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    Markerstudy's Gary Humphreys explains how insurtech will benefit MGAs


    Markerstudy's group underwriting director Gary Humphreys has spoken out about the future of MGAs and how technology will help them stay ahead of the game.

    Markerstudy, which underwrites more than five per cent of the UK’s motor market, became one of the UK’s biggest retail MGAs when it was acquired by Qatar Re earlier this year.

    Writing in Insurance Age, Mr Humphreys said: “Technology is helping to change the shape of the MGA space and the best MGAs are clever about how they use it. Embarking on a road of innovation and transformation will shape an MGA’s direction. 

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    Finding the right strategy to reduce insurance fraud


    A few app pioneers have entered the marketplace for on-demand insurance in the past few years. Whether insuring cars, gadgets, homes or travel, these startups all promise swift and fuss-free protection.

    But in the race to digitise and meet customer expectations, some of these new brands have struggled when it comes to managing risks. The challenge for digital insurers is to speed up and improve the user experience while simultaneously ensuring they’re not making things easier for fraudsters. 

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    How insurance apps can be used to purchase pet insurance


    The vast majority of British pets are uninsured and at risk of costing their owners thousands of pounds, according to the Association of British Insurers.

    Up to 67 per cent of dogs and 84 per cent of cats – a total of 8.2 million pets­ – are not insured. With treatment costs continuing to rise, insurance is becoming a necessity rather than a luxury. the ABI cites a case in 2017 where it cost £10,000 to treat a dog’s broken bone, while the average cost for surgery is £1,500.

    According to UK Pet Insurance: Market Dynamics and Opportunities 2017, a report published by the digital media company GlobalData, the pet insurance sector is taking off both in terms of gross written premiums and in the development and application of insurtech. 

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    Mobile phone apps are a natural fit for selling travel insurance


    ‘To travel hopefully is a better thing than to arrive,’ said Robert Louis Stevenson. But optimism can quickly evaporate if you travel without insurance, as many discover after losing belongings or going through a medical emergency abroad.

    Insurance is often the last thing you think of before going away, and because it’s not compulsory it’s all too easy to be cavalier about it. Research from ABTA shows that 25 per cent of holidaymakers went away without insurance in 2017, up from 22 per cent in 2016, and that younger travellers are the least likely to buy travel insurance. ABTA reports that 40 per cent of 18 to 24-year-olds, and 38 per cent of 25 to 34-year-olds, travelled uninsured between May 2016 and May 2017.

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