The manifesto presents a vision of an insurance broking sector that is not only commercially successful but also socially responsible and forward-looking in its approach to emerging challenges.
We were delighted to be invited to the launch of The British Insurance Brokers’ Association’s 2025 Manifesto, “Partnering to deliver value.” The manifesto outlines the organisation’s vision and priorities for the insurance broking sector over the next 12 months. BIBA represents over 1,800 insurance broking firms operating from more than 2,600 offices across the United Kingdom, forming a significant part of the nation’s financial services industry.
Key Stats
BIBA represents over 1,800 insurance broking firms operating from more than 2,600 offices across the United Kingdom, forming a significant part of the nation’s financial services industry.
The manifesto highlights the sector’s substantial economic contribution. Insurance broking employs approximately 126,000 people and contributes around 1% to the UK’s GDP. The scale of the industry is demonstrated by the £105.5bn in total premiums written through brokers, of which £89bn is in commercial lines. The sector generates £23bn in revenue and contributes £8.1bn in Insurance Premium Tax receipts for 2023-24.
Key Focus
A key focus of the manifesto is the sector’s role in supporting economic growth through appropriate insurance coverage. Research shows that 92% of medium-sized businesses credit insurance with enabling their growth, though concerns remain as 28% of sole traders report lacking confidence in assessing their insurance needs. The document addresses the industry’s critical challenges, including emerging risks such as cyber security, flooding, and climate change.
Key Initiatives
The manifesto outlines several strategic initiatives to address these challenges. These include collaborating with the government on flood resilience and building safety, supporting the implementation of AI in insurance, and promoting diversity and inclusion within the sector. BIBA also focuses on developing sustainable practices and ESG initiatives while improving professional standards through education and training.
Key Reforms
The manifesto prominently features regulatory reform, with BIBA advocating for proportionate regulation that supports industry growth while protecting consumers. The organisation emphasises the need to address the rising insurance costs and the protection gap, which could limit economic growth and resilience. The manifesto also highlights the importance of addressing the skills gap and attracting new talent to the industry.
Partnership & Collaboration
Throughout the document, BIBA emphasises the importance of partnership and collaboration between the industry, government, and regulators. This collaborative approach is essential for delivering customer value while maintaining a competitive and sustainable insurance market. The manifesto presents a vision of an insurance broking sector that is not only commercially successful but also socially responsible and forward-looking in its approach to emerging challenges.
Why it Matters
This manifesto is a significant shift in how insurance brokers position themselves. For BLW Insurance Brokers, our strong emphasis on customer service highlights how the role of insurance brokers has evolved from simply placing insurance to becoming strategic risk management partners. We are committed to understanding each client’s unique needs, providing direct access to decision-makers, and offering bespoke solutions through our status as a Lloyd’s broker – all essential elements in the current insurance market where risks are becoming increasingly complex and conventional coverage may not always suffice.
Our journey from a traditional broker to a fully accredited Lloyd’s broker while maintaining a client-first philosophy illustrates how mid-sized independent brokers can combine the personal touch of a smaller firm with the market access and capabilities of larger organisations. We know that this is particularly relevant for clients who need both sophisticated insurance solutions and hands-on service, as evidenced by testimonials, which clearly show our ability to handle complex risks with a personal approach. Our growth from £1m to a projected £10m GWP debt-free while maintaining high client retention rates suggests that this client-centric model resonates strongly in today’s market.
In some ways, we feel ahead of the game! We have always championed relationships, partnerships, and collaboration, so the BIBA manifesto underpins what we are already striving to achieve. Rest assured, we won’t be sitting on our laurels; we’ll be looking at how we can deliver more value and support Graham and the BIBA team.