Modern Insurance Magazine Issue 68

ISSUE
68
ISSN 2515-3803
“The 150,000
“
Joanna Knight OBE
2024 Contributors
Media Partners
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WELCOME
Hello readers!
In Issue 68 of Modern Insurance Magazine, we’re evaluating the
importance of critical non-essentials. Profit and other financial
metrics aside, how important really are these investments?
What constitutes a critical non-essential element of business,
and to what extent can this approach be neglected or
overlooked within the insurance industry?
Amelia Barlow, Editor
To introduce the importance of critical non-essentials from the perspective of
company culture, Joanna Knight OBE (Group CEO at Moneypenny) eloquently
shares her experience from p.8. Furthermore, be sure to continue reading through
to p.12 to hear from our lead interviewee Belinda Parmar OBE, Founder and CEO of
The Empathy Business. Both women continue to revolutionise the face of leadership
in amazing ways, and I’m incredibly proud to have their insights represented in this
most recent issue.
This edition also features our annual Motor forum (p.14-19), showcasing some of the
motor industry’s leading lights as they discuss the present-day state of affairs in
each of their own specialist areas. As always, our valued collective of Editorial Board
members join us from p.21, followed by our group of esteemed industry associations
from p.34 and our expanding panel of insurance fraud experts from p.41.
I’m always delighted to continue strengthening our partnership with Insurtech
Insights’ President, Megan Kuczynski, as she curates another spectacular panel of
insurance technology experts for Insur.Tech.Talk. Always positioned in the second
half of the magazine, you can read from p.65 onwards to discover more.
And just like that, Issue 68 marks the final edition of Modern Insurance Magazine for
2024. As the year winds down and the colder months embrace us here in the UK,
I warmly wish you and your loved ones all the best for the Festive season and the
New Year ahead, wherever in the world you may be.
Rachael Pearson, Project Manager
Rachael Pearson
Project Manager
Modern Insurance Magazine
rachael.pearson@charltongrant.co.uk
Until next time,
Amelia
Amelia Day Barlow,
Editor,
Modern Insurance Magazine.
amelia@charltongrant.co.uk
Market-Leading Outsourced Claims Services
www.carpentersgroup.co.uk
ISSUE 68
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
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Contents
8
41
12
63
14
4 | MODERN INSURANCE
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8
12
14
21
34
41
51
53
55
57
58
Insight
The 150,000 Little Things That
Can Transform Your Business by
Joanna Knight OBE, Group CEO,
Moneypenny
Interviews
Heart and Head
with Belinda Parmar OBE, Founder
& CEO, The Empathy Business
In Discussion
Dispatches from the Modern Motor
Market
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
Europcar: Changing EV Attitudes:
Can the ABI GTA make a difference?
e2e: Living the Green
Just a Thought with Eddie
Longworth: It’s Tough at the Top
I Love Claims / ARC 360: Standing
Out from the Crowd
FMG: Embracing Tech: How
Technology is Shaping the Insurance
User Experience
61
10 Minutes with...
10 Minutes with… John Gibson, Client
Relationship Director (UK), Kennedys
Insur.Tech.Talk
Interviews
65 Welcome
Megan Kuczynski, President,
Insurtech Insights
66 Betterfly
Eduardo della Maggiora, CEO,
Betterfly
68 LIMRA
Kartik Sakthivel, PhD, CTO & Global
CIO, LIMRA
70
73
Melissa Leitner & Lorcán Hall
Melissa Leitner, Head of Life & Health
Sustainability, Swiss Re
Lorcán Hall, Senior Advisor, SDG
Academy, United Nations Sustainable
Development Solutions Network
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
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EUROPCAR
NEW BRAND BLOCK
Color gradient background
File: 20151645E
Date: 7/10/2015
AC/DC validation :
Client validation :
Editorial Board
21
23
25
27
29
ENGAGEMENT AND
EMPATHY IN SERIOUS AND
CATASTROPHIC INJURY
CLAIMS
Carol Hopwood, Head of Serious and
Catastrophic Injury, Carpenters Group
SATISFIED CUSTOMERS
ARE BRAND
AMBASSADORS
Will Prest, Product Manager, ParaCode
BUILDING AN
ENVIRONMENT THAT
WORKS
Jason Brice, Managing Director, CMG
A UNIQUE COMPANY
CULTURE
Helen Driscoll, HR Director,
The Vella Group
CRITICAL
NON-ESSENTIALS:
THE BACKBONE OF
REHABILITATION SUCCESS
Deborah Edwards, Chief Executive
Officer, RTW Plus
GOING ABOVE AND
BEYOND
Simon Hunt, Commercial & Services
Director, National Windscreens
KINETIC 2025: MOVING
FORWARD TOGETHER
Chris McKie, Chief Executive Officer,
Vizion Network
31
33
REVVING UP TALENT:
THE POWER OF
APPRENTICESHIPS IN
VEHICLE REPAIR
Danielle Chruszcz, People Director,
Activate Group
THE BENEFITS OF
MODERNISATION
Andrew Chandler, Managing
Director, FMG
LEVELLING THE PLAYING
FIELD FOR BROKERS IN
PROPERTY INSURANCE
Caroline Elliott-Grey, senior product
manager, UK and Ireland, LexisNexis
Risk Solutions, Insurance
DIGILOG LAND IN THE US:
A Q&A WITH DIGILOG &
DIGITALT3
Lior Koskas, CEO, Digilog UK
Alfred Gracias, Founder & CEO,
DigitalT3
The Fraud Board
41
43
WELCOME
Mark Allen, Assistant Director, Head of
Fraud and Financial Crime, Association
of British Insurers (ABI)
FRISS X VERISK
Synergies for Success: The Power of
Counter-Fraud Collaboration
Kaye Sydenham, Product Owner,
Anti-Fraud, Verisk
Martyn Griffiths, Sales Manager
UKISA, FRISS
6 | MODERN INSURANCE
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NETWATCH GLOBAL
Levelling Up: A Vision for People and
Performance
Helen Wakeman, HR Business Partner,
NetWatch Global
45
CHARLES TAYLOR
It Ain’t What You Do, It’s The Way That
You Do It…
Bobby Gracey, Global Head of
Counter Fraud, Charles Taylor
WHITELK
Subrogating Fraud, and the Perils of
Profiting
Matt Gilham, Director, Whitelk
47 IASIU
Spotlight on International Fraud
Awareness Week: November 17-23,
2024
Aimee Stidham, Vice President, IASIU,
and Manager – Special Investigations,
WCF Insurance
49
SYNECTICS
Modernising Fraud Prevention:
Lessons from a Leading UK Insurer
Richard Daley, Business Development
Manager, Synectics
LV= GENERAL INSURANCE
The Data Key
Ben Fletcher, Head of Financial Crime,
LV= General Insurance
RGI SOLUTIONS
The Value in Supporting Vulnerable
Customers
Anthony Byrne, Operations Director,
RGI Solutions
35 MASS
Restoring the Balance for Claimants
Sue Brown, Chair, Motor Accident
Solicitors Society (MASS)
APIL
Rusty’s Story
Kim Harrison, President, Association of
Personal Injury Lawyers (APIL)
37 CII
Are there any ‘non-essentials’ in
insurance anymore?
Dr Matthew Connell, Director, Policy
and Public Affairs, Chartered Insurance
Institute (CII)
MGAA
A Healthy, Content Workforce Equals
Productivity
Mike Keating, CEO, Managing General
Agents’ Association (MGAA)
39 BIBA
Principal Firms have been Reviewed –
how did they fare?
Julie Comer, Head of Compliance,
British Insurance Brokers’ Association
(BIBA)
FOIL
The Rise of D&O Litigation: How
Diversity Commitments Are Shaping
Future Risks in the UK
Louise Cheney Lowe, Member of
London Forum of Insurance Lawyers
(FOIL) and Associate at Kennedys
MODERN INSURANCE | 7
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The 150,000
Little Things
That Can Transform
Your Business
Culture is an elusive entity, deeply rooted in a system of beliefs,
values and norms. Joanna Knight OBE, Group CEO of Moneypenny,
suggests that a strong, properly managed company culture is a critical
non-essential in business, and the key to creating a stable, sustainable
organisation that will stand the test of time.
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INSIGHT
In today’s business landscape, there’s often a
focus on measurable essentials like profit margins,
productivity, and operational efficiency. However,
an often-overlooked yet crucial factor in longterm
success is the role of critical non-essentials—
particularly culture.
While company culture may seem somewhat
intangible, it has a profound impact on employee
engagement, customer satisfaction, and overall
company reputation. Investing in a positive and
cohesive culture can enhance innovation, inspire
loyalty, and create a competitive edge that goes far
beyond products and services.
This article explores why prioritising culture isn’t just
a ‘nice-to-have’ for businesses, but a fundamental
driver of sustainable success. From fostering
employee wellbeing to attracting top talent and
building customer trust, embracing culture is a
strategic asset that can transform a business from
the inside out.
Defining company culture
Company culture is defined as the shared values,
attributes and characteristics of an organisation.
That’s simple enough. However, go beyond the
basic definition and the waters begin to muddy as
you look to define the attitudes and behaviours of
a company and its people, their values and the way
they interact.
Culture, therefore, becomes the 150,000 little things,
cemented in unspoken mindsets and social patterns.
It can be so complex to comprehend and quantify
that sometimes, it can be relegated to a secondary
business concern. Taking the hard road in business,
as well as life, can be uncomfortable and timeconsuming.
In spite of this, perseverance will often
open doors to extraordinary things. Get it right and
the result is a strong, resilient culture; one where
your people are in tune with the same values and
goals.
Why is a strong company culture so important?
A strong company culture impacts the overall
health of your organisation, your people and your
customers. It increases employee engagement,
decreases employee turnover and can improve
recruitment, all factors which contribute to the
happiness and satisfaction of your team. They
become more motivated and hardworking, improving
their organisational productivity and performance.
It’s good business, and good for business on all
levels.
Just as Rome wasn’t built in a day, a strong culture
cannot be created with the simple wave of a hand.
It is a huge task, especially if your organisation has
lost its way over the years and you need to re-align.
However, dedicating time and effort to prioritise a
company culture which is true and real will drive your
organisation forwards for all the right reasons.
Attitude versus aptitude
People are an organisation’s primary asset and the
biggest influencers on your company culture. The right
(or wrong) person can have a tremendous impact on
your company, so it’s really important to hire right in
the first place.
Instead of focusing purely on aptitude, switch your
attention to attitude; one that falls in line with your
organisation’s values and beliefs. At Moneypenny, we
look for a can-do attitude that will carry us into the
future, but you must prioritise the attributes which are
most important to you and your business. If you don’t
shape your company culture, it will inevitably shape
itself – and you might not like what you end up with.
I was one of Moneypenny’s very first employees and
now I am Group CEO, something that was possible
because the founders gave me the respect and
flexibility to grow to where I am today. At interview
stage, their people-centred business model blew my
mind, and it wasn’t just a sales pitch! It was true, and it
made me want to be a part of the action.
Nurturing a strong company culture
1. Communicate
There’s a lot to be said for true listening and learning.
Instead of simply hearing what a team member is
saying, take notice and act on it. Give people a voice
and let them share their different perspectives;
whether they’re voting for the firm’s charity of choice,
suggesting ways to prioritise ESG incentives, or
deciding what facilities to include at your company
headquarters. As a leader, it’s important to share how
you are feeling and how things are going, clearly and
without fear. You should be able to take your people on
the journey with you!
Finally, being an effective leader doesn’t mean that
you have to have all the answers. However, being clear
about what you know, what you are planning and
what those plans mean for people—all in a way that
your audience will understand—means that you are
communicating with full transparency.
2. Empower your people to take risks and a step back
Your brilliant business is only brilliant because of your
brilliant people. That’s my mantra, and it’s one of the
earliest leadership lessons I ever learned. Choose your
people based on shared values and purpose; show
them that you can do business better by doing the
right thing, and by being mindful of your impact on the
community, environment and people. Simply make that
the way things are done, and leave that legacy for the
next generation.
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INVESTIGATION WITH
REAL INSIGHT
It’s not by chance that RGI Solutions
has grown to become one of the UK’s
leading independent insurance
investigation specialists. When we set
out in business back in 1990, our
mantra was simple: ‘to provide
integrity, reliability, insight, value
and quality in everything we do’.
TAILORED SOLUTIONS
AT YOUR SERVICE
About Us
Today, with leading insurance
companies, solicitors, self-insurers
and claims handling companies
among our clients, our founding
principles remain just as important to
us as they did all those years ago.
Proud of our heritage, clear fixedprice
services and outstanding fraud
savings rate, we deliver exceptional
value.
Believing that being ‘good’ really
isn’t good enough, we view the
service level agreement we establish
with each client as the absolute
minimum standard we must achieve.
0161 486 0100
Our portfolio of services is regularly
reviewed to ensure we provide
comprehensive, up-to-date and
effective investigation solutions. Most
importantly, each service is tailored to
clients’ specific needs and fully
compliant with the jurisdiction in
which we operate.
THE INTELLIGENT CHOICE
With highly experienced, qualified and
licensed investigators, sophisticated
information databases and a
management team made up of leading
counter-fraud specialists, we offer
true insight, capability and expertise.
Understanding that speed is always of
the essence, we offer a rapid
response.
The Intelligent Choice
Integrity, reliability, insight, value and quality
Address : The Chambers, 44 Station Road,
Cheadle Hulme, SK8 7AB
Mailbox : sales@rgisolutions.co.uk
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INSIGHT
Furthermore, if you empower teams to make
mistakes, be brave and cast aside what holds them
back, you are creating the perfect environment for
powerful ideas and positive change. People naturally
want to feel empowered — you just have to give
them the platform. It’s all about responsibility, trust,
listening, purpose and self-improvement, and it has
the power to create a far more connected culture.
3. Create a safe environment
Being a good leader isn’t just about creating a safe
work environment for your teams. It’s about creating
a safe environment, full stop. Value the individual
holistically as the unique person they are, genuinely
understanding your employees’ perspectives,
challenges and aspirations whilst creating a
supportive environment where individuals feel valued
and heard. This approach enhances team morale,
collaboration and innovation, because employees are
far more likely to contribute ideas and go the extra
mile when they feel emotionally supported.
This level of empathy enables leaders to adapt to
the diverse needs of their workforce — ultimately
strengthening the human connections that drive
engagement and resilience, as well as helping
organisations to thrive even in times of change and
uncertainty.
4. Prioritise mental wellbeing
If you work at Ferrari pace then you must also have
Ferrari brakes. Know when to stop and when to have
some fun! As adults, we spend over half of our lives
at the office, so making work a place where people
want to be is a no-brainer. It doesn’t have to look like
Google HQ, either. Your people will tell you what they
need if you listen to them effectively; from attractive
communal spaces to free hire of paddleboards and
picnic sets. Just don’t forget to include yourself! You
cannot lead (and your teams cannot support you)
without your good mental health.
5. Be optimistic
Effective leaders have a certain and unfaltering
optimism. Thinking outside the box for a unique
solution, or identifying a new business opportunity in
the midst of a crisis, is what makes you an effective
leader. But don’t let this blind you! Yes, your team
and co-leaders need to buy into your beliefs and
intentions for the business. However, this needs to
remain realistic, agile and open — acknowledging
bumps along the way and learning at every step.
Culture as a strategic asset
Company culture might be the sum total of an
organisation’s attitudes, values and characteristics,
but capturing it in a neatly wrapped box is harder
to achieve. It will mean different things to each of
your people. It’s the 150,000 little things that make
company culture unique, from the free breakfast
and handwritten thank you notes through to the
gifted Moneypenny socks and honey made from
our resident bees. There’s no ‘one-size-fits-all’
solution, but a strong, positive culture is essential
for any business that aims to thrive and grow in a
competitive marketplace.
Culture shapes how employees feel about their work,
influencing customer perceptions and defining the
company’s reputation. When an organisation fosters
a cohesive culture centred on shared values, it aligns
your team and builds a workplace where motivated
and engaged people want to stay. For us, our mission
centres around providing gold standard telephone
answering and digital communication services for
thousands of businesses globally. This environment
attracts and retains top talent, leading to increased
productivity and sustained innovation.
Moreover, a strong culture supports adaptability,
enabling a business to respond to challenges and
changes with resilience. By investing in culture,
businesses create a foundation for lasting success,
demonstrating that financial metrics aside, growth
and profitability relies on nurturing a community
where people and purpose come together.
Joanna Knight OBE,
Group CEO, Moneypenny
Joanna Knight OBE is Group
CEO of Moneypenny, a business
which employs over 1,000
people globally and supports
thousands of businesses
through telephone answering
and digital communication
services.
Joanna is well known for
her mentorship, commercial
acumen and hands-on
leadership style. She is also
passionate about developing
people and creating a culture
that breeds success and
innovation.
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INTERVIEWS
Heart
and Head
with
Belinda Parmar OBE
Modern Insurance Magazine recently
sat down with Belinda Parmar OBE,
Founder and CEO of The Empathy
Business, to consider the power of
critical non-essentials in the insurance
industry. How important is something
like empathy in our business, and how
does this directly relate to a firm’s
growth and performance?
Belinda, thanks ever so much for your time today!
QLet’s start by talking about The Empathy Business.
How do you define empathy, and how does one go about
quantifying such an abstract concept?
A
Empathy doesn’t need to be an abstract concept just
because it’s something we can’t input directly onto a
spreadsheet! You can absolutely quantify these more
ethereal things.
The way that I see empathy - and the way that we define it
at The Empathy Business - is the emotional impact that a
company has on its colleagues and customers. Of course this
relates directly to customer service and experience, and we
always want to be looking at how we can harness empathy
to improve that process. For example, we’re working with a
bank at the moment to improve their approach to empathy,
considering how they can nurture a culture of belonging
where people feel visible, able to speak out in meetings and
integrate within the culture of the workplace. Belonging is the
key!
At The Empathy Business, we’ve looked at the most empathic
companies in the world and analysed some of their mutual
qualities. From this research, we’ve identified several factors
that can impact empathy levels in the workplace, and this
is what we incorporate into our audits when we work with
businesses. Things like ‘reassurance,’ for example. If your
boss provides reassurance in your performance review and
tells you that they’ll support you with a promotion, do they
follow through with that promise? If, as a customer, you call
your insurance provider and query the terms of your policy,
will they assist you and provide reassurance in the way that
meets your needs?
Emotion is another factor, particularly in insurance. The
insurance industry is built on trust; it’s a highly emotional
industry, yet a lot of the communication with customers is
dry, patriarchal and transactional. This simply doesn’t fit with
our relationship towards the things in our lives that we want
to protect.
12 | MODERN INSURANCE
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Q
Tell me more about the EMBRACE model. How
do you combine observational, behavioural and
attitudinal data to measure empathy using this
framework?
We first published the EMBRACE framework in the
Harvard Business Review, using a combination of these
Avital measures to audit businesses for empathy and
identify areas of strength and improvement. These measures
consider Empowerment, Meaning, Belonging, Reassurance,
Authenticity, Collaboration and Ethics, adopting a forensic
and surgical approach in our analysis.
Observational metrics might refer to something like the
ratio of senior leaders speaking in meetings against some
of the more junior colleagues within the business. You don’t
want your senior colleagues speaking all the time because
this creates a culture of deference, something which is
counterintuitive to a culture of innovation and empathy.
Attitudinal metrics might relate to how your staff feel about
work on a Sunday night, or how much time colleagues spend
on perpetuating company politics, pursuing their own agenda
instead of collaborating and working together on collective,
mutual goals. Finally, behavioural metrics consider things like
opportunities for promotion; for example, our findings have
indicated that oftentimes, women get higher grades on their
appraisals but are promoted less often. You can always rely
on data to show you a gap, enabling the prompt diagnosis of
issues and the formation of action plans. Ask yourself, what’s
the elephant in the room?
We’ve also seen plenty of success in reviewing company
communications by using this framework. What customer
wants to open a letter from their insurer to a message that
starts with ‘Unfortunately…’? There are positive ways to
deliver bad news, and by following this formula for empathy,
you’ll really start to see growth unfold in an empowering way.
With this in mind, how else have you seen the
science of empathy relate to business growth and
Qproductivity? What results have you seen from this
approach?
Well, we all know that business can be great when
it’s going well. However, significant challenges can be
Arealised in the moments when things go wrong. In this
case, we frequently work with Complaints teams when there’s
often an angry customer and, if the situation is handled
correctly, a perfect opportunity to turn that around. The
financial gains from navigating this situation with empathy
can be outstanding.
Staff sickness is another area where we can easily find
effective scope for growth and increased productivity. We’ve
found that the number of sickness days taken by a particular
team or department has a direct correlation to a high or low
empathy environment, and the business cost of both of these
things can add up to thousands of pounds. Business leaders
have to ask themselves where gaps in empathy are causing
the business to lose money, instead of asking how we can use
empathy to gain money in the commercial world. Some of the
best examples of business growth can be seen when leaders
and decision makers possess this kind of self-awareness and
ability to self-reflect.
Q
How can we harness technology to support empathy
in business, and how might this approach evolve with
the uptake of Artificial Intelligence (AI) and other
algorithmic language models?
First of all, it’s really important to remember that
the future isn’t a competition between humans and
Amachines. AI cannot replace what humans do when it
comes to emotional intelligence and empathy, judgement and
creativity. ChatGPT doesn’t have mirror neurons that light up
whenever you tell a sad story!
That being said, I’m so excited by the combination of Artificial
and Human Intelligence; the meeting of heart and head and the
co-evolution that comes from this in order to create something
bigger than the sum of its parts. Practically, this approach
is being used to great effect in call centres at the moment.
There’s scope to harness AI wonderfully in written follow-up
communications, for instance, saving time without sacrificing
the element of empathy and human emotion.
Many current processes in insurance are designed with the
first call of the day in mind, not the 25th call or the 100th call.
When an advisor’s empathy levels are low later in the day, I’m
keen to know how we can use AI to compensate for this. If we
can pinpoint low empathy to certain moments in the average
work day, why shouldn’t we use this kind of technology to our
advantage?
Using research from behavioural science, for example, we know
that when a Judge skips lunch, they are more likely to give a
harsher sentence. Using the same logic, it makes sense that
your 15th call of the day is unlikely to be as effective as the
first. Human performance can fluctuate and so can the way we
empathise with our customers. This is where technology can be
used to great effect.
Q
Finally, how might business leaders in insurance take
your findings on board to create transformation in their
own firms?
It’s really important to understand how empathic you
are, and how this directly relates to the success of your
Abusiness. If you can define empathy, understand what is
meant by empathy and how it links to performance, that’s also
crucial. It’s not just about how you react to employees asking for
time off; it’s a tool to improve customer service and wellbeing
within your organisation in order to create an environment
where they feel able to maximise their productivity. Empathy
isn’t something soft and fluffy; it’s tangible and scientifically
linked to the performance of your employees.
Why not do a trial? Take a really tricky area of your business,
apply the lens of empathy and consider what added-value
processes can be adopted or amended to make that better for
your staff and customers. As a leader, ask yourself what you
need to do to make sure that you’re actively role-modelling
empathy, and then encourage that approach collectively within
the business so it extends to your customers, too.
To book Belinda for a speech on the importance of empathy in
insurance, or to find out more about how The Empathy Business
can support your workplace, contact Belinda on LinkedIn or visit
the website - https://theempathybusiness.com/
Belinda Parmar OBE,
Founder & CEO, The Empathy Business
INTERVIEWS
MODERN INSURANCE | 13
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DISPATCHES
FROM THE
MODERN MOTOR MARKET
In this issue, we’ve pinned down some of the motor industry’s leading
lights to discuss the present-day state of affairs in their corner of the
sector. How important is transparency, technology and collaboration?
What are some of the biggest hurdles to overcome right now, and what
impact is this having on the wider supply chain?
Anthony Hughes
Chair & CEO,
The Credit Hire Organisation
(CHO)
Nik Ellis
Director,
Laird & Swiftcase
Liam Cowling
Marketing Manager,
Accident Credit Group
(ACG)
Jane Pocock
CEO,
Copart UK & Ireland
Andy Chandler
Managing Director,
FMG
Richard Tutt
Chairman,
Motofix
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What’s the biggest challenge you’re
facing right now in your area of the
motor market?
Liam Cowling is the first to address this, stating that outdated
mindset is the most significant challenge for Accident Credit
Group (ACG) at the moment.
“We’re proud of the funding services we offer to bodyshops,”
Liam states, “however some stakeholders within the industry
think that only struggling businesses call on us, which is
misguided. The benefits for bodyshops to partner with us
for their approved repair invoice funding means that they’re
running better operations, with improved cash flow and
opportunities for growth whilst becoming more resilient in the
face of market fluctuations.”
He continues, “The majority of our customers are successful,
ambitious and forward thinking bodyshops. One positive
story in particular comes to mind, where through the funding
services offered by ACG, we have enabled our customer to
open a second site, increasing their work capacity for the
benefit of the insurance networks they’re part of. Their working
capital is completely funded by themselves.”
“Today’s repairs require more technical expertise,
specialised equipment, and closer collaboration with vehicle
manufacturers,” Richard states. “This dynamic is also putting
pressure on the supply chain. Not being able to access parts
quickly enough inevitably leads to unavoidable delays –
although we do our absolute best to mitigate that.”
The industry’s skills shortage is another significant challenge
for the Motofix team. “It’s a well-known fact that our industry is
facing a talent shortage” Richard says, “but we’re working hard
to navigate a way around that issue by investing much more in
staff training and the development of our own apprentices and
technicians.”
“We’re not about supporting those who are about to go
bust,” he concludes. “We’re here to create better bodyshops,
delivering quality work for insurance companies and repair
networks.”
On the other hand, Richard Tutt of Motofix Group has found
repair turnaround times to be tough going lately, “especially
as cars become more complex with the increase in electric
drivetrains and the greater presence of Advanced Driver
Assistance Systems (ADAS)”.
MODERN INSURANCE | 15
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How have you seen claims volumes
fluctuate in recent months, and what
impact has this had on the wider supply
chain?
“We’ve seen compounding growth of claims volumes year
on year,” says FMG’s Andy Chandler, “along with significant
changes to the many component parts of claims, such as Total
Loss and Salvage. This has been accompanied by the raft of
environmental, process and monetary challenges that these
processes are now subject to amid changing residual car
values.”
Andy continues, “These changes are here to stay, and we’re
looking ahead to ensure stability with a claims ecosystem that
is joined up, efficient and sustainable. We’ve bolstered FMG’s
repair network with over 100 new repairers across the UK to
provide greater capacity and capability, further strengthened
by the opening of four new sites by our sister company (FMG
Repair Services) and an increased range of mobility providers.
As Winter rapidly approaches, we actively prepare for claims
fluctuations by leaning in on our agile Winter Readiness plans,
which includes seasonal changes to our allocation system
within our supply chain and through the cross-skilling and
reallocation of our internal teams to seamlessly meet demand.”
Meanwhile, ACG have seen a boom in claims volumes as more
and more bodyshops turn to them to support their cash flow
efficiencies. “Month on month, we saw repair numbers increase
in tangent with our funding services,” Liam says.
However, he admits that Q2 of 2024 didn’t fall in line with
original projections after seeing positive growth up until late
Spring. “We’ve seen claims numbers drop since then,” Liam
says, “with an upswing in total losses for both our bodyshops
and credit repair customers.”
In spite of this, we’re reassured that it’s not all doom and
gloom. “Despite the market changes, demand for our services
has continued to grow, enabling our funding figures to remain
strong,” Liam adds. “As we move into the cold winter months,
traditionally a busy time for repairs, we have been wondering
whether the traditional seasonality will return following the
last four years of disruption due to COVID. We’re continuing
to monitor this, working closely with our customers to see if
there will be any impact on repair volumes coming through the
networks.”
Meanwhile, Anthony Hughes proposes a potential explanation
for the widespread reduction in claims volumes. “There’s some
evidence to suggest that customers have chosen not to claim
for accidental damage,” he states, “possibly because they
have opted for a higher excess to combat the impact of rising
premiums. The combined effect of the cost-of-living crisis
and soaring premiums means that, according to the Motor
Insurance Bureau (MIB), 300,000 people are driving without
insurance this year.”
Anthony continues, “The latest Compensation Recovery Unit
(CRU) data shows that there were nearly 78,000 third party
motor injury claims registered between April and June 2024 -
8,000 fewer than the equivalent quarter last year, and 13,000
down on the previous quarter. This is a reduction of well over
50% since 2019. Claims frequency fell off a cliff during the
heights of COVID-19, and despite mileage returning to prepandemic
levels, the number of people making a bodily injury
claim is still sitting at historic lows.”
Richard agrees. “Across our nine-strong network of Motofix
centres, we saw a surge in claims when people made a return
to the roads after lockdown,” he says. “However, this has since
been tempered by the advent of higher insurance premiums
and repair costs. As a result, motorists are now more cautious
about making claims for minor damage.”
So, what impact has market fluctuation had on the repair
networks? “This landscape has made it more challenging for us
to maintain a steady rate of productivity alongside managing
customer expectations,” Richard adds. “It has also made
resource planning trickier, meaning we’ve had to remain flexible
to uphold operational efficiency and rigour.”
16 | MODERN INSURANCE
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How are you managing industry
relationships and harnessing collaboration
to build and maintain outstanding
partnerships within the industry?
For Liam, collaboration is the key to success in the motor repair
business. “Hearing the voices and opinions of our customers
and those in the industry is extremely important,” he states.
“We are constantly listening to our customers in order to
review our processes, examining what is and isn’t working and
striving to deliver a suitable resolution for all parties.”
He continues, “We’re also listening to what’s happening in the
wider industry. We understand that the demands of today’s
policyholder are dramatically different to what they were a
couple of years ago. This is why we’ve developed a unique
insurer funding service for total loss cases. Utilising our funding
expertise and the latest in banking technology, we’re stepping
into a new arena for the business and looking to collaborate
with insurers to deliver this brand-new product, one that is set
to completely disrupt the insurance claims industry.”
Nik Ellis is also keen to illustrate an example of a recent
successful industry collaboration. “Laird have actually
just joined forces with one of our clients to produce a
groundbreaking and unique set of processes involving a
complex series of automations,” he says. “By understanding
the expected outcomes from the very beginning and keeping
an agile mindset, we managed to create a proof-of-concept in
record time, moving to production just a few days later.”
“Both companies are proud of what we’ve achieved here,”
he says, “but it all came down to clear, open and honest
communication throughout the process. Don’t be afraid of a
little trial and error; it leaves room for the flexibility to tweak
and optimise certain aspects of the process as you go along.”
Anthony is also no stranger to the concept of partnership and
collaboration. “The majority of credit hire claims are managed
via partnership agreements between credit hire companies and
their insurance partners,” he states, “whether that’s through
the General Terms of Agreement (GTA) or via protocols. CHOs
are supply chain partners in the same way that loss adjusters,
claims companies and law firms also partner with insurers, and
we have to find common ground as part of this process.”
However, he’s keen to stress that this common ground is not
without its tensions. “Of course, there are some outliers who
want to fight the last war,” Anthony adds, “and the Courts are
still being used to sort old arguments around the concept of
‘reasonable’ costs and who should bear them.” The solution? “A
shifting of the collective mindset from one of conflict to one of
commercial compromise.”
A year on from the introduction of the
Consumer Duty, how have you adjusted
your processes to reflect the regulator’s
focus on customer outcomes?
According to Anthony, the Consumer Duty is already starting
to create a mindset change in the credit hire sector, “especially
with regards to the outdated practice of using the courts to
settle cases.”
“Rather than seeking to ‘win’ a legal argument,” he states, “we
need to uphold the principle of Consumer Duty and ensure that
consumers are compensated fairly, with credit hire companies
and insurers both operating in a sustainable, commercially
viable way.”
Jane Pocock is also aware of the Consumer Duty’s significant
impact on the industry. “At Copart, we know how important it is
to provide the best experience for policyholders during what is
sure to be a traumatic time for them,” she states. “That means
utilising our technology, our services and our people to deliver
a swift, seamless and sympathetic claims settlement journey.”
Jane continues, “In our continued efforts to provide the best
possible service, we ensure that our operational teammates are
trained to identify customers in potential need of Reasonable
Adjustments, something which could be due to a wide range of
factors including life events or health related issues.”
“We want to protect vulnerable customers and offer support to
ensure that they experience outcomes the same as those of our
other customers, in line with our Vulnerable Customer Policy.
We are diligent in recording any Reasonable Adjustments
required throughout the various stages of the customer
journey. This is fully documented and visible within our Seller
Portal, providing full awareness around any ongoing support
which may be required.”
Richard has also responded proactively to the introduction of
Consumer Duty. “All of our teams have received the relevant
training, and we have become even more transparent with our
customers throughout the entire scope of the Motofix Group.
We’ve also reviewed our processes, from how we present
quotes to how we communicate our repair timelines, and have
put more frequent customer feedback systems in place. This
allows us to monitor how happy our customers are and quickly
make adjustments if needed. It’s an addition which has had
a positive effect on outcomes; we can address any concerns
in real time and keep meeting – or ultimately, exceeding –
consumer expectations.”
MODERN INSURANCE | 17
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What new technologies and innovations
have you embraced in order to
streamline processes and increase
efficiency?
“At FMG, we’ve created a fully digital solution to make
the claims management process as simple as possible for
policyholders,” Andy begins. “For example, they can book
their own repair or replacement vehicle on our website. We’ve
also introduced robotics to automate approximately 20,000
repetitive tasks behind the scenes, which has increased
productivity, lean efficiency and data accuracy whilst allowing
us to strategically place the human element to add greater
value for policyholders. A further result has been the positive
effect on colleague engagement and retention.”
Quite rightfully, Copart are also proud of their new and
innovative technology solutions - in place to address friction
points within the customer journey and expand their range of
value-added services.
“We work closely with our customers to develop bespoke,
automated service solutions tailored to their individual needs,”
Jane says. “Our ability to do this means that when it comes
to new technology, the speed of implementation on offer is
incredibly unique.”
By way of an example, Jane adds: “For instance, we provide
an extensive range of self-service online tools and portals,
accessible 24/7, and a dedicated account management team,
with availability to take calls outside of operating hours for any
critical or emergency requirements.”
Meanwhile, Nik has become well known for his innovative use
of Artificial Intelligence (AI) at Laird and Swiftcase, having
recently been named Technology Champion of the Year at the
Insurance Times Tech and Innovation Awards 2024.
“To me, AI has been an amazing gift,” he says. “It feels like the
most beneficial use of technology since the birth of the internet
- the goose that lays the golden eggs and just keeps giving.”
But how does Nik use AI in his day-to-day work at Laird and
Swiftcase? “Despite being a well-established company, we
behave more like an agile start-up,” he admits. “Our culture is
one of innovation, within a safe space that rewards failure and
explores ways to enhance any aspect of the business. This is
how we’ve been able to play and experiment with emerging
technologies such as AI, having now utilised it in so many areas
of our work.”
He continues, “Innovation functions best when a small team,
or even just one person, is given the autonomy and freedom
to experiment and take creative risks without the burden
of approval from management or board level. This could be
something small that makes the company just 1% better, or it
can be a moonshot - the intersection of a big problem, radical
solution and breakthrough tech.”
“We’ve discovered that AI is akin to a turbocharger. It does
nothing on its own, but it can boost an engine’s output
considerably. In our case, the ‘engine’ is our automation
platform, Swiftcase. In fact, the vast majority of our processes
are automated, so we’ve been enhancing that workflow over
the last year or two by integrating AI. This works in a few
different ways, but we’ve generally focused on AI that can
perform functions traditionally carried out by staff, particularly
for work that could be considered repetitive.”
However, Nik is keen to stress that it’s not just about driving
efficiency to increase profits. “AI has enabled us to greatly
increase our client offering,” Nik adds. “We do this by using AIpowered
automation, connected into the supply-chain via APIs
to allow data transfer to all stakeholders. This means interactive
information exchanges with our client, yes, but also their
referrers, bodyshops, salvage agents, hire car departments,
the consumer; pretty much anyone involved, enabling the
smoothest cradle-to-grave process.”
Liam is also keen to highlight the unbound and untapped
capabilities of using AI in the motor repair industry. “Late
last year, we began to explore what opportunities there
were to integrate AI into our systems” he states, “examining
opportunities to increase our funding efficiency and the speed
at which we deal with cases.”
“From there, we have successfully been able to introduce AI
into our case management system. We now have the ability
to deploy AI in order to effectively read and input claims
information, speeding up the funding process significantly.
This enables us to prioritise resources and fund more cases per
day.”
But what about non-AI related technologies? “Apart from
the integration of AI into our claims process, we have been
developing a digital portal that is due for release in the coming
months,” Liam says. “This new digital home for our customers
will grant them instant access to their funding account, and
everything they want to know will be just a click away.”
“Customers will also be able to load funding cases directly into
the portal, streamlining the process and ensuring the correct
documentation is submitted. We’re extremely excited to be
rolling this new service out to our customers very soon, and
this is just the initial phase of what the portal will be able to
deliver!”
18 | MODERN INSURANCE
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Is there a need for increased transparency
when it comes to communication, both
internally within the supply chain and
externally to customers?
6
Jane knows that transparency is essential if we are to reduce
administration time for customers and speed up the overall
policyholder journey.
“Our innovative data-sharing technology is unique to the
motor claims industry,” Jane states. “It enables total integration
between our operating system and our customers’ claims
systems, allowing us to interact digitally with insurers from the
point where a vehicle is deemed a Total Loss, through every
stage of the process until final settlement.”
She continues, “The real-time data transfer provides our
customers with an efficient and seamless total loss claims
process, greatly speeding up the journey and delivering
significant benefits for their policyholders.”
“Customers can also review progress on all of their
policyholders’ total loss claims through Copart’s secure Seller
Portal, accessing an expansive reporting suite which provides
real time insights – from live claims to post-event management
data.”
For Nik, the best way to run a company is through ultimate
transparency. “Laird have always allowed our clients to see
almost everything on our system,” he says, “which allows clear
communication and ensures that our clients effectively police
our work, of which our teams are well aware.”
Liam is also in agreement when it comes to the importance of
honesty and transparency in business. “From day one, we have
always had an open-door policy with our customers,” Liam
states. “This forms part of our work as a company, where we
fight tirelessly to challenge the outdated opinion that many
people in the industry have about bodyshops factoring their
repair invoices.”
He continues by emphasising how invoice factoring is not
directly related to underperforming bodyshops. “This outlook
is untrue,” Liam maintains. “The bodyshops who choose to
work with us do so because they see the operational benefits
that are enabled by our funding services. Our customers
are profitable businesses with an appetite for growth, so
the efficiencies we deliver to their cash flow remain critical
elements of helping bodyshops to achieve their strategic
goals. We are constantly championing this perspective,
and transparency is vital when it comes to highlighting the
incredible work and growth our customers continue to achieve
through working with us.”
Anthony also feels that there is still widespread misinformation
around his area of the market. “There’s a high degree of
ignorance about credit hire and what it is there to do,” he
states, “not least within the insurance industry itself and
among customers in need of mobility. For this reason and
many more, the CHO is strongly committed to a transparent
claims journey for customers. However, we’d like to see much
better training for call centre agents dealing with claims. This
will enable a truer understanding of the processes that govern
the management of a credit hire claim from FNOL through to
payment packs. So much friction is caused by ignorance, and
the more we can do to walk a mile in each other’s shoes, the
better.”
MODERN INSURANCE | 19
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MIM68.indd 20
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EDITORIAL BOARD
Engagement and Empathy in Serious
and Catastrophic Injury Claims
Leading a team of lawyers who are often handling the most
complex and sometimes emotionally gut-wrenching cases
requires me to balance my legal expertise and empathy in
leadership very carefully.
Acting Swiftly to Set the Tone
As signatories to the Serious Injury (SI) Guide, we seek early engagement with
our opposing insurer wherever possible. Our experience of the use of the Guide
and Rehab Code is overwhelmingly positive.
In cases involving life changing or fatal injuries, it is very important to act swiftly
in order to secure the financial reassurance that many families are seeking.
Early contact and mapping meetings enable both parties to plan, fund and
progress cases in a timely manner, and whilst it’s not all plain sailing, setting the
tone of a commitment in those initial stages of working together is always ideal.
Having early access to quality and timely rehabilitation makes such a physical
and psychological difference.
Thankfully, there have been a number of improvements in our area of work in
recent years, including support groups and charities that now exist to assist
seriously injured clients and their families.
Caring Deeply to Deliver Fully
This area of work is more than a just a day job. Ten years ago, I set up a branch
of Headway in Sefton, Merseyside. The aim was to create a community of
support, socialisation and friendship to combat the social isolation, physical
and mental health issues that many clients face when living with a brain injury.
These almost always impact clients’ ability to work and live independently, or
where personality changes have occurred, result in the devastating breakdown
of social or marital relationships.
Our work in this area is not really something you can totally switch off from.
We care deeply about our clients and their families. In fact, six lawyers from
the serious injury team at Carpenters Group are now hands-on with different
Headway branches across the UK. This is something they choose to dedicate
their time and expertise to, and it gives me a huge sense of pride to see how
much it matters to them. It also makes me alert to the shadow side of having a
team so invested in such complex and moving cases.
Inclusivity in Serious Injury Claims
We approach our work with a keen eye on the necessity to be knowledgeable
about, and respectful of, the different religions, cultures and customers across
our client base. So, to ensure we achieve this, our teams attend training sessions
to improve our confidence when we set out to deliver advice in an informed
and respectful manner.
We are mindful that the litigation process can be daunting. Along with the use
of plain English and regular communication, we have invested in the production
of an animated video that sits on our web page. The video clearly illustrates the
process that our clients will face on their litigation journey, aiming for a balance
between informative and reassuring.
The welfare of our people is also very important, and I am mindful of empathy
overload and the risks that constant exposure to traumatic instructions,
images and videos may bring. To mitigate this, as well as internal mental health
champions, we have an external expert talk to the team about how to regulate
emotions and develop coping mechanisms to deal with catastrophic injury
cases.
Rarely a week goes by that I am not encouraged by the commitment shown
to Serious Injury cases at Carpenters Group, confirming the ongoing need to
focus on how we balance the needs of the client with the wellbeing of the legal
professionals championing their case.
Carol Hopwood,
Head of Serious and Catastrophic Injury, Carpenters Group
Satisfied Customers Are
Brand Ambassadors
At ParaCode, the experience of existing customers
plays a pivotal role in shaping how prospective
customers engage with our business. In a digital
age where customer feedback and reviews are
readily accessible, the relationship between current
customer satisfaction and prospective customer
engagement is stronger than ever.
First and foremost, satisfied existing customers are one of our most
valuable assets in attracting new business. Their experiences - shared
via testimonials, case studies, and word-of-mouth recommendations -
provide a layer of credibility that traditional marketing efforts cannot
easily replicate. When prospective customers see positive feedback
from peers who have successfully utilized our insurance software
solutions, it builds trust. In an industry like insurance, where precision,
reliability, and efficiency are key, the experiences of those already
benefiting from our platform significantly influence the decisionmaking
process of potential clients.
Moreover, happy customers who experience seamless implementation,
ease of use and consistent support are more likely to share their
success stories. We actively encourage and facilitate this through
user-generated content, such as reviews on third-party sites or
participation in industry forums. These organic insights into our
platform’s real-world performance act as powerful endorsements.
Prospective customers trust these authentic accounts because they
reflect how our software performs in practice, not just in theory. In
turn, they feel more confident in engaging with our business, knowing
that others have had positive outcomes.
Additionally, we have observed that the level of engagement from
current customers can create a community of shared knowledge.
This happens through user groups, webinars and online communities,
where our existing customers often help prospective clients
understand the nuances of our software. These interactions not only
foster stronger relationships with our current clients but also serve as
an indirect customer acquisition channel. When potential clients see a
vibrant, knowledgeable user base actively discussing the benefits and
features of our software, it enhances their perception of the company
as a trusted partner and industry leader.
Furthermore, the feedback loop from existing customers is critical in
our continuous improvement process. By listening to our customers’
needs, frustrations, and suggestions, we can refine our product
offerings and customer service. This constant evolution demonstrates
to prospective customers that we are committed to innovation
and customer-centric solutions. A company that listens and adapts
based on the feedback of its current customers signals to potential
clients that their own needs will also be heard and addressed. This
commitment to responsiveness can be a major factor in their decision
to engage with our business.
In conclusion, the experiences of existing customers significantly
influence how prospective customers engage with our company.
From generating trust through testimonials and reviews to fostering
a supportive community, satisfied customers act as ambassadors for
our brand. Their positive experiences set the stage for new clients,
ultimately driving our growth and success.
Will Prest,
Product Manager, ParaCode
MODERN INSURANCE | 21
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Building an Environment
that Works
There’s no silver bullet in respect of a road
rescue company which hits all the critical
non-essential elements at once. It’s a culmination
of building an environment that works for the
individuals across the business.
Incentive structures, pensions, private healthcare assistance, onsite
security, training, clothing, personal safety equipment, compliance;
the list goes on. It’s also important to instil a sense of pride about
appearance - not only in relation to our staff, but also with the truck
they’re using. Confidence increases when the aesthetics are in place,
which in itself builds a happier environment for the team and persona
of the individual as they arrive at a roadside incident.
Put simply however, the asset cost in our industry is huge. This
causes difficulty when it comes to balancing budgetary restraints
with exemplary service to many different partners, but they all have
one common thread: a driver, and maybe some passengers too! As
such, the team’s focus must centre around the vulnerability of the
individuals involved. Respect, safety and empathy are paramount,
both for the situation and for the people affected, whilst focusing on
delivering a seamless professional service under extremely difficult
circumstances at the side of a busy road or motorway.
CMG support our internal staff - such as the training team, the health
and safety team and the compliance team - with external expertise to
ensure that we stay abreast of changes and improvements. We can
then adopt and adapt these for use internally, ensuring we remain at
the forefront of change within the industry.
Compliance and training are two key areas of importance here.
Training is certainly a developing market which can be seen in two
main areas, firstly concerning internal developments in respect of
advancements in vehicles and the equipment utilised by our staff in
their day-to-day role. Training can also be relevant to the vehicles
which the staff attend to, such as the gradual introduction of Electric
Vehicles (EVs) and Automatic Driving Assistance Systems (ADAS).
Finally, our measured success can also be concentrated on staff
retention, coupled with a steady growth in customer-centred business
development.
Jason Brice,
Managing Director, CMG
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MIM68.indd 24
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EDITORIAL BOARD
A Unique
Company Culture
The Vella Group has always believed in investing in people
and creating a supportive and collaborative working
environment for our team. This long-standing culture is
something we continue to nurture and promote across
every site and department, as we believe that investing in
people creates a more successful and robust business.
During COVID-19, when many businesses downsized or restructured, we made
the strategic decision to invest in our people. We asked our employees if they
would prefer to keep working or be temporarily furloughed, and we rolled out
our enhanced sick pay policy to all staff. In 2021, we offered employees the
option to join our Medicash programme, a health cash plan provider that offers
financial assistance for medical treatments. Our employees are also provided
with 33 days of annual leave as standard, along with enhanced maternity leave
which we introduced in 2015, and enhanced paternity leave which was rolled
out in 2019. Supporting our staff is a critical element of our people strategy and
wider business culture, creating an environment where individuals feel valued
and respected.
In many large accident repair groups, technicians are remunerated through a
combination of hourly pay and efficiency bonuses, which reward individuals
based on how quickly they can complete a repair. In 2015, we began moving
away from this form of remuneration and transitioned our productive teams to
salary packages. This was fundamental to creating effective teams at our sites.
Our employee retention remains above the industry average, and we believe
this is due to the environment we create.
Recognising talent and creating development opportunities for our employees
is another key element of our people strategy. We continue to operate an
award-winning apprenticeship programme across all our sites, but we also
invest in our people in other areas of the business and at different stages of
their careers. Recognising talent, internal development and promotion serves
as inspiration to our wider team about the opportunities available. Our current
management and leadership teams are a testament to this commitment, with
many progressing through the business into their current roles.
Beyond our remuneration packages, we are also committed to open and
transparent communication across the business. As we have grown significantly
over the last five years, it would have been easy to lose the culture we had
as a smaller business. We communicate with our staff through a weekly
newsletter and recognise people who have delivered exceptional work through
our monthly recognition award programme. We also run an online quarterly
business update, which sees all employees join a 30-minute call to learn what is
going on in the wider business.
We believe that a successful people-centric culture is critical to the success
of our business. Our Human Resources team has representation across our
business, including on our executive team. Having this people focus at an
executive level ensures that our employee culture and wellness remain one of
our top priorities, continuing to have a direct impact on the strategic direction
of The Vella Group in the future.
Helen Driscoll,
HR Director, The Vella Group
Critical Non-Essentials: The
Backbone of Rehabilitation Success
In the rehabilitation sector, the difference between
average and excellent care often hinges on critical
non-essentials—those subtle yet vital elements
beyond clinical service. At RTW Plus, our mission
extends beyond physical recovery. We help
individuals regain independence, confidence, and
quality of life.
Here are the critical non-essentials that underpin our success:
Personalised, Holistic Care
While clinical expertise is vital, impactful rehabilitation involves
more. Our holistic approach prioritises the emotional, psychological,
and social needs of each client. Whether it’s tailoring rehabilitation
programmes to personal goals or ensuring family involvement,
we go beyond physical therapy, helping clients rediscover joy and
purpose through their rehabilitation. We live and breathe our strapline:
Empowering Lives, Restoring Futures.
Empathy and Emotional Intelligence
Our case managers’ ability to connect with clients is a key
differentiator. Investing in empathy and sensitivity training for our
team ensures that everyone understands and supports the unique
vulnerabilities of our clients. This enhances trust and fosters an
atmosphere where clients feel genuinely heard—leading to more
effective engagement and, ultimately, better outcomes.
Accessible and Flexible Services
Barriers to timely care can hinder recovery. We address this with
flexible appointment scheduling and remote rehabilitation options,
such as remote assessments and digital physiotherapy. These options
ensure that clients with mobility issues or challenging schedules can
access care without delay. Though small details, these efforts remove
friction, keep clients progressing, and provide continuity when it’s
needed most.
Staff Wellbeing and Motivation
To provide great client care, our team must feel valued and inspired.
We offer benefits, wellness programmes and career development
opportunities to motivate our team. These initiatives ensure a
motivated workforce, which directly benefits client outcomes. Our
commitment to staff wellbeing drives retention, engagement and a
positive culture, all of which reflect in the quality of care we deliver.
Though our main goal is effective rehabilitation, the critical
non-essentials—empathy, holistic care, accessibility, and staff
wellbeing—are what distinguish us from others. These elements
lay the foundation for a more fulfilling and successful rehabilitation
experience, resulting in improved outcomes and creating a deeper,
lasting impact on the lives of our clients.
Deborah Edwards,
Chief Executive Officer, RTW Plus
MODERN INSURANCE | 25
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EDITORIAL BOARD
Going Above and Beyond
As with many industries, we have challenges around the
widening skills gap, so retention is key to our success.
Alongside this, the rapid evolution of ADAS technology
requires our training team to be ahead of the curve and
anticipate the trends that will influence the industry in the
future.
The most effective way of motivating and retaining our
staff is to continuously develop their skillsets with training
and clear pathways for progression. Offering opportunities
for progression is embedded in our DNA at National
Windscreens. This is based upon providing quality training
and making staff feel valued in their role; by doing so, they
will go the extra mile for customers in return.
Everything we do is focused on delivering sustainable vehicle
glass solutions at pace. However, we also appreciate the
importance of how the experience makes the policyholder
feel once the job is completed. Policyholders appreciate a
local, simple, prompt service and value positive interactions,
so we focus on providing the highest standard of training to
help our team deliver this.
However, continuous innovation at National Windscreens can
be a double-edged sword. Increased vehicle complexity adds
pressure to our service levels, so we manage policyholder
expectations by providing them with as much information as
possible when it comes to repair turnaround times.
We’ve also established a culture of collaboration across the
business, from the front-end technical team and our contact
centre right through to customer services. As part of Cary
Group, we benefit from a wealth of expertise across European
markets and benefit from their best practices as well as our
own. For example, the transformation team is driving the
customer experience forward, utilising cross-market expertise
across key areas of the business including sustainability,
technical, and procurement.
We serve a wide variety of customers, from policy holders
to insurance and fleet partners. Recognising these different
markets and understanding the associated nuances enables
our team to create bespoke arrangements, a level of detail
and customer care which is appreciated by our partners
and their policyholders. We also know that effective
communication is greatly appreciated, helping to build trust
with the brand and shape the future of National Windscreens.
Simon Hunt,
Commercial & Services Director, National Windscreens
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1 19/11/2024 10/09/2024 12:37 11:38
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EDITORIAL BOARD
Kinetic 2025:
Moving Forward Together
The automotive industry continues to shift towards more
advanced technologies, integrating with advanced
driver-assistance systems (ADAS) to enhance overall
vehicle performance and safety. In response, the repair
industry needs to adapt to connected car and digital
technologies to provide customer-centricity.
Vizion continues to position itself at the vanguard of innovation,
playing a significant role in continuously developing digital solutions
to provide support for our partners and repairers. Seamless
connected systems solidify our position as market leaders and the
largest network in the UK.
Our recent inclusion in the 2024 E2E Dynamic 100, partnered with
The Independent, comes in the wake of continued expansion into
Europe and sustained growth across all areas of the business.
The 2024 E2E Dynamic 100 is a significant milestone as we continue
to drive solid growth, create jobs and achieve new benchmarks in the
industry. Delivering outstanding customer outcomes and removing
unnecessary cost and complexity from the supply chain through
systems and innovation are core to these strategies.
Kinetic returns in 2025
Kinetic’25 represents the next stage in the evolution of Vizion’s highly
successful live industry event calendar, whose fundamental aim is to
showcase innovation and improve communication and processes.
With the theme of ‘infinite possibilities,’ our focus is on sharing
knowledge, inspiring and motivating the wider repair industry.
During Kinetic, you’ll be surrounded by a vibrant community of likeminded
individuals, including CEOs, repairers, partners, insurers, and
representatives from leading vehicle manufacturers.
Discover innovations and solutions from leading national and
international exhibitors whilst networking with decision-makers and
inventive minds from the industry. Our new diverse supplier support
program promotes the exchange of knowledge and offers ideal
networking opportunities during the day and into the evening.
For two days in 2025, hundreds of delegates from the UK and beyond
will attend an event that is truly designed to change perceptions.
Together, we will build the future of customer engagement and
connected car solutions.
If you would like to attend, sponsor or exhibit at the event, visit
www.kinetic25.com for more information, and let’s move forward
together, again.
Chris McKie,
Managing Director, Vizion Network
Revving up Talent: The Power of
Apprenticeships in Vehicle Repair
As a People Director, I’ve seen how tough it can be to
recruit skilled repair technicians. As an industry, we need
to think about how we attract new talent, and that’s where
apprenticeships come in.
Apprenticeships aren’t just a nice-to-have; they are essential
for maintaining high standards, adapting to new technologies,
and securing long-term success for any vehicle repair
business.
At Activate Group, we believe apprenticeships are key to
the future of our industry. This commitment was recently
recognised when we were named Thatcham Research
Apprentice Employer of the Year at the 2024 British
Bodyshop Awards, a clear sign that our approach to nurturing
young talent is paying off.
When we set up our apprenticeship programme, our goal was
to offer a meaningful introduction to the best our industry has
to offer. Here’s how we do it.
Creating a Supportive Community
One of the things I’m most proud of is the sense of
community we’ve built among our apprentices. Every year,
we bring in a new cohort of apprentices who all start their
journey together. This approach has made such a difference—
it means they can share experiences, support each other, and
grow as a group. When they come across a new challenge,
having that peer network makes a real difference.
Structured Learning with Real Support
Of course, building a strong community is only part of the
equation. To really set our apprentices up for success, we
begin with a careful and candidate-centric recruitment
process. Then, once the apprentices come on board, we
assign each one a mentor.
These mentors play an incredibly important role in leading
their apprentice’s on-site learning. Apprentices also attend
block sessions at Thatcham Research. This combination of
practical learning and classroom-style education is key to
providing a well-rounded foundation.
Equipping Apprentices for the Future
The automotive world is changing rapidly. We make sure our
apprentices are trained in new technologies at our state-ofthe-art
repair centres, because we’re not just preparing them
for today’s challenges—we’re setting them up to succeed for
the long-term future of the industry.
I’m so proud of the role that Activate Group is playing in
shaping the future of vehicle repair. By providing young
professionals with the skills, experience, and support they
need, we’re not just helping them succeed—we’re helping our
industry evolve, and foster the next generation of expertise.
Danielle Chruszcz,
People Director, Activate Group
MODERN INSURANCE | 29
2024 11:38 MIM68.indd 29
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Our Innovative
Solutions
At RTW Plus, we pride ourselves in delivering rehabilitation case management and health
and well-being solutions based on cutting-edge research and next-generation
technologies. Our services are available to employers, insurers, the NHS, private
companies and individuals.
CASE MANAGMENT
Our INA services incorporate the traditional face-to-face
model conducted by our nationwide network of experienced
case managers as well as our unique virtual INA+MD
assessment. This includes a multi-disciplinary assessment
by a diverse team of specialist clinicians, whose inputs are
woven into a singular, cohesive INA report and rehabilitation
plan providing a clear and comprehensive roadmap for
recovery.
VOCATIONAL CONSULTANCY
Whilst our case managers keep return to work front and
centre of their rehab planning, where we utilise our team of
specialist vocational consultants who utilise functional
testing methods and evidence-based practices to help
people stay in work or return to work after ill health or injury.
RESTORE PAIN MANAGMENT SOLUTIONS
Our pain management programmes include RESTORE, a
remote personalised pain management solution, and
RESTORE PLUS, a unique remote multidisciplinary team
(MDT) approach for comprehensive persistent pain
management. Our evidence-based approach features the
proprietary Pain Decision Pathway (PDP) and a digital
health application, providing tailored interventions and
remote services. These cost-effective solutions include
one-on-one coaching, wearable fitness trackers, and
multidisciplinary assessments and treatment to ensure
comprehensive care. Our programmes aim to reduce pain,
improve emotional wellbeing and sleep, decrease reliance
on medication, and enhance confidence in selfmanagement
0203 916 0091 info@rtwplus.com www.rtwplus.com
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EDITORIAL BOARD
The Benefits of
Modernisation
e
d
D
nt
re
n
or
Technology is the backbone of any modern business
strategy. Just as it replaces outdated methods of working,
it can also enhance our already established working
systems.
Here at FMG, we’re embracing the opportunity presented
by new technology to enhance our customers’ experience
of motor claims management. As self-service technology
options appear in all aspects of our daily lives, we’re adding
the final pieces to our own fully digital journey for our techsavvy
customers.
We’re giving customers and drivers a choice in how they
prefer to interact with us at any given time, whether by phone
or through digital self-serve technology, starting at the point
of claim notification.
The FNOL stage is our first direct contact with a policyholder,
and it can significantly impact both the customer experience
and the costs associated with the incident. Enhancing this
stage with the addition of our Electronic Notification of
Loss (ENOL) platform provides the perfect tool for those
customers willing to abstain from human contact, offering the
ability to log an incident online at any time, from any location,
and using any device. Other customers choose to pick up the
phone to report their claim, engaging with a real person in
order to be listened to, empathised with, and reassured.
The new ENOL digital journey delivers on the exact same
foundations and principles we’ve honed for telephone FNOL,
with Ingenium - our long-established proprietary system
- powering and automating every downstream service
through intelligently connected systems. It all comes down to
providing a seamless journey for the customer, making sure
their journey is sleek and simple and providing reassurance in
the knowledge that we will put things right.
We understand that the best modern business strategy is not
just about technology-driven solutions. It’s about knowing
where technology will deliver the best value, recognising
where people will, and presenting our customers with that
choice. Our ENOL solution has been crafted carefully to
ensure consistency of service and experience, regardless of
notification channel.
Moreover, we’ll keep investing in new technology to enhance
our existing system, one that hopes to strike the right balance
between driving routine claims through automated systems
and the compelling need to maintain human contact in the
moments that matter most.
Andrew Chandler,
Managing Director, FMG
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Levelling the Playing Field for
Brokers in Property Insurance
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Extreme weather events played a massive part in
making 2023’s rise in weather-related home claims
record-breaking i . The value of claims was up 36%
on 2022 at £573 million. Meanwhile, the London
Climate Resilience Review ii concluded that the UK
is underprepared for climate change impacts like
flooding and extreme heat.
With severe weather events more frequent, brokers are under pressure
to assess property risks for their insurance partners more fully. Brokers
are also keen to increase transparency, explaining to their customers
how property characteristics and environmental factors influence
insurance decisions, which can also help to secure instant premiums.
Historically, smaller brokers have not had access to the depth and
breadth of geospatial intelligence data that insurers, larger MGAs and
brokers enjoy. Whilst they have not often needed this detailed level
of insight, brokers do require a core understanding of perils risks for
the insurance quotes they are securing. This means that the right risks
are passed along to their insurance partners, resulting in cover that’s
appropriate for the customer’s needs.
In essence, brokers need swift, simple and cost-effective access to
geospatial intelligence data at the point of quote. This is exactly what
LexisNexis® Geospatial Risk is now delivering to the broker community,
helping smaller brokers understand the geospatial risk of an individual
address and source insurance options suited to the customer’s needs.
As a packaged suite of perils and property data enrichment solutions,
LexisNexis® Geospatial Risk gives brokers access to key risk scores
for perils such as flood, subsidence and crime. Aligned with property
insights, like the roof type and number of bedrooms, a more accurate
assessment of property risk is achievable.
As well as delivering a picture of geospatial risk for insurance quotes,
brokers now have an opportunity to educate property owners about
the potential vulnerabilities of their home or business. By using more
granular data on a particular property, insurance providers and
their customers could better prepare for risks by improving flood
protection or surveying the planting of trees around their property
to help protect against subsidence.
Leveraging geospatial intelligence data to assess risk at an individual
property level can be incredibly beneficial, especially for smaller
brokers who might not have access to extensive resources for risk
assessment. By providing this information, brokers can offer more
informed insurance options tailored to the specific needs and risks
of each client. LexisNexis® Geospatial Risk is a great example of how
smaller brokers are being empowered to make more data-driven
decisions to better serve their customers.
Caroline Elliott-Grey,
senior product manager, UK and Ireland, LexisNexis Risk
Solutions, Insurance
i https://www.abi.org.uk/news/news-articles/2024/4/weather-damage-insurance-claims-worston-record/
ii https://www.london.gov.uk/sites/default/files/2024-01/LCRR%20interim%20report%20
press%20release%20FINAL%20%281%29.pdf
MODERN INSURANCE | 31
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MIM68.indd 32
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EDITORIAL BOARD
Digilog Land in the US:
A Q&A with Digilog
& DigitalT3
In an exclusive interview with Modern
Insurance Magazine, Lior Koskas – CEO at
Digilog UK – and Alfred Gracias – Founder
and CEO at DigitalT3 – sat down to discuss
their new partnership, their hopes for the
future, and the appeal of the US market.
QLet’s start by talking about DigitalT3! Who are
you, what do you do, and how do you do it?
AAlfred: At DigitalT3, we’re dedicated to connecting
innovative and specialised technology solutions with the
Fortune 2000 companies that need them. Our Digital
Explorer programme is designed to identify and showcase
the most promising Digital and AI products on the market,
and we’re excited to announce that Digilog’s DiVA (Digital
intelligence Voice Analysis) has been selected as one of our
featured products for this year. Digilog’s DiVA offering will slot
into the umbrella of products that we are able to offer to the
US market, knowing that what they provide is tried and tested
elsewhere in the world and destined to succeed.
QLior, how do you expect this partnership with
DigitalT3 to bring Digilog’s product offering to a
broader audience?
Lior: Finding a way into the US market has been on
our list of priorities for a while. We’ve been operating
A successfully in the UK, South Africa, South America and
Europe, and we naturally wanted to find the most suitable
partner to help us achieve a breakthrough in the States.
At Digilog, collaborating with partners is one of our key
strategies, and DigitalT3 presented the best package offering
for us in terms of enabling that collaboration on the other side
of the Atlantic. We’ve built a great rapport with Alfred and the
team; they have strong connections and a great infrastructure
through how they represent other similar technologies. They
also have a fantastic reputation, so it’s a perfect fit for us and a
brilliant opportunity to bring DiVA to a fresh, new audience.
QSo, what impact do you both expect this
partnership to have on the fraud landscape in the
US?
AAlfred: The risk of fraud is a growing concern across the
industry, from insurance claims to credit applications
and talent acquisitions. In response, companies are
seeking innovative solutions to mitigate this risk, and DiVA
offers a cutting-edge solution to detect, prevent and respond
to these fraudulent activities. I expect the fraud landscape in
the US to respond well to this offering, particularly when it
comes to safeguarding reputations and streamlining processes
using DiVA as a guidance tool to enable better decision
making.
Lior: We also know that the US market is very open to this
type of technology. DiVA’s ability to validate information can
be applied to many different contexts in the States, but the
US market seems to be a little bit behind the UK in terms of
platform solutions and technologies. On the other hand, the
appetite is there. The US are explorative and forward thinking;
technology is always something that the market in the US is
willing to consider, and their approach tends to be much less
conservative. So, there’s definitely a real chance to make an
impact with DiVA by finding the right partner and capitalising
on this window of opportunity!
QWhat other results might come about as a
consequence?
AAlfred: Of course, the immediate goal is to land our
first big client and create a splash! As Lior mentioned,
there’s a clear gap in the market for this kind of
focused technology solution, and we’re likely to uncover
new industry use-cases as part of this exploratory enterprise.
We’re definitely starting to see the consequences of DiVA
propagating other industries; firms are starting to consider
how voice validation technology can apply to their own world,
which is great to see! It’s a really versatile technology and
offers huge scope for many different industries, making this a
key reason why our partnership with Digilog is so exciting.
Lior: Exactly! What we bring to the table is unique because
it still involves the human element. There’s a place for AI,
but DiVA is never going to be powered solely by computers.
It’s a combination of human input and technology, which is
absolutely the right way to operate – at least for the time
being. The human aspect keeps the integrity of DiVA in check;
it makes the technology more accurate and robust, but it also
keeps the customer calm and reassured, especially in a world
where privacy and data protection is so important.
Lior Koskas,
CEO, Digilog UK
Alfred Gracias,
Founder & CEO, DigitalT3
MODERN INSURANCE | 33
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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)
Kim Harrison
President, Association of Personal
Injury Lawyers (APIL)
Dr Matthew Connell
Director, Policy and Public Affairs,
Chartered Insurance Institute (CII)
Mike Keating
CEO, Managing General Agents’
Association (MGAA)
Julie Comer
Head of Compliance, British Insurance
Brokers’ Association (BIBA)
Louise Cheney Lowe
Member of London Forum of Insurance
Lawyers (FOIL)
Associate at Kennedys
MIM68.indd 34
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ASSOCIATIONS ASSEMBLE
Sue Brown
Title: Chair
Association: Motor Accident Solicitors Society
(MASS)
Restoring the Balance
for Claimants
After a summer dominated by prisons, riots and
criminal justice, we are likely entering into a period
where civil justice issues will hopefully come to the
fore. The now long overdue review of the Whiplash
Injury Regulations 2021 is expected to be published
imminently, ahead of a limited degree of scrutiny by
Parliament.
Given that the ‘inflationary buffer’ of around 11%
announced in 2021 fell painfully short of the inflation
reality, a substantive increase in the tariff would be
fully justified. If the tariff is not adequately corrected
upwards, Labour MPs can fully expect an outcry from
the claimant sector.
Given Louise Haigh’s comments during the election
campaign, we can anticipate further details of the
formal inquiry into insurance premiums by the relevant
regulatory authorities. MASS will be pushing for
the Financial Conduct Authority (FCA) to explore
all available options to ensure that motor insurance
remains affordable for consumers, and that the
promised annualised savings are returned to premium
holders.
The election of Andy Slaughter and Ruth Cadbury
as Chairs of the respective Justice and Transport
Committees may precipitate a more intensive degree of
scrutiny around motor accidents and a range of other
civil justice issues.
It should not be forgotten that in opposition, Labour
strongly opposed the Legal Aid, Sentencing and
Punishment of Offenders Act (LASPO) and the Civil
Liability Act. Championing the consumer, the party
has long voiced support for the principles of access
to justice and equality of arms. We are approaching a
period where it is hoped that these words of support
are turned into action. The legislative and regulatory
agenda of recent years has strongly favoured the
interests of defendants. It is now time to better protect
the interests of claimants and restore the balance that
should exist in our legal system, where neither side is
unduly favoured in the eyes of the law.
Dr Kim Matthew HarrisonConnell
Title: Director Presidentof Policy and Public Affairs
Association: Chartered Association Insurance of Personal Institute Injury (CII)
Lawyers (APIL)
Rusty’s Story
When talking about the value of the law on
compensation for victims of negligence,
nothing is more compelling than hearing
about the lived experiences of injured
people.
The Rebuilding Shattered Lives campaign aims to
put injured people at the heart of policymaking.
The campaign’s short and captivating films
featuring real injured people demonstrate the
critical importance of the law on personal injury to
the individuals who must turn to it in their hour of
need. Rusty Brown is the leading man in the latest
film, Rusty’s Story, which is doing the rounds on
social media to very positive feedback.
Rusty’s car was hit head-on by a speeding driver
as he made his way home one evening, resulting
in catastrophic injuries for Rusty who went on
to have his leg amputated. Securing an interim
payment was a ‘turning point’, after which Rusty
could get an appropriate prosthetic leg and move
from his narrow Victorian terrace to a bungalow,
which could be adapted effectively and made safe
for him. Despite having been through one of the
worst events imaginable, Rusty’s outlook is now
positive. He is back on track.
In any deliberations about personal injury law,
the Government must ensure people like Rusty
get the compensation they need. Rebuilding
Shattered Lives is not only APIL’s campaign; it’s
for all to get behind, particularly those who work
with injured victims of negligence.
Victims of negligence rely on the law to provide
them with redress. We must be vigilant and ensure
that it is not eroded. Law-makers and opinionformers
must be helped to understand what it is
like to have a life devastated by needless injury,
and what is needed to rebuild lives. It starts with
raising awareness through stories like Rusty’s.
Find Rusty’s Story by searching
#RebuildingShatteredLives on social media.
MODERN INSURANCE | 35
MIM68.indd 35
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SAVE
THE
DATE
03.09.25 - 04.09.25
Telford International Centre
Kinetic is back! created to inform, inspire and motivate the industry, to
achieve growth and profitability through the active application of innovation
and technology to achieve great customer outcomes.
Kinetic’25 promises to be bigger and will again showcase the
industries finest suppliers, partners and innovators.
Kinetic’25 represents the next stage in the evolution of our
highly successful live events, who’s fundemental aim is to
showcase innovation, improve communication and improve
processes. Moving forward together through collaboration
providing with infinite possibilites.
Kinetic offers a unique opportunity to be part of a leading
automotive event. Gain significant brand exposure and
promote your company.
If you are interested in attending, getting involved, booking
a stand or talking to the Kinetic team about exhibiting or
sponsorship options please get in touch or visit the site
below. Let’s move forward together, again.
www.kinetic25.com
kinetic@vizionnetwork.co.uk
MIM68.indd 36
19/11/2024 12:37 pm

ASSOCIATIONS ASSEMBLE
Dr Matthew Connell
Title: Director, Policy and Public Affairs
Association: Chartered Insurance Institute (CII)
Are there any
‘non-essentials’ in
insurance anymore?
The old idea that insurance is a set of financial
transactions, risk pooling and legal contracts –
plus a load of other ‘soft stuff’ – is increasingly
under threat. For example, the Financial Conduct
Authority’s Consumer Duty makes demands around
customer support and customer understanding that
go far beyond the operational basics.
For those who believe that corporate markets are
immune to this change, the issues around cyber
security, leaseholders and business interruption
insurance have shown that effective empathy and
communication with both clients and end users (now
known as ‘policy stakeholders’) is essential.
So, how do individuals adapt to this change? What
challenges do they approach first?
First of all, it is impossible for one person to possess all
the knowledge needed to manage risk and insurance –
even with shortcuts like Artificial Intelligence (AI). We
have to decide what store of core technical knowledge
we are going to develop and maintain to do our role,
and how we are going to develop the knowledge and
skills to use other ‘enablers’ – including compliance,
data management, technology and ethical frameworks.
These are areas that we will not be able to master on
our own, but we need to develop the ability to relate
effectively to those with the expertise we need.
Mastering that access will involve developing
behaviours, including curiosity, customer focus, the
drive to deliver, impact, inclusivity, insight and integrity.
To some extent, we come to the workplace having
developed these behaviours, but it is only by keeping
them alive and developing them further that we can
operate in a world where everything is relevant.
So, if there is a line to be drawn between ‘essentials’
and ‘non-essentials’, the true essentials are the generic
behaviours that allow us to prioritise, access and
manage the knowledge and enablers necessary to
succeed.
Dr Mike Matthew KeatingConnell
Title: Director CEO of Policy and Public Affairs
Association: Chartered Managing General Insurance Agents’ Institute (CII)
Association (MGAA)
A Healthy, Content
Workforce Equals
Productivity
The importance of having a happy, content
workforce - motivated to deliver excellence
everyday - cannot be understated, and
is arguably the key pillar that successful
businesses build from.
However, with the ‘war on talent’ continuing to rage
and showing no signs of abatement, the need for
organisations to provide an all-encompassing package
for staff - with attractive benefits other than the
traditional approach around salary, bonuses and holiday
entitlement - is now a non-negotiable hygiene factor, not
just a ‘nice-to-have’.
MGAA members have been at the forefront of these
initiatives, with many being recognised as great places
to work through receipt of industry awards and other
such acknowledgements. These firms are demonstrating
some truly innovative staff benefits, from sabbaticals
through to flexible childcare options, to make their
staff feel valued and show that as an employer, they
recognise the importance of a healthy and sustainable
work/life balance.
Another important aspect of these evolving packages is
mental wellbeing, both at work and home. In recognising
how this underpins a happy and content workforce, the
MGAA has included an embedded ‘Mental Health in
Business’ package for all current members, which came
into effect this September. The package has several key
offerings all centred around workplace mental health,
aiming to support businesses when it comes to creating
psychologically safe and healthy workplaces.
The initial response from our members has been
wonderful, and this can only lead to a happy and
motivated workforce, a fantastic culture, and improved
productivity in the long-term. The fact that our sector
has a clear focus on staff welfare and wellbeing is
extremely encouraging, and I’m sure that we will see
further exciting initiatives introduced over
the next few years. What’s clear
is that businesses who want
to succeed cannot afford to
ignore these fast-moving
developments if they
aspire to retain and attract
new talent.
MODERN INSURANCE | 37
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ASSOCIATIONS ASSEMBLE
Julie Comer
Title: Head of Compliance
Association: British Insurance Brokers’
Association (BIBA)
Principal Firms have
been Reviewed – how
did they fare?
It’s been almost two years since the new rules for
overseeing appointed representatives (ARs) were
introduced by the Financial Conduct Authority
(FCA).
In September, the regulator published their review
findings on how principals are embedding the rules and
meeting the regulator’s enhanced expectations. The
headline findings concluded that whilst the oversight
was ‘improving’, there is still ‘more to do’.
They found 20% of the firms sampled had not
completed a self-assessment or annual review. Of the
principals that did (82%), just under half were of good
quality. Two thirds of principal firms were using data
and management information, with over half saying
they regularly reviewed their AR agreements. At least
half of firms said they made regular firm-facing visits or
held regular meetings with their ARs.
BIBA favour the FCA continuing to give practical help
by providing examples of good practice in their reviews,
and principal firms may wish to consider the content as
a yardstick for measuring their own progress.
We would not look at the review as negative. Instead,
we would suggest avoiding a ‘tick-box’ approach,
focusing on thoroughly assessing the effectiveness of
your arrangements and documenting them. Remember
the adage: “if it’s not written down, it didn’t happen!”
The regulator does not want to discourage the use of
ARs. Meanwhile, if firms are planning to take on a new
AR or Introducer Appointed Representative (IAR), it
is worth reviewing your approach against the findings
to ensure they are up to date, as the last time you on
onboarded an AR may have been before the rules
changed.
Louise Cheney Lowe
Title: Member and Associate
Association:
London Forum of Insurance
Lawyers (FOIL) and Kennedys
The Rise of D&O Litigation:
How Diversity Commitments
Are Shaping Future Risks in
the UK
In recent years, the US has seen an upturn in
litigation against the boards of public companies
alleging breaches of fiduciary duties relating
to diversity and inclusion. This fails to make
changes pertaining to the diversity of senior
office holders, for example, thereby contradicting
public statements of commitments to improve
diversity.
Whilst the UK has yet to see comparable claims, the tide
could soon turn. Prior to this summer’s general election,
Labour unveiled plans for a Race Equality Act which
would extend full equal pay to ethnic minority workers and
disabled people. Previously, in 2022, the Financial Conduct
Authority (FCA) introduced Listing Rules requiring in-scope
companies to detail whether they have met targets in their
annual reports and, if not, to explain why. In 2023, the FCA
also published consultation papers with a view to boosting
diversity and inclusion across the financial services sector -
though the implementation of reforms has been impacted
by various events, and it may be that legislative reform
effectively supersedes changes envisaged by the FCA.
It seems reasonable to anticipate similar claims emerging
in the UK to those in the US. Companies should act now
to effect change by implementing policies encouraging
diversity at senior levels, and by delivering on publicly stated
corporate objectives. Care should be taken when drafting
public statements regarding diversity efforts, ensuring
accuracy and demonstrable implementation.
D&O insurers of public US companies have generally
responded to increasing ESG-related exposures by raising
premiums, or otherwise widening exclusions. It would be
prudent for UK underwriters to scrutinise companies’ board
compositions, diversity policies, performance indicators,
training and recruitment methods, and related public
statements to effectively assess future D&O exposures.
D&O insurers should also consider communications that
have been made by D&Os and corporations on social media
pertaining to ESG, as these could also present potential
exposures.
MODERN INSURANCE | 39
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MIM68.indd 40
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THE
FRAUD
BOARD
Over the coming weeks, we hope to publish the Insurance Sector
Fraud Charter, outlining a series of commitments from insurers
and the Government aimed at bolstering the UK’s defence
against insurance fraud. A key commitment will focus on industry
fraud statistics, crucial for substantiating policy proposals to
the Government and for guiding the allocation of counter fraud
resource to combat the most pressing threats.
The ABI’s latest general insurance fraud statistics reveal an increase in
the number of detected frauds for the first time since 2019, with 84,400
fraudulent claims identified - up by 11,800 from 2022, and a 4% rise in value to
£1.1bn. This year’s collection was notable in that, for the first time, it publishes
fraud by typology as well as by product line. The most frequent scam was
“exaggerated loss”, with 25,700 claims totalling £407m.
Put simply, insurance fraud is being driven by individuals and technology.
People facing financial hardship may act in the moment to commit fraud
impulsively, potentially as a one-off act. Meanwhile, GenAI is offering a costeffective
means to convincingly manipulate images online rather than staging
physical accidents.
Motor insurance fraud remains the most prevalent, accounting for over half
of all fraudulent claims at a value of £501m. The Official Injuries Portal, which
enables people to bring compensation claims without recourse to legal
representation, has helped reduce personal injury motor claims, indicating
its success. But there has been a significant shift towards non-injury-related
fraud, such as repair and credit hire, which has seen a 50% increase in value.
Detected motor application fraud has also risen by 17%, with a concerning
trend of criminals using commercial motor policies obtained through stealing
companies’ identities to enable them to commit crimes anonymously.
The perennial question remains: Is fraud genuinely increasing, or are we
simply improving our detection methods? Without a clear picture of the
level of undetected fraud, this remains an open question. Meanwhile, I’m
eager to engage with anyone who believes they have a credible approach to
identifying undetected fraud.
Mark
Mark Allen,
Assistant Director, Head of Fraud and Financial
Crime, Association of British Insurers (ABI)
MODERN INSURANCE | 41
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THE FRAUD BOARD
SYNERGIES FOR SUCCESS:
THE POWER OF
COUNTER-FRAUD
COLLABORATION
Cross-sector and cross-industry collaboration is crucial in
many areas, including counter-fraud strategies.
But first, let’s take a step back and consider a classic football debate:
Paul Scholes, Steven Gerrard, or Frank Lampard? Three top-tier
central midfielders, but only two spots on the England team. Each
brought unique strengths, yet successive managers struggled to fit
all three into the lineup, often forcing one into an ill-suited role. The
result? A weakened left midfield, compromising the entire team’s
performance.
Managing an insurance counter-fraud team isn’t so different. The key
is to blend the right mix of skills, capabilities, and technology—
a challenge that mirrors the decisions of a football manager. Today,
counter-fraud professionals are spoilt for choice with various
solutions to detect fraudulent activity or behaviour. However, this
abundance can lead to an ‘arms race’ - not just between insurers
and fraudsters, but also among insurers themselves. The fear is that
falling behind on technology will make you an easier target. Keeping
pace and ensuring you have the right players in the right positions is
critical.
One area often overlooked is how individual solutions can work
together as part of a cohesive fraud defense. Rather than relying on
isolated tools, a better approach is to foster collaboration between
your vendors, leveraging the synergies of their products.
Take image and document analytics as an example. Fraudulent
claims often involve manipulated images or documents, and common
detection methods include:
• Analysing metadata for consistency with the claim
• Identifying duplicate or previously used images
• Screening for images sourced from the internet
• Spotting pixel manipulation in images
• Detecting changes to PDF documents
While these techniques are all valid, they predict fraudulent behaviour
in different ways and can result in varying levels of false positives. This
is where vendor collaboration becomes powerful. By encouraging
your counter-fraud platform provider to integrate with a digital
media forensics provider, you can adopt a ‘best of breed’ approach.
Each detection method can be scored based on its predictability,
and when combined within an integrated fraud defense, you can
deploy resources where the highest chance of success lies. This also
strengthens the feedback loop with your vendors, improving future
detection capabilities.
When your vendors collaborate, you can choose the best solutions
without compromise, ensuring you won’t end up with Paul Scholes
out of position on the left wing.
Kaye Sydenham,
Product Owner - Anti-Fraud, Verisk
Martyn Griffiths,
Sales Manager UK&I, FRISS
LEVELLING UP:
A VISION FOR PEOPLE
AND PERFORMANCE
As HR Business Partner at NetWatch Global, I work closely
with the leadership team to enhance the workplace
experience, improve team performance, and increase
employee retention – all essential factors in delivering for our
clients every day.
In recent years, NetWatch has enriched the team’s experience with
retention boosting initiatives, including professional qualifications,
enhanced benefits packages and clear career pathways. Whilst we’re
a small business with big ideas, budget constraints mean we must be
strategic about which initiatives we pursue, ensuring they don’t put
undue strain on the business.
NetWatch recently integrated L&D analytics to gain insights into skill
sets and training needs through strategic investment in a psychometric
assessment tool. This tool evaluates our team’s potential for long-term
success, helping us hire top talent and support their development
effectively. Whilst we now leverage data science to determine our
training needs, we continue to depend on time-consuming and
resource-intensive traditional methods to address them. To that end, if
budget were no object, my vision for NetWatch would be to implement
a cutting-edge global learning platform, leveraging modern technology
including augmented reality and gamification techniques for training
delivery and client service.
Internally, this platform would elevate NetWatch as a great place
to work by offering state-of-the-art CPD opportunities, setting us
apart from competitors. The platform’s unique feature would be its
AI-powered personalised learning paths tailored to each colleague’s
role, goals, and skills gaps. Following an initial assessment, the
platform would curate a personalised curriculum of learning resources
to enhance existing skills and develop new competencies for both
professional development and improved company performance. Whilst
some materials would be traditional (such as accredited qualifications),
others would be delivered through engaging and immersive learning
experiences, with gamification playing a key role. Gamified elements
would introduce challenges, rewards, and progress tracking, making
learning more motivating and enjoyable – and encouraging some
friendly competition amongst colleagues!
From a client perspective, this platform would position NetWatch
as more innovative and future-focused, serving as a powerful tool
for client engagement and education. Clients could step into the
‘NetWatch Globe’ – a virtual environment where they can meet key
company figures without the need for time-consuming travel. Clients
could jump into interactive and engaging product demonstrations,
visualising how our solutions work in real-time scenarios. Additionally,
clients could participate in immersive virtual reality training sessions
alongside our analysts, gaining first-hand insight into our team’s
approach to online investigations. This deeper level of engagement
would enhance our clients’ understanding and strengthen their
confidence in our capabilities and expertise.
Whilst budget constraints may pose a challenge for now, we are
committed to doing everything possible to ensure that NetWatch
remains a fantastic place to work, grow and deliver exceptional
services.
Helen Wakeman,
HR Business Partner, NetWatch Global
MODERN INSURANCE | 43
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Specialist
Investigation
Services
Innovative solutions
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combat insurance fraud
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Our full suite of claims validation solutions includes
Fraud Keeper, our proprietary Automated Fraud
Detection software, our multi award winning social
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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
MIM68.indd 44
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THE FRAUD BOARD
IT AIN’T WHAT YOU
DO, IT’S THE WAY
THAT YOU DO IT…
“…and that’s what gets results.”
This line of an old song, first recorded in 1939
and sung by artists ranging from Ella Fitzgerald
to Bananarama, sums up the importance of
professionalism, standards and ethics in life. It
should also be a motto for the modern-day claims
sector.
In a digital, highly pressurised and increasingly automated
environment, how we go about our business is of supreme
importance to the quality of the results generated. Simply
following a process isn’t enough.
Incentivisation
It’s important to assess how individuals can be encouraged to
become the best claims investigator possible without driving
unwanted behaviours. For example, financial incentives may
make people over zealous, resulting in too many genuine
claims being turned down. Instead, focusing on training and
professional development enables individuals to improve their
skills, secure promotion and gain added responsibility, thus
resulting in improved pay and personal rewards.
If a company wants to offer financial incentives, aligning
bonuses to the overall performance of the business (and not to
the actions of a specific team or department) is a more effective
approach. It encourages and recognises behaviours that benefit
the business and its customers as a whole, promoting a positive
corporate culture.
Professionalism
Businesses must decide on the standards to which they
work and not migrate to the lowest common denominator.
For example, the Chartered Institute of Loss Adjusters has
a Code of Conduct to which its members must comply. This
differentiates chartered loss adjusters from others (such as
private investigators), and speaks to the ethics and impartiality
they’ve got to bring to their work in order to maintain their
accreditation.
Loss adjusters are there to ensure a fair settlement in respect
of the insurance contract in place, and this is why working to
the highest ethical, professional and technical standards is so
important. It’s the only way to drive the correct outcome for the
insured and insurer.
Service
Prioritising service metrics also helps drive positive, accurate
and professional outcomes for both parties. Have claims
investigators completed actions fully and quickly? Have they
been complete and robust in their information gathering and
questioning, while remaining impartial and respectful? Have
they been proactive in their listening, and analytical in their
reporting?
Around 50% of the claims labelled as potentially fraudulent
pass through to payment. The industry can’t demonise these
customers in the process if it wants to develop its reputation
and build long-term relationships. I’d like to see the market
reduce this figure and settle more
genuine claims without hindrance,
all while creating more time to
focus on actual fraud. This means
that we have to be mindful when
we go about our business, instead
of becoming careless and overly
process-driven.
Bobby Gracey,
Global Head of Counter Fraud,
Charles Taylor
SUBROGATING
FRAUD, AND THE
PERILS OF PROFITING
Tough times raise pressure on driving income
from claims processes to support beleaguered
loss ratios. Insurer buyer scale can push down
supplier rates, with the allowable use of retail
uplift delivering valuable additional claims
revenue.
However, new legislation introducing a corporate criminal
offence for failing to prevent fraud adds a fresh and
challenging complexity. And, unlike the failure to prevent
offences in the earlier Bribery and Criminal Finances Acts,
this one feels far closer to home.
When partnerships go wrong
Although fraud by claims suppliers does not happen often,
it isn’t unheard of. For example, imagine vehicle repairs are
completed, but with fabricated damage and unnecessary
repairs thrown in. Parts are billed that were not actually
used, or the parts used are cheaply sourced from the grey
market rather than being authentic recycled green parts.
Billed to the fault insurer, it’s simple supplier fraud to the
financial detriment of the victim insurer.
When profits become criminal
We’ve previously seen ‘failure to prevent’ corporate criminal
offences in the Bribery and Criminal Finances Acts, and
overall, general insurance has felt rather removed from these
legal risks.
The new Economic Crime and Corporate Transparency Act
(ECCTA), and particularly the corporate criminal offence
of ‘failure to prevent fraud’, feels far more likely to impact
us when we consider the components of the offence: a UK
nexus, a fraud offence by an associated person, a failure to
prevent, and, crucially, a requirement for a benefit to have
been received by the organisation.
We’d normally conclude that supplier fraud results in the
organisation being the victim, with the loss materialising
to that firm. But, with subrogation and retail uplift, we risk
entering a dangerous world where the victim can become
the beneficiary of fraud.
The risk of profiteering
Reconsider the supplier fraud above, with a £1,000 genuine
repair cost being fraudulently inflated to £2,000. When
billed to a non-fault insurer and then uplifted by, let’s say,
50% for subrogation, a £500 retail uplift on a genuine
£1,000 repair cost becomes £1,000 on the fraudulent £2,000
repair. A clear profit, and the victim benefits from fraud by
an associated person as a consequence.
Protecting trust
Failing to prevent such fraud - or worse, looking the other
way due to revenue or profit opportunity - looks like it
falls squarely within the Act. Fortunately, the adequate
procedures needed to protect organisations are nothing
more than good practice fraud risk management, which
we’re well attuned to delivering as insurers!
Authors Footnote: By the time
you read this article, we expect
that ECCTA Guidance will have
been issued. For insurers, this
has never felt more like critical
reading and a call to action.
Matt Gilham,
Director, Whitelk
MODERN INSURANCE | 45
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MIM68.indd 46
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THE FRAUD BOARD
SPOTLIGHT ON INTERNATIONAL
FRAUD AWARENESS WEEK:
NOVEMBER 17-23, 2024
International Fraud Awareness Week, running from 17th
to 23rd November, brings the world’s fraud fighting
community together. As fraudulent schemes continue to
evolve, we must remain vigilant and proactive in addressing
these threats.
Fraud is not just a financial crime—it disrupts entire industries,
impacts innocent consumers, and leads to higher costs for everyone.
Insurance fraud has broad consequences, driving up premiums for
legitimate customers and causing real harm to those defrauded.
Raising awareness of these risks is critical to curbing the growing
threat.
The insurance industry, operating in a global marketplace, faces
distinct challenges in combating fraud. Countries differ in their
regulatory frameworks, legal structures and cultural nuances, making
a one-size-fits-all approach ineffective. Learning from international
counterparts is key to creating a robust fraud prevention strategy.
Bobby Gracey, Group Head of Counter Fraud for Charles Taylor, has
over two decades of experience in global insurance markets. He
emphasizes the significance of understanding local dynamics when
combating international fraud:
“Having worked in global insurance markets for over 20 years, it is
fantastic that we come together as an industry to shine the strategic
spotlight on international insurance fraud. Learning from one country
to another is so important, because to be effective in global markets,
you need to fully understand what is locally on the ground in terms
of legislation, regulation, and especially local cultures and human
capital. Keep thinking locally, whilst behaving globally.”
International Fraud Awareness Week serves as a reminder that
fighting fraud requires cross industry collaboration, innovation, and
continuous education. By sharing best practices, we can enhance
fraud prevention efforts and better protect our customers. The
International Association of Special Investigation Units (IASIU) and its
members are deeply committed to the fight against insurance fraud.
Ami North, President of the International Fraud Investigators Group
(IFIG) and the UK Chapter of the International Association of Special
Investigation Units (IASIU), stresses the importance of collaboration:
“Identifying fraud is crucial to protecting our innocent customers
from harm caused by fraudsters. Fraudulent activity drives up
premiums for genuine customers across all sectors and can have a
significant impact on those who fall victim to fraudsters. During Fraud
Awareness Week, we, the Insurance Fraud Investigators Group, UK
Chapter for IASIU, will reaffirm our commitment to supporting our
industry through cross-sector and border collaboration.”
During this week, I encourage companies to raise awareness, engage
your teams, and reaffirm your commitment to combating fraud. By
collaborating both locally and internationally, we will ultimately create
a more secure and transparent marketplace for everyone.
Aimee Stidham,
Vice President, IASIU, and Manager – Special Investigations,
WCF Insurance
MODERNISING FRAUD
PREVENTION: LESSONS
FROM A LEADING UK INSURER
In today’s rapidly evolving insurance landscape,
adapting and innovating is crucial for success. A recent
transformation project by one of the UK’s top insurers offers
valuable insights for the industry on fraud prevention.
The Challenge: Balancing Innovation and Continuity
As part of a broader digital transformation initiative, the insurer faced the
complex task of upgrading their fraud detection capabilities whilst maintaining
operational effectiveness. The key challenge was in seamlessly transitioning
from a batch processing system to a real-time solution without compromising
fraud detection rates or disrupting daily operations.
The Solution: Parallel Implementation
The insurer adopted an innovative approach by running two systems; a Legacy
platform alongside a new ERT SIRA system in parallel, which uses data from a
syndicated cross-sector risk intelligence database, National SIRA. The existing
batch system remained operational, ensuring continuity. Simultaneously, a new
real-time system was built, integrated, and tested. This strategy allowed for
a smooth transition, minimising disruption and maintaining fraud detection
efficacy throughout the process.
Key Outcomes and Lessons
Enhanced Fraud Detection. The new real-time system caught between 80-90%
of fraud at the gate, including repeat offenders and fake identities.
Cost Savings. Reductions were seen across various areas, including aggregator
site fees, investigation costs, and administrative expenses.
Improved Efficiency. Adding Outcome Orchestration (a solution for fraud
decisioning) to the new system, they were able to automate and expedite
acceptance, decline, or blocking of applications – saving significant
investigative resources.
Holistic Fraud Prevention. The new system enabled fraud detection across the
entire customer lifecycle, from pre-inception to claims notification and beyond.
Data Integration. Leveraging historical data with real-time checks significantly
enhanced the ability to prevent fraud at the point of entry.
Takeaways for Insurers
Embrace Real-Time Solutions. Consider transitioning from batch processing to
real-time fraud checks for quicker, more effective prevention.
Prioritise Seamless Integration. Ensure new systems can integrate smoothly
with legacy systems, existing data and processes.
Focus on Lifecycle Fraud Prevention. Implement solutions that cover all stages
of the customer journey.
Leverage Automation. Utilise automatic decision-making capabilities to free up
valuable investigative resources.
By adopting these strategies, insurers can enhance their fraud prevention
capabilities, improve operational efficiency, and ultimately provide better
service to their customers. As the insurance landscape continues to evolve,
staying ahead in fraud prevention will be key to long-term success.
Richard Daley,
Business Development Manager, Synectics
MODERN INSURANCE | 47
MIM68.indd 47
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THE VELLA GROUP
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MIM68.indd 48
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THE FRAUD BOARD
THE VALUE IN
SUPPORTING
VULNERABLE
CUSTOMERS
‘Innocent until proven guilty’ is a principle set out in
the Human Rights Act 1988. Yet, within investigative
services, the focus is typically placed on finding
something that evidences the latter. While the truth
needs to be uncovered, the person central to the job –
along with their wellbeing and experience – shouldn’t
be minimised.
Imagine you had a vulnerable family member being
interrogated, protesting their innocence while simultaneously
feeling triggered. This is not an uncommon situation for our
team to find themselves in. Now think about how it’s dealt
with, the impact that this will have on your family member
and the outcome and reputation of the insurer. It’s fair to
conclude that there’s a lot on the line.
While there’s now Consumer Duty guidance in place
to address the treatment of customers in vulnerable
circumstances, the reality is that most organisations aren’t
equipped with the specialised skillset to properly care for
these customers. At RGI, we find that a cause for concern.
As a leading insurance investigation specialist with deep
and focused expertise in handling the needs of vulnerable
customers, we recognise the central role that tact, empathy
and patience should take in investigative services. This
isn’t new to us either; it’s how we’ve always done it. Our
flexible, non-threatening approach remains true to our
founding principles from over 30 years ago. Since then,
we have partnered with some of the biggest names in the
industry, most recently working alongside a leading fraud
investigations department that works exclusively with
vulnerable customers. They trust us to deliver on our values,
look after their customers and safeguard their reputation.
However, values alone don’t cut it. They must also be
matched with a specialised skillset and demonstrable
experience. That’s why we’ve grown an expert team of highly
trained, carefully selected specialists that are proficient
in de-escalation, safeguarding practices and disability
awareness. Their skills, insights and hard-won experience in
handling people mean that they apply real integrity with the
all-important human touch. We operate with a hand-picked
team of specially trained people, including ex-police, legal,
protection and fraud professionals. As such, our reputation
as specialists in handling vulnerable customers has become
a powerful asset that we’re proud of. And, with up to 50%
of individuals in the UK to be considered vulnerable at some
point in their lifetime, we’d argue that this approach should be
high on any insurer’s criteria when looking for a supplier.
THE
DATA KEY
How important is data, and how much focus should
we place on it? Whilst these are simple questions,
the answer is complicated - not least because of the
opposing forces we all face.
Described as ‘the new oil’, there’s no shortage of clichés
about the importance of data for any business. However,
deciding on the right data strategy is not easy.
When it comes to the volumes of data that we have and
create daily, the numbers are astonishing. As someone who
can remember computing memory measured in kilobytes,
the step change to megabyte and gigabyte, alongside the
concept of zettabyte and yottabyte, are incredible.
We are creating more data than ever before, so how we
choose to collect, use and process that data naturally has
a huge impact on our business. It spans everything from
customer service, people and financial management through
to compliance, fraud and best practice.
When Isaac Newton was creating his laws of motion,
he would not have realised that they might have been
considered applicable to the complex world of modern
insurance. However, make no mistake that in our data focused
world, his third law - ‘for every action, there is an equal and
opposite reaction’ - has never been so relevant.
On the one hand, we have the challenges of complex
legislation and regulation around data; the cost and
intricacies of technology and tools to help make sense of
data, along with the debt of legacy technology and disparate
systems. We also face pressures to deliver tools and systems
as quickly as possible, and the term Minimal Viable Product
(MVP) can often dilute the original intention. All of these
things create reasons not to collect data.
On the other hand, there are two very clear factors. Good
quality data can help us make the right decisions, quickly.
Secondly, customer attitudes towards data are changing
more quickly now than ever before. Yes, people still want to
know that their data is safe. However, people are increasingly
expecting businesses to use data in a safe and ethical way to
streamline processes and make our lives easier.
Our world is moving faster every day, and the devil really is in
the detail. Am I clear about the strategy I must adopt in order
to collect the right data for today and tomorrow? Do I then
have the control in my business to ensure that we follow that
approach in order to drive the right outcomes? Data, and the
ability to access and understand it, is the key to everything
- from selling more products to your customers through to
stopping fraud. Clichéd, yes, but indisputably true.
Anthony Byrne,
Operations Director, RGI Solutions
Ben Fletcher,
Head of Financial Crime,
LV= General Insurance
MODERN INSURANCE | 49
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Changing EV Attitudes:
Can the ABI GTA make
a difference?
James Roberts, Head of Insurance Sales at
Europcar, looks at whether the inclusion of electric
vehicle rates within the ABI GTA would be the
necessary push to shift insurer attitudes.
There’s no denying that recent months have seen an increase in demand
for electric vehicles (EVs) as individuals and businesses become more
zero emissions savvy. DVLA data for Q1 2024 (released July 2024)
showed that there were more than 1.1 million fully electric cars on UK
roads 1 . With other reports 2 suggesting that the number was over 1.2
million by August 2024, EVs are becoming an ever more important
factor for motor insurers when planning how to grow, service their
portfolio and manage claims costs.
However, a big barrier to this adoption has been the lack of a specific
EV category in the ABI GTA. Insurers and credit hire companies are
still in need of that important clarity to remove some of the uncertainty
on credit hire costs recovery. Given that the Government may be set
to put an outright ban on the sale of new petrol and diesel vehicles by
2030 (albeit allowing hybrids to remain on sale for a further five years),
insurers need to get to grips with the EV landscape rapidly to support
motorists.
Having a specific EV category within the ABI GTA would provide much
needed transparency when supporting EV drivers. It would help to
remove claims friction and unnecessary litigation, and would also enable
credit hire companies to more accurately forecast the profitability of
credit hire claims when the customer drives an EV.
To ensure continuity of service in line with Consumer Duty requirements –
irrespective of whether a hire is being provided as ‘credit’ or ‘direct hire’
– partnering with a rental provider with a strong national network and
comprehensive fleet, including electric, makes sense. Insurers will also want
to find a replacement vehicle partner that can ring-fence a specific vehicle
fleet for them, ensuring uninterrupted supply and the guarantee of an EV.
A rental partner that understands the specific needs of the insurance sector
can help to manage the end-to-end mobility requirement.
A Maturing Market
A sign of the EV insurance market’s maturity is the discussion around the
possible inclusion within the GTA Vehicle and Rates Tariff. EV inclusion
would increase transparency for credit hire companies, while improving
insurers’ ability to settle claims. It could also mean that more EV drivers get
like-for-like replacement vehicles, because there will be more confidence
amongst credit hire organisations in the recoverability of a claim.
There’s no doubt that the time is now for insurers to futureproof their
business and supply chain. Those insurers preparing too late will find
themselves at a competitive disadvantage and could lose a significant
share of the market as EV usage climbs even further.
At Europcar, we have tailored our solutions for the insurance sector and
are working hard to provide insurers with replacement vehicle solutions that
are fit for purpose for an electric future.
Spotlight on Supply Chain
While the industry waits for this direction from the ABI, insurers should
be reviewing their own supply chain to determine how fit for purpose it
is to respond to the more diverse electric vehicle parc. A recent study of
insurance industry professionals in the claims space, commissioned by
Europcar, highlighted just how important this issue is. When asked what
factors would have the biggest influence on the replacement vehicle
market over the next five years, the rise of EVs was quoted by almost
three quarters of respondents (74%) – with one noting that whilst they
were very much a feature of our roads now, this is nothing compared to
what the landscape might look like in 2029. Many fear the insurance
supply chain will not be able to keep up with that upwards trend.
EVs are more likely to be provided in non-fault claims or with a policy
guarantee. In other circumstances – perhaps where a bodyshop is
asked to supply a courtesy car – this is unlikely to be an EV, potentially
impacting the claims journey and customer experience. Our insurer
survey revealed that 42% admitted they only offer a limited selection of
EV options for claimants driving EVs today. In addition, more than a third
(37%) noted the biggest challenge faced when providing this option was
often related to limited availability from the replacement vehicle supply
chain.
James Roberts,
Head of Insurance Sales,
Europcar Mobility Group UK
1
https://www.gov.uk/government/statistics/vehicle-licensingstatistics-january-to-march-2024/vehicle-licensing-statistics-january-tomarch-2024#headline-figures
2
https://www.zap-map.com/ev-stats/ev-market
MODERN INSURANCE | 51
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MIM68.indd 52
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At the recent annual conference of the Vehicle Recyclers’ Association
(VRA), we were all introduced to a new and incredibly comprehensive
piece of research into the carbon emissions savings from the use of
‘green’ parts. The significance of this piece of work should not be
underestimated.
The whole Total Loss claims sector
now has a new, robust, and freely
available measure of carbon savings
across the top 61 parts being
used in the accident repair and
mechanical sectors. From
engines to doors, bumpers
to steering units, this
VRA-commissioned work
sets a new standard of
measurement that every
player in the sector can
use.
Insurers, repairers, parts
buyers, garages, and
anyone else interested
in this area can refer to
the new measures. Most
importantly, we will all be
speaking the same language
now. The days of proprietary
systems that are somewhat
opaque in their methodologies and
only available to a privileged few are
well and truly over. In establishing a
level playing field, the VRA has done
the whole industry a huge favour, and
they are to be congratulated for their
effort.
New Rules, New Systems
Nevertheless, whilst demand is
growing and the VRA research is
incredibly helpful, we must admit that
the real-time penetration of green
parts is still pretty limited.
At that same conference, a leading
insurer reported that they had used
only 4,000 such parts across the
whole of their repair portfolio in
the preceding year. This is certainly
welcome, but it seems to be a very
small number when compared to
their overall needs. As an industry
sector, we need to ‘step up to the
plate’ if we are to exploit the leverage
that the VRA report and other
initiatives gives us.
Specifically, buyers of green parts and
those with influence over buyers, such as
the insurance sector, need easy access
to green parts stock - plus consistent
pricing, delivery, and quality. All of
this needs to be bundled into modern
systems of control and reporting that
are equivalent to those used by the
OE and non-OE sectors. If green parts
are to compete fully with alternative
options, then buyers need similar and
complimentary systems to make their
lives easier.
We all know of current initiatives in the
marketplace, and those operators are
to be commended for their efforts. But
technology does not yet keep pace with
the underlying needs of our markets, and
we must all strive to deliver a new breed
of system that is easy to adopt and
integrate with existing work practices.
Collaboration and Co-operation
Here at e2e, we are fully committed
to delivering such a system into
the market for use by our clients
(watch this space). However, it
does occur to us that some of
the technical and logistical
challenges to be overcome
might be better resolved
by a collective industry
effort to collaborate and
move forward. We all
want to compete and
succeed, but sometimes
it is worth a degree of cooperation
to fully exploit
an opportunity.
We will continue to work
closely with the VRA,
Thatcham Research, and other
institutions to help deliver a
great future for the green parts
sector. In the meantime, we urge
insurers and other players to come
to the table and talk to us about
how we (and others) can meet
your needs, fully exploiting the
opportunities available to us all.
Mia Constable,
Head of Business Development,
e2e Total Loss Claims Management
MODERN INSURANCE | 53
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MIM68.indd 54
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IT’S TOUGH
AT THE TOP
At the time of writing, the new Labour government is due to present a budget that is
widely expected to be tough, expensive (for some) and full of ‘difficult choices’ that few
will welcome. Without commenting one way or another on the merits of the budget, it
does prompt me to ask a question. Isn’t making ‘difficult choices’ what life is all about?
There may be some days in my chequered past
when times have been easy, every choice has
been a path of pleasure and enjoyment, and the
outcomes have been amazing. But so few and
far between are such times that I can’t actually
remember any of them!
Instead, it seems to me that one of the roles of
leaders and senior managers is to constantly
make those difficult choices and hope that we
have chosen correctly. There are those who shy
away from such responsibilities and, truth be
known, they are probably ill-suited to positions of
authority. But many of us are constantly required
to face up to the simple fact that our working
lives are full of ‘difficult choices’, and we pray that
we make the right ones.
What Do We Really, Really Want?
I’ll tell you what I want (thank you, Spice Girls)…
The world of claims and supply chain (where I
ply my trade) seems to sit at the crossroads of
difficult choices to be made; namely the extent
to which we will be designing and implementing
Artificial Intelligence (AI) to make some of those
choices for us.
Using technology to help in the claims process
is nothing new, and various iterations of AI
have been around for decades. However, it is
absolutely true that generative AI has given us
options that we previously never knew existed,
and amazing new applications appear daily to
tempt us into this strange world of machine
learning and large language models. All of this
is good news.
Decisions, Decisions
If there are better ways of delivering the services
that our customers rightly expect of us, then why
wouldn’t we rush to adopt them? Moreover, if we
don’t do it, someone else will. Competitors may
gain an advantage if we are not first (or a close
second!) in the queue.
Herein lies the dilemma. AI, and all its bedfellows
of automation and algorithmic mystery, are not
intrinsically good or bad. Instead, they are simply
a means to an end, and it is our responsibility as
leaders to make those difficult choices as to what
the ends might be.
Sometimes, a difficult choice in life and business
lies in not doing something, choosing instead
to wait, watch, ponder, and slow the pace of
progress. Not to stand in the way, but to make
absolutely sure that the difficult choices before
us are the appropriate choices, and the decisions
made are based on full consideration of all the
elements.
Eddie Longworth,
Director, JEL Consulting
Claims and Supply Chain Development
MODERN INSURANCE | 55
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28 November 2024
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ILC
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MIM68.indd 56
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STANDING OUT
FROM THE CROWD
In an increasingly competitive
market, with consumers
continuing to feel the pinch of
a cost-of-living crisis that shows
little sign of abating, insurers are
having to work harder than ever
to attract and retain customers.
Price remains the number one factor for many
policyholders, but with business and claims costs rising
across all business lines, many insurers have no wriggle
room.
According to the Association of British Insurers, property
pay-outs reached £1.4bn in the second quarter of the
year, while average motor claim payouts increased by
8% in the first quarter, costing carriers £1.14 for every £1
collected in premiums.
Faced with such challenges, insurers and supply
chains need to look beyond price when it comes to
differentiating themselves.
TECHNOLOGY
Leveraging new technologies can be the most obvious
route to delivering a unique offering. According to
an industry survey carried out by Pulse last year,
86% of respondents have now committed to a digital
transformation strategy, with efficiency and customer
service driving this focus.
Technology certainly has the potential to achieve
efficiencies in the claims journey and help meet rising
customer expectations - identifying and automating
‘simpler’ claims whilst ensuring more complex claims
are directed to handlers based on skillsets, priority and
complexity.
However, with so much innovation flooding the market,
where to invest resources is not always obvious. This is
where technology partnerships can prove invaluable,
providing clarity around the specific problems you want
technology to solve. Often, the best solutions might
involve a combination of technologies, as well as other
resources.
HUMAN TOUCH
Apart from finding the right tech, using it effectively
alongside human expertise can also separate a business.
Too many see this as an either/or debate, but good tech
is useless without good people, and vice versa. The FCA’s
Consumer Duty is also helping to ensure that customers
are provided with the right option to best suit their
requirements.
“You can’t have one without the other,” Crescens
George, CEO of Wiser Academy, stated at a previous ILC
event. “Technology is good at the mundane processes,
but insurance is often an emotional experience, and
technology won’t be able to provide that level of
interaction. It works best when it augments what humans
do, because there will always be times when humans add
more value.”
Clearspeed’s Manjit Rana agreed, saying, “Technology
can replace so many jobs, but the jobs it can’t replace
are those that require human to human interaction and
human empathy. Insurance relies on those roles, so
investment in technology and people should go hand in
hand. We need to equip the right people with the right
knowledge, skills and behaviours.”
RETENTION
Often, organisational culture is the ultimate decider
in all of this. Whether it be implementing technology,
upskilling people or ensuring the right balance between
the two – the customer must be front and centre within
the insurance claims sector. Central to this is a belief that
customer service starts from the inside out, so ensuring
your own people are happy is key.
According to the Founder of Engage to Succeed, James
Lambert – who supported ILC’s New Generation in Claims
event last year – a fifth of employees are disengaged,
leading to a 21% fall in productivity. He said, “The cost
of disengaged employees is obvious to any business.
You need to humanise everything you’re doing from
recruitment to engagement, and put individualisation
over organisation.” This suggests that putting a greater
focus on job satisfaction will increase staff retention as
well as improving customer outcomes in the long-term.
MODERN INSURANCE | 57
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Embracing Tech:
How technology is
shaping the insurance
user experience
The concept of insurance and eliminating risk is
as old as human existence, yet our mature and
saturated market has shaken off its slow-moving
reputation to embrace technical transformation
and adaption to this modern digital world.
Tech-enabled insurers are reimagining value
propositions to introduce intuitive digital processes
that meet the rising expectations of tech-savvy
customers, and they bear little resemblance to the
old days of paper documents, manual data entry and
risk analysis by spreadsheet.
We’re all playing our part in shaping this new
customer-centric landscape by pushing the
boundaries of emerging technologies, self-serve
solutions, robotics, analytics and customer choice,
and it’s driving change at the very core of insurance
operating models.
Here at FMG we have invested heavily in
developing a fully digital solution which brings
customer centricity to life, making the claims
management process as simple as possible for
policyholders. We’ve created choice in how they
interact with us at any stage of their claim, with
the option of a fully digital experience or to speak
to a real person.
Behind the scenes, our carefully planned digital
innovations are driving cost efficiencies and
performance gains, providing greater insight and
transparency around the progress of claims and
claims data.
Report claims online
Mobile phones have become our essential daily
companions, and now policyholders can report
motor claims anytime, anywhere, from any device
using FMG ENOL, our self-serve mobile platform.
This simple and friendly webpage makes reporting a
claim easier and faster than ever, with every claim
accurately triaged and next-step workflows triggered
accordingly, regardless of electronic or traditional
telephone notification, it’s all about individual
preference.
Keeping policyholders informed
Enabling policyholders to track progress at every
step of the repair process is essential and we’ve
made that even easier too. FMG Connect, our
self-serve app gives policyholders access to our
claims management services.
We put policyholders in control with FMG Connect,
with the options to add details to their claim,
schedule their own vehicle repair with our selected
garage, arrange a hire vehicle and monitor the
real-time progress of their vehicle repair, via an
interactive interface.
The telephone is still an option for those who wish
to speak to a real person. Policyholders can engage
with us in precisely the way they choose.
marketing1@fmg.co.uk
0344 243 8888
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Transparency for insurers too
Our insurer portal provides insurance claims
executives or brokers with full visibility of their claims
data. Interactive and personalised interfaces provide
images, reports and repair progress, including all
costs, images, VOR and Total Loss.
Data sharing
This transformed market is driven by the need for
efficiency in the way data is captured, processed,
stored and shared. The benefits are clear and here at
FMG we’ve opted to invest in data sharing.
By integrating directly into insurer’s and third party
management systems, we’ve increased the speed,
accuracy and efficiency of claims notification, repair
allocation, management of hire vehicles and data
sharing. Better still, these integrations reduce
exposure, operating costs and cost leakage. The result
is a more seamless customer journey.
“the introduction of
intelligent robotics has
increased productivity,
lean efficiency and
accuracy”
Intelligent robotics
Like us, many insurers have introduced robotics to
automate repetitive processes, and this is where
performance gains are created. Within our claims
management system at FMG, the introduction of
intelligent robotics has increased productivity, lean
efficiency and accuracy.
These automations allow for higher quality
touchpoints with customers by releasing the highly
skilled human element that technology can’t
replicate, to focus upon the elements that require
cognitive skills – empathising, asking policyholders
the right questions and negotiating on their behalf.
The result is a positive effect on colleague
engagement and retention.
Evolution and new tech trends are reshaping the
insurance industry and transforming the way we
interact with policyholders. Here at FMG we’ll
continue investing in new technology to enhance
our existing systems whilst simplifying the user
experience.
We’ll continue to carefully strike the right balance
between driving more routine claims through
automated and self serve systems and the
compelling need to maintain human contact to
bolster the customer experience in the moments
that matter most.
www.fmg.co.uk
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MIM68.indd 60
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minutes with...
John Gibson
Title: Client Relationship Director (UK), Kennedys
What is your most memorable career achievement?
Q
A
The standout moment over the last 20 something years
was being made an owning partner of my previous firm
in 2016.
I was only 34 at the time, and whilst I didn’t possess the life skills
and experience I have today, I had been delivering year-on-year
to that point. Before present day, I believe I was in the best form
of my career. I had led our credit hire division to be definitively
market leading, as well as being key to the firm’s client account
management and market-facing structure. I’d truly put my heart
and soul into the business, and played. It was the culmination of
years of hard work.
I vividly remember the day I found out. I took a call in our Bolton
office on a Friday afternoon from our then CEO to tell me that
the owners wanted to make me a shareholder in the business.
This was a life changing moment for me, and the sense of
achievement was huge.
What made it more memorable was that my Dad was sadly
very ill at the time; the firm had already been really supportive
of me being a significant part of his care. My CEO said they
would usually be coming to me in a couple of months’ time,
but knowing my Dad’s condition he wanted to give me the
opportunity to tell him the news, which I am incredibly grateful
for. It was special on so many levels.
What has been the most valuable piece of advice
you’ve received throughout the course of your career?
Q
There’s two. Firstly, some great sales advice came from
a very successful Global CEO. I asked him for one piece
Aof career advice, he said; only have three focused sales
targets at one time, and crucially, they must be practical in
application. He works them hard to progress to conclusion, and if
something becomes a non-starter, he gets rid of it quick. He sets
the same discipline for his reports. This advice has been of huge
benefit in my current role.
Secondly, from an old boss and good friend: “be John Gibson
from Blackpool and don’t change for anyone!” I have become far
more comfortable with who I am over the years; my height, my
accent, my humour, what I do well, what I need to delegate, my
flaws. I have a brand that works well, so why not embrace it?
What has been the key positive and/or negative impact
of change in your area of the market?
Q
Change is constant in our market. From the perspective
of being client and market facing, I see change of any sort
Aas creating opportunity – you only need the mentality
to embrace it. As long as I can lead my team to deal with the
change better than my competitors, spot what will help our
clients and affect the elements within our control, we will do well.
I also continue to come back to flexible working, a widespread
change we’ve seen in recent years. How do we best represent
our brand, support our people (technically and culturally), and
encourage side-by-side learning? At the same time, we must
appreciate that this is the world now, and it has significant
benefits for families, recruitment and employee wellbeing.
If you were not in your current position, what would
you like to be doing?
Q
I’d love to focus more on the charity and volunteer work
I have the privilege to be involved with.
A
I’m off to the Ukraine again in November with John Green,
Gary Mason, and a mixture of new and familiar faces. It’s hugely
rewarding and important to make a difference in some small
way if I can. Seeing children impacted by war has changed my
outlook on life in a number of ways.
I will also do more with men’s mental health, suicide prevention,
and the mental health impact on young male adults. I am getting
involved in projects at Kennedys about the subject, and I will do
that at an appropriate time.
What three items would you put on display in a
museum of your life, and why?
Q
A picture of me and my son walking and holding hands,
which sums up my love for him perfectly.
A
A framed Blackpool shirt, because I am absolutely passionate
about the club and the town.
A letter of thanks from a Ukrainian orphanage; it keeps me
humble and grateful.
What three guests would you invite to a dinner party?
Q
Willie Mullins, Michael Jordan and Tiger Woods!
A
John Gibson,
Client Relationship Director (UK), Kennedys
MODERN INSURANCE | 61
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INSUR.
TECH.
TALK
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INSURTECH
WELCOME
Greetings, and welcome
to Insur.Tech.Talk!
This issue of Insur.Tech.Talk was curated in September, which is also ‘Life
Insurance Awareness Month’. As such, it would be remiss of me not to
have a special focus on Life & Health (L&H). So, sit back with a warm
cup of something healthy and enjoy reading these key insights from my
illustrious panel.
The brilliant Kartik Sakthivel PhD, Vice President and Chief Information
Officer at LIMRA and LOMA, takes us on a deep dive into the
transformative potential of Artificial Intelligence (AI) in the life insurance
industry, and even to us all as a species. He also shares key insights from
LIMRA’S Annual Conference which recently took place in Nashville.
I also conducted a combined interview with two global leaders in L&H
and sustainability: Melissa Leitner, Head of Life & Health Sustainability,
Swiss Re, and Lorcán Hall, Senior Advisor for the UN’s Sustainable
Development Solutions Network (SDSN). We explored the links between
L&H propositions and sustainable development with their combined work
for the SDSN.
I am particularly grateful to Eduardo della Maggiora, Founder and CEO
of Betterfly, for taking time out of his very busy schedule running Latin
America’s first social unicorn while simultaneously training for the
Ironman World Championship in Kona, Hawaii. Eduardo shares his own
health journey, one which inspired and informed his vision for Betterfly
as it relates to combining insurance, wellbeing and purpose to motivate
policyholders in their journey to lead healthier and happier lives.
Megan
Happy reading!
Megan Kuczynski,
President,
Insurtech Insights
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Betterfly
QEduardo, your background is so inspiring! I enjoyed
learning about your own health journey and how it
became the catalyst for starting Betterfly, the first
social unicorn in Latin America. Can you share your vision
for Betterfly, especially as it relates to combining insurance,
wellbeing, and purpose to inspire lifestyle changes?
AThank you, Megan! It’s been an incredible journey—from
Wall Street, to Africa, to founding Betterfly.
At Betterfly, our mission is to empower people to live their
best lives by combining protection, prevention, and purpose.
Our approach empowers employees to build lasting healthy
habits while offering financial security and opportunities
to make a difference in the world. We integrate insurance
products with gamified wellbeing services, charitable giving,
and rewards.
Our platform merges group life and health insurance,
wellbeing benefits and social donations into a gamified, AIdriven
experience. Primarily offered to employers, it enables
employees to develop healthy habits, earn rewards, and
contribute to social causes. By transforming insurance into
a personalized, purpose-driven journey, we help people lead
healthier, more fulfilling lives.
QYou often speak of the ‘power of purpose’. Can you
explain more about social impact, and how a sense of
altruism can enhance one’s wellness?
AI believe the secret of living is giving, and this sentiment
has been a core driver of our company, culture and
mission at Betterfly. Back in 2018, we did our first
MVP where the goal was to get people active and healthy by
giving back. We did this by converting calories of exercise into
calories of food for children in need in Haiti. We organically
reached 50,000 people over 30 days, who burned 75 million
calories in total. This meant that we were able to provide 1,000
meal programs — our first demonstration of the power of
purpose.
With an evolved product, we can now see how this same
purpose acts as a fundamental driver in boosting wellbeing
when combined with a personalized and gamified experience,
like the one we offer at Betterfly. We talk about our ‘Betterfly
Effect’, where small habits create waves of positive change.
This change touches all areas—physical, mental, social, as well
as through relationships with others, the community, and the
environment.
So, how does Betterfly generate social impact? By subscribing
to our platform and choosing insurance coverage, every user
earns ‘Betterflies’, our virtual currency. This allows users to
redeem rewards and make charitable donations to different
causes, such as donations for clean water, meals to combat
malnutrition, or trees planted in deforested regions.
QThere are exciting new trends to engage the
policyholder in L&H, encouraging them to take greater
responsibility for their health. Can you explain more
around how Betterfly engages the individual in this way, and
let us know why gamification is so important?
ATraditionally, insurance has been reactive, focusing
on death and disease rather than life and preventive
health. At Betterfly, we’re leading a paradigm shift by
promoting preventive lifestyles through personalized, gamified
experiences. Using Artificial Intelligence (AI), we proactively
encourage health and wellbeing by rewarding healthy
behaviors instead of penalizing unhealthy ones.
Betterfly partners with insurers to offer a B2B2C solution that
provides personalized group life and health insurance for both
employers and employees. Our gamified platform encourages
healthy habits through challenges, rewards, and social
interactions, which improves employee wellbeing and reduces
claims for employers, boosting productivity. By continuously
evaluating user behavior through dynamic risk assessment
and underwriting, we can predict claims and offer sustainable,
personalized insurance options. This benefits both insurers
and employees, positioning insurance as a positive force for
promoting healthier, happier lives.
Gamification is crucial because humans are naturally
motivated by challenges, rewards, and achievements. At
Betterfly, we integrate game mechanics with AI to make
healthy living engaging and rewarding. Users track habits,
earn points, complete missions, unlock levels, and participate
in group challenges. The more engaged they are, the healthier
they become, unlocking rewards like insurance premium
discounts, gift cards, and donations to charitable causes.
QSo, what are Betterfly’s expansion plans in the US?
ABetterfly is currently present in nine countries across
Latin America and Europe, including Argentina, Brazil,
Chile, Colombia, Costa Rica, Ecuador, Mexico, Peru, and
Spain. But the US has been a key target market for us from the
very beginning! With our headquarters now in Miami, we are
focusing on growth in our current regions while refining our
platform for entry into the US market.
The US presents a unique opportunity due to rising healthcare
costs and the chronic disease crisis, which continues to
strain both employers and insurers. More than ever, there
is a growing need for solutions that actively prevent these
challenges, and our platform’s focus on improving wellbeing,
promoting preventive lifestyles and lowering insurance costs
through encouraging healthy behaviors is particularly aligned
with these needs.
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We’ve seen significant interest from US employers and
insurance partners who recognize the value of our model.
By integrating group life and health insurance with gamified
wellbeing services and charitable giving, Betterfly provides a
sustainable, scalable solution to improve employee health and
reduce claims. As part of our global expansion strategy, we are
confident that the US will be a major market for Betterfly, with
the potential to help transform the insurance landscape by
offering a proactive, purpose-driven approach to health and
wellness.
This will also form part of a broader global strategy that
includes further growth in Europe, as we continue to refine
and enhance our platform to meet the unique needs of each
market we enter.
QOn a personal note, how is the training going for the
Ironman World Championship in Kona, Hawaii?
ATraining is going really well! I’m enjoying the process
and really focusing on the discipline and daily effort
needed to reach the finish line. Balancing training with
work and family has taught me a lot about time management
and prioritizing what matters most!
It’s also a great opportunity to put into action what Betterfly
is all about—building resilience, embracing challenges, and
taking small steps toward big goals. Ironman is not just
about physical endurance; it’s a mental game, much like
entrepreneurship, where you’re constantly pushing limits and
facing new challenges.
Eduardo della Maggiora is a Chilean engineer, triathlete, and
entrepreneur, best known as the Founder and CEO of Betterfly — a
leading Insurtech company that became Latin America’s first social
unicorn in 2022. He is also an Endeavor Entrepreneur, a YPO member,
and serves on the Board of Teletón, a nonprofit supporting children
with developmental disabilities in Chile.
Eduardo began his career after graduating as an industrial engineer
in 2004, working in J.P. Morgan’s M&A department. In 2014, he
shifted gears to volunteer in Moshi, Tanzania, teaching English and
Mathematics to primary school students. He later founded Tyndall
Group, a Chilean M&A advisory firm, and Preserve in Community, a
crowdfunding app for forest preservation. He also served as CEO
of the Santiago 2023 Pan American Games, the second largest
international multi-sport event after the Olympics.
A dedicated athlete, Eduardo has represented Chile at the Ironman
World Championships six times, finishing as a two-time runner-up
in his age group at the Ironman 70.3 World Championships. He has
twice completed the Ironman World Championships in Hawaii and is
currently preparing for his next run in 2024.
Eduardo’s achievements have earned him recognition as one of Latin
America’s most influential leaders. He was named Entrepreneur of the
Year by Ernst & Young Chile in 2022, and was included in Bloomberg’s
list of the 500 Most Influential People in Latin America in both 2021
and 2022. In 2023, ‘CEOs Change Makers’ recognized him as one of
the Top 10 Innovative Founders and Executives in Latin America.
Eduardo currently resides in Miami, Florida with his wife and three
children, Mia, Max, and Emilia.
For me, this journey reflects the ‘Betterfly Effect’, where small,
consistent actions create meaningful change. It’s a reminder
that wellbeing is about giving your best effort every day, and
that aligns with what we’re trying to inspire. I’m excited to
keep moving forward and see what this experience brings!
Eduardo della Maggiora,
Founder & CEO, Betterfly
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LIMRA
QKartik, it was great to collaborate recently on the
webinar ‘Data Readiness for AI: Latest LIMRA and
Equisoft Revealed’, with yourself and Mike Allee,
President of Universal Conversion Technologies, as my
esteemed panelists.
In this session, you mentioned that AI has been part of the
corporate lexicon for the insurance industry for a while
now, but it is the GenAI revolution which began to capture
hearts and minds. You cite two reasons for this; the first
being around price of entry, that GenAI has democratized
AI, making it very natural for the average person to use.
Secondly, you mentioned that GenAI usage easily crosses
over from our professional and personal lives, and I was
intrigued by something you said as part of that: “AI has
the potential to transform us as a species”.
Can you expand more on this idea?
AAbsolutely! I fundamentally believe in AI’s
transformative potential. It’s easy for us – rightfully
and understandably so – to focus on the here and
now. As we’re just entering the ‘Age of AI’, it’s tempting to
focus on our industry landscape and how the era of AI’s
increasing ubiquity is going to impact us and our firms.
Case in point, the raw materials for everything that we
have around us today have always existed on this planet.
It took thousands of years of human ingenuity to create all
the things we have. Google’s DeepMind AI surfaced 2.2M
hypothetical new raw materials in less than a year. Around
800 of these are in active development by another AI
system today. The cure to cancer is in there somewhere,
the answer to unlimited renewable energy is in there
somewhere, as are the clues on how to combat the climate
crisis. The first new antibiotic discovered in over 60 years
was discovered by an MIT AI system late last year. This is
what I mean when I say that AI is a seminal moment for
us, not only as an industry, but also as a species. Unlike
every other technology that has come before it, technology
required human direction to result in a desired outcome.
On the other hand, AI is the first technology that requires
human assistance to get started, but once it does, it has the
capability to learn on its own – for good or for bad. We’ve
never had that happen before.
Q“In order to be AI ready, companies first need to be
data ready.”
This was also a big theme of our webinar. Can you explain
the concept more for our readers?
AData is the bedrock of all AI, and you cannot have
great AI with bad data. Any AI is trained with
massive amounts of data, and if poor data seeps into
these AI systems, it can have unintended consequences and
incorrect results. This will erode trust in AI’s output.
Moreover, our industry has not been treating data very well
going back several years. We’ve had a tendency to think
of data as a by-product of our systems as opposed to a
product that needs to be treated with the appropriate rigor
and discipline. Most data strategy and governance programs
in our industry can meander, and executives tend to shy away
from ongoing investment in these programs when they can
seem esoteric and possess an uncertain outcome. To eat our
‘AI desserts’, we must finish our ‘data vegetables’. The quality,
availability, security, protection, and privacy of data assets
within a firm have to be at the core of every AI program.
QOne exciting statistic that I noted from the LIMRA +
Equisoft research was that 78% of the companies
surveyed expressed that Data Readiness (availability,
quality, and so on) is the biggest challenge they face when
it comes to getting value from AI. Can you share some other
headlines from the study for our readers?
AThe predicate behind this global study is that while
we, as an industry, are focused on achieving sustained
success with AI at scale, we really need to get our ‘data
house’ in order. I have been characterizing this in the way that I
mentioned earlier: we need to eat our ‘data vegetables’ before
we can eat our ‘AI dessert’. We have been treating data as a
by-product of our systems rather than a product in its own
right. Data quality, availability, reliability, genealogy, efficacy,
and security are generally inadequate at best, and suspect at
worst. You cannot have good AI with bad data.
With this study – one that was intentionally not an
academic exercise – we intended to develop a framework
for organizations to be able to benchmark their state of
data readiness for AI, with firms in their region plotted on a
maturity model. One of the biggest takeaways is that roughly
half of those surveyed expressed a view that they do not
believe their enterprise data is ready for AI. Meanwhile, the
other half is likely to be looking at very specific use cases
within their span of control, and not at an enterprise level. As
such, I urge companies to get in touch with us so that we can
help them assess where they are today before helping them
on their journey towards where they want to be tomorrow.
QSeptember was Life Insurance Month. Can you share
some thoughts on what’s impacting life insurance
ownership in 2024, and the vital role that life
insurance plays in protecting families’ financial
security?
AWhether it’s AI or any other technology, it’s important
for us to keep why we do what we do at the front of
our mind. We don’t manufacture widgets. Regardless
of where you serve in the industry – whether you’re an IT
developer, configuring a firewall, underwriting policies, or
coming up with marketing strategies – each of us, regardless
of where you are in the world, is contributing to providing
financial protection for our fellow citizens. What could be
more empowering than that?
According to the LIMRA and Life Happens 2024 Barometer
study, about 100M Americans are uninsured or underinsured.
It is our obligation as an industry to use every tool at our
disposal to protect as many of our fellow citizens as possible.
This is the promise of our industry, and it should be incredibly
empowering regardless of where in the value chain, or where
in the world, you serve.
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QThe LIMRA LOMA Annual Conference just wrapped in
Nashville, with a theme of ‘Innovation with Purpose’. Can
you share some reflections and takeaways from this
year’s conference?
AWe seem to be continually raising the bar on delivering
unmatched value to senior executives across the industry
at each annual LIMRA Conference. There were some
exceptionally insightful speakers this year who enriched the
audience with their depth of knowledge, and I continually refer
back to the tagline of this year’s event when I speak about
innovating with purpose. AI and technology cannot and should not
exist in a vacuum. Innovation and experimentation are vital, but
they need to be tied to business purpose and creation of value. We
must create a fail-tolerant culture within our industry. Not all our
bets will pay off, and not all experiments will yield success – that’s
okay! Instead of castigating failures, we need to celebrate them and
learn from them. Fail fast, but learn faster.
QHuge congratulations on your recent ORBIE award, an
honor well-deserved!
The prestigious ORBIE award recognizes excellence in
technology leadership. What did this award mean to you, and
why?
AThank you! I was a finalist in 2022, so to be nominated again
this year, and to win, has been very surreal. I am deeply
grateful for it. This recognition belongs to each and every
person on our amazing IT team at LIMRA and LOMA who work
tirelessly to deliver unmatched value to our business partners and
our members across 81 countries. They inspire me every single
day, and it means a lot to me because it recognizes them and their
contributions.
Not only do I have the greatest team, but I also enjoy the company
of the best business partners. My peers, every associate at LIMRA
and LOMA, our ecosystem partners, our members, and the
hundreds upon hundreds of friends across the industry, globally
– this is a recognition of our collaborative work. No matter what
role and position you serve, each of us deserve to have the best
leaders. Individuals who inspire you, motivate you, coach you,
and truly allow you to be the best version of yourself. They do
so selflessly, and only hope that their leadership inspires you to
be a better leader yourself. I could not have attained a modicum
of the opportunities that have been fostered for me without the
exemplary leadership of our COO, Gina Birchall, and our CEO, David
Levenson. It is a privilege to be able to do what I am able to do in
the company of such exceptional people.
QYou and I first became friends over LinkedIn, and I am
always struck by how supportive you are of others in our
industry with your uplifting posts!
Recently, you wrote, “Of all the achievements you will have this
week, perhaps the greatest accomplishment of them all could
be making at least one person feel seen, heard, and supported”.
What is the motivation for this type of writing? I know I speak
for others when I say that sometimes, this is just what we need to
hear!
AThank you, Megan, that is very kind of you!
The world can feel like a dark and cynical place at times, and
it’s easy to get caught up in this cynicism. In the grand scheme of
things, however, we are all here for a fleeting moment, and we have
the opportunity in that fleeting moment to make a lasting impact
on others. If we cannot make a lasting impact on others, we each
have the opportunity to improve someone’s day for at least a little
while. Breaking out of the monotony or cynicism is well worth it.
Most organizations have creeds that are grounded in respect and
kindness. Imagine if each of us embodied these creeds in every
interaction we have; we could transform companies, cultures,
communities, and countries. I’d like to think I’m playing just one
microscopic part.
Kartik Sakthivel, PhD, serves as the Vice
President and Global Chief Information
Officer for LIMRA LOMA and LL Global,
a non-profit worldwide trade association
for the financial services industry. Kartik
has had a vast amount of leadership and
management experience across multiple
industries. He has held leadership roles
in companies of all sizes, ranging from
small and midsize firms to Fortune 100
organizations.
Kartik holds a PhD in Computer and
Information Science (with a focus on
Information Quality and a dissertation
on best practices for AI) and a Graduate
Certificate in Information Quality from
University of Arkansas at Little Rock, a
Master’s Degree in Computer Information
Systems/IT, and a Master of Business
Administration degree from Southern
New Hampshire University. He has been
recognized as ORBIE ‘CIO of the Year’ for
New England in 2024, and as an ORBIE ‘CIO
of the Year’ Finalist in 2022.
Kartik Sakthivel,
PhD, CTO & Global CIO, LIMRA
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MELISSA LEITNER
& LORCÁN HALL
Q
Melissa, Lorcán - thank you so much for your time!
Why don’t you each begin by introducing yourselves
to our readers?
Melissa: Thank you for inviting us to speak with you,
Megan. I’ve worked in Life & Health (re)insurance
A product development, pricing, innovation, and business
development roles for 20 years, and am currently Head of
Sustainability for Swiss Re’s Life & Health Reinsurance business
unit in Zurich. As a Fellow of the South African and UK
actuarial professions, I’ve enjoyed volunteering in some of the
profession’s sustainability research working groups, focusing
on the 2030 Agenda and its 17 Sustainable Development
Goals (SDGs) by exploring the social sustainability impact of
insurance.
Lorcán: Thanks also, Megan. I joined the industry in 1998,
working with insurers and reinsurers in Ireland, Italy, Germany,
Switzerland, and the UK. Most of my work has been on the
Life side of insurance, including protection business and
investment-linked insurance products. I recently completed
an MSc. in Sustainable Development at University College
Dublin, in partnership with the United Nations. The Sustainable
Development Goals guided our studies, and I approached
everything via an insurance lens.
public and private sector executives, the Paper will contain
recommendations on how to raise the visibility of the
industry in these agendas and mobilise more initiatives.
Swiss Re has generously funded this work and Melissa has
been a valuable sparring partner!
Q
A
Melissa, can you outline the links between L&H
propositions and sustainable development in order
to illustrate why the SDSN’s Position Paper is
important?
Melissa: In my view, L&H insurance aligns most
closely with the goals of SDG 1 (No Poverty) and
SDG 3 (Good Health and Wellbeing).
Put simply, life insurance helps widow(er)s and orphans
after catastrophic personal shocks. Life insurance is a
standard tool for financial planning in high-income families.
However, for low-income families who have much greater
financial vulnerability, life insurers do not always make
their products as easily accessible. Studies show that 3.4
billion people are vulnerable to falling into poverty, and the
loss of a breadwinner is one possible catastrophic trigger.
I believe the industry could play a far greater role in
preventing financial hardship for vulnerable communities,
or framing it positively instead, as well as a far greater role
in supporting their rise into middle-income status, security,
and prosperity.
The provision of healthcare cannot be achieved without
funding, social programmes, out-of-pocket payments,
private insurance, or a combination of all four. The ILO
estimates that 53% of the world’s population does not
have access to any type of social protection. Creating and
growing private health insurance markets complements the
ambition of universal health coverage (UHC), and people
with sufficient disposable income should be encouraged to
purchase health insurance to minimise strain on stretched
publicly funded healthcare systems. In turn, this will allow
limited public resources to be directed towards the most
vulnerable sections of society.
Lorcán, what does working with the UN involve, and
what’s the link with Swiss Re?
Q
Lorcán: I’m working with the UN Sustainable
Development Solutions Network (SDSN) on
A insurance-related projects. One of these is a Position
Paper, ‘Sustainable Development and the Insurance Industry’,
which will be published later this year. It will examine why
the industry’s distinctive underwriting and risk management
capabilities receive so little attention in development agendas
and frameworks. For example, ‘insurance’ is referenced only
once in the 2030 Agenda, specifically SDG Target 8.10 that
aims to expand access to banking, insurance, and financial
services. Based on over 30 interviews with senior, global
In addition, society could also benefit from more
collaboration across the divide between public and private
health insurance, where such partnerships aid a more
cost-efficient and effective system overall.
It’s clear from Melissa’s response that L&H (re)
insurers have an important role to play in achieving
Q SDG 3. So why is there such minor appreciation of
this role in development agendas, Lorcán?
Lorcán: The Position Paper seeks to answer this
complex question. It’s important to emphasise that
A the responsibility for this gap rests equally between
the public and private sectors. From a private sector
perspective, the industry needs to better articulate how it
supports societal objectives in ways that are meaningful to
non-insurance audiences. (Re)insurance industry experts
talk extensively about the protection gap, but they must
also complement this with the type of data that informs
policymakers.
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For example, a group of distinguished clinicians and
economists recently developed a model that estimates
the effects of improved health on employment, national
income, and government spending from preventativehealth
measures. They calculated that a 20% reduction
in the six major disease categories that keep people out
of work would have significant macroeconomic benefits,
raising the UK’s annual national income by £19.8 billion
within five years. This ‘prevention is better than a cure’
approach will resonate with policymakers and public sector
organisations.
Moreover, the industry has the data to craft these types of
messages. As we know, insurers are increasingly employing
behavioural science to motivate customers to introduce
healthier behaviours, such as raising their activity levels.
Customers are rewarded with lower premiums and other
incentives; healthy customers claim less, benefitting
insurers; and healthy people require less support from
public healthcare systems. A win-win-win!
But is the industry properly communicating these societal
benefits? The Paper’s research participants suggest not,
believing that (re)insurers must do better if we want to
see insurance solutions receiving greater attention in
development agendas and policy initiatives.
Melissa, can you share an example that better links
L&H insurance to societal impact?
Q
Melissa: In Kenya, cervical cancer is the number
one cause of cancer-related deaths for Kenyan
A women, despite being almost entirely preventable
by vaccinating against the Human Papillomavirus (HPV).
Swiss Re is one of a handful of public and private sector
partners that have formed a consortium to sponsor
the development of a new venture. It tackles the twin
challenge of developing affordable health insurance for
female cancers (cervical, uterus, and breast), while also
offering screening and prevention services via a local
pharmacy network. The proposition is supported by a
WhatsApp-based chatbot, in English and Swahili, to
drive awareness around women’s health topics and to
support utilisation of the prevention services. Because
it combines prevention and risk protection together, the
proposition can be priced within reach of women in the
‘missing middle’ demographic. The initiative won the Best
Vulnerable Customer Initiative Award at the Insurance CX
Awards in London earlier this year.
The study analyses 5 Advanced and 11 Emerging markets,
scoring each on a set of indicators for the extent to which
L&H protection is available, accessible, and affordable to
all. It concludes that deficits in inclusion exist everywhere,
and there is room for improvement in all markets studied. It
also encourages insurers to invest in customer research that
prioritises the needs of underserved communities, and to
develop strategic partnerships that unlock new distribution
opportunities.
Q
A
Lorcán, I recently listened to an Insurtech Amplified
podcast where you spoke about the opportunity for
digital technologies to power (re)insurers’
sustainability efforts. Why is this?
Lorcán: Technologies reduce the costs of production,
making products and services more affordable to
wider populations. The Kenyan example with the
cost-effective chatbot tool that Melissa shared a moment
ago illustrates this.
In recent years, mobile-money solutions have made
financial services available to many people for the first
time. However, we’ve still only scratched the surface of
how our industry can leverage digital technology. This is
partly because (re)insurers largely innovate for high-and
middle-income populations, yet today’s digital technologies
present massive opportunities for the industry to mobilise
test-and-learn pilots and scale the most promising
solutions. This is another emerging theme of our research
- (re)insurers that are serious about their sustainability
ambitions should invest resources into digital innovations
that aim to make insurance more available, affordable, and
accessible to low-income populations and people living
with chronic illnesses.
Melissa: If I may offer a concluding observation which is
shared by many executives interviewed for the Position
Paper; many (re)insurers are currently approaching
sustainability topics predominantly with a mindset of
compliance, disclosure, and risk management. This
perspective is understandable given the waves of
sustainability-related regulation breaking on the industry’s
shores. However, when sustainability is additionally
articulated as a development agenda for which the insurer’s
toolkit is relevant, powerful, and under-utilised, then the
tremendous transformational, innovational, and commercial
opportunity becomes clear and exciting.
Lorcán: If I may add another example to illustrate a specific
point, Vitality is arguably the world’s leading insurance
solution that supports and rewards customers for living
healthier lives. Vitality was pioneered by Discovery, the
South African group in South Africa and the UK, and is
now also offered across global markets in partnership with
insurers such as AIA in Asia-Pacific, Generali in Europe,
and John Hancock in the US. I’m highlighting this South
African-born innovation to illustrate that innovation is
universal. High-income nations don’t have a monopoly on
creativity, and there’s much to learn from how resourceconstrained
nations are innovating.
Q
This point brings me onto something else I wanted
to ask you about, Melissa - the Swiss Re Institute
L&H Insurance Inclusion Radar…
Melissa: Yes, thank you for signposting this study,
Megan. Even industry insiders may find it surprising
A to learn that, despite so much attention on natural
catastrophe protection gaps, the Swiss Re Institute
estimates the global L&H protection gap to be about 3.5
times larger. The Inclusion Radar is an effort to put the
spotlight on L&H, going beyond measuring the gap and
moving further towards explaining why it exists, as well
as recommending a path forward to make L&H protection
more inclusive.
Melissa Leitner,
Head of Life & Health
Sustainability, Swiss Re
Lorcán Hall, Senior
Advisor, SDG Academy,
United Nations Sustainable
Development Solutions
Network
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REVOLUTIONISE, OPTIMISE, MAXIMISE
FNOL
Laird's Formula for Claims and supply chain Excellence
IMAGE LINK
EXPERT
ENGINEERING
INSTANT
TRIAGE
SUPPLY CHAIN
AUTOMATION
FNOL Instruction:
Easily instruct Laird via API or
AI-processed emails,
triggering a branded text link
for drivers without an app.
ADHERING
CONSUMER DUTY
CLIENT
PORTAL
Image Link:
Streamline as drivers submit
vehicle details and images
through a customisable link,
ensuring a quick response
from engineers with client
branding.
Consumer Duty:
Keep drivers informed via text or email, utilising chatbots for
efficiency and providing 24/7 voicebot service.
Engineering:
Blend Visual Intelligence AI
with qualified engineers,
supported by automated
data sources for accurate
reports shared directly with
clients.
Supply Chain Automation:
Automate supply chain
management, instructing
repairs and keeping clients
informed about estimated
times, addressing delays
promptly.
Portal:
Clients access cases, estimates,
and images through our
interactive portal, with
customisable access levels for
different users.
Triage:
Efficiently direct vehicles to
suitable facilities for repair or
salvage, confirming hire car
needs, streamlining the
process for clients.
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INSURTECH
INK
EDITORIAL
BOARD
or
nk
it
k,
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...
I
Manjit Rana,
EVP Insurance, UK, EMEA
& APAC, Clearspeed
Gavin Peters,
Chief Marketing Officer,
Genasys
Rich Tomlinson,
Managing Director,
Percayso Inform
Andy Cohen,
President, Snapsheet
or
r
Denise Garth,
Chief Strategy Officer,
Majesco
Sara Shipley,
Chief Human Resource
Officer (CHRO), INSTANDA
MODERN INSURANCE | 73
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INSURTECH
The Unfolding Story of
Innovation Maturity in
Insurance
Manjit Rana
EVP Insurance, UK, EMEA & APAC
The insurance industry has witnessed a
significant surge in innovation over the past
decade, driven by the emergence of insurtech
and increased investment. While the pace
of innovation has slowed slightly in recent
years, the industry has undergone a profound
transformation.
The insurtech ecosystem has grown rapidly, supported by megaconferences,
events, webinars, incubators, and other initiatives
aimed at educating insurers, showcasing solutions, and fostering
collaboration.
However, the reality is that many of these insurtech ventures have
not achieved the same level of success that was anticipated by the
market, industry influencers, and the insurtechs themselves. While
the industry has benefited from increased innovation, much of the
progress has been incremental rather than transformational.
Over the years, innovation ‘labs’ became a common feature in many
insurance companies; their success rate, however, has been mixed.
Several factors contributed to this:
• Leadership Experience: A number of insurers elected to put their
innovation programmes under the stewardship of someone from
the core business with little or no entrepreneurial or innovation
experience – that traditional way of thinking doesn’t change easily
just by adding the word ‘innovation’ to their job title!
• Regulatory Constraints: The insurance industry is heavily regulated,
creating the perception that it is difficult to introduce new products
or processes quickly. This can stifle innovation and limit the ability of
labs to experiment and iterate.
• Risk Aversion: Insurers are often risk-averse, hindering their
willingness to invest in new, unproven ideas. This can make it difficult
for innovation labs to secure budget and support for their projects.
• Legacy Systems: Despite spending millions on implementing new
core platforms, many insurers still struggle to integrate with new
insurtech propositions, limiting the potential of innovation labs to
develop and implement disruptive solutions.
Next-Generation Innovation Models
Next-generation innovation models are characterised by a more
adaptive, collaborative, and technology-driven approach. They
should aim to break down silos, foster a culture of experimentation
and leverage emerging technologies to create sustainable and
disruptive solutions.
Some key elements of these models are:
1. Ecosystem-based innovation
Knowledge sharing: Sharing of challenges and innovative solutions or
technologies across different territories.
Partnerships: Collaborating with external partners such as tech
startups, insurtechs, universities and research institutions, to access
new ideas and expertise.
Open innovation: Encouraging external contributions and fostering a
culture of openness and idea sharing, as applicable.
2. Customer-centric design thinking
Empathy: Deeply understanding customer needs and pain points,
whilst adopting a drive to solve existing issues and anticipating issues
yet-to-come.
Prototyping: Rapidly creating and testing prototypes to gather
feedback.
3. Agile and iterative development
Continuous improvement: Embracing a mindset of constant
improvement and adaptation.
Experimentation: Encouraging experimentation and learning from
failures.
4. Culture of innovation
Risk tolerance: Fostering a culture that is comfortable with risk and
experimentation.
Diversity and inclusion: Creating a diverse and inclusive environment
to encourage different perspectives.
By embracing these elements, organisations can better position
themselves for success in an increasingly competitive and rapidly
changing world.
• Difficulty in Measuring Success: It can be difficult to measure
the success of innovation labs, especially in the short term, making
it challenging to justify continued investment in these initiatives.
Importantly, it can also be hard for leaders to align on what success
looks like from the outset.
To overcome some of these challenges, insurance companies need to
evolve their innovation delivery model into more of an ‘Innovation as
a Service’ provision.
MODERN INSURANCE | 75
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Communication:
The Crucial Ingredient
The other night, I went out for a pizza. There’s a new pizzeria in my village and I overheard
someone recommend it. ‘Great value, and they provide exactly what you ask for’ they said. I
know I like pizza, and despite not knowing the person, they seemed decent enough, so I booked
myself a table by the window and went along.
‘Oh… minimalist!’ I thought to myself as I sat down and browsed
the ‘menu’, which was really just a list of obscure pizza names.
Very on-trend. I decided on the ‘Digita Transformaggio’, which
sounded like something for a modern man like myself.
I asked the waiter about the Digita Transformaggio, and he
said it was one of the most popular pizzas – in fact, it was very
innovative. When I asked what it contained, he said it was a
delicious cheesy pizza topped with fresh fruit. I questioned what
fruit, but he said he’d have to go back and ask. To be honest, I was
quite bored of waiting by now, and was so hungry I just decided to
order it. Unlike some, I chuckled to myself. I can handle pineapple
on a pizza, so let’s go with it.
After a 20-minute wait, I called the waiter over and asked if he
knew how long it would take. He said that the pizza I had ordered
was quite complicated and they were only half-way through
making it, but promised me I was going to love it when it arrived.
So, I ordered some olives to tide me over. After another 20
minutes, I asked again. He apologised and said it was nearly ready,
just another 10 minutes to wait. Given my hunger, I ordered some
more olives.
“I assumed you just liked olives sir, and these are very wellprepared
olives, sir. The very best, in fact”.
I reluctantly tucked in. To be fair, it was well cooked. The cheese
was delicious, and the olives would probably have been amazing if
I hadn’t already had two bowls of them. It was filling, and when the
bill came, I have to say, it was very cheap.
In fact, you could say it was ‘great value’, and I got ‘exactly what I
asked for’…
Next time I go out, I’ll try to choose somewhere that will think
more about what I really want, and I’ll spend a little more time
making sure I know what I’m asking for.
Finally, my pizza arrived. ‘Here we go!’ I thought to myself, rubbing
my hands together in anticipation. My waiter gave me a big smile
as he handed over what appeared to be a pizza base topped with
cheese and olives.
“Oh”, I said, “this isn’t what I expected?”
“But this is what you ordered,” he replied.
“You said it was a fresh fruit pizza?” I protested. “And there’s not
even any tomatoes on here!”
Gavin Peters
Chief Marketing Officer, Genasys
“Well olives are a fruit, sir, and you didn’t ask for tomatoes”.
“So you just let me order two bowls of olives, and didn’t think to
tell me my pizza was almost entirely made of olives? And how did
this take almost an hour?”
MODERN INSURANCE | 77
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INSURTECH
Know Your Customer
Knowing your customer is fundamental to the success of any insurance business. In principle,
checking the customer is who they say they are should be relatively straightforward – but it’s not
quite as simple as it used to be.
While the digital age has delivered countless benefits to the way
customers interact with insurers, it has enabled numerous ways
in which they can hide or misrepresent their true self – including
whether they’re a human being or a bot.
Take quote manipulation. It’s become a major issue for insurers from
a risk and loss perspective because the customer is paying a much
lower premium than the true risk they present due to the inaccurate
information supplied.
This manifests itself in a number of ways. For example, a customer
could obscure ID information such as date of birth, driving licence
number or address to hide negative data such as driving convictions
or poor credit history. More sophisticated individuals who understand
how insurance pricing works iteratively adapt various rating factors,
such as their occupation or no claims discount – or they may even
misrepresent their true vehicle details and usage.
At the beginning of the year, we examined 360 million distinct quotes
across 2022 and 2023 and uncovered a growing number of people
willing to misrepresent themselves to insurers in order to obtain
cheaper cover. We identified a 20% uptick in quote manipulation over
this period.
But this is where the grey areas set in. In the current economic
environment where household incomes are stretched, previously
honest customers may be tempted to lie – or even be encouraged by
consumer champions in the media – to save a few pounds.
The cost-of-living crisis has also led to an increase in the number of
vulnerable customers, representing another challenge for insurers.
Many of their customers could be classed as vulnerable (according
to the FCA’s criteria) without even realising it, due to circumstances
such as a recent bereavement or divorce.
It’s more important than ever for insurers to employ the latest data
interrogation techniques in order to spot a series of anomalous
responses and better identify suspicious activity. The good news
is that there are new solutions that they can adopt to tackle this
growing problem.
At Percayso, we’ve built a market-wide
‘full’ quote lake and built a SaaS platform
to deliver self-service quote manipulation
management to insurers. Using the tools
and information our platform delivers, they
can easily and dynamically set rules and
strategies to better manage suspicious
activity and accurately price each risk.
Knowing your customer can become
easier again. Honest customers will no
longer have to pay for the actions of
dishonest ones, and insurance providers
can experience improved loss ratios and
profitability.
Rich Tomlinson
MD, Percayso Inform
Why Legacy Mindset Around the Insurance Technology
Stack is Holding You Back — And How to Fix It
The insurance industry is known for its conservative approach, which has served it well in managing risk. However, as
technology orthodoxies have evolved over the last decade, insurers did not strike the right balance between caution and
embracing innovation. Insurers must step outside traditional norms to realize what their technology stack can achieve with
the flexibility and efficiency that innovation offers.
For years, insurers were advised to adopt suite solutions from a single
large-scale technology vendor for policy, billing, claims, and all core
operations. Adopting a suite solution made sense in the past when data
exchange, integration complexity, cost management and compliance
were significant concerns.
However, those risks and challenges have been largely mitigated
by modern SaaS providers. This shift enables insurers to adopt an
integrated best-in-breed approach, partnering with the best solution
for each operational area, integrating data and platforms seamlessly to
enhance results.
Outdated Traditional Suite Model for Core Systems
Relying on a single technology vendor (“Suite”) for core platforms is
legacy thinking. Best-in-breed models benefit insurers in a similar way to
consumers when they choose specific products to match their personal
needs - whether it’s a Samsung television, a Whirlpool refrigerator, or
an Apple iPhone. Locking in a single core platform vendor for diverse
business needs - given the investment, changing technology landscape,
opportunity costs, and integration needs - creates bottlenecks,
prioritization issues, and overall business risk.
Modern APIs enable seamless integration between platforms from
multiple vendors, offering flexibility and adaptability. Insurers no longer
need to be tied to one vendor’s product lifecycle, strategic roadmap,
or upgrade schedule. With an integrated best-in-breed approach,
insurers can avoid the bottlenecks that occur when focusing resources
on one part of a suite while neglecting others (such as policy, billing, or
claims), avoiding prioritization between revenue generation, service, and
compliance activities.
An Integrated Best-in-Breed Model Improves Results
Given the pace of change in technology and the scale of the insurance
value chain, no vendor’s platform can be number one in each function.
Suite solutions expose these weaknesses while locking in carriers to
potentially decade-long bottlenecks. A best-in-breed model allows
insurers to optimize each area by selecting top technology that integrates
smoothly with others.
For instance, a vendor specializing in claims management can provide a
best-in-class claims platform while connecting with top platforms via API
for policy and billing. This integrated modular approach results in faster
time to market, reduced costs, and continuous updates—ensuring the
insurer always operates at peak efficiency.
The key to success in this model lies in
partnerships that embrace collaboration.
It’s not just about adopting best-in-breed
technology, but ensuring these platforms
work seamlessly together to drive measurable
results. Insurers that leverage integrated bestin-class
solutions unlock agility, innovation,
and growth.
Andy Cohen
President, Snapsheet
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INSURTECH
Today’s Business Essential:
Bringing an ‘Outside–In’
View to Insurance
Change continues to change. For P&C
insurance, the continued market challenges of
inflation, claims losses, catastrophic events and
unprofitable operations are resulting in a rapid
rise in the cost of P&C insurance – in many cases
by 20%-30% or more. This is having a negative
impact on customers.
Many are switching carriers, decreasing coverages, and in some
instances, eliminating insurance due to cost. Insureds are increasingly
frustrated, disenchanted, and suspicious of insurers. This is not good
for customers, insurers, or even society, as it creates a growing
protection gap, a loyalty and trust issue, and potential for further risk.
Whilst increasing insurance premiums is a short-term necessity, it is
not sustainable. We need to look through the eyes of our customers
and reconsider our operating cost structure, the technologies we
use, the products we offer, and the way we use data and analytics.
We need this ‘outside-in’ view to chart a new course and rethink our
operating model and technology — the foundation of our future.
• Increase investment in a new technology foundation. Based
on most assessments by industry analysts, the historical average
investment has been 3-4%. This keeps you even at best. Look at
increasing this to 5-9% or more to leap ahead. We found the impact
of replacing legacy and investing in next-gen intelligent solutions had
a 1.95X greater impact on growth.
• Invest in AI and GenAI. Leverage new sources of data and
advanced AI/ML models. This provides dynamic, real-time analysis,
plus recommendations for underwriting and claims to improve claims
loss ratios and underwriting profitability with intelligence. Create
real operational optimization and productivity gains of 70-90% with
GenAI embedded across the rest of your business processes and
transactions, helping drive down unit costs and cost ratios that can
make your pricing more competitive and attainable for customers.
For decades, the creation and evolution of insurance markets and
products unfolded at a slow and steady pace. But this progression
is unresponsive to market shifts or opportunities. To meet changing
market and customer demands and to remain competitive,
insurers must revamp their operating model to leverage next-gen
core solutions that enable doing things differently as an essential
competitive advantage.
Revamp Your Planning Process
With the annual strategic planning process underway, the time to set
a new direction has never been better. Today’s planning needs to be
bold enough to match the velocity and magnitude of the changes
insurers and their customers are facing. Allocating most of your
resources to maintaining the status quo of your current business
operation and technology is not working. Change is needed.
So what should you consider doing differently? Here are some
suggestions:
• Shift and reallocate resources. Many annual budgets focus on
keeping the business running with 90% of the resources or more –
both operational and surplus. Consider shifting more resources that
invest in the future of your business to create a new operating model
and technology foundation. We found those who conducted a 10-
20% shift saw a 1.48X greater impact on growth.
Denise Garth
Chief Strategy Officer, Majesco
MODERN INSURANCE | 81
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INSURTECH
The Power of Culture in
Driving Success
In an industry where rapid technological
advancements and shifting customer
expectations are the norm, maintaining a strong,
inclusive and diverse culture is essential. At
INSTANDA, we recognise that our unique culture
is pivotal to our success, driving innovation and
empowering progressive insurers globally to
make insurance more accessible and consumable
in order to protect people and assets.
This shared vision fuels our drive and determination, ensuring that
everyone is working towards the same outcomes. This unified vision
transcends individual roles and departments, aligning every team
member with our goal of being a positive force for good.
A Client Mindset
One of our core values is to always act with a client mindset. We
strive to be our clients’ competitive advantage by thinking like their
customers and teams. This mindset enables us to critically evaluate
everything we do, ensuring that our actions and decisions are always
aligned with client success.
Our people want to make a big impact. Our clients are listening to
their customers’ wants and needs, reflecting them back to us, and
using our platform and our people to adapt to those needs. It’s a
powerful iterative approach which keeps us in lockstep.
“There are core ingredients that show up
within our culture that really set us
apart — having a disruptive nature and
desire to deliver exceptional results.”
and ideas that enrich our existing culture. By genuinely seeking talent
in all its forms, we have created an environment that makes us savvier
problem solvers and drives better results.
Wellbeing First
We understand that a happy, well-supported team is crucial to
success. Our compelling benefits structure is designed to help our
employees achieve their career goals while maintaining a healthy
work-life balance. For example, our Dynamic Days programme allows
team members to take an extra day’s leave each month to step away
from work to do the thing that they enjoy, enhancing their overall
wellbeing.
Of course, being a progressive employer means constantly seeking
new ways to best serve the needs of our employees and support their
career ambitions. As examples of our commitment, we’re launching
two initiatives in January 2025. The first is Flexi-Bank, allowing
employees to choose their bank holidays instead of fixed national
holidays. This new approach will enable our global workforce to selfselect
the days that matter most to them, be those religious festivals
or an opportunity to protect special anniversary dates. Our people will
have the freedom to choose what works for them! With ‘freedom’ as a
theme, the second is the INSTANDA Freedom Pass, giving employees
the flexibility to work from anywhere in the world for up to four weeks
a year, focusing on wellbeing, productivity and output over locality.
Having the right culture is not just a ‘nice-to-have’; it is essential to
our success at INSTANDA. By fostering a unified vision, encouraging
innovation and prioritising inclusivity and wellbeing, we have built a
strong foundation for continued growth and client excellence.
A Culture of Disruption & Inclusivity
Our platform and people push boundaries. We foster a culture where
individuals are encouraged to think outside the box and deliver for
our clients in innovative ways. This disruptive nature and desire to
excel set us apart from the competition.
Having an inclusive and diverse culture lies at the heart of who we
are and what makes us so successful. Instead of aiming for cultural
fit based on set metrics, we focus on being ‘culturally additive’. This
approach means actively seeking people who bring new perspectives
Sara Shipley
Chief Human Resource Officer
(CHRO), INSTANDA
82 | MODERN INSURANCE
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