Non-life / Motor

Car jamming surges as festive season approaches

Used car prices are soaring, and it’s impacting your insurance

The demand for used cars has exploded since the start of the pandemic, thanks to a global semiconductor and microchip shortage, which has negatively impacted the availability of new cars. This has also led to soaring prices for second-hand cars, and now insured motorists could be paying the price.

Some insurer intermediaries derailing broader industry-level agreements

For some time now the South African Motor Body Repairers’ Association (SAMBRA), whose members are responsible for repairing over 80% of all insured repair claims in the country, have been advocating for insurer panels to open up as per the Guidelines to Competition in the South African Automotive Aftermarket (“the Guidelines”).

Renaissance Insurance teams up with Mains Lab to incorporate AI technologies to calculate damages when handling motor insurance claims – a first for Russia

Renaissance Insurance handles hundreds of insured events every day, and one of the essential elements of this process is calculating damages to vehicles.