What a Difference a Year Makes – 2024

A Year of Transformation

Broker Insights’ CEO, Peter Scott, reflects on a year of remarkable milestones, the achievements of the past twelve months and the outlook for 2025 and beyond.

The closing weeks of a year are always a moment to pause, take stock, and appreciate the journey.

2024 has seen Broker Insights continue to redefine data analytics and market insights within the commercial insurance sector. From numerous platform innovations to record breaking growth and industry recognition. We have focused on reorganising our entire business making it stronger and more able so that we can better serve our customers contributing to their growth and success!

We are ready for an exciting phase of accelerated growth and will be launching a range of new products into the market in 2025, which will provide our customers with more capability and analytics enabling growth and expansion! We have a robust strategy, a customer focused team who have literally 100s of years of experience in the industry; all backed up by an unrivalled data set which accounts for 38% of the total market.

I wanted to take this opportunity to thank all those that have made this possible, from our regional broker partners, large brokers, insurers and MGAs, to our partners in the US, and to all stakeholders helping to deliver the achievements of the past year.

Here are just a few highlights, along with an early glimpse of our exciting roadmap for 2025:

Platform Growth

October 2024 marked the sixth anniversary of the launch of our platform, coinciding with the announcement that brokers have uploaded £5.5 billion of Gross Written Premium (GWP) to Vision, and the news that we were on target to hit £6 billion by the end of the year.

I’m pleased to share that thanks to exceptional Q4 growth, we’ve surpassed the year-end target with £6.7 billion now in contract — an impressive 87% increase in the volume of GWP within Vision’s dataset since January 2024.

Vision now represents well over one-third of the UK commercial insurance market, reinforcing Broker Insights’ position as the leading source of independent data analytics and market insights in the UK.

Stronger, Together

The continued growth in broker partnerships has brought increased GWP volumes into the platform, reflecting the appeal of our Vision for the future of commercial insurance.

Alongside this, we’ve secured continuation of our partnerships with insurers and MGAs who share our commitment to the regional broker market, further strengthening our dynamic, interconnected platform.

Together with our insurer and broker partners, we are building a thriving ecosystem centred on Insurance Decision Intelligence, which empowers all participants to unlock greater efficiency, insight, and value. We are proud that our customer-focused approach was acknowledged by being shortlisted for Business Partner of the Year at the Insurance Times Awards.

Innovation

2024 marked a year of pivotal advancements, including the launch of the upgraded Vision platform in May. This introduced strategy-setting support for brokers, enabling them to further optimise placement, and propensity modeling to help insurers allocate resources more effectively.

We also integrated an AI neural network within Vision, enhancing data quality and delivering significant efficiency gains for brokers and insurers—an achievement recognised by our Excellence in AI nomination at the Insurance Times Awards.

For us, true innovation starts with understanding our customers’ challenges. It’s not just about advancing technology but delivering practical solutions for brokers and insurers alike. As we look ahead to 2025, we’re excited to unveil the next evolution of Vision, ushering in a new era of broker and insurer connectivity.

International Expansion

We have made significant strides this year in our global growth journey. In the U.S., we officially launched in Q3 having analysed in excess of $1bn in premium; we have successfully engaged with the market and gained significant traction, laying the foundation for considerable growth in 2025.

Meanwhile, in Europe, we expanded our presence across multiple territories, helping partners centralise and consolidate data to unlock greater insights and efficiencies.

Closing Thoughts and Looking Ahead to 2025

As we close out a transformative 2024, Broker Insights remains focused on driving innovation and meeting market needs through the application of Insurance Decision Intelligence.

Reflecting on the achievements of the past twelvemonths and the exciting roadmap for 2025, we remain committed to connecting brokers and insurers in ways that drive mutual success, fueled by innovation, collaboration, and a customer-first approach.

Wishing you all a joyful and restful festive season!

Peter Scott
CEO