Top 100 brokers adapt as AI and smarter data shape success in 2025

The insurance industry is undergoing rapid transformation, driven by advancements in technology, evolving customer expectations, and a shifting regulatory landscape. Brokers and insurers alike are being forced to adapt to a world where data and automation are reshaping traditional practices.

At a recent Insurance Age roundtable, senior brokers from firms featured in the Insurance Age Top 100 UK Broker Ranking discussed the biggest trends and challenges shaping the market in 2025 and beyond. Five key themes emerged from this discussion, reflecting both the opportunities and obstacles that will define the next phase of industry evolution.

Attendees:

• Martyn Denney, head of innovation and investments, Aon
• John Read, managing director, WTW
• Ben Legg, chief product officer, Open GI
• Damian Baxter, CEO, Machine Learning Programs (MLP)
• James Woollam, managing director, Hayes Parsons
• Robin Gleeson, managing director, Bridge Insurance Brokers
• Sarah Sparrow, group head of market management, Clear Insurance Management
• Sean Thompson, specialist insurance director, Uinsure
• Alexander Whitehead, head of insurance, Utility Warehouse
• Emmanuel Kenning, content editor, Insurance Age

The evolving role of data and technology in insurance

The insurance industry has undergone a profound transformation in its use of data and technology over the past five years. What was once seen as an underutilised asset has now become a fundamental driver of business efficiency and customer service.

As Ben Legg, chief product officer at Open GI observed, there has been “a move from being a cost centre and a thing that I have to put up with to something that can actually enable the business to achieve things”. This shift has been driven by an increasing reliance on AI, machine learning and automation to optimise pricing, streamline processes, and improve decision-making.

Despite these advancements, challenges remain, particularly for smaller brokers who may lack the infrastructure of their larger counterparts. Legg further emphasised the importance of making data actionable: “It’s not just about having data, it’s about structuring it in a way that allows brokers to extract real value. That’s where the industry has struggled in the past, but we are now seeing significant progress.”

Damian Baxter, CEO at Machine Learning Programs (MLP) echoed this sentiment, adding, “The biggest change over the last five years is that brokers have moved from recognising the potential of data to actually implementing solutions that make a difference.”

Martyn Denney, head of innovation and investments at Aon also highlighted the need to balance efficiency with innovation, emphasising that technology should not only improve workflows but also unlock new business opportunities. 

He added: “There’s a lot of focus on efficiency, which is important, but we also need to look at how AI and data can help us create new markets and offer clients solutions they hadn’t considered before. It’s not just about doing the same things faster – it’s about expanding what’s possible,” he explained.

There is still a gap between what is technologically possible and what brokers trust, but that gap is closing.

The shift towards automation and e-trading

Automation and e-trading have become central to the industry’s efforts to enhance efficiency and reduce operational costs. While e-trading has been around for some time, many SME-focused brokers have only recently begun shifting their lower-premium, high-volume business to digital platforms. Despite the broader industry trend, adoption has been slowed by historical system limitations and concerns over insurer servicing. For some, this marks a significant change in how they operate.

As Sarah Sparrow, group head of market management at Clear Insurance Management, noted: “For us, the ability to e-trade at scale is a major shift – we’ve only fully embraced it in the last year.” Her experience underscores the accelerating pace of digital adoption even among brokers who traditionally relied on more manual processes.

However, the experience is not without its challenges. As Sean Thompson, specialist insurance director at Uinsure pointed out, there is still considerable rigidity in risk capture models: “The bit that I’ve been surprised at is how rigid the whole risk capture is around e-trade, and the speed at which it takes to actually change that is just shockingly slow.”

Baxter discussed the evolving role of automation, stating: “AI and machine learning should not be seen as tools to replace brokers, but as ways to enhance their ability to make informed decisions faster. There is still a gap between what is technologically possible and what brokers trust, but that gap is closing.”

The industry is working towards a more seamless omnichannel experience that allows brokers to operate efficiently without sacrificing the personalised service clients often expect. Furthermore, the question of where AI can play a role in reducing manual intervention while maintaining a high-quality client experience remains a critical issue.

Challenges in broker-insurer relationships and panel management

Brokers are increasingly re-evaluating their insurer panels, seeking to consolidate relationships with providers that offer efficiency and ease of trading. This shift has been driven by a desire to simplify processes and enhance service delivery.

As James Woollam, managing director at Hayes Parsons, explained: “As things are becoming more commoditised and we’ve gone down this kind of electronic journey, we’re all trying to take friction out of the business. There’s a huge argument to start reducing the panel.”

However, there is a risk associated with excessive consolidation, particularly in specialised markets where competition is already limited. Denney highlighted this concern: “There’s not enough capital and competition in certain parts of the market and, in those cases, larger panels are required.”

Legg added: “We’re seeing a real push to standardise processes between brokers and insurers, but achieving true integration remains a challenge. It’s an industry-wide effort that requires collaboration on both sides.”

Opportunities and barriers for growth in 2025

The panel saw strong growth potential in key areas such as life sciences, financial services, transport and logistics, and property insurance. These industries are poised for expansion, driven by evolving risk landscapes and increased investment. “Bristol is very strong in life sciences,” noted Woollam, “in conjunction with the universities and other organisations.”

Despite these opportunities, brokers face several barriers to growth, including regulatory challenges, economic uncertainty, and talent shortages. The regulatory environment has become particularly restrictive, with Alexander Whitehead, head of insurance at Utility Warehouse, observing, “The market seems to be contracting, and I think part of that is regulation. It’s making it harder.”

Legg pointed out another obstacle: “We have the technology to drive growth, but adoption rates still vary widely. The firms that embrace data-driven decision-making will have a clear advantage.” The key to overcoming these challenges will be fostering agility in business models, leveraging technology to fill operational gaps, and ensuring that clients continue to receive high-quality service even in the face of market disruptions.

The firms that embrace data-driven decision-making will have a clear advantage.

The role of AI and data-driven cross-selling

AI is increasingly being used to analyse customer data and identify cross-selling opportunities, but its success depends largely on data quality and integration. While some brokers are already leveraging AI for targeted sales strategies, others remain sceptical about its reliability.

Robin Gleeson, managing director at London Bridge Insurance Brokers noted: “I think it might actually duplicate work in its current form, because there is that lack of trust. So, you are putting the effort in initially to use the AI side of things, but then if there’s a lack of trust, you’ve almost got to go back on yourself and double-check things.”

John Read, managing director at WTW, highlighted the importance of timing, noting that successful cross-selling isn’t about blanket approaches but about targeting the right clients at the right moments. 

He added: “We realised that low penetration rates don’t mean a lack of demand – it’s often just about when and how you approach clients. With the right data insights, you can present the right product exactly when the client is most receptive.”

Baxter emphasised the importance of AI explainability: “One of the biggest concerns with AI is ensuring that brokers understand why a decision has been made. Transparency and confidence scores are crucial in building trust with users, particularly in an industry where human expertise remains vital.”

The future of AI in insurance lies in augmenting human expertise rather than replacing it, ensuring that automation enhances rather than detracts from the customer experience.

With the right data insights, you can present the right product exactly when the client is most receptive.

Conclusion

As brokers and insurers look ahead to 2025, they must navigate an increasingly complex landscape where data, automation, and AI play an ever-growing role. The industry is moving towards a model where efficiency and innovation are essential, but these must be balanced with the human touch that remains critical in complex risk scenarios. 

Legg summarised this balance succinctly: “Technology should be an enabler, not a barrier. The winners in 2025 will be those who use AI and automation to strengthen – not replace – their client relationships.”

While the opportunities for growth are significant, brokers must also contend with regulatory pressures, evolving customer expectations, and talent shortages. Baxter added a final thought: “The key challenge for the industry isn’t just adopting AI, but integrating it in a way that aligns with the needs of brokers and clients alike. Those who get this right will lead the way forward.” 

The key takeaway from the roundtable discussion is clear. The future belongs to those who can adapt, innovate, and remain customer-centric while leveraging the full potential of data-driven insights.

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