London Market Brokers Prioritize Digital Insurers as Market Softens
Event summary
- 78% of London Market brokers say insurer technology is a decisive factor in risk placement.
- 24% of brokers cite outdated technology as the biggest impediment to London Market modernization.
- 51% of brokers report a shift toward algorithmic or fully digital underwriting.
- 78% of brokers are proceeding with their own technology strategies regardless of Blueprint Two timelines.
The big picture
The London Market is experiencing a strategic shift where digital capabilities are becoming a key differentiator for insurers. As the market softens, brokers are increasingly favoring technologically advanced insurers, signaling a broader industry trend toward efficiency and automation. This shift is driven by the need for stable, durable core operating platforms that can support the evolving demands of the market.
What we're watching
- Technology Adoption
- How insurers' investment in resilient digital platforms will affect their competitive positioning.
- Market Dynamics
- Whether the shift toward algorithmic underwriting will accelerate in a softening market.
- Integration Challenges
- The pace at which insurers can overcome legacy core constraints to enable seamless integration.
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