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How can the motor finance industry respond to current challenges?

Posted by Nieves Perez-Minana on Sep 4, 2019 3:28:58 PM

Significant growth in the UK motor finance market has resulted in both increased scrutiny from regulators and ongoing competition from financial services challenges. Lenders, brokers and vehicle manufacturers should all take steps now, and in the longer term, to protect their market position.

Regulatory focus on the third-largest lending sector

In 2018 the UK motor finance market reached £64bn, making it the third-largest lending sector. Research shows that UK consumers trade their cars more frequently than elsewhere in Europe and the hold periods have been coming down, largely as a result of greater availability of finance.

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Topics: Insurance

How can insurers respond to the Ogden rate changes?

Posted by Robin Harrison on Jul 22, 2019 11:26:36 AM

Rapid responses required to bottom line threats

In early 2017 the Lord Chancellor, Liz Truss, unveiled the long-awaited change to the Ogden rate, the rate at which large injury compensation figures are reduced to offset the fact that prudent claimants would be able to benefit from investment growth.

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Topics: Insurance

Transformation in Pensions Management.

Posted by Robin Harrison on May 22, 2019 9:21:31 AM

While the pensions and retirement income sector present great opportunity, there is also significant risk. Rising member expectations, increasing demand and volatile returns all threaten to unseat incumbents.

In order to thrive, pensions management firms need to look across the entire member journey, carefully considering how to develop people, data and digital integration strategies to deliver world-class, yet cost-effective, member experience. 

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Topics: Insurance

Transformation in commercial insurance.

Posted by Herve Mazenod on Nov 21, 2017 1:42:11 PM

A story of operational instability.

The commercial insurance industry has been labelled as slow to adapt to change. Could a stronger operations capability be the key to unlocking developments in this sector?

Gobeyond Partners' Hervé Mazenod shares his views on how stable operations underpin successful transformation.

Today’s commercial insurance structure is based around a mature set of organisations using high levels of relationship building, which are often difficult to manoeuvre. This culture and approach has created challenges around the adoption of new technologies and much-needed structural changes. Further compounding these issues has been the steady increase in mergers, and too often limited integration of legacy systems.

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Topics: Insurance



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