Avantia, the technology-enabled insurer behind HomeProtect, today announces a major update to its retail pricing model: employing Bayesian optimisation as an alternative to traditional A/B testing. The pioneering new approach uses machine learning to more quickly identify the […]
Christopher Woolard, Executive Director of Strategy and Competition at the FCA, commented: “Before the CMA published its supercomplaint response last year, we had already begun work in the mortgages, cash savings and general insurance markets. […]
What does the FCA’s new Business Plan mean for GI? In this Opinion piece, Mark McDonald, Consultant at Altus, looks at the possible directions that general insurance is going to take, given the criticism of pricing […]
Charging new customers less than existing customers is exploitative and hurts vulnerable groups such as the elderly but drivers and homeowners are still split on the issue, new consumer research from insurance market experts Consumer […]
Genasys Technologies has launched its newest product configuration tool to the UK insurance market. BUILD gives brokers, MGAs, insurers and start-up insurance businesses the power to define insurance products, claims and rating in one place […]
Sir Tim Berners-Lee has urged insurers to avoid the temptation of using increasing amounts of publicly available data about consumers on the web to price their products.
The inventor of the World Wide Web made a plea to the industry at the British Insurance Brokers’s Association conference in Manchester yesterday, requesting that information we share about ourselves on line – particularly by young people through social networks – should not be gathered for the purposes of pricing risk. […]
The Lloyd’s insurance market’s planned expansion into emerging markets is a net positive, even though writing insurance outside of established markets carries additional risks, according to Fitch Ratings.
Fitch said it expects the economic development of emerging market economies to boost demand for insurance and reinsurance. Lloyd’s already writes 25% of its business outside of Europe and North America, with the growth of insurance premiums outpacing that of developed markets. […]