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Aviation Sector Insurance Claims For Crashes And Collisions Total $15 Billion

ABC Staff
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Aviation Sector Insurance Claims For Crashes And Collisions Total $15 Billion
  • Analysis of 32,000 industry claims over five years shows crashes and collisions account for 63% of the total value and a third of all claims by number.
  • The expanding aviation sector is expected to see gross written insurance premiums (GWP) reach over $8 billion in 2024, the highest in 20 years.
  • Increasing aircraft repair costs and a shortage of mechanics are likely to impact future claims activity. Meanwhile, ‘air rage’ claims have significantly decreased.
  • Sustainability remains a major challenge for the industry, but new compliance measures may support progress in the green transformation.

Covid-19, the energy crisis, and Russia’s war have presented significant challenges to the aviation industry and its insurers. Nevertheless, the sector has made a strong recovery, with 2023 showing some of the best safety results on record. Global air passenger volumes are expected to reach an all-time high this year, up 10.4% year-on-year, with growth driven by the Asia-Pacific and North American regions. Despite the positive outlook, Allianz Commercial’s Aviation Risk, Claims, and Insurance Outlook highlights ongoing challenges.

The aviation sector is known for its high-value and high-profile claims within the global corporate insurance market. Analysis of over 32,000 industry claims from 2019 to 2024, totaling $15 billion (€14 billion), reveals that collision or crash incidents account for 63% of the claim value, while faulty workmanship or defective products account for 22%. In comparison, claims from natural catastrophes (4%), machinery breakdowns (3%), or fires (1%) constitute a smaller proportion of the total claim value.

“The aviation market is navigating a unique phase, disrupted by the pandemic and geopolitical conflicts,” says Tom Fadden, Global Head of Aviation at Allianz Commercial. “The sector’s ongoing expansion is set to drive premiums to a 20-year peak of over US$8 billion in 2024. We’re observing increased interest in multinational insurance and international placements across various business lines, driven by heightened geopolitical and regulatory concerns and a demand for well-managed insurance structures. However, insurers face ongoing challenges with well-documented losses and inflation affecting their profitability.”

In recent years, aircraft repair costs have risen significantly due to higher labor rates, increased parts prices, and inflation. The shift towards next-generation aircraft has further impacted claims, particularly in engine disassembly and repairs. Additionally, a shortage of skilled mechanics may affect future claims, as delays and inefficiencies could result in higher costs for parts replacement. The concern remains that these issues could lead to accidents, despite industry safety measures.

Cristina Schoen, Global Head of Aviation Claims at Allianz Commercial, notes that runway excursions are trending higher in 2024 compared to the previous year, with at least 23 reported globally from January to May, often due to weather and technical issues. Ground handling claims at major airports have also increased. While ‘air rage’ incidents have decreased since the pandemic, damage claims related to the rising demand for helicopter travel are on the rise.

The aviation sector, contributing around 2% of global emissions, is committed to reaching Net Zero by 2050. Despite the lack of a single solution for decarbonization, significant developments are underway. Sustainable Aviation Fuel (SAF) is gaining attention with new mandatory targets, and advancements in technology and innovations continue. The market for electric vertical takeoff and landing (eVTOL) aircraft is expected to grow, with the first insurance coverages for operational uses anticipated this year. However, the European Union’s Corporate Sustainability Reporting Directive (CSRD) and similar regulations worldwide, which require detailed ESG disclosures, could drive greater accountability and improvement in sustainability practices across the sector.

“Standardized reporting is expected to build investor and stakeholder confidence, highlight industry leaders in decarbonization, and enhance overall sustainability practices,” says Adam Tozzi, Head of Underwriting Global Tasks and Processes, Aviation, at Allianz Commercial.

“As Allianz approaches the 110th anniversary of issuing our first aviation insurance policy, we remain dedicated to managing volatility, selecting risks judiciously, and being a stable, long-term partner for our clients,” concludes Fadden.

Proving Fault in Bicycle Accidents: Key Elements for a Successful Claim

Josh Haines
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Proving Fault in Bicycle Accidents: Key Elements for a Successful Claim

Bicycle accidents can be life-changing events, often leaving victims with severe injuries and mounting medical bills.

If you’ve been involved in such an incident, you might wonder about your bicycle accident claim options. How do you prove who was at fault? What elements are crucial for a successful claim? We’re going to answer those questions in this post.

How Can You Prove Fault in a Bicycle Accident?

Evidence is one of the most critical elements when proving fault in bicycle accident claims.  Without it, your efforts to get compensation might go downhill fast.

The first thing you have to do is gather all the eyewitness testimonies. Sounds simple, right? But it’s often forgotten amid the chaos. Make sure you approach people who saw what happened and ask them for their accounts. Eyewitnesses’ words can make or break your case.

Documentation is another essential factor. Photographs, videos from traffic cameras, and even mobile phone recordings serve as solid evidence. They don’t just tell but show the story of what happened.

Police reports are also significant documents; they provide an official account and generally carry more weight in proceedings. Don’t forget medical records. These establish the injury’s severity—which plays a role in compensation, too.

We’ll dive deeper into these elements later in the post.

What If the Fault Is Disputed?

In cases where fault is a sticky subject, expert witnesses might be needed. For instance, accident reconstruction specialists can analyze the scene and clarify each party’s role in the incident. Their professional opinion can validate your claims or disprove baseless accusations from the other side.

Insurance companies will also conduct their own investigations—they’re in it to save money, after all. Expect their representatives to review every detail. They might even contact the eyewitnesses themselves. In such scenarios, your attorney’s guidance will be invaluable.

What Makes Documentation So Important?

Documentation serves as concrete proof that supports your narrative, making it less like a fairy tale and more like a solid news report. Begin with taking timely photographs. Imagine you’re a journalist capturing headlines; click pictures of road conditions, both vehicles if possible, and any pertinent road signs or signals close to the site.

Then come the medical records. Don’t underestimate this aspect. When dealing with bicycle accident claims, insurers scrutinize victim injuries meticulously. Your hospital bills, treatment reports, and prescriptions won’t just pile up as annoying paperwork—they’ll become ammunition that proves your case’s merit.

How About Police Reports?

Police reports add an unbiased layer of credibility to your claims. Law enforcement officers usually arrive at the scene, assess things, and compile information into a neat document called the police report. Think of it as a non-partial, third-party account that corroborates your point of view.

A police report typically includes the following from the involved parties:

  • Statements
  • Sketches of how the accident occurred
  • Sometimes even witness details

If you’ve been involved in an accident, always make sure to get this report filed and get a copy for yourself. Trust us; this piece of paper is gold when it comes to legal claims.

Legal Representation and Why It Matters

People often think hiring an attorney is akin to inviting Dracula into your finances—expensive and potentially draining. While there might be costs involved, it’s almost always worth it in bicycle accident claims cases. Attorneys understand how laws work inside out.

Specialized Knowledge

A specialized personal injury attorney brings years of dedicated experience to the table. They know courtroom tactics and insurance company tricks and have access to resources you likely don’t have on your own.

What’s more appealing than having an expert voice negotiating on your behalf? Even their ability to interpret complex legal jargon saves you from confusion and anxiety over paperwork.

Stress Alleviation

Legal battles are stressful for most—except for lawyers themselves. They live for it! By letting an attorney handle the case while you recover or go about daily life, you’ll find peace of mind sneaking back into your world little by little. Less worry means better mental health and quicker recovery from physical injuries as well.

Conclusion

Navigating a successful bicycle accident claim is about proving fault, impeccable documentation, and astute legal representation. Taking these steps diligently will significantly increase your chances of winning a satisfactory settlement. After all, who wants to pedal through life with constant stress hanging over your head? Focus on healing while experts handle the grind—what’s not to love about that?

Maker&Son Launches Circular Initiative for Eco-Friendly Sofa Solutions

Danielle
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Maker&Son Launches Circular Initiative for Eco-Friendly Sofa Solutions

Maker&Son, a leading name in sustainable luxury furniture, is proud to launch their Circular Initiative. This programme allows customers to donate or sell back their Maker&Son sofas, which will be refreshed and resold at a pre-loved price point.

This initiative aligns with Maker&Son’s commitment to creating lifetime products, focusing on extending the lifecycle of their sofas, reducing waste, and providing sustainable, high-quality furniture options. The Circular Initiative offers an eco-friendly solution, ensuring that Maker&Son’s craftsmanship and timeless design are accessible to a wider audience.

Bradley Coulson, Managing Director of Maker&Son, shared his excitement about the new initiative:

“At Maker&Son, we believe it is important to take responsibility for the items we produce. While all our furniture is built to last a lifetime, sometimes life changes and with it our living arrangements and the needs we have for furniture in our homes. We find that our sofas are often handed down or passed on through families and friends, and our new Circular Initiative provides a natural extension to this. By widening the opportunity to own a ‘pre-loved’ piece of furniture to new audiences over time we can prolong and future-proof the lifecycle of our sofas further as well as offer an alternative to buying new – with items being refreshed and resold at a lower price point than our newly made-to-order pieces.”

Olivia, Head of Product Development at Maker&Son, described the meticulous process involved in refurbishing each sofa:

“We take immense pride in creating long-lasting, timeless furniture using the highest quality natural materials and value the craftsmanship and time that goes into making each piece. As part of our work to create a more sustainable landscape within the luxury furniture industry, we are continuously exploring new and innovative ways to extend the use of our furniture wherever possible. Through our Circular Initiative, we ensure that every item sent to us is carefully inspected, restored, and refreshed to meet our exacting standards. This process will allow us to maintain the high quality and unparalleled levels of comfort that our brand is known for well into the future.”

Starting from September 2024, customers interested in participating in the Circular Initiative can register their existing Maker&Son sofas for evaluation. Approved sofas will undergo a comprehensive refurbishment process and be made available for purchase on the Maker&Son website.

For more information on the Circular Initiative, visit makerandson.com or contact the UK team at newenquiries.uk@makerandson.com or call 0800 808 5408.

Baldwins Travel Earns Regional and National Recognition in 2024 Awards

Danielle
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Baldwins Travel Earns Regional and National Recognition in 2024 Awards

Baldwins Travel is thrilled to announce that it has been honoured with two significant awards at the Travel Weekly Agent Achievement Awards this year. The company was named Travel Agent of the Year for London and South East England 2024 and Small High Street Agency of the Year 2024.

The awards ceremony, held at the Westminster Park Plaza Hotel in London, featured Nick Marks, the Managing Director, and nine team members from Baldwins Travel. The group was ecstatic to receive recognition both regionally and nationally, showcasing their unwavering dedication and hard work. Baldwins Travel is thrilled to announce that it has been honoured with two significant awards at the Travel Weekly Agent Achievement Awards this year. The company was named Travel Agent of the Year for London and South East England 2024 and Small High Street Agency of the Year 2024.

Nick Marks expressed his excitement, saying, “We are thrilled to have won these awards not only for our region but also at a national level. We are passionate about travel, expanding our high street presence in the last 10 months with new branches open in Haywards Heath, Westerham, and Grantham! The awards are a testament to the hard work and dedication of ALL our team. Winning these coveted awards is truly amazing, and these awards are wholly theirs.”

The Travel Weekly Agent Achievement Awards are recognised as the premier event for celebrating excellence in the travel sector in the UK and Ireland. These awards honour the best in the industry, celebrating outstanding achievements across various categories and specialisations.

The prestigious event, attended by over 700 guests, was hosted by radio and TV personality Jordan North, along with Travel Weekly’s editor-in-chief Lucy Huxley. Sponsored by Celestyal, the winners were determined through votes from travel industry suppliers such as tour operators, airlines, cruise lines, and tourist boards, with expert panels adjudicating certain categories.

Travel Weekly is a leading multimedia company and magazine in the UK travel industry, known for its comprehensive coverage in print, digital, and event formats.

Dave Antrobus: AI Innovations in Healthcare Delivery

Danielle
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Dave Antrobus: AI Innovations in Healthcare Delivery

By 2030, artificial intelligence might add up to £22 billion to the UK’s healthcare. This shows how AI can change medical services. Dave Antrobus, from Inc & Co, leads this change. He’s using AI to shape the future of healthcare in the UK.

Healthcare systems face growing demands. Dave Antrobus uses tech to make healthcare better and more efficient. He’s not just updating systems; he’s changing how healthcare is delivered. His work with AI is making healthcare more accessible and sustainable.

Introduction to Dave Antrobus and His Vision

Dave Antrobus is a leading name in healthcare technology. His deep knowledge of tech and healthcare has led him to change how we think about medical services. In the UK, he’s helped shape the way digital health is viewed and used.

He’s always looking for new ways to innovate, acknowledged by top publications like The Guardian, The Independent (UK), and The New Statesman. Winning awards such as the Publishers Weekly Best Nonfiction Books of 2021, shows his dedication to advancing healthcare tech.

Dave sees a future where artificial intelligence (AI) plays a big part in healthcare. He believes AI can make treatment better, speed up services, and unlock new understanding from medical data. His ideas are practical, aiming to solve today’s issues in the UK’s healthcare.

His strategy uses AI to make healthcare more effective, personal, and within reach for everyone. Antrobus works with top medical and tech partners to bring these ideas to life. His efforts are not just about guessing the future; they’re about creating it to make sure AI benefits the UK’s health services. He is a beacon of innovation in medical tech.

The Role of AI in Modern Healthcare

Artificial intelligence is changing modern healthcare. It helps doctors in ways like never before. AI improves how patient care and health management work.

AI shines in patient care. It looks through lots of medical data quickly. This helps find diseases early and plan treatments that suit each person. It’s a big step towards better care in the future.

AI also makes medical solutions better. Robots do surgeries with extreme care, making fewer mistakes. AI helps in telemedicine too. It lets doctors see patients from far away, reaching those in need.

AI makes daily medical tasks better by using resources wisely. It does routine tasks, so healthcare workers can spend more time with patients. This cuts costs and makes patients happier. AI also helps in making quick, smart decisions in treatments.

The influence of AI in healthcare is growing fast. It’s leading to care that is more effective and efficient. With new tech, healthcare is heading towards a big change for the better.

AI Innovations by Dave Antrobus in Healthcare Delivery

Dave Antrobus has made big changes in healthcare using AI technology. He has developed AI tools that make medical tests more accurate. These tools are especially good at finding rare diseases. They helped people like Natalie Boyce, who deals with lupus and other health issues.

Dave Antrobus‘s work makes healthcare faster and more effective. AI doesn’t just help with diagnosing; it also helps with treatment plans. It can foresee complications, letting doctors help patients sooner. This was helpful in tricky situations, like Paris Hedger’s heart surgery, where AI guided care before and after the operation.

Moreover, Antrobus is improving how we do patient care from afar with AI telemedicine. This technology keeps an eye on patients all the time. It helps with long-term illness and recovery after surgery. With these new tools, patient care is getting better around the world. Dave Antrobus is leading a major change in how we provide healthcare today.

Impact of AI on Patient Care and Outcomes

Artificial Intelligence (AI) is transforming healthcare. It’s making a real difference in how patient care is improved. Innovators like Dave Antrobus lead this change. They show us how healthcare benefits from technology.

One big win with AI is in customised care. It means treatments are designed just for you. This approach greatly improves medical care and the happiness of patients.

AI is also making diagnostics and treatment plans better. It uses machine learning to spot patterns in huge data sets. Patterns that doctors might miss. This leads to finding diseases earlier, which means a better chance of getting well.

AI helps doctors spend more time with patients. It takes care of admin tasks, boosting the quality of care.

AI predicts health problems before they get worse. It’s about keeping you healthy before issues become serious. This proactive care is changing how we address health concerns. It makes sure hospitals use their resources well. So, waiting times drop and patient experiences get better.

Tools powered by AI are key for remote care and telemedicine. They’re crucial in places where it’s hard to get healthcare. This way, more people can get the care they need, no matter where they live.

To wrap it up, AI’s role in healthcare is massive. Thanks to leaders like Dave Antrobus, the future of patient care looks bright. With ongoing innovation, AI will continue to improve how we get medical care and shape the future of healthcare.

Challenges in Implementing AI in Healthcare Delivery

Introducing artificial intelligence (AI) into healthcare meets many challenges, from tech issues to budget limits. A key difficulty is merging this new tech into existing health systems. This often means big changes and lots of investment in both equipment and training staff to use AI properly.

There’s also a natural resistance to new methods among some healthcare workers. They may stick to what they know instead of trying something new. Plus, using AI must always consider how to keep patient data safe and private.

For smaller healthcare setups, the cost of AI is a big barrier. There are expenses like setting everything up, keeping it running, and regular updates. All of these costs can make it tough for them to take the plunge into AI.

Then, there are the practical issues of fitting AI into existing healthcare operations. It’s essential to mix AI smoothly with old systems without messing up patient services. This can often be tricky and take a lot of time.

Another big concern is making sure AI is fair and keeps patient information confidential. It’s vital to have strong rules to make sure AI does not become biased. And that it respects everyone’s privacy, keeping the trust of patients.

In summary, bringing AI into healthcare isn’t easy. There are many technical, financial, logistic, and ethical issues to solve. But overcoming these challenges is crucial for improving healthcare services and incorporating AI successfully.

Future of AI in Healthcare: Predictions by Dave Antrobus

Dave Antrobus has a vision for healthcare’s future, seeing AI at the heart of it. By 2022, hospitals are using more AI solutions, showing a big leap in medical tech investment. Antrobus believes this trend in AI usage will grow, improving healthcare and making it more efficient within five years.

He says new medical technologies powered by AI will change how we manage health. AI tools in diagnostics are already boosting patient care, making fewer errors, and giving personalised treatments. These advanced options, like the treatment for Paris Hedger’s rare lung condition, are more effective than traditional methods.

In Hedger’s case, AI was key in her complex surgery after an injury. It helped surgeons predict problems and improve their methods, leading to a safer 10-hour operation. AI platforms also make surgeries more efficient, focusing on patient safety and quicker recovery.

Dave Antrobus also points out that AI can make healthcare cheaper compared to traditional hospitals. The cost savings and AI’s ability to predict health trends are becoming more important. More healthcare professionals are starting to use AI, which could make patient care better and more engaging by 2023.

In summary, Antrobus’s predictions highlight how AI will change healthcare. It pushes medical technology forward and supports active health management. This means a future where healthcare is always evolving to better meet patient needs.

AI in Healthcare Delivery: Shaping the UK’s Medical Sector

AI technology is transforming UK healthcare in big ways. It brings faster tech growth and new solutions to improve patient care. This leads to better and quicker diagnosis, treatment, and admin tasks.

The UK is seeing big changes with AI in healthcare. It’s making patient care better and helping the medical sector grow. AI streamlines tasks and solves problems with more precision, making health services better for the future.

AI is especially good at analysing big data in healthcare. It finds patterns in medical data, helping doctors make better decisions. AI also predicts health issues before they happen, allowing for fast action.

AI also helps with healthcare strategies and policies. It’s helping solve big issues in the UK healthcare system. Thus, more investments and policies are coming up to support AI in healthcare. This is creating a better and more advanced healthcare sector.

What’s more, this tech push is opening doors for new partnerships. Different groups in healthcare are working together on AI projects. This teamwork is key to continuous progress and keeping the UK a leader in global healthcare.

To sum up, AI’s role in the UK’s healthcare is huge. It’s changing how healthcare works, leading to advancements, and helping the sector grow. This shift is crucial for a future with better healthcare for everyone.

Collaborations and Partnerships for AI Integration

Joining forces between tech giants and health institutions is key for AI in healthcare. This partnership brings together vast knowledge, sparking innovation and progress. Teams can tackle AI health challenges better together. For example, Delta Sharing’s launch in 2022 led Atlassian and Nasdaq to share data easier with others. This made data sharing in healthcare simpler and boosted teamwork across different fields.

Oracle now shares data openly thanks to Delta Sharing, helping customers get the data they need easily. Databricks’ D2O Delta Sharing also makes data sharing smooth, aiding AI in healthcare decisions. Atlassian’s success with Databricks’ open-source protocol shows that combining efforts can solve data sharing issues. This improves the outcomes in healthcare. Furthermore, companies use OSS connectors like Python and Microsoft Power BI to enhance collaboration in healthcare. The Tableau Delta Sharing connector, for instance, improves data flow between Databricks and Tableau. This not only boosts efficiency but also pushes AI healthcare projects ahead. These strategic collaborations are changing the way data is shared and used, highlighting teamwork’s role in healthcare’s future. By bringing together different skills and working as one, AI’s role in healthcare look more promising than ever.

Case Study: AI Implementation at Leighton Hospital

Leighton Hospital stands out in NHS trust innovation by including artificial intelligence in its care. This AI case study highlights how it has boosted efficiency and patient care.

Leighton Hospital has made progress with computer vision for spotting Lyme disease ticks, according to Akbarian et al. (2022). This shows AI’s potential to ease healthcare providers’ workload and make diagnosis quicker.

The hospital also uses deep learning to compare DNA for conditions like monkeypox, say Alakus & Baykara (2022). These efforts show the UK’s innovation and strengthen Leighton’s healthcare leadership.

Alsahli et al. (2021) reviewed AI’s use in keeping patient data safe during pandemics through edge computing. This improves Leighton Hospital’s outbreak management while protecting privacy.

The hospital’s buildings are being strengthened with autoclaved aerated concrete (RAAC). This investment is vital for safer NHS facilities, according to government reviews of NHS project.

Leighton Hospital applies machine learning to watch and predict seasonal outbreaks using Twitter, notes Amin et al. (2021). This clever AI use demonstrates healthcare can prevent health crises proactively.

The hospital’s commitment to health service improvement mirrors wider trends for disease management noted by Banda et al. (2022). Its innovative approach offers a model for other institutions seeking healthcare excellence.

Conclusion

The journey through AI’s role in healthcare, led by Dave Antrobus, shows its big impact. Antrobus has been a key player, bringing AI to places like Leighton Hospital. His work combines AI with healthcare, improving patient care in the UK and beyond.

This article’s view on the future of healthcare with AI is quite hopeful. It shows that AI can bring better, data-driven methods to help doctors and nurses. Though there are hurdles, the efforts of Antrobus and his team are moving us towards better healthcare through AI.

As AI gets more advanced, the benefits for patient care keep growing. The successes seen in appointments and finances show the strong leadership of people like Antrobus. With AI slowly becoming part of healthcare, the UK is moving towards being a leader in quality medical care.

Ascot Mortgages: Trusted Expertise in the UK Mortgage Industry

Danielle
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Ascot Mortgages: Trusted Expertise in the UK Mortgage Industry

Ascot Mortgages is a premier mortgage advisory service located in Warrington, UK. With a steadfast commitment to providing personalised mortgage and protection advice, Ascot Mortgages ensures that every client receives tailored solutions to meet their unique financial needs. The company’s ethos is built on trust, expertise, and a client-centric approach, making it a reliable choice for those seeking mortgage advice.

A Remarkable Career Spanning 48 Years

Alison Gibson, the esteemed director of Ascot Mortgages, boasts an impressive 48-year career in the UK mortgage industry. Starting as a young school-leaver, Alison’s journey from an enthusiastic banking novice to a highly respected expert highlights her unwavering dedication to her profession and clients.

Educational Background and Certifications

Alison’s path to expertise began at 16, diving into the banking world straight out of school. Over the years, she accumulated critical certifications, including the CeMAP (Certificate in Mortgage Advice and Practice) and CeRER (Certificate in Regulated Equity Release). These qualifications underpin her deep understanding of the mortgage landscape.

Diverse Expertise Across Mortgage Sectors

Throughout her illustrious career, Alison has worn many hats: Banking Adviser, Mortgage Adviser, and Bank Manager. Her extensive experience covers various sectors, including:

  • Residential Mortgages
  • Buy-to-Let Mortgages
  • Bridging Loans
  • Commercial Mortgages
  • Equity Release (her specialty)

Commitment to Customer Satisfaction

Alison’s greatest pride lies in her dedication to customer satisfaction. She believes that a client’s happiness is the ultimate testament to her success. This client-first approach ensures that Alison provides the best advice and support, always prioritising her clients’ needs.

Recognised Industry Leader

Alison’s expertise has earned her national recognition. She has appeared on the Martin Lewis Money Show, offering her insights to a broader audience. Additionally, she is a proud member of the LIBF (London Institute of Banking and Finance) and the NACFB (National Association of Commercial Finance Brokers), reflecting her commitment to professionalism and ethical standards.

Staying Ahead in the Industry

Alison remains informed about the latest developments in UK mortgage laws, regulations, and market trends. She actively participates in BDM (Business Development Manager) meetings with lenders, attends seminars, and stays updated through FCA (Financial Conduct Authority) newsletters and professional publications.

A Lifelong Career Aligned with Personal Values

Choosing banking as a career from a young age, Alison’s personal values align perfectly with her professional approach. She is driven by a passion for exceptional customer service and a commitment to helping clients realise their dreams.

Life Beyond Finance

Outside of her professional life, Alison cherishes time with her family, especially her two grandsons. Her energetic 6-month-old cockapoo keeps her active, and she enjoys watching movies in the cinema. Holidays in the sun provide her with the perfect recharge, enabling her to return to work with renewed energy.

Inspiring Journey of Dedication

Alison Gibson’s journey from a young banking enthusiast to a seasoned Mortgage and Protection Adviser exemplifies her dedication to her clients and her craft. With nearly five decades of experience, she continues to make a positive impact in the UK mortgage industry, one satisfied client at a time.

Why Choose Ascot Mortgages?

Choosing Ascot Mortgages means choosing a team that puts your needs first. With Alison Gibson at the helm, clients are assured of expert advice, personalised service, and a commitment to their financial well-being. Whether you need assistance with residential mortgages, buy-to-let investments, or equity release, Ascot Mortgages is here to guide you every step of the way.

For more information, visit Ascot Mortgages and learn how Alison Gibson and her team can assist you with your mortgage needs.

Ferobide – Reducing operating costs in Agriculture, Construction and Mining

Josh Haines
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Ferobide – Reducing operating costs in Agriculture, Construction and Mining

Tenmat, a leading manufacturer of advanced materials and components, has a range of world-renowned composite and polymer materials, including Ferobide, Feroform, Feroglide, Ferosafe and Railko. 

Ferobide is a highly effective solution for reducing operating costs in the agricultural, mining and construction sectors.

This tungsten carbide composite is one of the most wear-resistant materials in the world, it is already trusted globally as a reliable solution for minimising equipment downtime. By preventing wear part damage, Ferobide is able to deliver lasting results which minimise equipment downtime and therefore aid in decreasing operating costs. 

Ferobide in Farming

Farmers who utilise Ferobide can experience dramatic savings by extending the life of their equipment, reducing the need for frequent replacements and repairs. 

For instance, implementing Ferobide has allowed some farms to extend the service life of cultivator wings and legs by several seasons, cutting down metal wear expenses by up to two-thirds. This not only minimises downtime but also boosts overall operational efficiency and profitability.

When used on soil-engaging equipment parts, Ferobide enhances durability against abrasive soil conditions, which can significantly decrease the frequency of part replacements. 

A case study involving sugar cane mills showed that equipment outfitted with Ferobide experienced less wear compared to traditional hard-facing materials, leading to longer operational periods between maintenance shutdowns.

Ferobide in Construction and Mining

In the mining and construction industries, Ferobide has proven effective in increasing the lifespan of equipment parts exposed to extreme wear and tear.

In mining operations, Ferobide is used on drilling equipment to enhance durability against the harsh, abrasive conditions found underground. This results in fewer drill bit replacements and reduced downtime.

In construction, Ferobide can be applied to loader buckets and other machinery that frequently contacts abrasive materials like gravel and crushed rock. This application significantly extends the service life of these high-wear parts, leading to lower maintenance costs and less frequent equipment replacements.

The Benefits of Ferobide 

When used correctly and welded onto suitable surfaces, Ferobide has numerous benefits, which include: 

  • Significant savings on wearing metal costs
  • Increased wear part lifetime
  • Reduction in machinery downtime for maintenance
  • Increased operational efficiency due to a reduction in downtime
  • Quick and easy to weld

For additional information, please contact Tenmat directly. 

https://tenmatwear.com/contact-tenmat

ThetaRay Transforms AI Financial Crime Detection with Screena Acquisition

ABC Staff
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ThetaRay Transforms AI Financial Crime Detection with Screena Acquisition

The acquisition marks a significant milestone in ThetaRay’s mission to leverage AI in combating financial crime.

As a leading comprehensive, cloud-based financial crime detection platform, ThetaRay empowers financial institutions to identify trusted transactions and customers across all banking activities. This innovation recently earned ThetaRay an award for Best Use of Data for Human Trafficking and Modern Slavery Detection, in collaboration with Santander UK.

ThetaRay, the leading provider of AI-powered financial crime detection technology, has announced the acquisition of the next-generation European screening company, Screena. This acquisition underscores ThetaRay’s commitment to investing in proprietary technology and solidifies its mission to help banks, fintechs, and regulators detect financial crime using state-of-the-art AI solutions.

Screena assists financial institutions in preventing wrongdoing without impacting legitimate parties by screening individuals, companies, and other entities against numerous sanctioned party lists. This ensures compliance with international laws and regulations, while promoting global trade, protecting reputations, and enhancing financial security.

ThetaRay, operational in over 40 countries across six continents, is evolving from a leader in AI-powered Transaction Monitoring solutions to a comprehensive, cloud-based financial crime detection platform used by over 100 financial institutions, including Santander, Payoneer, and Travelex. This strategic acquisition integrates Screena’s advanced, cloud-based AI-driven screening solution into ThetaRay’s product suite, offering financial institutions an unparalleled, holistic view of transactional and customer screening risks.

ThetaRay’s clients can detect various financial crimes such as money laundering, terrorist financing, and drug trafficking. Recently, in a global effort to combat modern slavery, Santander UK partnered with ThetaRay to deploy advanced technology aimed at detecting human trafficking within financial transactions. This collaboration was honored with the “Best Use of Data for Human Trafficking and Modern Slavery Detection” award at the Digital Transformation Awards in June 2024.

ThetaRay’s product suite ensures that financial institutions can quickly and effectively comply with complex regulatory requirements. Additionally, ThetaRay facilitates seamless customer onboarding and transaction flows, enabling companies to scale rapidly and seize business opportunities while fostering growth across diverse business lines.

“The acquisition of Screena is a significant milestone for ThetaRay as we continue our mission to power the global fight against financial crime by enhancing our offerings with the most advanced AI capabilities. It furthers our commitment to delivering an end-to-end platform that enables banks, fintechs, and regulators to effectively identify financial crime – vital capabilities to grow and operate a financial institution today,” remarked Peter Reynolds, CEO of ThetaRay. “The recent launch of our Customer Risk Assessment (CRA) product this year and the mass adoption of our leading Transaction Monitoring offering demonstrates both a clear need in the market and our proven ability to build pioneering solutions. We are delighted to have closed our first acquisition, bringing key capabilities and further establishing our already rapidly growing presence in Europe.”

“The need for international, cross-border payments, and business corridors between Europe and Africa, South America and the US, and many locations around the world requires the use of AI and advanced technology to make sure that the transactions are trusted, and that the people behind them are trusted,” said Erel Margalit, Chairman of ThetaRay, and Founder and Chairman of JVP. “ThetaRay’s AI also establishes a highway for the good actors that require an international payment network to do their business. The acquisition of Screena advances the ability to identify bad actors, whether it’s money laundering, drug trafficking, or terrorist financing in a much more pointed way. This move is a testament to ThetaRay’s mission of thwarting financial crime and continuously enhancing capabilities to win this critical fight on our journey to becoming a category leader.”

Cédric Iggiotti, CEO of Screena, stated, “Integrating with ThetaRay has been a game-changer for us at Screena, revealing the true potential of combining Transaction Monitoring, Screening, and Customer Risk Assessment. For too long, screening was siloed from other critical financial crime detection tools. Our partnership with ThetaRay not only meets stringent regulatory demands but also significantly enhances our crime detection capabilities, as evidenced by our recent successes with major financial institutions. Looking ahead, we are excited to push the boundaries of what’s possible in building a more trustworthy financial ecosystem.”

Logistics Sector Begins To Normalise Following Post-Pandemic Surge

ABC Staff
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0
Logistics Sector Begins To Normalise Following Post-Pandemic Surge

Global Logistics sector shows signs of normalisation after post-pandemic boom

  • · UPS is the most valuable logistics brand ranked for a decade, valued at USD34.6 billion
  • · JR remains strongest logistics brand ranked, followed by JINGDONG Logistics and MTR
  • · CPKC’s brand value surges by 28% while DoorDash and dpd trail behind
  • · UPS has the highest Sustainability Perceptions Value at USD3 billion and also holds the Highest Positive Gap Value at USD224 million

This year, the logistics industry is showing signs of normalization following the post-pandemic boom, according to a new report by Brand Finance, the world’s leading brand valuation consultancy. Leading logistics brands like UPS and FedEx have reported lower shipment volumes and reduced consumer spending compared to the high-demand periods immediately after the pandemic.

Despite this trend, the Brand Finance Logistics 25 2024 ranking is still led by UPS, which retains its position as the most valuable logistics brand for the 10th consecutive year, with a brand value of USD34.6 billion (down 2%). FedEx follows as the second-most valuable brand, with a brand value of USD28.6 billion (down 1%), and Germany’s DHL is third, valued at USD12.2 billion (down 3%).

Japan-based JR remains the strongest global logistics brand, despite a 14% drop in brand value to USD11.9 billion, earning a AAA rating and a Brand Strength Index (BSI) score of 86.9 out of 100. China’s JINGDONG Logistics (JD Logistics or JDL) is the second strongest, with a 1% rise in brand value to USD3.5 billion, improving its brand strength rating from AA+ to AAA and scoring 85.2 out of 100 in its BSI. MTR ranks third, with a 3% decline in brand value to USD3.5 billion, retaining its AAA- rating and obtaining a BSI score of 83.1 out of 100.

Richard Haigh, Managing Director of Brand Finance commented:

“Despite the cooling demand and inflationary pressures we’re seeing this year, the logistics industry is showing remarkable resilience and strategic adaptation.    
“As the market transitions in the post pandemic era, shaped by overcapacity, shifting consumer demands and geopolitical tensions, industry titans epitomise excellence and visionary leadership to remain competitive.” 

Brand Finance also utilises its Global Brand Equity Monitor (GBEM) research to compile a Sustainability Perceptions Index. The study determines the role of sustainability in driving brand consideration across sectors and offers insight into which brands global consumers believe to be most committed to sustainability.

For individual brands, the Index displays the proportion of brand value attributable to sustainability perceptions. This Sustainability Perceptions Value is the financial value contingent on a brand’s reputation for acting sustainably. From here, Brand Finance’s perceptual research is analysed alongside CSRHub’s environmental, social and governance performance data to determine a brand’s ‘gap value’. This is the value at risk or to be gained, based on the difference between sustainability perceptions and actual performance.

The 2024 Sustainability Perceptions Index finds that in the logistics sector, UPS has the highest Sustainability Perceptions Value of USD3 billion and the highest positive gap value of USD224 million among brands in the rankings. A positive gap value means that brand sustainability performance is stronger than perceived: brands can add value through enhanced communication about their sustainability efforts, so that perceptions are raised to fully account for the brand’s actual sustainability performance. UPS’s gap value suggests that it could generate an additional USD224 million in potential value through enhanced communication of its impact and accomplishments in sustainability.

 

What the Treasury’s Decision to Phase Out 1p and 2p Coins Means for SMEs

ABC Staff
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0
What the Treasury’s Decision to Phase Out 1p and 2p Coins Means for SMEs

Following the Treasury’s announcement to halt the production of new 1p and 2p coins from The Royal Mint this year, concerns have arisen about the potential extinction of copper coins. Although a Treasury spokesperson assured that the coins are not being phased out entirely, many are anxious about the impact on cash-dependent businesses.

SumUp, experts in card payments, are emphasizing how traditionally cash-reliant industries have successfully integrated card payment options. They highlight that cards and cash can coexist without one needing to replace the other.

Are People Still Using Cash?

For businesses dependent on cash transactions, there is no need for immediate concern. SumUp’s analysis of recent YouGov data indicates that 29% of Brits still frequently make cash payments, with 7% almost always using cash. Only 8% of adults reported never using cash.

The data reveals that both the 18-24 and 65+ age groups are the most likely to almost always pay in cash, at 8%. Additionally, men are more likely than women to use cash, with 9% of men almost always paying in cash compared to 6% of women.

How Cash-Dependent SMEs Can Incorporate Digital Payments

To enhance efficiency, reduce costs, and cater to a wider customer base, cash-reliant businesses can adopt the following digital payment methods:

  • Point of Sale (POS) Systems: Invest in modern POS systems that accept credit/debit cards and contactless payments, including NFC methods.
  • Mobile Payment Solutions: Utilize mobile payment apps to accept payments via smartphones and tablets.
  • Online Invoicing and Payments: Offer online invoicing with integrated payment options.
  • QR Code Payments: Implement QR code payment options, displaying QR codes at checkout or on receipts for customers to scan and pay using mobile banking apps or digital wallets.
  • eCommerce Platforms: Set up an eCommerce website or use platforms to facilitate online sales and digital payments.
  • Payment Links: Send payment links via email or SMS, enabling customers to click and pay through a secure online portal.

These digital payment methods can help businesses adapt to the evolving payment landscape while maintaining the option of cash transactions.

Corin Camenisch, Product Marketing Lead at SumUp, discusses how SMEs can adopt card payment methods alongside cash to align with consumer spending habits: “We won’t see previously cash-reliant industries die; we will just see them innovate. Businesses need to adapt to work in the digital environment as well as cash. Offering both payment options will only help your business and cater to all customer payment preferences.”

8 cash-reliant businesses that have successfully adopted card payment

SumUp also highlights that many businesses and sectors have successfully embraced card payments to meet changing consumer preferences and increase sales by accommodating customers who prefer not to carry cash, such as:

  1. Taxis: Traditional taxi services have widely adopted card payments,
  2. Street vendors and food vans: Many now accept card payments through mobile point-of-sale systems.
  3. Market stalls: Vendors at local markets increasingly offer card payment options.
  4. Small local shops and convenience stores: Many have transitioned from cash-only to accepting cards.
  5. Vending machines: Modern vending machines often accept card payments and cash.
  6. Parking meters: Many cities have upgraded to systems that accept card payments for parking.
  7. Public transport: Buses in many cities and towns now offer card-based payment options.
  8. Barbers and hairdressers: Many small, independent salon businesses now accept card payments.

Adopting mobile payment technologies and point-of-sale systems has facilitated this transition for many small businesses and individual vendors.

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