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SME insurance market set for digital transformation

Open-access content Monday 4th December 2017 — updated 5.50pm, Wednesday 29th April 2020

Small firms are increasingly looking to interact with their insurers online, suggesting the market is set to experience a similar digital transformation to the one seen for personal insurance.

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That is according to new research by PwC, which shows over a third of small British firms would be willing to use sensor technologies to bring down premiums. Read the full article on our Predictions site here

This article appeared in our November 2017 issue of The Actuary .
Click here to view this issue

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Cyber insurance market set to more than quadruple by 2023

The global cyber insurance market was valued at $3.4bn (£2.5bn) last year, but is set to more than quadruple to $16.9bn by 2023.
Wednesday 29th November 2017
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Boosting tech skills could 'super-charge' UK GDP

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Failure to adopt proven technologies costing UK economy £100bn

The UK economy could receive a £100bn boost if firms were to more widely adopt tried-and-tested technologies like the cloud, according to report released today by the Confederation of British Industry.
Monday 13th November 2017
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CBI warns of 'sluggish' GDP growth

UK GDP is expected to grow at a rate of 1.5% this year and next before falling to 1.3% in 2019, according to forecasts released today by the Confederation of British Industry (CBI).
Monday 4th December 2017
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Investment management efficiencies could slash pension costs by third

Sharing administration and transaction resources between investment managers could save a typical defined benefit (DB) pension fund £700,000 a year in fees.
Friday 1st December 2017
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Actuaries warned of legal threat to ignoring climate-related risks

It is increasingly likely that actuaries and investment consultants could face legal action should they fail to recognise the financial implications of climate risks.
Wednesday 29th November 2017
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Latest from November 2017

Annual funding shortfall of £1bn found in social care system

The UK’s social care sector is being propped up by care homes charging those that can afford to pay for themselves more than the fees paid by councils to fund residents.
Thursday 30th November 2017
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Nearly half of employers reluctant to include more staff in pension auto-enrolment

Almost half of UK employers oppose reducing the lower trigger rate for pension auto-enrolment from an annual salary of £10,000 for their employees.
Thursday 30th November 2017
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Book review: Loss Coverage by Guy Thomas

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COVID-19 forum for actuaries launched

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Wednesday 25th March 2020
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Travel insurers expect record payouts this year

UK travel insurers expect to pay a record £275m to customers this year as coronavirus grounds flights across the world, the Association of British Insurers (ABI) has revealed.
Wednesday 25th March 2020
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Grim economic forecasts made as countries lockdown

A sharp recession is imminent in the vast majority of developed and emerging economies as the deadly coronavirus forces businesses to shut down across the world.
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BoE warns of threat to cross-border insurance contracts post-Brexit

Millions of people living in the EU and the UK could see their insurance policies become redundant without a political agreement during Brexit negotiations.
Tuesday 28th November 2017
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