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The InsurTech paradox: opportunities for insurers

While insurers focus heavily on AI chatbots and automating claims processes, research shows they could be overlooking a more significant opportunity, using digital platforms to access previously inaccessible customers. New digital platforms and distribution channels now make it possible for insurers to reach customers instantly with relevant products that offer coverage tailored to specific moments or events. The InsurTech market is projected to grow from $25.97 billion to $609.50 billion by 2034 (Precedence Research: Insurtech market size, share, and trends 2025 to 2034), representing a staggering 37.10% compound annual growth rate. In the UK specifically, the InsurTech market is expected to reach $49.51 billion in 2025 and grow at a CAGR of 8.52% to reach $74.41 billion by 2030 (Mordor Intelligence: UK InsurTech market size and share analysis). This isn't growth in traditional insurance sold slightly better. It's billions in new premium from micro-policies, embedded coverage, and on-demand insurance that were previously impossible to distribute economically. Previously, the administrative cost of selling and servicing these products exceeded the premium. Now, automation and embedded distribution have flipped the economics entirely.However, growth isn’t evenly distributed, the market is splitting into distinct lanes each with different economics, customers, and profit models. Some segments are growing at 15%, others at 40%. The companies winning are those picking the right lane, not just accelerating. The question isn't whether to adopt Insurtech, it's which segment insurers should focus on before their competitors do.The protection gapThe global protection gap is projected to reach $1.86 trillion in 2025 (PWC: Protection gap could reach US$1.86tn by 2025, with Asia-Pacific region accounting for almost half of all uninsured risk). That's nearly $2 trillion in insurable risk, which remains inaccessible through conventional distribution channels. This isn't a market failure, it's a distribution inefficiency masquerading as a product problem.The innovation needed isn't in creating better insurance products, it's ensuring customers are able to access adequate coverage precisely when they need it. Where smart money is movingThe embedded insurance market is projected to reach $210.90 billion with a CAGR of 35.14% (FinTech Global: What is embedded insurance 2.0?), which is faster growth than the broader InsurTech market, because embedded insurance solves distribution. When someone books a flight, rents a car, or buys a phone, they're already in a transaction mindset. Research shows that 70% of digital bank customers are interested in receiving insurance offers embedded within their banking services, compared to 44% of traditional bank customers (FinTech Global: What is embedded insurance 2.0?).For insurers and brokers in 2026, this creates three distinct opportunities:1. Partnership economics have flippedFive years ago, insurers paid FinTechs to distribute their products, but now the negotiating power has shifted, with established digital platforms actively seeking insurance partners to enhance their value proposition. The UK is widely recognised as a leading InsurTech market at the forefront of innovative developments including parametric insurance, making it a prime testing ground for these partnerships.2. Specialty lines are outpacing other areas Specialty lines, encompassing cyber, pet, marine, and travel insurance, are forecast to expand at a 19.34% CAGR through 2030 (Mordor Intelligence: UK InsurTech market size and share analysis), signalling faster growth than traditional property and casualty. In the UK, companies like Zego (commercial vehicle insurance), Marshmallow (motor insurance for diverse communities), and ManyPets are leading the charge. These products are perfectly suited for embedded distribution because they're event-driven and purchase-specific. 3. The broker model is being reinvented, not eliminatedContrary to popular belief, technology isn't replacing brokers, it's changing what they broker. Specialty brokers are described as "the connective tissue of the global insurance market" (Insurance Times: Briefing: Protection gap warning poses real questions for UKGI) and remain central to closing the innovation gap. The firms winning in 2026 will be those that use technology to access previously uneconomical market segments.The AI reality check AI and machine learning led the InsurTech technology segment in 2024 (Mordor Intelligence: UK InsurTech market size and share analysis), but not in the way most people may assume. The real value isn't in replacing underwriters, it's in making micro-decisions at scale.AI is transforming insurance viability by enabling models like parametric coverage, which were once only theoretical, to become economically viable through automatic, data-driven payout execution. AI hasn't changed the insurance model; it's made new models economically viable.Research shows that more InsurTech companies are looking to redefine insurance with autonomous AI agents by 2026 (FinTech Futures: Insurtech Global Strategic Business Analysis Report 2024). Focusing on enhancing systems that can assess risk, calculate premiums, and process claims for micro-policies that would have been unprofitable to administer manually.What this means for insurers and brokers The insurers and brokers winning in 2026 won't be those with the best AI or the most slickest apps, they'll be those who answered three questions correctly:Where are my customers already making decisions?Not where you wish they were shopping for insurance, but where they're actually spending time and money.What risks become insurable at scale?When administrative costs approach zero, products that seemed too small to matter suddenly represent billions in aggregate premium.Who do I need to partner with to ensure business growth?Experts predict the rate of M&A deals to increase across the insurance sector, along with increased momentum around open insurance. The winners will be those who think ahead and partner with a business who is able to introduce them to new opportunities and enable innovation. For insurers still focusing on building better comparison websites or optimising internal processes, 2026 could be challenging. For those reimagining distribution entirely, it will be transformational.The technology exists and the demand is proven. The real question will be whether insurers are positioned where the growth is happening, or where it used to be.For more information on this topic, or for support with your business growth needs don’t hesitate to contact one of our recruitment or M&A consultants. Sources FinTech Futures: Insurtech Global Strategic Business Analysis Report 2024Insurance Times: Briefing: Protection gap warning poses real questions for UKGIMordor Intelligence: UK InsurTech market size and share analysisPrecedence Research: Insurtech market size, share, and trends 2025 to 2034PWC: Protection gap could reach US$1.86tn by 2025, with Asia-Pacific region accounting for almost half of all uninsured risk

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General Insurance newsletter Friday 10th October 2025

Insurance NewsThe InsurTech paradox: opportunities for insurers - As the InsurTech market booms, with CAGR expected to reach $609.50 billion by 2034, there is a huge opportunity for insurers to re-evaluate product distribution. Our insights piece discusses which InsurTech segment insurers need to focus on to improve customer accessibility. (IDEX Consulting news, 'The InsurTech paradox: opportunities for insurers')New M&A sell side solutions offered by IDEX - Considering a sale but feel unprepared and unsure of the market opportunities? IDEX M&A are offering brokers and MGAs a completely new approach focused on a simple but effective 3 step plan. Get in touch for more info. (IDEX Consulting news, 'New M&A sell side solutions offered by IDEX')How to simplify your interview process - Businesses are quickly losing top prospective talent to competitors because of slow, inefficient and unnecessarily complex interview processes. Read our top tips on how to easily improve your interview strategy and avoid missing out on in-demand talent. (IDEX Consulting news, 'How to simplify your interview process')Looking for top US talent? - With established US market connectivity, our consultants working across the US insurance market have strong relationships with a highly skilled and specialised talent pool of professionals looking for their next opportunity. Learn more about our hiring solutions. (IDEX Consulting news, 'Looking for top US talent?')According to Ecclesiastical’s latest Broker Wellbeing Survey, UK broker stress is at a six-year high (47.5% high/very high), driven by workload, regulation, customer demands, and staff shortages, while most brokers feel equipped to manage mental health and report increased employer support (flexible work, counseling, training). (Jonalyn Cueto, 10/10/2025, Insurance Business, 'Broker stress hits six-year high')Gauntlet urges small and mid-sized directly authorised brokers—especially those under ~£1.5m premium income—struggling in a soft market to de-authorise and join its AR network for market access, reduced compliance/overheads, and growth via aggressive new-business focus, showcased at its conference alongside awards and record recruitment. (Jonalyn Cueto, 10/10/2025, Insurance Business, 'Gauntlet highlights pathway for struggling brokers')According to Circle Marine Insurance Services, UK specialty marine insurance faces softening rates from new entrants even as claims, reinsurance, and geopolitical risks rise—intensifying underwriting scrutiny and making price-first placements likely to leave clients exposed. (Bryony Garlick, 9/10/2025, Insurance Business, 'Softening rates and rising risks: Inside UK specialty marine insurance trends')Munich Re Specialty secured approval to offer commercial insurance in Germany, launching construction, property, renewable energy, and surety via a German MGA branch placing through Great Lakes Insurance SE, with a Frankfurt office planned and José David Jiménez García appointed managing director. (Kenneth Araullo, 9/10/2025, Insurance Business, 'Munich Re Specialty gains approval to launch commercial insurance in Germany')QBE warns ransomware will escalate as criminals exploit AI and cloud vulnerabilities—UK saw 49 major incidents over two years—with deepfakes rising, cloud alerts surging, and firms urged to strengthen identity controls, third‑party oversight, encryption, and continuous monitoring. (Josh Recamara, 9/10/2025, Insurance Business, 'Ransomware threats escalate as AI and cloud vulnerabilities grow, QBE warns')Blink Parametric’s Sid Mouncey says UK insurtech leadership is shifting from shiny tech to evidence-based, embedded solutions that integrate with regulation and deliver measurable outcomes—positioning brokers to win as parametric, Consumer Duty‑aligned products scale across distribution. (Bryony Garlick, 8/10/2025, Insurance Business, 'Innovation leadership rebooted in UK insurtech')CRIF research shows 84% of Britons expect fraud against banks and insurers to worsen by 2030—higher than major EU peers—with younger consumers both less concerned and more likely to be victims, prompting calls for stronger security, data governance, and cross‑sector collaboration. (Kenneth Araullo, 8/10/2025, Insurance Business, 'Britons expect surge in bank and insurance fraud by 2030 – CRIF')Willis reports the global mining insurance market is softening, with falling rates, expanded coverage and rising capacity driven by new entrants—though regulators, ESG, natural hazard and casualty pressures persist, requiring proactive, data‑led risk management and early insurer engagement. (Kenneth Araullo, 8/10/2025, Insurance Business, 'Global mining insurance market softens as rates drop and capacity grows – Willis')OneAdvent secured new Lloyd’s-backed capacity from Casper Specialty UK for its Financial Lines MGA, enabling measured expansion into the EU and emerging markets while reinforcing disciplined underwriting under Roberto Murru’s leadership, according to CEO Tim Quayle. (Josh Recamara, 8/10/2025, Insurance Business, 'OneAdvent secures new Lloyd's capacity to drive financial lines growth')Hazelton Mountford expanded its Worcester HQ by adding an extra floor to house its fast-growing property division, investing in talent and tech to boost efficiency and client service amid rising demand for specialist property cover. (Josh Recamara, 8/10/2025, Insurance Business, 'Hazelton Mountford expands Worcester headquarters')Fortegra secured a Lloyd’s underwriting box (Box 388), deepening its London Market integration to collaborate more closely with brokers and syndicates and expand specialty reach across the UK and Europe, per CEOs Rick Kahlbaugh and Mark Figes. (Josh Recamara, 8/10/2025, Insurance Business, 'Fortegra strengthens London market presence with Lloyd's underwriting box')HSB launched CyberPro for micro and small businesses in the UK and Ireland—combining cover for breaches, ransomware and system failures with a 24/7 incident‑response helpline—aimed at closing SMEs’ preparedness gap and available to e‑trade via Acturis and HSB Fast Track. (Josh Recamara, 8/10/2025, Insurance Business, 'HSB unveils cyber insurance solution for micro and small businesses in UK and Ireland')UK insurers are leading boardroom shifts toward tech expertise as AI adoption accelerates: 66% of new insurance directors have tech backgrounds (vs 52% across UK financial services; 35% Europe), with strong gains in gender diversity—per EY’s Boardroom Monitor and AI Confidence Pulse. (Josh Recamara, 7/10/2025, Insurance Business, 'Insurers lead UK push for tech expertise in boardrooms as AI adoption rises')Willis’ Cyber in Focus 2025 report finds a gap between board confidence and cyber realities: ransomware outages have a median 24-day duration with average losses of US$2.7 million; only 68% of boards tested response plans last year; vendor-related breaches account for nearly half of incidents—prompting calls for simulations, vendor analytics, and AI governance. (Kenneth Araullo, 6/10/2025, Insurance Business, 'Gaps apparent between boardroom perception and cyber reality – Willis')RSA and NIG have rebranded to Intact Insurance across the UK, Ireland and Europe, unifying operations under a single brand to support growth ambitions and strengthen commercial and specialty lines—leveraging a broad product set and global risk consulting network. (Josh Recamara, 6/10/2025, Insurance Business, 'RSA and NIG rebrand to Intact Insurance')LIIBA warns the $2.5 trillion global protection gap could widen without stronger backing for brokers, who are driving product innovation amid four risk trends: digital dependency, climate volatility, geopolitics, and intangible assets. Calls include regulatory sandboxes, modernised licensing, and dedicated innovation capital to unlock broker-led solutions. (Josh Recamara, 6/10/2025, Insurance Business, 'LIIBA warns failure to back brokers could widen $2.5 trillion protection gap')Mergers and AcquisitionsTokio Marine plans to deploy over $10 billion from unwinding cross-shareholdings to accelerate overseas M&A, rebalancing profits beyond the US by targeting smaller personal-lines carriers and specialty expansion across North America, Latin America, Southeast Asia, and Australia. (Matthew Sellers, 9/10/2025, Insurance Business, 'This big insurer has $10 billion to spend on acquisitions')MoversLiberty Specialty Markets has promoted Henry Nelson to Active Underwriter for Lloyd’s Syndicate 4472, expanding his UK & MENA CUO role; Nelson, who joined LSM in 2013, previously served as Chief of Staff, Head of Portfolio Management (London & Global Products), Marine Portfolio Manager, and Terrorism/War Underwriter, following earlier experience at Aon Crisis Management - part of a leadership transition ahead of Jane Warren’s planned retirement and ongoing regional restructuring. (Rod Bolivar, 10/10/2025, Insurance Business, 'Liberty Specialty Markets promotes Henry Nelson to active underwriter')AmTrust International has appointed Tony Scott as Head of AmTrust Specialty Limited Claims and Head of Claims for its specialty unit, tasking him with leading strategy, operations, and innovation across specialty claims; Scott brings 30+ years’ experience from HSBC, Canopius, and most recently Geo Underwriting. (Jonalyn Cueto, 10/10/2025, Insurance Business, 'Scott named head of claims for AmTrust Specialty')Blenheim Partnerships appointed Geoff Pryor-White to lead its new cyber unit, leveraging his three decades in cyber/tech E&O and Tarian founder experience to bolster specialist delegated authority growth and attract seasoned underwriting talent under CEO Peter Scales’ strategy. (Josh Recamara, 9/10/2025, Insurance Business, 'Insurance moves: Broadstone, MAXIS, Blenheim and SRG')Specialist Risk Group created a team in its International division to coordinate insurance placements for UK subsidiaries of overseas corporates—offering a single UK touchpoint aligned with parent programs and giving overseas brokers a clearer London Market route as part of SRG’s international growth strategy, per deputy CEO Lee Anderson. (Josh Recamara, 9/10/2025, Insurance Business, 'Insurance moves: Broadstone, MAXIS, Blenheim and SRG')Arch Insurance UK named Martin Cleary, Leeds Branch Manager, to lead a 15-person team, strengthen broker distribution, and advance North-East growth—bringing 30+ years’ experience from Bravo Network and Groupama under Regional Manager Janine Starkie’s strategy. (Josh Recamara, 8/10/2025, Insurance Business, 'Insurance moves: Arch, 4most and Acquis')Decus Insurance Brokers launched a new wholesale construction division, appointing industry veteran Steve Downing to lead it—leveraging his 30+ years’ construction insurance experience—to expand London/European specialty capabilities and target complex project risks as infrastructure investment and ESG demands rise. (Josh Recamara, 7/10/2025, Insurance Business, 'Decus Insurance launches construction division to strengthen specialty capabilities')Arch Insurance International appointed Miriam Reid as Head of Business Solutions, overseeing strategic operations, transformation, and organisational alignment; the London-based leader brings 20+ years’ experience from Beazley (Cyber Risks Chief of Staff/Head of Business Management) and AIG, reporting to COO Ketan Motwani to drive scalable, tech-enabled growth. (Kenneth Araullo, 6/10/2025, Insurance Business, 'Insurance moves: Arch Insurance, Westfield Specialty')Westfield Specialty International appointed Andrew Richardson as Head of Open Market Property in London, reporting to Richard Wood. With 30+ years’ experience (ex-Head of Commercial Lines at Faraday Underwriting), he’ll set portfolio strategy, maintain underwriting discipline, and work closely with clients and brokers to drive growth. (Kenneth Araullo, 6/10/2025, Insurance Business, 'Insurance moves: Arch Insurance, Westfield Specialty')Allianz Commercial appointed James Raven as UK Regional Head of Liability, succeeding Luke Baker - who earlier this year became Director UK Global and AGCS SE Branch Manager. London-based, Raven will steer large corporate liability strategy and profitability, bringing 25+ years’ corporate casualty experience as Allianz targets disciplined growth amid heightened claims pressures. (Josh Recamara, 6/10/2025, Insurance Business, 'Allianz Commercial names new UK regional head of liability')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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General Insurance newsletter Friday 3rd October 2025

Insurance NewsSustainable ways to grow your business: learn how IDEX can help - IDEX Consulting facilitated the acquisition of Morton Insurance Brokers by Specialist Risk Group, ensuring a seamless transition for clients and employees. As well as enabling Morton’s founder, Adrian Morton, to plan for retirement IDEX enabled the firm's expansion, supporting long term sustainable growth. (IDEX Consulting news, 'Sustainable ways to grow your business: learn how IDEX can help')AI insurance skills Lab: level up your knowledge - Ready to transform how you work but don't know where to begin? Join IDEX Consulting on October 9th at 1pm BST for an exclusive, hands-on AI workshop designed specifically for insurance professionals. (IDEX Consulting news, 'AI insurance skills Lab: level up your knowledge')Key info insurers should know about nuclear energy - The rise of nuclear fusion energy, with its safety and environmental benefits, presents insurers with opportunities to support this transformative technology. However, outdated fission-era exclusions and risk models pose challenges, urging the industry to adopt tailored coverage for fusion's unique risk profile and unlock its potential as a clean energy source. (IDEX Consulting news, 'Key info insurers should know about nuclear energy')The climate disclosure gap US insurers can no longer ignore - Despite 97% of US insurers disclosing climate strategies, only 29% provide measurable targets, creating a transparency gap that leaves customers vulnerable. As extreme weather events escalate, regulators are pushing for mandatory climate risk disclosures, urging insurers to adopt standardised metrics and proactive accountability to bridge the growing protection gap. (IDEX Consulting news, 'The climate disclosure gap US insurers can no longer ignore')Reputational risk is climbing the agenda for passenger transport companies, with new research showing that concerns over sustainability and cyberattacks now outweigh traditional safety issues. The findings come from the Reputation Risk Readiness Survey, which polled 100 senior executives across airlines, cruise operators and rail companies. (Josh Recamara, 03/10/2025, Insurance Business, 'Transport sector faces rising reputational risks as cyber and environmental pressures mount')Businesses are embedding generative AI (Gen AI) at speed across products, services and internal operations, unlocking opportunities for innovation but also creating new categories of risk. A new report from the Geneva Association, Gen AI Risks for Businesses: Exploring the role for insurance, shed light on how corporate insurance buyers perceive these risks and what they expect from insurers. (Josh Recamara, 03/10/2025, Insurance Business, 'Report: Businesses push for insurance cover as GenAI risks multiply')Willis, a business of WTW, has launched a new parametric insurance solution that activates automatically when a red weather warning is issued by the UK Met Office or Met Éireann, the Irish National Meteorological Service. Developed in collaboration with Swiss Re Corporate Solutions, which will act as the insurer, the policy represents a new approach to weather-related risk transfer. (Josh Recamara, 03/10/2025, Insurance Business,'Willis launches market-first parametric policy')Japan’s largest brewer, Asahi, the owner of Peroni and Grolsch, has been forced to suspend shipments and halt production at many of its domestic plants following a cyberattack that has paralysed its logistics systems for nearly a week. Deliveries of its best-known lager, Asahi Super Dry, have already been missed by bars and retailers, raising fears of shortages. (Stephen Owens, 03/10/2025, Insurance Business,'Beer cyberattack leaves shelves empty')DUAL UK has secured a five-year capacity deal led by Zurich, together with Liberty Specialty Markets and other A-rated carriers, to support the launch of its new regional commercial combined product. The arrangement strengthens the long-standing relationship between DUAL and its insurer partners, while expanding options for brokers in the regional commercial market. (Josh Recamara, 03/10/2025, Insurance Business,'Zurich and Liberty back DUAL UK's new regional commercial combined product')QBE Insurance Group has locked in its US-based interim cyber chief to a permanent role, underscoring the company’s move to treat digital security as a global rather than regional function. Given the insurer’s high profile in cyber insurance, the role has particular importance – a cyber incident of its own would cause substantially red faces. (Matthew Sellers, 03/10/2025, Insurance Business, 'QBE shifts cyber lead to US')Munich’s Oktoberfest, the world’s largest folk festival, was suspended Wednesday after police confirmed a credible bomb threat linked to a violent incident in the city’s northern district. Shortly before dawn, firefighters were called to Lerchenau where a house belonging to the suspect’s parents was ablaze. Investigators later said the property had been deliberately set on fire and wired with explosives. Several vehicles nearby, including a minibus, were destroyed. The suspect was discovered at Lerchenauer Lake with gunshot wounds believed to be self-inflicted and died from his injuries. (Chris Davies, 01/10/2025, Insurance Business, 'Oktoberfest closed amid bomb threat after deadly Munich explosion')We’re now decades past when email scams became common knowledge. But even as other cybercrime tactics have come and gone, social engineering attacks remain one of the most common ways threat actors gain initial access to an organisation’s systems. Once inside, threat actors can explore the network, exfiltrate (steal) data, deploy ransomware or do further social engineering to defraud the victim. (Travelers, 01/10/2025, Insurance Business, 'Social engineering outgrows the inbox')Howden secures a UK Space Agency grant to develop an AI-powered biodiversity risk tool, leveraging satellite data to enhance ecological monitoring, streamline insurance underwriting, and support compliance with environmental frameworks. (Kenneth Araullo, 1/10/2025, Insurance Business, 'Howden wins UK Space Agency grant to build AI-powered biodiversity risk tool')In further news...Howden expands its renewable energy insurance facility across the UK, offering streamlined coverage for wind, solar, and battery projects with up to £150 million capacity, supporting the transition to a low-carbon economy. (Kenneth Araullo, 1/10/2025, Insurance Business, 'Howden expands renewable energy insurance facility across UK network')Liberty Mutual launches a global cyber insurance suite, combining tailored coverage and international expertise to address rising cyber risks, while navigating profitability challenges in an expanding market. (Josh Recamara, 1/10/2025, Insurance Business, 'Liberty Mutual rolls out global cyber suite as market softens')Howden mourns the loss of Chris Cotterell, a pioneering leader in cyber insurance and founder of Safeonline, remembered for his profound industry impact, leadership, and dedication to fostering valued relationships. (Kenneth Araullo, 1/10/2025, Insurance Business, 'Howden mourns death of cyber chair and industry pioneer Chris Cotterell')Dame Susan Langley DBE, Gallagher UK Chair, has been elected as the 697th Lord Mayor of London, becoming the first to use the title "Lady Mayor." With a distinguished insurance career, including roles at Lloyd’s of London and Gallagher, Langley aims to promote London’s global financial leadership, business growth, and social impact during her term. (Kenneth Araullo, 30/9/2025, Insurance Business, 'Gallagher UK chair Susan Langley elected as London’s first ‘Lady Mayor’)Fitch Ratings reports that global insurance regulators are diverging in their approaches, with Europe and Asia-Pacific easing capital requirements to boost economic activity, while the US and UK tighten oversight on reinsurance treaties. These shifts reflect efforts to balance capital flexibility with solvency and market stability. (Rod Bolivar, 30/9/2025, Insurance Business, 'Global insurance regulators take divergent paths, Fitch says')Hiscox's Cyber Readiness Report reveals that 59% of SMEs faced cyberattacks in the past year, with 33% incurring fines and many reporting financial and operational fallout. Ransomware remains a key threat, with 80% of targeted firms paying ransoms, though only 60% recovered data. AI vulnerabilities are also rising, prompting 94% of SMEs to plan increased cybersecurity investments. (Rod Bolivar, 30/9/2025, Insurance Business, 'SMEs hit hard by rising cyber risks - report')A missile strike on the Dutch cargo ship Minervagracht in the Gulf of Aden, attributed to Yemen's Houthi rebels, injured two crew members and set the vessel ablaze. This incident highlights escalating maritime risks in a critical shipping corridor, raising marine insurance premiums and complicating risk assessments for insurers. (Matthew Sellers, 29/9/2025, Insurance Business, 'Missile strike on Dutch cargo ship raises marine insurer risks')Bondaval has partnered with Swiss Re Corporate Solutions to expand digital credit insurance globally. Starting January 2026, Bondaval will underwrite policies via its platform, with Swiss Re providing capacity. This collaboration aims to modernise credit insurance with real-time, embedded solutions, enhancing flexibility and risk management for businesses across the UK, EU, US, and Canada. (Josh Recamara, 29/9/2025, Insurance Business, 'Bondaval and Swiss Re join forces to expand digital credit insurance')Mergers and AcquisitionsMarsh has sold its Irish personal lines insurance portfolio to Cornmarket, transferring motor, home, travel, and van policyholders along with 20 employees. The move aligns with Marsh's strategy to focus on corporate and commercial risk advisory, while Cornmarket gains a stronger foothold in the consumer market, adding to its 240,000 clients and over 430,000 policies, with a workforce now exceeding 500 across Ireland and the UK. (Matthew Sellers, 30/9/2025, Insurance Business, 'Marsh drops Irish unit with sale')Minority Broker Partnerships, backed by insurance veteran Peter Cullum, takes a minority stake in Moonrock Insurance, providing capital to expand its underwriting capabilities, product portfolio, and international reach in the fast-growing drone and eVTOL insurance market. (Josh Recamara, 1/10/2025, Insurance Business, 'Veteran-backed firm takes stake in MGA Moonrock Insurance')MoversShepherds Friendly has announced that Jonathan Sandell will take over as chief executive at the beginning of 2026, subject to regulatory approval. He will succeed Ann-Marie O’Dea, who is stepping down after more than a decade in the role.Sandell brings more than 20 years of leadership experience in financial services, with particular expertise in developing customer propositions and building intermediary partnerships. (Josh Recamara, 2/10/2025, Insurance Business, 'Shepherds Friendly names Jonathan Sandell as next CEO')Arch Insurance International appoints Kevin Lumiste as Senior Construction Underwriter in London, leveraging his 25+ years of experience in power generation and complex risks from roles at SCOR, Zurich Global Corporate, and Starstone Insurance, to grow Arch's global construction portfolio and enhance client delivery. (Josh Recamara, 1/10/2025, Insurance Business, 'Insurance moves: Evolution Claims, Arch, Allianz Benelux, Commercial Express and Towergate')Towergate Employee Benefits appoints Dasha Ivanova as Client Director, bringing her experience from AON (NFP) to oversee strategic corporate relationships and support benefits strategy, as the firm expands its consulting team to meet growing demand for compliant, cost-effective solutions. (Josh Recamara, 1/10/2025, Insurance Business, 'Insurance moves: Evolution Claims, Arch, Allianz Benelux, Commercial Express and Towergate')Allianz Benelux reshapes its leadership team with Jeroen den Tex, former Chubb Benelux country President, as Chief P&C officer to lead underwriting and claims, and Heidi Cortois, with experience at NN Belgium, Crelan, and Marsh & McLennan, as Chief Sales Officer in Belgium, driving growth and broker engagement across the region. (Josh Recamara, 1/10/2025, Insurance Business, 'Insurance moves: Evolution Claims, Arch, Allianz Benelux, Commercial Express and Towergate')UK MGA Commercial Express appoints Paul Webley as Director of Sales and Distribution, bringing senior experience from Towergate, Arista, Arch Insurance UK, and Ashley Page Insurance Brokers, to lead key account management, sales, and marketing as the company aims to double its GWP by 2028 and transition into an MGU. (Josh Recamara, 1/10/2025, Insurance Business, 'Insurance moves: Evolution Claims, Arch, Allianz Benelux, Commercial Express and Towergate')Evolution Claims Management appoints Matt Stockton as Head of Operations, bringing his expertise from Innovation Group, where he managed property services, subsidence claims, and general perils operations, as the company continues its tech-driven expansion and client growth. (Josh Recamara, 1/10/2025, Insurance Business, 'Insurance moves: Evolution Claims, Arch, Allianz Benelux, Commercial Express and Towergate')Specialty MGA has appointed Nick Conway as Senior Underwriter for medical malpractice. With over 25 years of experience at firms like Marsh and BMS Global Healthcare, Conway will oversee global medical risks, including hospitals, clinics, and allied health providers, from the London office. He aims to leverage MNK Group's expertise to drive growth across healthcare and other business lines. (Rod Bolivar, 30/9/2025, Insurance Business, 'Insurance moves: wefox, Specialty MGA, ThingCo, PoloWorks')Markel Insurance has appointed Clarice Francis as Operations Manager for its international war and terrorism division. Based in London, Francis will enhance operational efficiency, strengthen underwriting policies, and collaborate with brokers globally. Previously with Hiscox, she brings expertise in operations management and project delivery, joining Markel during rising demand for political violence coverage amid global instability. (Jonalyn Cueto, 29/9/2025, Insurance Business, 'Markel appoints new operations manager')HDI UK & Ireland has appointed Tom Potter as Director of Liability, effective September 22, 2025. With over 15 years of experience, including roles at AXA XL, Potter will focus on profitable growth and technical underwriting excellence. His appointment supports HDI's strategic goals in liability underwriting across core regions. (Jonalyn Cueto, 29/9/2025, Insurance Business, 'HDI names director of liability for UK and Ireland')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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Financial Services newsletter Friday 3rd October 2025

Financial Services NewsFintel has launched Omnicore, a standalone distribution platform designed to connect advisers and providers, offering deeper product understanding, strategic support, and innovative solutions like Omni Protect to enhance financial outcomes across the value chain. (Financial Planning Today, 29/9/2025, 'Fintel launches Omnicore standalone distribution platform')InvestAcc's revenues more than doubled to £6m in H1 2025, driven by organic growth, strategic acquisitions, and a focus on building the UK’s leading specialist pensions administration business, including the upcoming £25m acquisition of AJ Bell’s Platinum SIPP and SSAS business. (Financial Planning Today, 25/9/2025, 'Revenues double for InvestAcc ahead of SIPP acquisition')Flying Colours, a Berkshire-based Financial Planning firm, launched an in-house investment platform powered by Seccl to enhance efficiency, reduce costs, and support a new lower-cost solution for clients with under £150,000 in investable assets, set to launch in early 2026. (Financial Planning Today, 24/9/2025, 'Berkshire Planner adds in-house investment platform')WH Ireland has sold its £1m wealth management arm to Oberon Investments as part of a strategic move to exit the market. The firm, which has faced financial challenges, is now beginning the process of winding down its operations, marking a significant shift in its business strategy. (Financial Planning Today, 22/9/2025, 'WH Ireland begins wind down after selling wealth arm')Royal London and Aviva have been ranked as the top recommended providers for personal pensions and SIPPs in H1 2025, with Royal London leading personal pensions at 29% of adviser recommendations and Aviva dominating SIPPs with 24.1%, according to Defaqto data. (Financial Planning Today, 18/9/2025, 'Royal London and Aviva top private pension recommendations')True Potential Wealth Management, the Newcastle-based financial advice arm of the True Potential Group, has reported a £242m loss. This significant financial setback highlights ongoing challenges within the business and marks a pivotal moment as the firm reassesses its strategy and operations moving forward. (Financial Planning Today, 18/9/2025, 'True Potential Wealth Management pivots to £242m loss')New FCA figures reveal an 8.6% rise in pension plans accessed for the first time in 2024/25, reaching 961,575 compared to 885,455 in 2023/24. The surge, particularly in pots over £250,000, coincided with fears of tax-free lump sum changes and the Budget announcement that pensions would fall under the IHT net from April 2027. Over £53bn was withdrawn during the year through drawdown without fully emptying pots. (Financial Planning Today, 16/9/2025, 'FCA figures show surge in pension pots being accessed')Fintech and adviser support firm Fintel, owner of SimplyBiz and Defaqto, reported an 18.6% revenue increase to £42.4m for the six months to July, with organic growth at 4.2% and SaaS & subscription revenues up 21% to £24.2m. Adjusted profits rose 17% to £11.2m, while net debt stood at £30.1m. The firm simplified its structure into two divisions—software & data, which saw a 17% revenue rise to £18.4m, and services, up 20% to £24m. Its January acquisition of Rayner Spencer Mills Research added £1.7m in revenue and £0.6m in profit. (Financial Planning Today, 16/9/2025, 'Fintel revenue climbs 18.6% in first half')The UK’s investment gap widened by over 30% between 2022 and 2024, with 15m adults holding more than £610bn in “possible investments” in cash, according to Barclays. The bank attributes 23% of the £35bn increase in cash savings to rising interest rates, which climbed from 1% in May 2022 to 5.25% by May 2024. The analysis focuses on savers with over six months’ income in cash, whose savings grew significantly through interest accrual. (Financial Planning Today, 15/9/2025, 'UK’s investment gap climbs to more than £610bn')A Personal Financial Society 2025 Autumn Roadshow survey found 21% of Financial Planning firms use AI, 56% are experimenting, and 23% have yet to adopt it. Otto co-founder Madeleine Debney highlighted AI’s 40% growth in 2024, boosting productivity and streamlining tasks like onboarding, compliance, and portfolio rebalancing. The event supports wealth and cashflow planning professionals. (Financial Planning Today, 15/9/2025, 'Only 21% of Financial Planning firms have embedded AI')Client acquisition (34%) and retention (23%) are top priorities for financial advisers in the next 12 months, according to IFA directory Unbiased. Other focuses include technology adoption (14%), expanding services (9%), and regulatory compliance (8%), reflecting the competitiveness of the UK advice market. (Financial Planning Today, 11/9/2025, 'Client acquisition and retention top adviser concerns')Wealth manager Atomos has partnered with fintech Fincalc to enhance its retirement proposition and client onboarding. The integration provides advisers with tools for cashflow, retirement, and inheritance tax planning, alongside financial calculators. A new digital engagement portal will offer features like a customisable fact find, secure messaging, document uploads, and digital signatures. Atomos says the partnership aligns with its goal to lead in wealth management and financial planning. (Financial Planning Today, 10/9/2025, 'Atomos partners with Fincalc for new digital workflows')Hargreaves Lansdown is adding two Schroders Capital long-term asset funds (LTAFs) to its platform on 15 September, becoming the first to offer LTAFs within a SIPP wrapper. These funds provide access to private equity and energy transition infrastructure, offering growth opportunities for long-term, diversified portfolios. (Financial Planning Today, 8/9/2025, 'Hargreaves and Schroders first to offer LTAFs in SIPPs')Wealth manager Brooks Macdonald reported full-year net outflows of £0.4bn for the year ending 30 June, with a significant improvement in the second half, where outflows dropped to £0.1bn from £0.3bn in the first half. Net outflows for the quarter ending 30 June were just £5m, the lowest in two years. Despite challenges, including 2023 outflows and a 10% staff reduction, revenues rose 4.6% to £111.6m, driven by higher Financial Planning income. Funds under management grew 17% to £19.2bn, though underlying profit before tax fell 4.6% to £28.9m due to acquisition and integration costs. (Financial Planning Today, 4/9/2025, 'Net outflows drop for Brooks Macdonald')How leading wealth advisors are using AI to stay competitive - Leading wealth advisors are leveraging AI for enhanced portfolio management, compliance, client communication, and predictive analytics, achieving up to 40% in operational efficiency improvements. But how are they managing critical challenges like data privacy, AI bias, and technology integration? Read our insights piece to find out. (IDEX Consulting news, 'How leading wealth advisors are using AI to stay competitive')IDEX Consulting launches new M&A sell side offering - Designed for financial advice firms, IDEX’s new solution challenges the industry’s current traditional transaction-focused model, transforming how businesses prepare for sale and achieve maximum earn out revenue. Learn more on IDEX’s brand new M&A website. (IDEX Consulting news, 'IDEX Consulting launches new M&A sell side offering')Get the business edge with a competitive sustainability strategy - Building a sustainability strategy involves aligning with regulatory frameworks, embedding sustainable practices to attract talent and investors, and addressing challenges like greenwashing and transparency. Learn how you can build long-term business resilience and competitive advantage. (IDEX Consulting news, 'Get the business edge with a competitive sustainability strategy')Are your clients prepared for potential wealth tax changes? - The potential introduction of a UK wealth tax is creating uncertainty for wealth managers and clients. Wealth Managers need to be proactive with their planning, strategic advisory, and make necessary adjustments in investment and tax strategies to navigate regulatory and economic impacts. (IDEX Consulting news, 'Are your clients prepared for potential wealth tax changes?')Mergers and AcquisitionsTweed Wealth Management has acquired Edinburgh-based The James Boyd Practice, a former St. James’s Place partner, for an undisclosed sum, marking its sixth acquisition in seven years and bringing its assets under management close to £1bn. James Boyd, who plans to retire, chose Tweed due to their long-standing relationship. This follows Tweed’s acquisition of Glasgow-based Capital Wealth Consultants and other firms, including John Home Wealth Management and Melville Wealth Management. (Financial Planning Today, 17/9/2025, 'Tweed acquires former SJP Edinburgh planner')Clifton Wealth Partnership has acquired Grovebridge Financial and Clifton Business Consultancy, adding £146m in assets. Yorkshire-based Grovebridge has provided Financial Planning to 200 families for a decade. Director Paul Smith will remain, while Co-Director Hilary Stephenson retires. Clifton Business Consultancy, based in Bristol, has advised business owners for 16 years. Director Bob Thomas will stay on, with Co-Director Michael Lloyd retiring. The acquisitions further expand Clifton’s growing wealth management portfolio. (Financial Planning Today, 4/9/2025, 'Clifton Wealth adds £146m AUM with 2 Planner acquisitions')Chartered Financial Planning firm Unividual has been acquired by 7IM subsidiary Lync Wealth Management for an undisclosed sum. Bath-based Unividual, founded in 2000, will rebrand under the Lync name but retain its office, client fees, services, and adviser relationships. Lync said the acquisition strengthens its regional presence and commitment to client outcomes. Since 2023, Lync has acquired over seven firms managing £500m in assets, bolstering its growth under the 7IM group. (Financial Planning Today, 4/9/2025, 'Chartered Planning firm Unividual acquired by 7IM')MoversDynamic Planner has made several senior appointments to drive its growth ambitions, including Alan Smith as Enterprise Development Director. Smith will lead sales of Dynamic Planner’s product and API solutions to major financial institutions. He brings extensive experience from senior roles at Citibank in New York and HSBC in London. (Dan Cooper, 29/9/2025, Money Marketing, 'Dynamic Planner strengthens leadership team to accelerate growth')Ascot Lloyd has appointed Ben Waterhouse as Chief Client Officer, a newly created role aimed at accelerating the firm’s growth strategy. Starting in January 2026, Waterhouse will report to CEO Francis Jackson and succeed Gary Stirrup, who steps down as Chief Commercial Officer in October. With over 20 years of experience, including roles at Schroders Personal Wealth, Barclays Wealth, Fidelity, and Legal & General, Waterhouse will focus on uniting Ascot Lloyd’s capabilities to meet evolving client needs. (Momodou Musa Touray, 29/9/2025, Money Marketing, 'Ascot Lloyd hires Schroders’ Waterhouse as new chief client officer')Vanguard appoints Gillian Hepburn, formerly of Benchmark Capital, as Head of Adviser Solutions in the UK to expand its model portfolio services, platform partnerships, and adviser offerings, leveraging her 30+ years of financial services experience. (Financial Planning Today, 25/9/2025, 'Vanguard poaches Benchmark's Hepburn as adviser solutions head')Ortec Finance appointed John O’Driscoll, a financial services veteran with over 20 years of experience and former St. James’s Place Division Director, as Managing Director of OPAL Financial & Wealth Planning to enhance its UK Financial Planning technology, leveraging his expertise in AI, automation, and advice transformation. (Financial Planning Today, 23/9/2025, 'Ortec hires SJP exec to boost UK Financial Planning')John Goddard, former HSBC banker, has been appointed CEO of Quilter Cheviot, succeeding Andy McGlone, who led the firm through significant growth and transformation, to drive further strategic advancements in wealth management. (Financial Planning Today, 22/9/2025, 'Former HSBC banker takes over as Quilter Cheviot CEO')Fairstone Group has appointed former Aldermore Bank CEO Steven Cooper as its new Chief Executive Officer, succeeding founder Lee Hartley, who becomes Deputy Chair. With over 30 years of financial services experience, including leadership roles at Barclays and Aldermore Bank, where he nearly doubled its size, Cooper will support Fairstone’s growth strategy to double its business by 2030. A CBE recipient for services to banking and social mobility, he also chairs Experian UK and has held various non-executive roles. (Financial Planning Today, 16/9/2025, 'Fairstone appoints former Aldermore Bank CEO')Fast-growing financial planner Finli Group, formerly Solomon Capital Holdings, has appointed former Brown Shipley CEO Calum Brewster as Chief Commercial Officer, succeeding Simon Goldthorpe, who will step back as Chief Distribution Officer at year-end but remain involved. Brewster, joining on 3 November, brings over 25 years of experience in wealth management and advisory, including leadership roles at Barclays Wealth and Julius Baer, as well as a successful career as an IFA. (Financial Planning Today, 16/9/2025, 'Finli appoints former Brown Shipley CEO as CCO')AFH has hired two senior ex-St James’s Place executives to drive growth. Iain Rayner, former COO at SJP, will join as Chief Commercial Officer in January 2026, while James Fogarty, former Head of Acquisition, has started as Recruitment Director, focusing on adviser recruitment. Both will support AFH’s launch of a Partnership proposition targeting owner-managed businesses. Rayner brings over 20 years of financial services experience, including managing SJP’s largest businesses, while Fogarty led SJP’s national recruitment team, specialising in onboarding large advisory firms. (Financial Planning Today, 12/9/2025, 'AFH recruits two senior staff from SJP')Fintech Origo has appointed Vivienne Sacco as Chief Finance Officer. Formerly group and UK CFO at FNZ, she brings 25 years of experience in technology and financial services. Sacco will oversee finance, legal, and information security, with CEO Anthony Rafferty highlighting her role in driving the firm’s next growth phase. (Financial Planning Today, 12/9/2025, 'Ex FNZ CFO joins Origo')Barnett Waddingham has appointed Emily Crotty as Head of SIPP Risk and Rebecca Smith as Head of SIPP Finance, joining its senior management team to expand its SIPP offering. Crotty, formerly with Embark Group, will shape the risk framework, while Smith, from tech firm Newsflare, will lead SIPP finance. (Financial Planning Today, 10/9/2025, 'Barnett Waddingham adds to SIPP team')Manchester-based Pareto Financial Planning has expanded its team to around 75 with the addition of Chartered Financial Planner Sarah Mullarkey, Financial Adviser Mark Singh, and Employee Benefits Consultant Holly Potts. Mullarkey, previously with JPB Financial Planning, specialises in cashflow planning. Singh, who transitioned from sports coaching and property investment, joins after launching his own Financial Planning firm. Potts brings over 20 years of experience in employee benefits, focusing on group risk, corporate healthcare, and cost-effective benefit strategies. (Financial Planning Today, 9/9/2025, 'Pareto recruits 3 including Chartered Financial Planner')Sally Plant, the CISI’s Head of Financial Planning, is leaving after nearly five years to join the LIBF as Relationship Director for financial services. At the CISI, she led the growth of Financial Planning, the CFP qualification, and UK business development. The LIBF, with 29,000 members, aims to expand its financial services portfolio, and Plant will support this growth alongside Director John Somerville. (Financial Planning Today, 3/9/2025, 'CISI Financial Planning head Sally Plant moves to LIBF')All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, and IDEX Consulting.

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How leading wealth advisors are using AI to stay competitive

Research shows that more and more wealth management forms are embedding AI-driven analytics into their client advisory processes, with benefits ranging from improved portfolio performance to, faster response times and a reduction in compliance management. According to Morgan Stanley’s 2024 Wealth Management Technology report, robo-advisory assets under management grew by 58% year-on-year, with AI driving much of this expansion through improved performance and client experience. Furthermore, 68% of financial services firms (including wealth managers) now prioritise AI in risk management and compliance initiatives (KPMG: The generative AI advantage in financial services).With the value proposition only growing, industry forecasts project AI managed assets to reach over $6 trillion by 2027 (Netguru: AI in wealth management, transforming financial planning and investment approaches). Deloitte projections cited by the World Economic Forum strikingly predict that by 2028, AI driven investment tools will become the primary source of advice for around 80% of retail investors (World Economic Forum: AI, wealth management and trust: could machines replace human advisors?).Whilst, some advisors have raised concerns about AI replacing them, firms that are integrating AI throughout all of their operational practices are reporting 25-40% improvements in operational efficiency. The threat therefore, isn’t AI, it’s being left behind whilst competitors embrace it. How advisors are embracing AI The practical applications extend far beyond robo-advisors. According to an Accenture survey of 500 financial advisors, 96% believe generative AI can revolutionise client servicing and investment management, with 97% foreseeing significant impacts on their work (Accenture: Using generative AI to power growth for wealth managers).Current implementations include:Portfolio management and rebalancing - AI-driven tools enable dynamic asset allocation adjustments that respond to market shifts faster than manual processes. Informa report that 76% of firms have experienced efficiency gains through AI integration, particularly in portfolio rebalancing operations (Informa: Navigating AI in wealth management, balancing tech and human touch).Compliance and risk management - EY estimate that AI-powered compliance tools can reduce compliance management time by 75%. In a heavily regulated industry, it’s essential firms continuously assess how they can reduce risk exposure. Client communication and service - Firms are increasingly adopting chatbots, and automated reporting systems to handle routine client interactions, allowing advisors to dedicate more time to complex planning conversations and relationship building.Predictive analytics - Advanced AI systems can identify patterns in client behaviour, market conditions, and risk factors that would be impossible for humans to detect manually, enabling improved insight driven conversations.Challenges The real competitive advantage often comes from understanding and overcoming specific challenges that can derail implementation.Data privacy and regulatory complianceThe 2025 GDPR amendments mandate that businesses need to provide clear explanations around how AI processes personal data, with consumers reserving the right to contest automated decisions. The SEC has also prioritised AI oversight in 2025 examinations, with particular focus on AI note-taking tools and automated client communications. The margin for error is shrinking fast.How advisors can stay compliant Implement AI systems with built-in audit trails that document decisions and data access pointsEstablish clear client disclosure protocols before deploying any AI tools in client-facing situationsCreate a compliance review process specifically for AI outputs, not just human advisor recommendationsPartner with suppliers and specialists who can demonstrate regulatory compliance documentation, not just product features.AI bias and decision qualityExperts advise that AI systems can inadvertently perpetuate bias, especially in areas like portfolio recommendations and client segmentation. Regulatory authorities including the FTC, DOJ, and Consumer Financial Protection Bureau have signalled this is an enforcement priority.Beyond regulatory risk, comes quality risk. AI systems trained on historical data can make recommendations that don't account for unprecedented market conditions or individual client circumstances that fall outside normal patterns.How firms can minimise risk Never deploy AI decision-making systems without human oversight and approval processesRegularly audit AI recommendations against diverse client portfolios to identify potential bias patternsTrain employees to recognise when AI suggestions don't align with client-specific circumstancesMaintain detailed documentation of when and why you override AI recommendationsTest AI systems on edge cases and outlier scenarios, not just typical client profiles.The trust gapWhen markets become volatile or personal circumstances become complex, clients need human judgement and empathy.The firms who are winning aren't choosing between AI and human advisors; they're optimising practice by strategically combining both.How firms can maximise adoption Position AI as your team's enhancement tool, not a replacement for advisor relationshipsBe transparent with clients about where and how AI contributes to their portfolio managementReserve complex, emotionally charged conversations (estate planning, divorce, business succession) for human advisorsUse AI-generated insights as conversation starters, not final recommendationsTrain advisors to explain AI recommendations in plain language that builds rather than erodes confidenceIneffective or lack of AI strategies The biggest mistake firms make is adopting AI tools without a clear implementation strategy, that lacks investment in employee understanding and training. How to overcome it Start with one specific process where AI can deliver measurable improvement (like automated portfolio rebalancing or compliance documentation)Measure baseline metrics before implementation so you can demonstrate ROIDedicate resources to comprehensive employee training, not on just how to use the tools, but when and why to use themCreate feedback loops where advisors can report what's working and what isn'tBe prepared to iterate and adjust your approach based on real-life resultsWhat success can look like Those firms experiencing the strongest results from AI adoption share common characteristics:They maintain the human element in client relationships - AI handles data analysis, routine communications, and operational tasks, whereas advisors focus on strategy, complex planning, and relationship management.They're transparent about their AI use - rather than hiding AI implementation, they proactively explain to clients how technology enhances their service delivery.They invest in training and change management - technology adoption isn't just about buying tools, it's about changing workflows, mindsets, and practices.They start small and scale intentionally - rather than attempting wholesale transformation overnight, they identify high-impact use cases, prove the value, and expand where necessary.AI adoption in wealth management is a competitive necessity, but successful adoption requires careful planning, comprehensive training and strategic investment.If you’d like more information on the topic, support with your hiring strategy or guidance on securing a new role please contact one of our financial services consultants. Sources Accenture: Using generative AI to power growth for wealth managersInforma: Navigating AI in wealth management, balancing tech and human touchKPMG: The generative AI advantage in financial servicesNetguru: AI in wealth management, transforming financial planning and investment approachesWorld Economic Forum: AI, wealth management and trust: could machines replace human advisors?

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General Insurance newsletter Friday 26th September 2025

Insurance NewsWhy climate transparency matters more than ever for US insurers - Despite 97% of US insurers disclosing climate strategies, only 29% provide measurable targets, creating a transparency gap that leaves customers vulnerable and unprepared for climate risks. With increasing regulatory pressure and extreme weather events causing billions in damages, insurers must adopt standardised metrics, enhance transparency, and embrace accountability to meet growing demands for climate risk disclosure and ensure customer trust. (IDEX Consulting news, 'Why climate transparency matters more than ever for US insurers')AI insurance skills Lab: level up your knowledge - Looking to boost your work productivity and efficiency but unsure where to start? Join IDEX Consulting on Oct 9th at 1pm BST, for a virtual exclusive, hands-on AI workshop designed specifically for insurance professionals. Reserve your spot here.What's changing in captive insurance regulations - The UK government has announced reforms to its captive insurance framework, including faster authorisation processes, lower capital requirements, and reduced reporting obligations, aiming to make the UK a competitive hub for captive insurers. These changes align with global standards and are expected to attract more captives, boosting the UK’s insurance market and economy, though challenges such as the lack of tax incentives remain. (IDEX Consulting news, 'What's Changing in Captive Insurance Regulations')MGA trends and insights - The global MGA market is experiencing rapid growth, driven by demand for specialised insurance solutions, technological advancements, and M&A activity. However, challenges like capacity constraints and regulatory compliance remain critical, requiring MGAs to diversify capacity sources, embrace technology, and maintain strong broker relationships to sustain growth. (IDEX Consulting news, 'MGA trends and insights')Davies launched its AI Underwriting Workbench to streamline underwriting processes, offering a centralised dashboard, AI-powered automation, and integration with existing systems, aiming to improve efficiency, reduce costs, and enhance risk decision-making. (Kenneth Araullo, 26/9/2025, Insurance Business, 'Davies bolsters tech portfolio with AI Underwriting Workbench launch')Businesses are increasingly adopting AI technologies like machine learning and natural language processing to combat sophisticated cyber threats, with the global AI in cybersecurity market projected to grow from $25.35 billion in 2024 to $93.75 billion by 2030, according to Grand View Research, driven by the need for advanced tools to counter evolving attacks and protect critical infrastructure. (Kenneth Araullo, 25/9/2025, Insurance Business, 'The AI edge: businesses harness new tech to combat cyber threats')Bridgehaven Specialty UK Limited joined the Association of British Insurers (ABI), marking a significant milestone in its development as a hybrid insurer, with its innovative model fostering long-term partnerships with MGAs and reinsurers while contributing to the evolution of the UK insurance sector. (Josh Recamara, 25/9/2025, Insurance Business, 'Bridgehaven Specialty joins ABI')The global cyber insurance market faces slowing growth and falling rates, with premiums growing just 6% annually between 2022 and 2024, down from 40% during the hard market, according to Howden's report, which highlights the need to tap underserved markets like continental Europe to sustain growth amidst evolving cyber threats. (Matthew Sellers, 24/9/2025, Insurance Business, 'Cyber insurance at a crossroads as growth slows and rates fall')Aon's latest market outlook highlights strong insurer competition in the UK during H1 2025, leading to buyer-friendly conditions with rate reductions of 10-20% across most lines, while encouraging organisations to reassess insurance programmes and explore expanded coverage amidst inflation and evolving risks. (Kenneth Araullo, 24/9/2025, Insurance Business, 'Competitive UK insurance market means great news for buyers in H1: Aon')Insify secured €16.3 million in Series B funding, led by Evli Growth Partners, to expand its AI-powered insurance platform for SMEs and freelancers across the Netherlands, France, and Germany, aiming to address underserved markets with tailored, data-driven coverage solutions. (Josh Recamara, 24/9/2025, Insurance Business, 'Insify lands capital injection of €16 plus million')Allianz UK uncovered £92.6 million in insurance fraud during H1 2025, a 34% increase from the previous year, with over 15,800 cases detected across personal, commercial, and specialty lines, leveraging advanced technologies like machine learning and voice analytics to combat evolving fraud schemes. (Josh Recamara, 23/9/2025, Insurance Business, 'Allianz UK uncovers £93M in insurance fraud during H1 2025')A Marsh survey revealed that while 78% of businesses have experienced climate-related impacts, only 38% conduct detailed climate risk assessments, highlighting a significant gap in adaptation investment, with barriers like funding and competing priorities limiting proactive resilience planning. (Josh Recamara, 22/9/2025, Insurance Business, 'Marsh survey finds businesses underinvesting in climate adaptation')Mergers and AcquisitionsSouth Korea’s DB Insurance is set to acquire U.S. specialty insurer Fortegra in a £1.18 billion deal, marking its boldest overseas expansion into the UK, US, and Europe. The acquisition aligns with DB’s strategy to diversify beyond Korea’s mature market, leveraging Fortegra’s expertise in automotive protection, warranty programs, and niche specialty lines, including its UK operations regulated by the PRA and FCA. (Matthew Sellers, 25/9/2025, Insurance Business, 'Insurer that owns UK’s largest secondary intermediary FCA network bought in massive deal')B.P. Marsh invested £2 million for a 35% stake in Salus, a new UK insurance intermediary group specialising in professional indemnity (PI) cover, supporting its dual broking and MGA platform aimed at addressing constrained PI capacity and providing tailored solutions for SMEs and professionals. (Josh Recamara, 23/9/2025, Insurance Business, 'B.P. Marsh backs new PI intermediary group Salus with £2M investment')MoversQBE has appointed Hannah Wilkinson as Underwriting Manager – Motor Trade for the UK, effective Oct. 1, 2025; she will oversee the motor trade portfolio, focusing on strategy, customer propositions, and client-broker relationships. Wilkinson, who joined QBE in 2011 from Allianz, brings nearly two decades of industry experience, including her recent role as senior motor trade underwriter. She succeeds Iain Bickers, who is retiring after over 15 years in the position. (Josh Recamara, 26/9/2025, Insurance Business, 'Senior leadership changes at QBE and Aon')Aon has appointed Leon Walker as EMEA Captives Leader, effective Jan. 1, 2026. Walker, who joined Aon in 2022 to lead UK Inpoint, brings nearly 20 years of experience, including senior roles at Willis Towers Watson, Lloyd’s of London, and leadership positions in InsurTech at Instanda and AdvantageGo. In his new role, he will drive strategy, transformation, and growth across Aon’s Captives business in EMEA, reporting to Ciaran Healy, Global Captives Leader, and collaborating with the EMEA Risk Capital team. (Josh Recamara, 26/9/2025, Insurance Business, 'Senior leadership changes at QBE and Aon')Covéa UK has announced a CEO transition, with Georges De Macedo stepping down after nearly two years to return to France and remain on the UK board. Xavier Laurent, joining from Covéa Group, will succeed him, subject to regulatory approval, bringing extensive leadership experience in general insurance to drive the next phase of growth for Covéa UK. (Josh Recamara, 26/9/2025, Insurance Business, 'Covéa UK announces CEO transition')Sompo appointed Cédric Wells, a seasoned insurance professional with over 25 years of experience, as Head of Claims for Continental Europe, where he will oversee claims strategy across eight key markets, leveraging his extensive expertise from roles at Swiss Re and SCOR. (Kenneth Araullo, 25/9/2025, Insurance Business, 'Sompo names Cédric Wells head of claims for Continental Europe')Amiga Specialty appointed James Rasmussen as Managing Director for management liability in the UK and Europe, tasking him with establishing the product line and collaborating with capacity partners, leveraging his extensive experience from roles at Nexus Underwriting, Chubb, and Travelers. (Kenneth Araullo, 24/9/2025, Insurance Business, 'Rasmussen joins Amiga Specialty to lead management liability in UK, Europe')Marsh McLennan appointed Kim Abildgaard as CEO for Denmark, effective October 1, leveraging his nearly 25 years of experience to integrate global capabilities across its businesses and enhance client services, following his role as interim CEO and leadership at Mercer’s European career practice. (Kenneth Araullo, 24/9/2025, Insurance Business, 'Marsh McLennan names Kim Abildgaard CEO for Denmark')Alta Signa appointed Cédric Denysiak as France Country Manager, leveraging his 20+ years of experience in financial lines and specialty insurance to expand the firm's presence in the competitive French market, focusing on opportunities in financial lines, cyber, and marine. (Josh Recamara, 24/9/2025, Insurance Business, 'Alta Signa names new France country manager')DWF expanded its major injury and casualty practice with 27 new hires, including five partners from leading firms, to address growing demand from insurers for expertise in high-value claims, enhancing its capabilities in liability defence, catastrophic injury, and regulatory matters. (Josh Recamara, 24/9/2025, Insurance Business, 'DWF expands injury and casualty practice with 27 new hires')Davies has appointed Adam Warwick as group CIO, effective October 6, to lead its global technology strategy, including AI and cloud infrastructure, as part of its Vision 2030 goals, leveraging his 25+ years of experience in technology leadership roles at Bravura, Aviva, and Zurich. (Kenneth Araullo, 23/9/2025, Insurance Business, 'Davies taps Adam Warwick as new CIO, expands executive team')Synthetik Insurance Technologies appointed Matt Harris as Global Head of Partnerships and Distribution, leveraging his extensive leadership experience at Argo Group and AIG to drive growth and expand the reach of its next-generation modelling tools in the insurance sector. (Kenneth Araullo, 23/9/2025, Insurance Business, 'Synthetik Insurance names Matt Harris global head of partnerships')The British Insurance Brokers' Association (BIBA) appointed Iain Anderson, Founder of H/Advisors Cicero, as a Non-Executive Director, leveraging his extensive public affairs expertise to strengthen broker representation with policymakers and regulators during a period of economic and regulatory change. (Josh Recamara, 23/9/2025, Insurance Business, 'BIBA brings public affairs veteran Iain Anderson onto board')Texel Group strengthened its London team by appointing Josh McCann as Director and Axel Swiderski as Associate Director, leveraging their expertise in credit insurance, political risk, and structured finance to enhance Texel's position as a specialist, independent broker in the growing CPRI market. (Josh Recamara, 22/9/2025, Insurance Business, 'Texel Group strengthens London team with new directors')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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