Freddie shares insights from Gallagher Re’s Q1 2025 report, revealing a surge in insurtech investment (over $1.3 billion, with a strong focus on AI-driven solutions). While insurance may appear cautious compared to other sectors, Freddie argues that this is a necessary byproduct of a risk-averse industry. Innovation is very much alive in the London Market, from incubators like Lloyd’s Lab to emerging models like ring-fenced innovation units within syndicates.
Freddie and Georgie also explore why distribution and claims are seeing the most innovation today, while underwriting insurance software is gaining traction thanks to AI and data initiatives. Freddie also breaks down how brokers and carriers measure innovation success, highlighting loss ratio, operational efficiency, and speed to decision as key metrics. The episode concludes with a reminder: innovation has always been part of Lloyd’s DNA. The challenge now is not pace, but visibility. As Freddie puts it, 'We do innovate, we just need to shout about it more.'
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