At the British Insurance Brokers' Association (BIBA) Conference 2025, CEO Graeme Trudgill (pictured) outlined a range of regulatory, political, and technological developments expected to influence insurance brokers in the coming year.
Under the conference theme A New Era, Trudgill announced Caroline Barr as BIBA’s incoming chair—the first woman to hold the position. She will succeed Jonathan Evans, whose six-year tenure included the challenges of the pandemic and political instability.
"[Evans] has guided us through significant challenges, including five prime ministers and helped us navigate the complexities of the Covid period. He has been a wise owl and a voice of reason," said Trudgill.
Trudgill pointed to significant shifts beyond the association, including a new UK government, a third insurance minister within a year, and changes in global leadership. Internally, he noted that BIBA welcomed 70 new firms over the past year and hosted a record 157 international delegates.
Regulatory reform was a central topic. Trudgill drew attention to the Financial Conduct Authority’s (FCA) Consultation Paper CP25/12, released during the conference. The proposals aim to narrow the scope of consumer duty to eligible complainants under the Financial Ombudsman Service, remove certain ICOBS and PROD rules, and simplify Fair Value Assessment timelines. He also highlighted plans by the FCA to streamline authorisation processes and reduce data reporting burdens, especially for smaller firms.
On this cooperation, Trudgill said, "BIBA will continue to work with our insurer partners – and press ahead with our constructive work – together."
He described recent FCA engagement as unprecedented, referencing an 11-stop regional tour and a direct invitation to speak to the regulator’s insurance team in Stratford. He said this interaction reflects growing collaboration between BIBA and the FCA.
On technology, Trudgill said AI is introducing operational changes comparable to the early impact of the internet. He announced a forthcoming BIBA guide to AI, covering its use in pricing, fraud prevention, claims handling, compliance, and customer service. Quoting an industry member’s experience with AI, Trudgill said it “was like he had discovered fire for the first time.”
Trudgill also revealed BIBA’s first national advertising campaign targeting small and medium-sized enterprises, designed to reach 33 million people via television, print, radio, and digital media. The campaign features a character called “Ben the Broker.”
Addressing insurance access, Trudgill said BIBA’s Find Insurance Service helped more than 434,000 people last year, including those with specific needs. He confirmed 54 new work experience placements for students from underprivileged areas in London and ongoing cooperation with the Chartered Insurance Institute to support professional training.
BIBA’s 2025 manifesto also focuses on flood resilience, cyber risk, and insurer service improvements. The manifesto also covers market-specific challenges. Trudgill referenced ongoing collaboration with Northern Ireland members and BIBA’s involvement in the Motor Insurance Taskforce. He noted progress on the personal injury discount rate, which has now been raised to a positive percentage in all four UK nations.
How do you see these regulatory changes and AI tools affecting the way you work? Share your thoughts below.
