Will changes to the discount rate and whiplash claims fit down the chimney?

Some respondents to the Intelligent Insurer Christmas questionnaire had some pretty specific requests – especially the lawyers.

In the UK especially, a number of new pieces of legislation are waiting to be passed that could have a profound effect on some aspects of the industry. Nigel Teasdale, head of motor at law firm DWF, named three.

“Having waited relatively patiently all year, in my letter to Father Christmas I have asked for the legislation to be passed enacting the Government's proposed changes to the discount rate and whiplash claims. Let's see if he can fit those down the chimney…,” Teasdale said.

“Secondly, I would like to see a smooth implementation of GDPR across the industry. It is important that alongside protecting the rights of individuals we are able to maintain and if appropriate enhance the necessary databases that have been painstakingly developed over the years to counter insurance fraud.

“Failing that I'll settle for a driverless car. While continuing to work with insurers to help the Automated and Electric Vehicles Bill to progress through parliament, I'm excited by the new technology and would be keen to get behind the wheel.”

This is just a snapshot of what executives told us in our Christmas questionnaire. For the full comments from all 16 executives that took part in our survey, please click here.