InsTech - insurance & innovation with Matthew Grant & Robin Merttens Ed Howkins, Artificial & Sasa Brcerevic, Aon: Digitising risk trade: the future of wholesale broking (355)
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May 18, 2025 Sasa Brcerevic, Head of Portfolio and Delegated Strategy at Aon, and Ed Howkins, Chief Growth Officer at Artificial Labs, discuss the revolution in risk trading. They emphasize the importance of digitizing the broker-underwriter interface, shifting from mere transaction execution to a streamlined trading process. The duo highlights how competitive pressures prompt digital adoption and the rise of underwriting-as-a-service. They also explore new digital models for carriers and the transformative power of data, spotlighting the future of a data-driven insurance landscape.
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Wholesale Broking Digitization Fit
- Wholesale broking focuses on transaction execution rather than advisory services given the client's coverage needs are predefined.
- This makes wholesale broking processes more amenable to digitization compared to retail broking, which requires more client handholding.
Carriers Embrace Digitization
- Carriers must evolve to be well-informed and digitally connected with brokers to stay competitive.
- Digitization is shifting from a feared topic to a core strategic priority among carriers to add value as trading partners.
Competitive Digitization Momentum
- Competitive pressures and rapid advantages seen by early digital adopters are accelerating digitization adoption in the London market.
- This is no longer theoretical but a practical market imperative affecting flows and competitive positioning.