Cyber attacks on businesses soar 235 per cent as pressure builds on security bosses April 25, 2019 The number of cyber threats to businesses has soared 235 per cent in the last year, with small firms still the most at risk, according to a new report. Data from cybersecurity firm Malwarebytes shows cyber criminals are increasingly focusing on businesses, while threats to consumers have dropped almost 40 per cent in the last [...]
Half of motorists think charging loyal car insurance customers more should be illegal April 24, 2019 Fifty per cent of motorists think it should be illegal for insurers to charge existing customers more than new customers for the same cover, a new survey said today. The research by price comparison site Go Compare showed 61 per cent of participants felt insurers treat existing customers less favourably by charging those who renew [...]
New Aviva CEO shakes up leadership team to boost ‘commercial thinking’ April 24, 2019 Aviva’s new chief executive rang the changes among senior management today as he looks to offer more value to shareholders. Read more: Former Aviva boss pay halved in 2018 as insurers gets tough on bonuses Maurice Tulloch announced three fresh appointments at the insurer as he dumped the chief executive of its UK insurance arm, [...]
We are at the big data frontier – we’re going to need some rules April 23, 2019 We create data all the time, even if we don’t realise it. Whether from social media use, video-watching habits, satellite images, traffic flows, or location data from smart devices, companies are increasingly able to use this information to extrapolate trends and capitalise on behaviour patterns. This has driven change across many industries, but it’s of [...]
UK financial services face talent crisis over social mobility and “boring” reputation April 21, 2019 The UK’s financial services sector is facing a talent crisis as would-be employees are put off by its reputation for being “boring”, a new survey has revealed. Research carried out by Big Four auditor KPMG showed 65 per cent of the UK population would not consider taking a job in the financial services sector. Read [...]
London AI startup Cytora raises £25m from Swedish backer EQT Ventures April 17, 2019 Cytora, a provider of artificial intelligence (AI) technology to transform commercial underwriting in insurance, has today closed a £25m series B funding round led by EQT Ventures. Existing investors Cambridge Innovation Capital and Parkwalk also participated in the round, as well as a number of angel backers. Read more: Startups eye bigger slices of the [...]
It’s time to write the next chapter in the City’s story of technological innovation April 15, 2019 When I travel across the globe, there is an issue I get asked about time and time again: what is it about London that makes it such a successful global financial hub? And what is it about the UK that makes us stand out from the crowd? A key part of the answer is innovation. [...]
AA: A sustainable recovery of its own? April 12, 2019 | City Talk After a decent start to 2019, our head of markets kicks the tyres after these uninspiring results. There is certainly a great deal going on under the bonnet at AA (LSE:AA.), although by its own admission there remains much to be done. One measure of progress is the number of contract wins the company has [...]
Home insurers make 100 per cent of profits from loyal customers April 10, 2019 Home insurance companies make 100 per cent of their profits from penalising loyal customers, new research shows. A study published today by Citizens Advice found home insurers make all their profits – amounting to over £1bn a year – from loyal customers holding policies for six years or more. The research showed that loyal customers [...]
Did a monkey break your smartphone? Aviva reveals its most unusual insurance claims April 10, 2019 A horse mounting a car after mistaking it for a female companion, a monkey smashing a holidaymaker’s phone and a gorilla biting a trekkers arm, were just some of claims paid out by insurance giant Aviva last year. The insurer paid out more than £3.8bn last year as the Beast from the East and airport [...]