Premiums reach record highs

Motor insurance premiums reached a record high in the second quarter of 2023, with the average comprehensive policy now £511.

This is a seven per cent rise on the first quarter and 21% up on the same quarter of 2022.

According to the Association of British Insurers, price rises have been driven by rising repair costs, which have soared by 33% in a year, wage inflation that is up to 40% for some insurers, and a 12-21% increase in the cost of replacement parts.

ABI data also revealed that renewals were up by £36 on the previous quarter to £471, while new policies increased by £21 to £566.

Meanwhile, insurers paid out £2.4bn in all motor insurance claims in the first quarter of this year, a rise of 14% on the first quarter of 2022.   

Mervyn Skeet, the ABI’s Director of General Insurance Policy, said:These continue to be tough times for many motorists and motor insurers alike. With many families facing higher cost of living bills, no one wants to see the cost of their motor insurance rise. Insurers remain determined to ensure that motor insurance remains as competitively priced as possible, but this has become increasingly challenging, given the continued rising costs that they are facing. 

“We would urge anyone concerned about being able to afford their insurance to speak to their motor insurer to see what options might be available. And despite cost pressures, it can still pay to shop around to get the policy that best meets your needs at the most competitive price.” 

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SYNETIQ and LV= provide key to sustainability

SYNETIQ has launched a client initiative with LV= Insurance which sees unused keys sold to raise money for charity. 

The two businesses have come together to sell unused keys for reuse to support the insurer’s chosen charity, FamilyAction – an organisation which supports families when they need it the most.

SYNETIQ already recycles 96.4% of all dismantled vehicles and by combining synergies of care and sustainability, SYNETIQ and LV= Insurance have found this initiative to be crucial to reducing waste further. The pair have so far raised over £500 for the charity with more to come.

Sarah Hirst, Client and Green Parts Director said: “We are proud to work with LV= on this project to sell unused car keys for reuse and help our client raise funds for their chosen charity. We care about making a difference to our clients, charitable causes and the planet. This is a simple impactful initiative that helps raise money for a great cause which is also sustainable.

“We look to roll this out to other clients in the future following the successful trial with LV=.”

Becci Yates, Claims Supplier Manager at LV= Insurance said:“We are delighted to work together with SYNETIQ on this project, not only to reuse keys but to raise funds for Family Action.”

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Copart announces new Northamptonshire site

Copart UK is opening a new Operation Centre in Corby, Northamptonshire.

Plans for a new 33-acre site located at the Rockingham Racetrack will support the company’s growth in the central region of the UK and join existing Operation Centres in Chester, Wolverhampton, and Wisbech.

The site in Corby, expected to be operational by the autumn, will enable Copart to increase vehicle storage capacity in this region by 32%.

Jane Pocock, CEO of Copart UK and Ireland, said, “We’re very excited to announce our plans to develop a new Operation Centre in Corby, which will provide annual storage capacity for 38,000 vehicles.

“Situated in close proximity to Leicester, Northampton, and Peterborough, Corby is a perfect location to further strengthen our unrivalled operational capabilities in the central region of the UK.

“There will be more announcements to come for our customers as we continue to expand our landbank and our range of industry leading products and services.”

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ARC360 Market Intelligence: July 2023

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Best practice and best outcomes: EV batteries

There is no one-size-fits-all approach to best practice, and good outcomes differ according to sector, service and customer. For SYNETIQ, best practice is about ensuring that total losses are managed in the most effective and efficient way for both the customer and the environment.

EVs present a wholly new concern in this area; here, SYNETIQ discusses the challenges posed by battery recycling, and how it is working with the wider industry to find best outcomes.

According to the DVLA, over 960,000 vehicles were taken off the roads last year and as a leading vehicle recycler, it’s our responsibility to adopt and share best practice when handling these vehicles to ensure our clients and their policyholders get the best outcome.

Best practice is a feature in the management standards ISO 9000 and ISO 14001 and we are accredited for both. Achieving these standards means we must evidence the fact that we work towards best practice in our daily duties. We also carry out internal audits against our processes and ISO clauses.

Discovering best practice is a continuing process we go through when adapting and responding to external factors that can have an impact on our business.

External influencers such as new technology, changes in the economy, Brexit and Covid-19 have taught us that as a business we can be agile in our ways of working and continue to deliver for our clients.

It is important to identify your own best practices and adopt ones that suit your business needs. Implementing another company’s best practice could result in trying to fit a square peg into a round hole.

At SYNETIQ, we have seen a tenfold increase in electrified car and van disposal in the past two years. As a recycler, we have a responsibility to dispose of EV batteries in the safest, most cost-effective, and sustainable way.

As our industry navigates the undiscovered world of EV battery recycling, where best practice is yet to be clearly understood, we’re working with experts to research sustainable and cost-effective disposal.

Earlier this year, we teamed up with automotive risk intelligence company Thatcham Research in a project to focus on electric vehicle collision repair and salvage processes.

Very little is known about the risks presented by EVs and what we do know is that there is currently a lack of affordable or available repair solutions and post-accident diagnostics. As we continue on our journey in the discovery of a best practice solution to this issue, we need more data from manufacturers to be able to process the vehicles in a safe, cost-efficient, and sustainable way.

A joined-up approach and more knowledge-sharing throughout the entire supply chain would help to facilitate the safe handling and repairing as well as recycling and repurposing of collision-damaged BEVs. This would support the industry in creating a sustainable, cost-effective way of handling the batteries and electrical components.

As we’re still in the research stage to determine what best practices are for battery recycling, one thing we do know is that it will certainly be worth the time we have invested. We’re leading the way on this subject, and we look forward to sharing the findings so everyone can get the very best outcome.

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Ben drives awareness with summer playlist

Automotive colleagues are being invited to select their top driving songs as part of a new initiative from charity Ben.

Rev up 4 Ben will see the charity create the ultimate driving list, with all songs handpicked by those working within the industry.

The purpose is to curate an epic Spotify playlist of summer driving songs while encouraging engagement for the charity on social media using #RevUp4Ben, as well as increasing sign ups to its email list.

Rev up 4 Ben www.ben.org.uk/drivingplaylist will also help to raise awareness of the charity and let people know that Ben is there to support them.

Ellen Plumer, Head of Marketing, Outreach, Communications & Awareness, said: “To celebrate a love of music, driving and our industry, we’re creating the ultimate driving playlist, chosen by the automotive community – by the community, for the community. We’re really excited to launch this just in time for summer so those travelling to new holiday destinations can have a great new set of tunes to listen to on their journeys.

“The purpose of the campaign is also to boost awareness and increase Ben’s reach so that everyone in our industry knows about the services we provide.”

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ARC360 News – Friday 4 August 2023

The realities of EVs

Opinion within the industry remains divided on both the practicalities of repairing EVs and their long-term future.

While some believe electrification of the car park is inevitable and repairers need to ready themselves now, others suggest the technology may yet be usurped by an alternative and that reshaping their businesses around EV repairs is expensive and unrealistic.

Experts set to explore key topics at EMCC

Leading experts from across the sector will explore the key topics impacting the motor insurance claims sector as part of ILC’s Exclusive Motor Claims Conference (EMCC) 2023. 

Taking place on Thursday 5 October at Landing Forty-Two, London the event will include a variety of high-level insights from C-Suite insurers, insurtechs, and supply chain specialists providing insights into key subject matters such as claims inflation, credit hire, mobility, people, personal injury, repair, and vehicle salvage amongst many other topical issues impacting on the sector. 

Copart expansion continues apace

Copart UK is doubling its operational capacity in Scotland with the development of a new 31-acre site in East Kilbride.

It is also expanding its Sandtoft site to create a 110-acre UK Super Centre in the North of England.

Repairify announces Australian joint venture

Repairify Australia will deliver remote automotive repair solutions to the Australian and New Zealand markets after announcing a joint venture with Capricorn Society.

The joint venture will be branded Repairify and distributed throughout Capricorn’s 25,000 member businesses and the wider automotive aftermarket.

UK manufacturing enjoys positive momentum

Car production in the UK rose for the fifth month in a row in June, taking output in the first half of the year to 450,168 units. This represents an increase of 11.7% on last year although it remains 32.5% down on pre-pandemic levels in 2019.

Elsewhere, van production in the UK enjoyed its best first half of the year since 2011, with 58,675 units manufactured. June’s total of 11,748 represented a 23% increase.

EV sales drive market growth

A new electric car was sold every minute in the UK as the overall new car market grew by 28.3% to 143,921 units in July.

After one year of continuous growth, the Society of Motor Manufacturers and Traders now anticipates new car registrations to reach 1.847 million by the end of the year, a 0.9% rise on expectations in April.

Failing focus on fresh skills

Data from Thatcham Research has revealed falling investment in training across the industry.

It found that apprentice starts in 2021/22 dropped to 432, just 45% of 2017/18 figure. This rose to 844 in 2021/22 but has dropped again to 775 so far this year.

Businesses urged to fight fire risks

Businesses have been urged to update their fire, health and safety assessments as more electric vehicles enter the UK car park.

Training provider Park Lodge International has warned that everyone who comes into contact with an EV needs to be aware of the potential risks. This includes recovery agents, vehicle damage assessors, technicians and those working for the emergency services.

Motor claims numbers falling sharply

Data received by ACSO has revealed a continuing decline in motor claims numbers.

It found that just 89,361 motor claims were issued between 1 April and 30 June, compared to 93,113 for the same period in 2022. Meanwhile, the figures were 159,417 and 146,844 in 2018 and 2019 respectively.

Demand escalating for Ben support

Automotive charity Ben has reported a 23% increase in enquiries in the second quarter of the year, and a 20% increase in support cases.

The sharp rise comes as the cost-of-living pressures continue to intensify, with Ben supporting 128 households who couldn’t afford to put food on the table in the last year, 66 households who couldn’t pay their rent or mortgage costs and 52 households who couldn’t afford their utility bills.

iRG introduces ‘collaborative’ apprenticeship scheme

iRG’s new apprenticeship programme, launched this spring is proving a resounding success with 15 new starters joining the scheme in the first three months.

The company now aims to expand the programme by working with other repairers to create more opportunities and a wider mentoring support system. It has already successfully referred candidates to other repairers and currently has 10 more on a waiting list, seeking placement.

Nationwide Assistance Group bolsters fleet

Nationwide Assistance Group has added two remote-controlled Towtrack specialist removal vehicles to its fleet. The vehicles are ideal for car parks, locked vehicles, electric vehicles, and off-road recoveries.

Road and Race cuts ribbon on Chester site

Prestige vehicle specialists Road and Race Restorations has unveiled its new site in Chester.

The state-of-the-art repairer has aluminium and electric vehicle capability and is approved by some of the world’s leading car manufacturers such as VW, Audi and Mercedes-Benz.

IMI warns of falling EV tech numbers

The Institute of the Motor Industry has warned of a 31% fall in the number of technicians securing EV qualifications in the second quarter of the year. This follows a 10% year-on-year fall in the first quarter.

It says the industry will need 139,000 qualified EV technicians by 2032 but today that number is only 42,400.

Fix Auto Edinburgh celebrates PAS 2060 success

Fix Auto Edinburgh West has achieved PAS 2060 status. Working with ECA business energy, it has implemented a number of carbon reduction strategies and created a target-led plan to reduce emissions year on year.

Audi lights the way ahead

Audi has introduced second-generation digital OLED lighting to its Q6 e-tron model, enabling drivers to set light signatures for the headlights and rear lights via an app. It believes this will improve safety, enhance personalisation, and permanently change car-to-infrastructure communication.

Hooper solution accelerates claims

Hooper has enhanced its independent vehicle inspection technology. Its innovative solution enables clients and engineers to upload images remotely, while insurers can view the status of each report online at any time.

EV demand rising in line with online transactions

The number of car buyers considering a pure EV rose from 15% to 20% between December 2021 and December 2022.

This is according to a new report by McKinsey, which also found that one in three customers would complete the entire transaction online. Less than a quarter say they want an entirely ‘human’ experience.

People

Mirka has appointed Ross Hanna as Business Development Manager for Ireland & Scotland.

David Sollars has been named Senior Project Manager, Body Repair Claims, EMEA.

Chris Weeks has started his new position as Managing Director at Evolution Repair Group.

Nicola Burnside has joined the Renault UK leadership team as Head of Alpine UK.

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iRG introducing ‘collaborative’ apprenticeship scheme

iRG’s new apprenticeship programme is proving a resounding success with 15 new starters joining the scheme in the first three months.

The programme has been introduced to educate and attract talent from outside the industry and highlight the progressive, diverse and lucrative career paths available.

The company now aims to expand the programme by working with other repairers to create more opportunities and a wider mentoring support system. It has already successfully referred candidates to other repairers and currently has 10 more on a waiting list, seeking placement.

iRG said, “We appreciate this may be a little out of the norm, as typically repairers tend to view each other as competitors, but our approach here is not only to ensure a strong and sustainable future for iRG, but for the industry as a whole, which we can only do by working together.”

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Ben backs the automotive family

Automotive charity Ben has reported a 23% increase in enquiries in the second quarter of the year, and a 20% increase in support cases.

The sharp rise comes as the cost-of-living pressures continue to intensify, with Ben supporting 128 households who couldn’t afford to put food on the table in the last year, 66 households who couldn’t pay their rent or mortgage costs and 52 households who couldn’t afford their utility bills.

Rachel Clift, Health & Wellbeing Director at Ben, said: “Times are getting increasingly tough for families and individuals, especially now the summer holidays are here. If you’re worried about making ends meet, buying food, paying the bills and school uniforms for September, you’re not alone, Ben is here for you. We want everyone in our industry to know that we’re here.

“Many individuals and families are being pushed to the edge with the current rising cost of living. It’s also impacting other areas of their health and wellbeing so if you work, or have worked, in the automotive industry please get in touch now if you’re struggling or feeling at breaking point. You can contact our free and confidential helpline.”

Don’t suffer in silence, contact their helpline: 08081 311 333 or use the webchat at www.ben.org.uk. You can also access Ben’s out of hours text support line by texting BEN to 85258.

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Motor claims numbers continue decline

Data received by ACSO has revealed a continuing decline in motor claims numbers.

According to figures from the Compensation Recovery Unit, obtained by the Department for Work and Pensions (DWP) following a Freedom of Information request by ACSO, motor claims numbers in the second quarter of 2023 were the lowest on record for that three-month period, and the second lowest quarter ever.

It found that just 89,361 motor claims were issued between 1 April and 30 June, compared to 93,113 for the same period in 2022. Meanwhile, the figures were 159,417 and 146,844 in 2018 and 2019 respectively.

Matthew Maxwell Scott, Executive Director of ACSO, said, “The latest road-safety statistics do show slight – and very welcome – falls in casualty numbers. However, the falls of three per cent in fatalities and severe injuries and 11% in all injury types since 2019 are small compared to the 43% fall in motor claims numbers, from 654,000 in 2019 to 371,000 in 2022.

“The conclusion is that while people are still getting injured in regrettably large numbers on our roads, many are not seeking out the redress available to them, including the rehabilitation they might need. In a period of rapidly increasing motor insurance premiums, it is difficult to see how any of this is a win for consumers, especially injured ones.”

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