London Market brokers increasingly favor insurers that invest in modern digital technology, according to new research from Guidewire. The findings show that technology now plays a decisive role in where brokers place risk, especially in a softening market.
The inaugural Guidewire London Market Tech Barometer surveyed more than 250 insurance brokers who primarily work with London Market insurers. Notably, 78% of respondents said insurer technology plays a decisive or highly significant role in placement decisions. Senior brokers and directors emphasized this trend even more, confirming that digital capability is now a strategic priority rather than a simple operational benefit.
Outdated Technology Remains a Key Barrier
When asked about the biggest impediment to modernization in the London Market, 24% of brokers identified reliance on outdated technology as the main obstacle. As competition intensifies in a softening market, brokers prioritize efficiency and ease of doing business.
Consequently, insurers that streamline workflows, improve integration, and enhance speed gain a competitive advantage. Brokers increasingly evaluate technology maturity before committing business.
Firms Move Ahead Without Blueprint Two
The research also shows that firms are not waiting for Blueprint Two reforms. In fact, 78% of respondents said they are advancing their own technology strategies regardless of the official timeline.
However, among those moving forward independently, 31% expressed concerns about insurers’ ability to integrate due to legacy core system constraints. Therefore, insurers with flexible and modern core platforms are better positioned to support evolving broker needs.
AI and Automation Transform Underwriting
Artificial intelligence is already reshaping operations. Brokers cited automating submission intake and data extraction (42%) as the top AI use case. Additionally, 38% highlighted enhanced exposure management as a key benefit.
These results show that brokers value AI solutions that move unstructured data efficiently into core systems. At the same time, algorithmic underwriting continues to gain traction. More than half of brokers (51%) said digital or algorithmic underwriting is already happening. Meanwhile, 48% view “smart follow syndicates” positively because they speed up placement processes.
Technology as a Competitive Differentiator
Jamie McDonnell, London Market Director at Guidewire, stated that broker loyalty no longer depends solely on history or long-standing relationships. Instead, brokers favor insurers that invest in resilient, adaptable platforms.
Insurers that modernize their core systems can integrate emerging tools, improve underwriting workflows, and respond quickly to market shifts. As a result, they strengthen their ability to compete dynamically in the global London Market.
Overall, the research confirms that London Market brokers now treat digital capability as a critical factor in placement decisions. In a softening market, insurers that prioritize modernization and automation stand out as preferred partners.
Read Also: Ambition Launches Coaching Intelligence to Power AI Sales Coaching
