Insurance

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/Insurance

Tesco Bank adds price comparison engine to insurance quotes

UK supermarket bank Tesco is to offer customers the option of using its own brand price comparison service to rate home and insurance quotes served up by the retailer's online banking portal against competitor offerings.

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HSBC Insurance taps IBM for Solvency II compliance

HSBC's UK insurance business has selected IBM to help it develop and roll out a business analytics system ahead of upcoming European Solvency II legislation.

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Anonymous posts leaked Bank of America e-mails

A member of the online collective Anonymous has published e-mails it was handed by someone claiming to be a former Bank of America employee that purport to show the suspect removal of mortgage insurance information from databases.

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Standard Life to acquire Focus Solutions

Standard Life has made a recommended £42 million bid for UK AIM-listed financial technology supplier Focus Solutions.

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Insurer warns social media users of burglary risks

Churchill Home Insurance has warned customers not to advertise their whereabouts on social media sites for fear of driving a big increase in house burglaries.

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RBS to axe 400 Direct Line jobs - BBC

The Royal Bank of Scotland's Direct Line insurance unit will today tell around 400 staff at its Glasgow offices that their jobs are being axed, according to the BBC.

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FSA fines Zurich £2.275m over customer data loss

Zurich Insurance's UK arm has been hit with a record £2.275 million fine from the Financial Services Authority (FSA) over the loss of a backup data tape containing the details of 46,000 customers.

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Lloyds axes another 650 jobs

Lloyds Banking Group is cutting 650 permanent, full time jobs and axing more contractors and temporary staff as part of its latest shake-up.

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Swift insurance industry project 'dead in the water'

Interbank co-operative Swift's bid to break into the insurance business has been put on ice, after reinsurers proved unwilling to invest in the creation of a new electronic trading platform.

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Risk management weaknesses at finance firms persist - EIU survey

Many of the flaws in risk management at banks and insurers that precipitated the global financial crisis remain unaddressed even as new dangers have emerged, according to research from the Economist Intelligence Unit.

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Social media users warned of insurance hikes

People who use social media tools that can reveal their location, such as Twitter, Facebook, Foursquare and Buzz, could face hikes in home insurance premiums, according to price comparison site Confused.com.

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Lloyds sells 70% esure stake to founder Wood

Lloyds Banking Group has agreed the sale of its 70% stake in esure to the online insurer's founder and chairman Peter Wood for around £185 million in cash.

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More Th>n launches car crash app for iPhone

UK direct insurance outfit More Th>n has developed a Car Claim iPhone application that helps motorist capture third-party details at the scene of a traffic accident.

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Tesco Bank creates 1000 customer service jobs

The banking arm of UK retailer Tesco is creating 1000 jobs in Newcastle with the opening of a new customer services centre.

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Zurich loses personal data of 51,000 UK customers

The UK arm of insurance giant Zurich has lost a back-up tape containing the personal data of around 51,000 customers.

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Insure.com name and site sold for $16m

A US insurance broker has sold its insure.com corporate and domain names, and related "media assets", for $16 million to marketing outfit QuinStreet.

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Lloyds cuts 200 insurance jobs

Lloyds Banking Group is cutting 200 back office positions at its general insurance unit, taking the total number of jobs axed this year to 7500.

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RSA expands Accenture application outsourcing deal

UK insurance group RSA has expanded its application outsourcing agreement with technology consultancy Accenture.

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Tesco and Fortis in insurance talks

UK supermarket chain Tesco is continuing to ramp up its challenge to traditional banks, entering into exclusive discussions with Fortis over a partnership to provide motor and household insurance.

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Aviva Australia introduces voice biometrics

Aviva Australia has rolled out voice biometric authentication technology from Salmat VeCommerce in a bid to improve customer security and communication.