Contents

Issue 13 | October 2021

News in numbers

Verdict InsurTech gathers the most important industry news in recent times, including some startling figures

COVID-19 business interruption court cases have reinforced trust

UK SMEs have endured a turbulent period since the start of COVID-19, but the insurance industry has seen trust increase 

Adoption of mobile robots for property inspections shows growth potential 

Computer vision promises to improve the claims handling process and more accurately assess losses for insurers. 

One third of UK SMEs with commercial vehicle insurance have a usage-based insurance policy

33% of UK SMEs with commercial vehicle insurance have some form of usage-based insurance (UBI), and a further 18.6% are considering purchasing this type of product.

Life Insurance: why inflexible, 25-year policies make no sense

Aside from life insurance, there is no other insurance product that keeps consumers tied in for 25 years, with little to no flex to their policy.

Life and health products will benefit most from COVID-19

The life and health insurance markets will see the most positive impact from the COVID-19 pandemic, according to a GlobalData poll. 

Employers’ liability rate for SMEs drops to new low as many accept the risk

UK SMEs are taking on extra risk by not purchasing employers’ liability insurance – a legal requirement – as its penetration rate falls again