has not returned
its cost of capital in most personal and commercial lines over the
last two decades. This consistent underperformance highlights the
inadequacy of accepting mediocrity, especially in a dynamic and
rapidly evolving industry where conventional wisdom has failed to
keep pace with change.
Breaking free from this cycle of average performance requires a
commitment to continuous improvement, investment in technology,
and a shift in culture to one of forward-thinking. By prioritizing
strategic differentiation, carriers can meet current demands and
anticipate future customer needs.
True Transformation Leads to Differentiated Results
Building a differentiated operating model leads to differentiated
results, and this does not happen through implementation alone.
Transformation is about building a living platform that advances
workflows, automations, integrations, available features and results in
perpetuity, rather than just on the go-live date.
An all-in-one claims platform enables carriers to realize this shift,
empowering claims businesses and technology leaders with the tools
to impact real transformation and deliver results that extend well
beyond the first launch date.
To successfully deliver a transformational experience to carriers that
goes deeper than implementation and drives meaningful results, a
partner needs to offer flexibility, configuration and adaptability as
part of a suite of key features.
Examples of benefits seen by carriers when implementing a truly
differentiated software solution include:
• Rapid Deployment. Implement and migrate within weeks,
establishing multiple environments from week zero of project
kickoff.
• Cost Efficiency. Substantially lower implementation costs as
compared to traditional legacy environments.
• User-Driven Configuration. Business users directly set up and
modify base workflows, assignment logic, profiles and authority
levels, promoting autonomy and efficiency.
• Continuous Innovation. New features are introduced bi-weekly, with
feature flags that require no IT support from carriers for updates or
versioning.
• Flexible Integration. Platform is open, allowing for seamless
integration of new products, models, data elements or metrics,
whether developed internally or by third parties.
Sustaining Success Through Continuous Differentiation
Traditional transformation philosophies in claims management
often revolve around significant expense and resource allocation
toward basic functionality, which generally results in minimal value
differentiation and poor resource utilization.
To drive meaningful transformation, it’s critical to concentrate on
areas that genuinely foster innovation. Snapsheet’s platform and
approach provides ‘table stakes’ capabilities on day zero, enabling
carrier IT and claims teams to focus their implementation and
ongoing investments on product-based innovation and
stakeholder-centric solutions; two areas that drive true differentiation.
What operational changes are needed to better support our
product, and how can we create unique, proprietary solutions for our
customers, distribution partners, and internal teams?
This alignment creates a long-term roadmap, optimizing collaboration
between claims and IT. It focuses on developing truly differentiated
capabilities such as predictive models, enhanced front-end
experiences, automation and strategic partner integrations. The
alternative or traditional approach often leads to a backlog of minor
enhancements, such as adding a field at a cost of $500,000 that was
deprioritized after a year-long custom implementation—a method
that is neither efficient nor cost-effective.
A modern claims management platform like Snapsheet can
integrate a new field in seconds, immediately available in workflows,
assignments, communications and reports, all without requiring
any carrier IT resources. This capability offers carriers the agility to
conduct split testing, pilot new ideas, and innovate quickly without
risk or additional costs.
Ultimately, true transformation is rooted in differentiation. By
adopting a modern platform that readily adjusts to real-world
dynamics—such as growth, expansion into new lines of business,
geographic changes, evolving compliance requirements, or new
performance metrics—carriers gain the flexibility to respond
promptly to emerging challenges and opportunities. This approach
redefines transformation, enabling sustained success and continuous
improvement well beyond initial implementation.
MODERN INSURANCE | 73

The Insurtech Landscape:
A Mid-2024 Pulse Check
and Look to the Future
Recently, many insurtech companies have taken the view that investment
money is drying up. According to Boston Consulting Group, there are signs
of this decline, especially in later-stage funding through Series C deals and
beyond.
INSURTECH
Manjit Rana
EVP Insurance - UK, EMEA,
and APAC, Clearspeed
Overall, the pandemic has accelerated digital transformation
in the insurance industry, leading to increased interest and
investment in Insurtech companies. Insurtechs that offer
innovative solutions for remote customer engagement, digital
claims processing and risk assessment have been particularly
attractive to investors.
In my opinion, the investment isn’t drying up. However, investors
are keen to see a tangible return on investment, expecting
insurtechs to generate revenue through differentiated and
compelling value propositions. Leaders are also realising the
value in doubling down on customer-centricity and outcomes.
Here’s a look at what I think we’ll see over the next two to three
years…
Strategic Shifts
Because the industry is evolving so rapidly, many insurtech
companies are now having to rethink how they’ll continue to
meet evolving customer expectations. Organisational shifts
within the insurtech industry are forcing leaders to reimagine
their strategies to slow cash burn and seek out opportunities
through M&As or tap into their partner ecosystems. Insurers
need to innovate, and insurtechs need to enable them to do so,
allowing the industry as a whole to realise the incredible growth
potential.
We’re seeing insurtechs thrive wherever they offer customercentric
solutions that transform insurance distribution. Some
insurers are making tangible team changes, including downsizing
their innovation teams or shifting strategy. With this pivot, some
are focusing on a venture building approach, to create their own
insurtechs or to strategically invest in creating an ecosystem of
relevant insurtechs to best suit their needs. We’ll also see service
providers doing the same.
Ecosystem Growth and Consolidation
In its current state, there are far too many “me too” solutions
– whether that’s a cloud-based, easy-to-configure policy
management platform, an app-based vehicle damage
assessment solution, an AI-based manipulated image detection
tool, or a telematics platform. With these being so segmented
and regionalised, it’s hard to differentiate between them. Like
the rise in SuperApps, you may have noticed that the ‘Uber’
app now offers the option to purchase tickets for a number of
transport options in addition to being able to order a cab or a
food delivery. In Asia, ‘Grab’ is employing a similar consolidation
strategy, where the consumer can manage all transportation and
delivery-related services in a single platform.
It’s also quite likely that we’ll start to see the insurance
investment community funding M&A transactions to bring
similar and complementary insurtechs together into integrated
ecosystems. Some insurers are already working on developing
their own claims ecosystems with a plug-and-play approach,
where they look at insurtech as a component which can be
easily swapped out if a better version comes along. The ability
to quickly incorporate these new ‘components’ will become
increasingly important, especially as businesses continue to adapt
and evolve their digital transformation strategies.
The question for insurers is going to be whether they own their
own claims ecosystem, or whether they subscribe to a third-party
service and focus their attention towards differentiating on other
aspects of the value chain.
This consolidation trend is likely to result in a number of smaller
insurtechs being absorbed by bigger plays, negating the need for
them to have to fund their own growth strategies. This may suit
some of the more tech-originated founder teams who generally
struggle disproportionally on the market penetration and growth
aspects of their business, which is often key to raising funds in a
more mature, highly competitive environment.
It’s one of the reasons that the investment landscape for
insurtechs has become more selective and cautious. Investors are
focusing on companies with strong business models, proven track
records, and the ability to adapt to changing market conditions.
As a result, early-stage startups are facing more challenges in
securing funding compared to more established players.
Regional Focus
Historically, the real focus for insurtech innovation has been
centred in Europe and the US, but we are now seeing a greater
focus on the Asian market. Asia is now the strongest region for
insurtech investments, experiencing substantial growth driven
by a growing middle class that is very comfortable with digitised
processes and increased awareness of protection products from
their exposure to Western markets.
Countries such as China, Singapore and India are seeing
significant investments in innovative insurtech solutions. The
regulatory environment in these countries has been particularly
supportive, fostering an ecosystem conducive to technological
innovation in insurance.
As we examine the changing insurtech landscape, it reflects a
change in investment too. Funding hasn’t dried up, per se, but
we’re now seeing a more mature market where capital is invested
differently, with an emphasis on broader value propositions that
often include M&A or ecosystem plays vs. seed capital.
Learn more about Clearspeed at www.clearspeed.com
MODERN INSURANCE | 75

Capacity, Funding,
Regulation
If I had to pin down three key themes that have
come up consistently in conversations with our
clients and partners since January, these would
be capacity, funding and regulation.
And while ‘change begins now’ may be the mantra of our
new Government here in the UK, what that means for the
insurance industry is yet to be seen. I certainly don’t see
these three themes changing over the remainder of this year
and into the next.
Capacity
Despite the positive conversations we had at recent MGAA
and BIBA events, many raised the capacity crunch as insurers
and reinsurers alike restrict or withdraw from participation in
certain areas of the market.
Earlier this year, three motor-focused MGAs informed brokers
that they would not be able to offer quotations or renew
policies from April. Others admitted having to prioritise
certain business lines over others, while some moved away
from certain sectors altogether.
It’s undoubtedly a tough situation, with the knock-on effect
being felt by brokers who can find themselves unable to
write business themselves, literally overnight.
However, despite several areas of the market hardening,
capacity has not dried up quite as much as anticipated.
The backing is there for those who focus on getting the
fundamentals right, and tapping into the wealth of data
available to deliver positive outcomes will be essential over
the coming months.
The right intelligence at point of quote, for example, can
recognise quote manipulation or other fraudulent behaviour.
It can identify the propensity of a potential customer to
cancel a policy, and it can pinpoint the accurate value of a
vehicle. All this can support pricing strategies, secure good
business and lower cancellation rates – all of which contribute
to delivering on KPIs set by capacity providers. However,
those who fail to utilise data to benefit their business may
well find themselves excluded from next year’s renewal
discussions!
Funding
When we launched Percayso to the UK insurance market
in 2020, there was significant interest around investing
in exciting new businesses across the insurance sector –
particularly tech-enabled propositions. Signs of change
emerged towards the end of 2022, and in 2023 it became
clear that would-be investors were demanding much more
reassurance, traction and proof points.
This environment prevails, but as the economy shows signs
of improving, I believe that there will be increasing appetite
amongst the investment community. However, investors will
still require evidence before they sign the cheque, and they’re
wise to hype. Businesses looking to secure new funds will
have to demonstrate that their product or service is going to
fill a gap, deliver something that the market really needs, and
offers a true point of differentiation.
Regulation
If anyone thinks that the new Government will see a pause on
new regulation for our industry – at least for the time being
– then they’re sorely mistaken. There’s only one direction of
travel, and that’s onwards and upwards.
Consumer Duty requirements have proven to be a hard
learning curve for insurance providers, although ultimately, it
will deliver better outcomes for our customers.
There will be an increasing need for transparency and greater
evidence required in order to demonstrate fair treatment of
customers at all stages of a policy lifecycle – whether that’s
being able to prove the price quoted is appropriate or the
settlement is a valid offer.
The use of quality data is going to be vital for any insurance
provider. Consider the actions of the FCA at the end of 2022
when it warned insurance firms not to undervalue cars and
other insured items when settling insurance claims. Online
data-rich tools (like our Companion software) have been
snapped up in light of this, as they provide insurers with a
live, retail-backed methodology to support valuations. It’s so
accurate, transparent and evidence-based that it’s used by
the Financial Ombudsman to settle disputes.
Time and time again, the insurance industry has shown
its resilience to changing market conditions. As we move
towards the end of 2024 and look ahead to 2025, the fact
that it now has more data
than ever before (and more
ways of using this intelligence
to deliver better outcomes)
means, in my view, that the
future remains bright.
Rich Tomlinson
Managing Director, Percayso Inform
76 | MODERN INSURANCE

INSURTECH
Today’s Insurtech Industry: A New Digital
Revolution & Where to Turn for Help
Ohio’s business environment offers clarity in the dynamic world of insurtech and fintech.
In 2024, the insurtech industry is evolving more rapidly than ever.
It’s not hyperbole to say that we have seen the most significant
change since the advent of the internet, and fintech and
insurtech companies must take heed.
The industry’s current state is undoubtedly driven by three
significant trends: data analytics, Artificial Intelligence (AI), and
embedded finance. These elements represent the forefront of
transformation within the industry, shaping how companies
operate and engage with customers.
Data Analytics: The role of data analytics in the insurance
industry cannot be overstated. It is transforming how companies
understand their customers and manage their operations.
Through advanced data analysis, insurers can predict customer
behaviors, detect fraud, assess risk more precisely, and
personalize offerings. Data has become the bedrock of strategic
decision-making and customer engagement, allowing companies
to adapt to a more customer-centric and efficient model.
Artificial Intelligence (AI): Artificial Intelligence is pushing
the boundaries of what’s possible in the insurance sector. It
drives innovation across customer service, claims processing,
underwriting, and fraud detection. The speed at which AI is
evolving means that companies leveraging this technology are
positioned for significant competitive advantages. AI allows for
more automated and streamlined processes, making insurance
operations faster and more accurate while improving customer
experiences.
Embedded Finance: Embedded finance, particularly insurance
integration into adjacent products and services, is becoming a
significant trend. It offers seamless experiences for customers
by embedding insurance within other transactions, such as
purchasing products or booking services. This enhances
customer convenience and opens new revenue streams for
companies that successfully integrate these services into their
offerings.
It seems that these trends are by far the most common threads
weaving through our conversations. They were at the forefront
of discussions during recent events like Money 2020 and Scout
InsurTech, and the industry is clearly highlighting the innovative
solutions that companies are adopting to navigate a competitive
market. The ability to harness data analytics, AI, and embedded
finance is critical for insurance companies looking to thrive in this
new landscape.
Where to Turn: Companies Can Thrive in Ohio
Ohio, perhaps more so than anywhere else, is where companies
can succeed in this new industry age. Leaders can find an
environment of innovation, collaboration, and new ideas to help
them thrive.
With its strong financial services infrastructure, Ohio is wellpositioned
to be a leader in these industry shifts. Ohio showcases
its ability to foster connections and drive growth within the
financial services ecosystem. By focusing on innovation and
staying ahead of these trends, JobsOhio plays a pivotal role
in the evolving insurance and financial services industry by
extension.
One of my job’s most enjoyable yet challenging aspects is staying
current with new trends, technologies, and innovations. I am
humbled by industry innovators who have identified a problem,
constructed a solution, and are on the path to growth and
profitability. Competing with similar startups or scale-ups for
market share makes their position even more challenging. From
improving user experience and regulatory compliance to fighting
fraud, hundreds of leaders are fine-tuning how the industry
operates.
JobsOhio’s Role in the Financial Services Ecosystem
While I am not an expert in building these solutions, JobsOhio
excels at making connections for companies seeking partners or
services to support their growth. Ohio boasts the fourth-largest
financial services economy in the United States and the seventhlargest
financial services workforce, an impressive feat given our
population size compared to the top states like New York and
California.
The Power of Marketing and Relationship Building
Even the best product or service will only make an impact if
people know about it. There are countless marketing channels to
consider—whether through relationships, advocacy, sponsorships,
digital platforms, social media, billboards, blogs, or beyond. It’s
essential for JobsOhio to stay visible and at the top of companies’
minds when they’re ready to make their next move.
In this brave new world of AI, data analytics and embedded
finance, it’s more important than ever for JobsOhio to invest
in supporting those companies so they are prepared to take
advantage of every opportunity. In the financial services industry,
I often emphasize that companies must meet customers where
they are, on their terms. This idea rings equally true in economic
development. If no one knows we’re here, do we really exist?
The answer is yes, we do—and our recent successes prove it. Just
look at Worldpay choosing Cincinnati for its headquarters, or
Wells Fargo recognizing Ohio’s tech talent and expanding its tech
center here. These are just a few examples of the many triumphs
we’ve had.
The innovative ideas and emerging trends in today’s industry
underscore the critical need to stay connected and informed. By
continuing to build strong relationships and promote Ohio’s many
strengths, we are actively paving the way for sustained economic
growth and success in the financial services sector.
For more information on JobsOhio and our state’s thriving
financial services industry, contact me via email at
rock@jobsohio.com.
Ron Rock
Managing Director -
Financial Services, JobsOhio
MODERN INSURANCE | 77

INSURTECH
The State of Insurance:
Innovate to Elevate, Optimize,
Transform and Lead
The insurance industry is challenged to truly
innovate, transform and optimize. The pressures
and challenges of macroeconomic factors,
operating performance, increased risks and
technology advancements are forcing insurers to
recognize the compelling need to improve, both
operationally and innovatively. Insurers need
to create both immediate business results and
long-term value for the customer.
Insurers realize current operational business models are
falling out of sync, and the technologies that provided their
foundation must be re-tuned or replaced. A key challenge is
dealing with significant legacy debt in terms of old business
operating models and technology foundations that hinder
the ability to execute profitable growth strategies. Without
addressing operating models and technology, insurers cannot
improve operationally and decrease costs, rapidly respond
to market opportunities, or innovate with new products and
services.
The lack of progress has financial and long-term business
implications.
State of Innovation
In 2019, AM Best published the new assessment of innovation
methodology and criteria for insurers. The document stated,
“Given the accelerating pace of innovation and magnitude of
change, insurance companies that fail to innovate may find
it difficult to sustain long-term success/profitability and may
ultimately be subject to anti-selection and loss of relevance.”
The Way Forward
The way forward must be through innovation, which elevates
the business by transforming and optimizing for an evolving
industry. Greater focus on strategic activities that establish
and strengthen a new business model and technology
foundation is crucial to drive stronger growth. It requires
leadership and fortitude to challenge the old ways of doing
business.
The business value is powerful:
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cloud platforms to power growth and innovation, leading to
an improved AM Best Innovation Score.
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Bend Learning Curve. Leverage embedded GenAI for
guidance to perform tasks and functions for employee
efficiency, quality and consistency.
Productivity. Use GenAI to perform tasks 10-15x faster with
less effort to improve expense ratios, decrease per unit costs,
and enable operational optimization, improved product
pricing, and competitive positioning.
Upgradeability. Decrease time and cost with automated
upgrades, keeping you at the forefront of improved
capabilities and innovation.
AM Best is annually assessing insurers into five categories
– Leader, Prominent, Significant, Moderate, and Minimal. In
late 2023, their report found reinsurers represent the largest
share of innovation Leaders (9%). In contrast, 76% of P&C
and 73% of L&AH are in the bottom two categories – not
good for the industry!
In May 2024, a new report reviewed P&C insurer financials
relative to their innovation score. The correlations are
stunning and predictive, proving the value of innovation.
The report noted strong financial value for those with
high innovation scores, including significantly higher NPW
growth, lower expense ratios, and lower combined ratios.
Furthermore, those considered non-innovators were
overrepresented with downgrades.
Intelligent Operations.
Access all your data
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Predict your own future!
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technology.
Denise Garth,
Chief Strategy Officer, Majesco
MODERN INSURANCE | 79

INSURTECH
Feel the Need
for Speed
It’s time to dismiss the argument that ‘insurance is just slow’…
Gavin Peters,
Chief Marketing Officer, Genasys
As we pass 2024’s halfway milestone, it’s a good time for a
quick temperature check. Of course, we’re still assessing the
impact of some of the industry’s key predicted trends, such
as really valuable examples of Generative AI, new levels of
personalisation and automation. But what if we reframe that?
We’ve had more than half a year in a multi-trillion-pound
industry, without making any genuinely noticeable changes
to the customer offering. OK, maybe that’s too short a
timeframe and I’m being unfair. But look back a year, or two,
three… even five years, and look at the trends predictions.
How many have genuinely and noticeably had an impact on
what we see in the majority of insurance use cases today?
The insurance industry has always been known to be slow
moving, and for many fair reasons we all know about –
compliance, product life-cycles and the natural risk-aversion
that comes with providing the product itself. On top of
that, many businesses have been around for decades (and
often over a century), with the average age of the Executive
team nearing retirement age. It’s not a recipe that screams
dynamism.
A cautious and considered approach has well served
an industry that’s proven to be exceptionally robust to
disruption from outside. But as the pace of the world around
us undeniably speeds up, there’s a very real danger to
insurance businesses that this will finally change. This year,
we have already seen insurers being increasingly caught
off-guard with evolving risks, from climate change to cyber
threats. Customer service, heavily reliant on speed, is directly
in the spotlight; according to Which?, travel insurance
complaints hit an all-time high in 2023-24.
what would be relatively quick decisions in other industries.
Yes, re-platforming a whole business (which may include
huge amounts of data migration) is clearly not a decision
to be taken lightly. But in my experience, the fact that some
tasks will naturally take time often dictates the pace for
everything else. Accepting that ‘things just take a long time in
insurance’ can create a culture where arranging exploratory
meetings to learn about new technologies is put back to
the next quarter. Even relatively minor improvements are
given six-month timeframes to be decided upon, let alone
implemented.
I strongly believe that accepting a ‘slow’ culture will prove
to be an existential threat for insurance businesses in the
coming years. The next generation of talent, many with
deep technological expertise, will look elsewhere for an
environment where they can add real value at a pace they
expect. Moreover, customers will find much better solutions
from companies that can react to their changing needs as
they change, not two years too late.
The good news, in my view, is that this is a (relatively) easy fix
if the problem is adequately identified. Good leadership can
set clear goals to increase velocity. It doesn’t mean working
twice as hard, it means working twice as smart. Break bigger
tasks down into bitesize chunks, empower teams to make
decisions more quickly, reward dynamic behaviours, and
crucially, make it clear to everyone that speed really matters.
In 2024, being dynamic shouldn’t be an outlier. In the next
few years it certainly won’t be. Speed of change must start
from within.
The majority of insurance businesses now need to find
an extra gear, fast. However, this doesn’t mean throwing
the baby out with the bathwater and suddenly moving to
a ‘move fast and break things’ model. We don’t need to
swap the office chairs for beanbags yet! But there is now a
desperate need for many organisations to make some key
changes to increase their agility, and it starts with culture.
As someone who has joined the industry from the outside,
it’s often come as a surprise to see the timeframes given for
MODERN INSURANCE | 81

INSURTECH
The Future of
Insurance
Investing in solutions aligned to unit economics is crucial. Whether it’s
helping insurers streamline product development and policy administration,
enabling underwriters to efficiently prioritise their workload, or assisting
adjusters in triaging claims more effectively, technology is reshaping the
insurance landscape.
The ultimate benefit? Insurers can focus more on the consumer and realise
greater operational efficiencies. However, looking to 2025, many of the
same challenges and opportunities remain.
Tim Hardcastle,
CEO and Co-Founder, INSTANDA
Meeting the Demand for Personalisation
The convergence of insurance and technology presents a
once-in-a-generation opportunity to transform the industry
and outcomes for customers. Personalised insurance has vast
potential, with the market demanding solutions as unique as
the individuals seeking them.
We know, from an INSTANDA-commissioned survey, that
besides lower insurance costs, customers yearn for greater
transparency, trust, a more personalised experience, and faster
claims payments. Meeting these evolving expectations can
provide significant competitive advantages in core insurance,
where most of the costs in the value chain reside, and claims
are handled.
This is something that often gets forgotten, but as the
global insurers using INSTANDA would say, there is immense
potential to enhance the customer journey, streamline
operations, and reduce inefficiencies.
Equally, there are significant opportunities for ‘growth insurers’
to introduce niche insurance products that cover emerging
technologies and lifestyle-specific risks unmet by core
products.
This issue is especially pronounced in the UK’s health
insurance sector, where a large percentage of people lack
necessary health or life insurance. This unmet need highlights
a tremendous opportunity for innovative insurers. Imagine
insurance plans tailored to individual health profiles, lifestyle
choices, and even genetic predispositions. Such personalised
products address existing gaps and transform the insurercustomer
relationship from ‘reaction’ and ‘recovery’ to
‘prediction’ and ‘prevention.’
Time to Rethink Operating Models
To make a truly positive transformational impact though,
operating models need rethinking. Recently, I joined a panel
of global insurers at an Insurtech Insights conference to
discuss how to futureproof businesses and digitise capabilities.
Opening the panel discussion, PwC’s Glynn Austen-Brown,
shared “It’s no longer about being the biggest but the fastest
fish in the ocean,” and I couldn’t agree more.
However, operating models were not designed with the
current race dynamics in mind. Outdated systems and
processes present a significant challenge; they are simply not
engineered for growth or personalised product offerings, and
are a huge barrier to innovation. I’ll touch upon the solution
later, but right now, the industry needs to work out how it can
move away from archaic models of engagement and further
towards frictionless, personalised interactions.
Realising Real-Scale Success
New disruptors have invested heavily in innovative operating
models, achieving moderate success. However, success is
limited, underscoring the need for a strategic investment
approach that works at scale.
Technology could be seen as the easy part of the puzzle. The
real challenge lies around investing in solutions that enhance
customer service and solve operational issues in a costefficient
way. Ideally, technology should cost less than 1% of
Gross Written Premium (GWP), but this is often out of reach
when insurers are reliant on outdated systems that are not
designed to meet evolving customer needs.
Investing in agile solutions aligned with an insurer’s unit
economics is crucial. This involves viewing the business
through the customer lens to meet them with products and
experiences they desire, and investing in the technology that
enables this.
INSTANDA as the Solution
INSTANDA gives insurers the freedom to innovate at pace. By
taking complex insurance processes and allowing the business
to reimagine them through a simple no-code user interface
(UI), INSTANDA streamlines policy administration processes
and enhances operational efficiency.
Rather than product creation and modification getting held
up by development, business users are empowered to create,
modify, test and launch products at will using a powerful set
of insurance-specific calculations, processing and workflow
capabilities. The result is unparalleled innovation and speed to
market.
By integrating with existing systems, AI solutions, and
third-party data, INSTANDA delivers real-time, actionable
insights. These insights empower insurers to fine-tune pricing,
coverage and policy details, ensuring they can meet evolving
customer needs and maintain a competitive edge.
Quite simply, INSTANDA is the future of insurance. I’m proud
to say that no other platform allows insurers and MGAs
across all lines of insurance to fully embrace the diversity
of insurance, respond to market changes, meet evolving
consumer needs, and drive efficiencies like we do.
To find out more, simply visit instanda.com
82 | MODERN INSURANCE

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