All articles by GlobalData Financial

UK brokers believe there is a talent crisis in the insurance industry

A survey conducted by Ecclesiastical among 250 UK brokers found that 56% of respondents believe the industry is facing a potential talent crisis.

Motor insurers must evolve to meet shifting expectations of younger generation

According to GlobalData’s 2024 Emerging Trends Insurance Consumer Survey, there is a notable generational shift in preferences regarding motor insurance.

LA wildfires could lead to large parts of the city becoming uninsurable

A GlobalData survey found that many American consumers had already felt the impact of severe weather on their annual household insurance renewals.

Insurers can help businesses mitigate the growing risk of cyber threats

In this challenging landscape, insurers can not only offer tailored cyber insurance policies but also encouraging the adoption of strong cybersecurity practices.

Household insurers should bolt more features as standard amid cost-of-living crisis

Having to pay for unexpected expenses such as home repairs, which on top tend to be costly, can pose a real challenge to some consumers.

Insurers can improve household insurance policies by providing smart home features

Leading broker setting up parametric team highlights importance of the trend

Parametric insurance is where a pre-agreed measure is set; once it is reached, an automated payout is triggered.

Individuals trying to escape NHS waiting lists drives medical insurance sales

According to NHS statistics, there were over 7.5 million cases in England waiting to receive public-funded medical treatment as of October 2024.

Rise in cryptocurrency fraud creates opportunities for the insurance industry

A GlobalData poll conducted on Verdict Media sites in Q2 2024 found that 44% of respondents are interested in purchasing insurance for their cryptocurrency wallets.

Aviva’s acquisition of Direct Line will cement its dominance in UK insurance market

By adding Direct Line, a top-five competitor in its own right, Aviva’s lead would widen substantially.