The insurance industry has already witnessed a huge amount of change within the first six months of 2018. The announcement of the Civil Liability Bill has remained high on insurers’ agendas, against the continued backdrop of Brexit negotiations. Regulation has featured heavily, with the General Data Protection Regulations (GDPR) mainly dominating the headlines in the lead-up to the deadline of 25 May. Add to this the ever-increasing investment in InsurTech and it’s clear to see why both insurance companies and brokers need to continually adapt to changing industry and customer requirements.
As we enter the second half of 2018, Neil Clutterbuck, Allianz chief underwriting officer, takes stock of some key industry topics and considers how these may develop over the rest of this year and beyond.
Areas covered include:
• The Civil Liability Bill.
• Grenfell and the Hackitt report.
• Broker market consolidation.
• ABI pricing principles.
• Brexit, cyber threats and GDPR.