Edward Axon

“Insurance has always been there to help businesses…”adding that when he talks to CEOs about what they can take off the balance sheet… and in summary insurance is a force for good David Howden from Howden speaking with Ian Smith Financial Times Global Insurance Summit #insurance #insurancesummit

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AM Best has revised its outlook for the UK non-life insurance market to stable from negative, in part because it believes commercial and specialty carriers will continue to benefit from rate hardening. “The underwriting results of the UK non-life segment should be supported by the strong market conditions in commercial and specialty lines, which continue to benefit from positive rate momentum,” it said. More here 👉 https://ow.ly/UeGi50RqNpu #EuropeInsurance #Insurance #underwriting AM Best

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💡Speaker spotlight for TINtech 💡 Meet Lauren Stables, the dynamic Head of Digital Trading at Aurora, who will be taking the stage at this year's TINtech. With over a decade of expertise in digital innovation within the insurance sector, Lauren has continually pushed the boundaries of what's possible in commercial insurance. Lauren's session will focus on: ⚡Harnessing real-time data, advanced analytics, and AI to meet evolving customer expectations. ⚡Driving a cultural shift towards operations that are more collaborative, data-enriched, and customer-centric. ⚡Tackling the operational hurdles that come with innovating new products in a shifting risk landscape. Don’t miss out on her insights into transforming customer journeys and enhancing operational efficiencies. #TINtech #DigitalInnovation #InsuranceTech #Leadership

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Last week, the Association of British Insurers released data showing that the average motor insurance premium has fallen for the second consecutive quarter. Whilst this is undoubtably good news for consumers, we know that many continue to struggle due to the cost-of-living crisis and the relatively high cost of insurance premiums - despite the quarterly drop, the average cost of motor insurance is still £50 higher than the same period in 2023. We continue to encourage members of the public to explore legal ways to reduce their premiums: ➡️ Renewing early ➡️ Shop around ➡️ Consider a policy with a black box ➡️ Combine policies (multi-car and/or home insurance) ➡️ Make sure you're on the electoral register Read more: https://ow.ly/474E50U6XY3

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Catch up on our latest webinar; Tackling Underinsurance: Ensuring your clients have sufficient Business Interruption cover 💻   Hosted by experts from our Claims and Underwriting teams and Steven Manning from LMI Group, providers of the Aviva Business Interruption Calculator tool.    You can watch now ▶https://lnkd.in/eApk9muE   #BusinessInterruption #HereForBrokers #Underinsurance

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Are you a commercial insurer struggling to increase sales through your broker network? If you have a superior product, but brokers aren’t fully aware of the added value it brings to the market, please get in touch—we’re here to help. At Small Print Compare, our solution enables insurers to present a comprehensive list of cover options, allowing brokers to easily compare policy differences. This approach not only helps insurers demonstrate fair value but also equips brokers with clear evidence to show they’re meeting their customers' needs. Contact us to learn more. #comparison; #fairvalue; #consumerduty

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Ever wondered about the difference between product warranty and product insurance? The Bolt Cover team has you covered! Seems like we discuss this a lot, especially in categories like furniture: - Warranty - provided by the product manufacturer, typically 12 months (though sometimes more), only covers structural damage, which is rare in most products. Usually serviced via replacement only. - Insurance: provided by an insurer, usually covers all harms (for furniture accidental damage, stains and structural coverage), in this case serviced by a repair-first network of 100+ furniture repair technicians (via our partner Castelan Group). If you're not offering your customers insurance, you're doing them a disservice. #warranty #insurance #insurtech

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I've always said that the ICX innovation class of business was one of the best things Lloyd's has done in recent history, and now they've gone and made it even better by increasing the budget from 2% to 5% on top of syndicate business plans. To those that don't know, the ICX class of business at Lloyd's is a big deal because it encourages the development of innovative insurance products through the provision of certain capital, reporting & permission benefits. Great news, driven by Rachel Turk - CUO at Lloyd's. Furthermore Lloyd's is establishing a TCX 'transition' class of business that will provide all syndicates with additional budget to pursue insurance innovation relating to the climate transition problem specifically, with incentives to be announced. For CFC, having launched into carbon insurance just a few months ago and already leading the market conversation in many areas, this is brilliant news on both fronts as we will use both classes. We need more infrastructure support to make Lloyd's and London the epicentre of the insurance industry's climate relevance and this kind of thing from Lloyd's is great evidence for how fast insurance can move if the right people are involved. If you want to know more about CFC's carbon offering please follow the link.

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Busy start to the week Evolution Risk Group Monthly team meeting yesterday reviewing • November • Y2D • Pipeline & Forecasts • Plan of attack for December Lots of key actions ans tweaks to improve how we operate on a daily basis and continue to squeeze more and more performance and efficiency in how we work. Insurer meeting today followed by a client meeting for a decent sized March prospect and an existing client review of their trade credit insurance proposal finished with a few hours of team prospecting. Rounded off by the great news that we had an offer accepted for a new Account Handler to join the team 🗞️ #insurance #construction #leisure #financedirector

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🎥 Andy Talbot, Director of Marketing, Broker and Schemes, talks about ARAG's approach to setting up specialist commercial and personal schemes for brokers, insurers and MGAs, to cater to clients' needs in a specific market niche. See ARAG's latest video here: https://lnkd.in/eGeE2Axi #ARAG #Insurance #SpecialistSchemes #Brokers #MGAs #CommercialInsurance #PersonalInsurance 

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Well, this is interesting! Aviva's £3.6bn takeover of Direct Line Group is finally happening. While it's a significant move in the UK insurance market today, one has to wonder... shouldn't this have happened a decade ago? 🤔 #insurance #mergersandacquisitions #aviva #directline #industryinsights

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𝐓𝐡𝐞 𝐁𝐫𝐨𝐤𝐞𝐫 𝐌𝐚𝐠𝐚𝐳𝐢𝐧𝐞: 𝐓𝐚𝐜𝐤𝐥𝐢𝐧𝐠 '𝐰𝐡𝐚𝐭'𝐬 𝐧𝐞𝐱𝐭' 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬, 𝐭𝐨𝐠𝐞𝐭𝐡𝐞𝐫 📌 David Martin, Managing Director, UKGI Distribution and SME of Aviva looks at the changes and challenges affecting the market and how Aviva is responding. Click the link below to read more... 📖 𝐓𝐡𝐞 𝐁𝐫𝐨𝐤𝐞𝐫 (𝐩𝐚𝐠𝐞 𝟑𝟖) 🔗 https://bit.ly/3QUR13m #TheBroker #Insurance #Magazine #BIBA2024

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Hear from our very own Oliver Davies about how HDI Global SE in the UK and Ireland is partnering with brokers and their clients in times of transformation. #HDIGlobalSE #InsuranceBusiness #PartnerInTransformation

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Be a conscious consumer✔️ As a consumer, you can make a strong contribution towards positive environmental change through buying power, including insurance. At Naturesave we passionately believe insurance should protect both people and the planet. How do we do this? ⬇️ https://bit.ly/3xFutNu Get in touch to learn more 💬 🔗https://bit.ly/4aWBAzj #EarthDay

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The potential acquisition of Direct Line by Aviva has certainly sparked a lot of conversation. Personally, I’m torn about this development. I hold immense respect for both Direct Line and Aviva, but the continued wave of mergers and acquisitions in the UK insurance market raises concerns about reduced competition and fewer choices for consumers. Direct Line is more than just a household name; it’s a British institution that revolutionized the insurance industry. As the first to allow consumers to go "direct" for car insurance (i.e. not through a broker), they paved the way for comparison websites and the modern personal lines insurance experience. Personally, I strongly believe in the value that brokers bring to the journey, consumers would have less claims refused, understand their terms better and the overall reputation of the industry would be better if more customers went through a broker. However, the monumental impact Direct Line had on the market can not be ignored, going direct reduced cost for consumers, providing a viable alternative - as long as they understand the valuable advice they are giving up to save some money. Initial reports suggest that Aviva plans to retain the Direct Line brand, and I truly hope this commitment holds. The loss of such an iconic name would be a real blow to the heritage of the UK insurance market.

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Tick tock! For many people the CPD clock will be ticking loudly with a year end deadline approaching. Almost everyone in the industry will need to achieve 15 hours CPD to meet the IDD requirements - if you are a Principal firm, make sure that the relevant staff at your Appointed Representatives are on track too (this should form part of your AR monitoring plan). If you are professionally qualified then the CPD bar is quite rightly, set higher & to hit 35 hours in a year, you need to plan & spread your activities over the full 12 month period to avoid a last minute rush. The good news is that there are plenty of ways in which you can get your CPD; it isn't just eLearning & formal training courses (as good as they are!). The local CII institutes run a great range of webinars - most of which are now on Teams. They also offer "on demand" CPD so you can view it at a time/place that works for you. Activities such as technical reading also count as CPD - but make sure you are: 1) Covering the core topics required by the IDD; & 2) Getting the right mix of structured / unstructured CPD (if you are professionally qualified). Don't be tempted to think of CPD as a "tick box" exercise; avoid just taking the same courses year after year, the industry is constantly evolving & there are always new things to learn about whether that be the rise of parametric coverages or the use of AI. After 36 years in the industry (I know, I look too young, but its true), I'm still learning new things on a regular basis. If you have fallen behind, there is still time to address it for 2024 - but if this is you, make sure you have plan for 2025 & you will have a year end free of CPD related angst.

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