In a recent interview on Insure TV, Brett Sainty, CEO of BLW Insurance Brokers, shared valuable insights on the critical role of independent brokers in the market.
Lloyd’s Accredited & Independent
BLW focuses primarily on the UK SME commercial market, with strength in the mid-sized enterprise segment. As Sainty describes, they are a:
Completely independent, fully Lloyd’s accredited broker, owned and operated by its working directors.
This structure allows them to maintain their client-focused approach while leveraging the power of the Lloyd’s market.
Heritage Expertise: A Fortuitous Specialisation
One of BLW’s notable specialisations is in the heritage space. Sainty recounted how this expertise developed:
We came into the heritage space quite fortuitously for us, a bit of luck, as is always the case with good business stories.
Their expertise was tested when they were approached to find an insurance solution for Bart’s Hospital – a challenging risk featuring a 900-year-old Grade I listed building undergoing restoration, complete with William Hogarth murals. After several national brokers struggled to coordinate the various components of this complex risk, BLW stepped in with their personalised approach.
The Independent Broker Advantage
When asked what differentiates BLW from larger organisations, Sainty highlighted a key advantage:
This is the importance of independent brokers actually, that we will put a main board shareholder in the market with a risk like that, who will engage with insurers, many of whom they’ve had personal relationships with over 30 years. And a national broker wouldn’t be able to do that. They’re just not structured in that way to put somebody with that level of experience into the market directly face to face with an underwriter.
The Changing Broker Landscape
Sainty acknowledged the significant consolidation in the broker market:
There’s been an absolute frenzy of acquisition activity, which has resulted in a significantly lower number of genuinely independent brokers.
Despite this trend, he believes the market needs diversity – national brokers for complex risks like nuclear power stations, consolidators to help the market evolve, and independent brokers offering client choice. He particularly emphasised:
I do think it’s challenging to run a business and genuinely put the customer at the centre of that business if there’s a considerable amount of debt in that business. And the values of the business will have to change if it’s carrying that much debt.
Balancing Technology and Personal Touch
On the topic of AI and emerging technologies, Sainty takes a measured approach. While acknowledging AI can “add great value and streamline processes,” he emphasised BLW’s focus on complex risks requires human expertise:
We often think of ourselves as sort of Savile Row tailors. That human touch is incredibly important. Many of our customers are involved in either challenging sectors or demand quite an experienced touch.
Current Market Conditions
Regarding the current market, Sainty observed what appears to be “the beginning of a softening in the market,” though he noted this was unusual without a significant influx of new capacity. He clarified:
I wouldn’t describe it as a soft market. I’d describe it as a more competitive market, which we actually welcome, particularly if it means underwriters are taking the time to consider risks more carefully.
The BLW Difference
Throughout the interview, Sainty emphasised BLW’s commitment to independence, personalised service, and longstanding relationships with both clients and insurers. In a market increasingly dominated by large consolidators, BLW represents the enduring value of the boutique Lloyd’s broker model – combining deep expertise with the flexibility to handle complex, unusual risks through direct, senior-level engagement with the market.