Soft markets, smart AI

UK mid-market insurance takes a bold new turn

Graham Stait

Allianz UK

Industry experts

Michael Yabantu

Aviva

Lynne Norledge

WTW Networks

Graham Stait is a seasoned professional with over 16 years of experience at Allianz Insurance, currently serving as the director of UK markets. Based in Birmingham, England, Stait has held several key roles, including regional manager (Midlands and South West), head of claims operations and head of suppliers & expert. His career at Allianz began with the claims graduate scheme, where he gained valuable experience in operations, technical and business change functions. Stait’s expertise spans claims management, trading and strategic change initiatives.

Allianz UK

Graham Stait

Michael Yabantu has been in the insurance industry for 26 years and joined Aviva in 2018. His current role is managing director of mid-market, where Yabantu has full P&L accountability for the regional commercial business for clients up to £250 million turnover – trading well in excess of £1 billion revenue and approximately 530 staff across the UK. As a diverse senior leader, Yabantu has a passion for DE&I and has received industry recognition for his work in championing DE&I including on the 2023 ICAN Top 60 Role Model list and 2024 Top 100 Global Empower Executive list. Prior to Aviva, Yabantu spent 13 years at AXA and six years at Endsleigh in a variety of roles covering personal lines, corporate partners, claims, distribution and regional management.

Aviva

Michael Yabantu

Lynne Norledge has enjoyed a 45-year career in the insurance industry, mainly in senior client management and profit centre management. As networks commercial director, her role includes the recruitment of new brokers to the Network as well as strategic management of insurer relationships.

WTW Networks

Lynne Norledge

“Just contacting the client midterm and at renewal really won’t cut the mustard. What are their future plans? Does the program need to be changed to accommodate what the business is doing now?”

Lynne Norledge, WTW Networks

The mid-market insurance sector in the UK is shifting and evolving at an exponential rate – but not without some unique challenges and hurdles in its path. From changing client expectations to the impact of AI, the emergence of new risks to the increasingly competitive environment – firms are having to adapt quickly or risk falling behind in the months ahead. In a recent roundtable with IBUK, Lynne Norledge, networks commercial director at WTW Networks; Graham Stait, director of UK markets at Allianz UK; and Michael Yabantu, managing director of mid-market at Aviva, gathered to discuss what’s influencing the sector right now – looking at everything from specialisation to client relationships, product access to compliance, and even technology. Norledge began by citing the main influencing factors across the UK mid-market sector currently – beginning with the impact of dropping rates. “The major influencing factor in the mid-market at the moment is the softening of rates from insurers,” she told IB. “We’ve seen it gather pace from the global end where rates have been dropping quite sharply, [and] now it’s starting to impact the mid-market... Brokers need to be aware of what’s going on in the market and work accordingly to the benefit of their clients [to help them] understand what value insurance brings to their business.”

“You can see an increasingly complex and interconnected commercial risk landscape and the impact that technology is having, and recognise that increased specialisation can provide additional value”

Graham Stait, Allianz UK

“Whether it’s through specialisms or generalists, having [an] understanding [of] the client needs and the challenges they’re facing as a business … is really critical”

Michael Yabantu, Aviva

Read on

Allianz Insurance is one of the largest general insurers in the UK and part of the Allianz Group, ranked by Interbrand as the world’s #1 insurance brand. Since 1890, all around the globe, we have been working hard to secure people’s lives and to prepare our customers for everything life has to offer. As one of the largest general insurers in the UK, we operate under a number of brands, including Allianz, Pet Plan, LV= and Britannia Rescue. We offer commercial insurance and personal insurance. Our commercial products and services span offerings from small and micro business based throughout the UK, through mid-sized companies, up to large multinational enterprises and also specialist risks.

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MarshBerry

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Industry experts

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Mashberry

Gerard Vecchio

Relation Insurance

Timothy J. Hall

Mashberry

Phil Trem

In Partnership with

M&A Insights 2021

Insurance Business America uncovers the answers to brokers’ biggest questions about mergers and acquisitions, with expert insight from MarshBerry, Baldwin Risk Partners and Relation Insurance

Read on

Phil Trem

MarshBerry

Timothy J. Hall

Relation Insurance

Gerard Vecchio

MarshBerry

Industry experts

Mashberry

Phil Trem

Relation Insurance

Timothy J. Hall

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Mashberry

Gerard Vecchio

Published July 14, 2025

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Aviva is the UK’s leading diversified insurer, with businesses spanning insurance, wealth and retirement. We also have major operations in Ireland and Canada. In our UK General Insurance business, it’s always been our goal to stand alongside you, our broker partners, and our shared customers, whatever the challenges. And with an expanded appetite, a bolstered team of talent and continuous investments in our infrastructure, we’ve never been better positioned to help you and your customers move forward, wherever you want to go. Whatever risk and however you prefer to place it, we’re here to help you trade your way.

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Supply chain disruptions ‘still very real’ In a soft market, she explained, this is often a good time to look at higher limits and new covers – essentially anywhere client budgets can be stretched. Why? Because there’s room in a soft market to expand the cover they’re buying. And Stait agreed – adding that increasing competition in the sector is driving prices down, which is a win-win for both customers and brokers in the long run. “It’s positive for customers and an opportunity for brokers to revisit cover limits and see if [they’re] receptive to reinvesting some of those savings into areas that previously they might not be able to afford,” he told IB. “We’re seeing growth in the UK insurance overall, but only modestly and broadly in line with inflation.”

Allianz UK recently released a report that found the UK market grew 3.2% in 2024 – down from previous years – which Stait believes reflects the tapering off of influencing factors. These factors include the war in Ukraine and the subsequent disruption to supply chains. “Looking ahead,” Stait added, “we also see the increased risk of challenges with trade tariffs and economic disruption potentially creating further challenges there.” But it’s not just supply chain disruptions that are causing concern; Yabantu told IB that the macro environment continues to present challenges for firms in 2025. “This will also influence the market – whether that’s ongoing inflation and supply chain disruptions, which are still very real – [or] the increasing costs for businesses having to absorb the increased wages [or] National Insurance. We’re also still seeing broker recruitment as a big challenge too.”

This reflects sector-wide data; Aviva’s recent Broker Barometer survey found that 74% of insurance brokers are still recruiting, noting that hiring is still a major concern for UK firms going into the end of the year. ‘A pretty broad church’And as these challenges continue to become more intense and more complex, they create the need for more specialisation – with specialisation in the insurance sector becoming a dividing line between those who thrive in complexity and those who may get left behind. As Stait told IB, the mid-market itself is “a pretty broad church,” encompassing clients with turnovers ranging from £10 million to £100s of millions stretching across an array of industries. This diversity, he argued, demands strategic clarity. “You can see an increasingly complex and interconnected commercial risk landscape and the impact that technology is having, and recognise that increased specialisation can provide additional value,” he told IB.

Stait’s comments are backed by the results of the 2025 Allianz Risk Barometer, which identified cyber incidents as the number one risk for UK businesses, 50% of which have faced some type of breach or attack. New technologies are in the fifth spot, highlighting the double-edged sword of advancements such as AI, which most respondents believe to bring more benefits than risks, though the potential challenges it presents can’t be ignored. Allianz, for its part, has responded with propositions offering bespoke coverage tailored to niche needs, and the market is shifting “towards industry verticals … looking at particular niches and subsections and ways of better catering for those particular needs.” Yabantu echoed this approach but grounded it in practicality.

“Whether it’s through specialisms or generalists, having [an] understanding [of] the client needs and the challenges they’re facing as a business … is really critical. It’s like that GP and consultant analogy – we want the best generalists with the ability to service, manage and respond, but with the opportunity to dial in specialist consultants when we need.” This is reflected in Aviva’s overall approach of a very broad appetite operating across a range of industry sectors with specialism in areas like real estate, public sector, financial and specialty lines. And from the broker’s side, Norledge supports specialisation – but with some caveats. “Having a specialism for a broker is a very key skill, because it enables that deep understanding of the industry and delivering extra value to the clients,” she added. But she warns against being too narrow: “If a broker is going to specialise in one or two specialisms exclusively, then that will narrow down their marketplace.”

For Norledge, the ideal is balance: “Have your specialisms … but I think most brokers will look at one or two specialisms and then be more general on the outside. It certainly promotes a much deeper understanding of the client – which is what we’re all here for.” Building client relationships through communication But these client relationships aren’t won during renewal season – they’re built across the year. For Yabantu, consistency and relevance are key. “The interaction has got to be relevant to the relationship, the complexity of the program and the cost to serve each and every client – which will be different.” Aviva supports this with dedicated CRM teams for large mid-market clients, who build deep relationships with clients and brokers working collectively to project manage the insurance program.

And Norledge agreed and underscored the strategic importance of frequent contact. “Just contacting the client midterm and at renewal really won’t cut the mustard.” She advises brokers to ask the right questions: “What are their future plans? Does the program need to be changed to accommodate what the business is doing now? Have there been any claims? [This is] so the client feels comfortable with you … and that you’ll represent them in the best way possible in the market.” Here, Stait took a similar stance but focused on clarity and communication. “The onboarding process is really key, and this tripartite relationship relies on really good communication between all parties. Agreeing what good

looks like is really important; moving beyond the transactional relationship is really key.” Allianz is achieving this through their enhanced client relationship management proposition, which ensures a structured approach to bespoke insurance solutions tailored to the needs of their clients. Balancing innovative tech with human capability A good client relationship strategy depends on more than just communication – it hinges on solid, innovative and reliable technology. Aviva’s Broker Barometer survey found that in 2025, 85% of brokers are interested or very interested in enhancing their operations with digital or automated processes. And while the pace of technological change can seem intimidating, all three panellists were optimistic – especially when tech is used thoughtfully. Yabantu distinguished between three layers here – data, technology and AI. He sees AI especially as a decision support tool that can “reduce and minimize some of the back-office-type functions” or help underwriters make smarter, faster decisions. Importantly, the human factor isn’t being replaced – it’s being empowered. “The underwriter and human touch is still integral,” he added, noting Aviva’s parallel investment in “upskilling of the technical skills and capabilities of our underwriters.” This itself is reflective of sector sentiment at large – a marriage of human expertise and generative AI to create a streamlined and efficient end-to-end process. Aviva’s Broker Barometer survey found that 70% of brokerages have already implemented GenAI, with national brokerages showing the highest uptake (75%), followed by regional (70%) and local (68%). What’s more, of those brokerages that have implemented this tech, 48% are already using it to improve the customer experience.

According to Norledge, WTW has gone deep into AI, helping its network members deploy tools that handle repetitive work efficiently. “We see AI as not taking people’s jobs or making decisions but doing the routine back-office work that could take hours and hours for a broker.” Stait, however, offered a note of caution. “It’s easy with the advent of so much technology to become a bit tech-led … when fundamentally it’s around the capabilities you’re trying to build.” For him, it’s about being solutions oriented. Stait sees potential in three core areas: digitalisation (to remove non-value-added activity), augmentation (to support smarter decisions) and generative AI. But the guiding principle remains simple: what are you trying to achieve? “Whether that’s digitalisation – trying to remove non-value-added activity – or whether that’s augmentation, [it’s about] that support for underwriters [to help] improve the decisions we make and serve our customers better.” Allianz has been awarded both Gracechurch Underwriting and Claims Service Quality Marques for the second and ninth years respectively, indicating it is achieving an effective balance in deploying new technology while maintaining quality interactions across the value chain.

‘Supporting you, your business and your clients’Looking ahead to what’s in store for the mid-market sector in 2025 and beyond, the panellists agreed that it’s about evolving with the challenges and the changes to ensure success. “You have to behave differently during a soft market,” said Norledge. “You have to market differently. You have to be out sooner. Make sure you’re getting the best quotes, maybe an exclusive quote … any idiot can get a good quote in a soft market – it takes a real broker in a hard market.” Stait’s advice is to treat insurers as collaborators: “Insurers do value long-standing relationships … bring insurers, specifically Allianz, into that equation. We have a huge amount of data, huge amount of solutions.” Yabantu wrapped it up with a unique three-pronged strategy. “Relationships remain key … [they help] us understand our respective businesses and build trust. The speed and quality of the exchange of information is also key. Honesty and transparency in the conversation. What’s going well? What can we improve? [It’s about what we] should or can do to support you, your business and your clients.”

Source: Aviva Broker Barometer 2025

85% of brokers are interested or very interested in enhancing their operations with digital or automated processes Of brokers who expressed interest, “improving customer service” and “gaining a competitive advantage” were the top reasons (52%), followed by “increasing new business” (40%) 29% of brokers expressed a desire for more data and customer insight from their insurer, compared with those who favoured improved customer service, at 28%

A growing appetite for digital automation

Source: Allianz Risk Barometer 2025

Cyber incidents Business interruptions Changes in legislation and regulation Political risks and violence New technologies

Top 5 risks for UK businesses in 2025