Weekly News RoundUp – 26th August

Rising inflation is set to put pressure on insurer profitability in the next 2 years. Research from GlobalData shows that European claim pay-outs are ‘expected to grow by 5.1% in 2022, whereas premiums will grow at a lower rate of 4.9%’. In other news, ABI has released figures related to fraudulent claims in 2021 and reveals some of the more outlandish fraud attempts including a semi-professional footballer filmed scoring a hat-trick whilst claiming for whiplash from a supposed car crash only hours before.

Rising inflation will hurt profitability of general insurers in Europe says GlobalData (Source: GlobalData)
The highest rise in inflation for 25 years in Europe will lead to underinsurance and put profitability under pressure according to research.

ESG: the insurance challenges and opportunities (Source: Instech)
A recent discussion group has highlighted the inconsistency in ESG reporting and various data issues for evaluation.

Own goals, cruise con, DIY vandalism -fall in insurance fraud good news for honest customers, but no room to go easy on the cheats says the ABI (Source: ABI)
The number of fraudulent claims fell in 2021 and the value also dropped to 2012 levels.

Embedded insurance is set to thrive (Source: Companjon)
A fascinating article from one of the MGAs on our platform, demonstrating why businesses and insurers are embracing embedded insurance due to its unparalleled value add.

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