Ep251 Tom Quy Acrisure London Wholesale: Opportunity Everywhere

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Apr 29, 2025

In this engaging discussion, Tom Quy, Managing Director at Acrisure London Wholesale, shares his insights on revolutionizing insurance access for smaller businesses. He highlights how technology enables cost-effective risk packaging, expanding opportunities in the London Market. Tom also delves into the evolution of cyber insurance, emphasizing its growth potential. The conversation explores the integration of AI, enhancing operational efficiency while maintaining crucial client relationships, showcasing how innovation is transforming the insurance landscape for small to mid-sized enterprises.

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INSIGHT

Tech Unlocks SMB Insurance In London

Acrisure London Wholesale sources 70% of its business outside the Acrisure Group and has unique scale opportunity via the Acrisure retail network.
Tech enables London Market's differentiated products to reach smaller clients, creating benefits for underwriters, clients, and brokers.

ANECDOTE

Early Career in Cyber Insurance

Tom Quy started his career early in the cyber insurance market, right after the financial crisis.
He built cyber teams around London market wholesale and considers it the best class of business to grow in.

INSIGHT

Focusing On SMB Clients

Acrisure holds 5% of the US commercial insurance market and focuses on SMB clients with less than 100 employees.
This focus differentiates them from peers targeting large corporate Fortune 500 accounts.

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Today’s podcast is another really vibrant and forward-looking addition to the Voice of Insurance canon.

I think that’s because it’s with one of London’s most recently-appointed wholesale broking leaders, Tom Quy Managing Director Acrisure London Wholesale

Acrisure London Wholesale is a little different from many of its peers. Yes, it handles most of the same sort of high-end specialist placements that any other London wholesaler does, indeed it sources 70% of its business from outside the Acrisure Group.

But it is the scale of the opportunity that it has by being attached to Acrisure’s impressive retail network that is particularly interesting.

Acrisure has a 5% share of US commercial insurance but unlike most of its top-10 global insurance broker peers, 90% of its clients have less than 100 staff.

These are clearly not the sort of businesses that would historically have come to London for their insurance.

But here’s the interesting and exciting part. As tech brings unit costs right down and allows risk to be packaged in new and more efficient ways, the London Market and some of its more differentiated product might be brought to smaller and smaller original clients in ways that benefit underwriters, clients and the brokers connecting them.

That’s the opportunity that Tom and is team are getting to grips with and that’s what makes this such an enlightening and forward-looking discussion.

Tom’s challenge mirrors that of the entire London Market – if it can keep driving unit costs down through digitisation while at the same time keeping product quality, relevance and innovation high, it will have hit upon a rich winning formula that its brokers will be able to export around the world.

And if it can’t, the consequences don’t much bear thinking about.

Tom’s great company and is a very strong and open communicator and this Episode is highly recommended for anyone interested in the best opportunities in the global wholesale insurance markets.

LINKS:
We thank our naming sponsor AdvantageGo:
https://www.advantagego.com