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Supporting BIBA’s 2025 manifesto, highlighting AI’s role in transforming broker operations
Published on 22 July, 2025
Author: Markel UK
6 minute read
As the leading body for insurance brokers in the UK, it’s always worth taking note when BIBA releases important information, including the BIBA 2025 manifesto document that came out at the start of July.
Markel was delighted to both sponsor and contribute to a document that’ll provide immense value to brokers across the UK, who are planning for how they adopt AI to both engage their employees and improve their business processes.
AI is a tool for positive change
Jo Sykes, our divisional director – broker, contributed the foreword where she discusses the potential AI has to positively change the insurance industry over the next decade.
Jo is a firm believer that AI will support people in performing their tasks more effectively, not replace them. Further, brokers need to evaluate AI implementation carefully and avoid being influenced by headline statements or speculative benefits.
In Jo’s view, AI holds considerable potential for brokers, enabling smaller organisations to streamline operations and compete with larger competitors more easily than ever before. Being inquisitive, experimenting, and adopting a test-and-learn approach towards AI is a good strategy for brokers.
Removing routine administrative tasks
Tal Potishman, our innovation and change director, contributed a piece that discussed how AI and machine learning are transforming business, and the insurance sector is no exception.
For brokers, Tal believes, this technology has significant potential to streamline workflows and reduce repetitive tasks, freeing up time to focus on offering a personal service to customers. Managing large volumes of quote submissions is one example of a challenging area where AI can help brokers.
Tal details how Markel uses AI to triage broker eTrade submissions, based on machine learning-augmented business rules, which helps us provide quick responses to broker submissions. And although broker submissions will be different in nature, the principle of using AI to handle a large volume of incoming enquiries efficiently is the same.
Other advantages include the use of AI as a tool for handling unstructured data. With broker submissions coming in a variety of formats, such as emails, PDFs and other documents, AI can be useful in reading and converting this information into structured and consistent formats for easier processing.
"Trust and governance must guide every broker's AI implementation journey"
Liza Harper - Director of compliance UK, Europe & Canada
Improving customer interactions
Tal continues with a discussion around how AI can be used to improve customer interactions – in particular through the use of chatbots. Chatbots have become popular, and, for brokers, they have the potential to automate answers to basic questions and support customers looking for information such as coverage details and policy documents.
There are strong time-saving arguments for the use of Chatbots. However, the technology does come with risks such as malfunctions, information inaccuracies, or missing cross-selling opportunities. To help safeguard against these, Tal details a number of tips for brokers looking to implement the technology, including defining the purpose clearly, focussing on quality and not hype, and planning for a hybrid approach.
Tal’s final point is that the FCA has not issued specific regulations related to chatbots, but implementation must align with their Consumer Duty guidelines around delivering good outcomes for retail customers.
Compliance considerations when implementing AI
Liza Harper, our director of compliance in the UK, and Viren Joshi, our senior conduct & compliance business partner, highlight that the current regulatory environment for the use of AI in the UK is not fully prescribed. However, brokers should consider likely compliance requirements when looking at use of AI within their businesses.
Trustworthiness is crucial and brokers should consider the six key AI governance principles that include proportionality and human oversight. Giving further useful practical guidance, Liza and Viren suggest that brokers looking to start their AI journey on a solid compliance footing should consider establishing committees and steering groups, reassessing internal controls and risk management procedures, and focussing on an AI risk management framework.
Liza and Viren go on to discuss the EU AI Act and how it should be a consideration for UK brokers with dealings within the EU. The Act is a comprehensive regulatory framework aimed at ensuring the responsible development and deployment of AI within the EU. It classifies AI systems on different risk levels as well as imposing obligations on providers and users of high-risk AI systems, including requirements for transparency, safety, and accountability.
The Act will also impact existing GDPR rules in relation to the processing of personal data; however, in principle, the Act leaves GDPR unaffected, and the two sets of regulations will apply side by side.
The article is available for all BIBA members, you can view the full BIBA document here.
