NIBA / Special Feature
An experienced tech operator, Leach joined the insurtech industry in October 2024 after a 20-plus year career in a variety of sectors, including healthcare, practice management, and supply chain. He says, “There are really great people in insurance, and a very strong sense of connectivity between people and organisations to get things done. However, on a tech level, that collaboration and connectivity isn’t there. “In the late 80s, healthcare introduced a global standard for systems to communicate. Supply chain and e-commerce have seen significant innovation over the past 15 years, with productised integrations to connect various systems. By comparison, insurance has suffered from a lack of competition leading to a lack of innovation. “Generally speaking, it is stuck in desktop land, rather than using cloud-based, connected tools. This means there’s a huge opportunity for brokers, insurers, and software vendors to make significant steps forward.”
aspirations of ourselves, our brokers, or our customers. Consequently, there’s been a lot of investment in our systems, and that will continue.” Standing on the Shoulders of Giants Tech has certainly moved quickly – particularly over the past few years – and it only shows signs of increasing its velocity further. It may sound like hyperbole, but in 2025, we’re on the edge of a tech precipice. Adapt, embrace, or start to fade away may sound a bit dramatic, but it’s pretty much where we’re at. And that message appears to be landing, with increasing investment in tech solutions. Amar Roomi, Chief Technology Officer at Blue Zebra and a director of InsurTech Australia, says he’s noticed a significant increase in tech spend over the past 12-18 months.
It’s easy to understand why desktop and on-location server-based tools are still in use. A couple of decades ago, tech solutions were complex by today’s standards and cloud-based applications didn’t exist. Tech platforms were often used to solve vertical unconnected problems rather than enhance connected workflows. Today, the volumes of connection required, the data that must be managed, and the advent of AI, mean tech must span the horizontal axis, too. “It’s definitely a period of evolution," says Tony Craddock, Chief Information Officer, Intermediated & EGM, Technology Strategy at IAG. “That evolution is being driven by three things: brokers are investing heavily in platforms to increase efficiencies and improve customer experience; GenAI is creating opportunities that in turn are accelerating investment; and we recognise we have quite a lot of heritage technology that isn’t capable of supporting the digital
IT MAY SOUND LIKE HYPERBOLE, BUT IN 2025, WE’RE ON THE EDGE OF A TECH PRECIPICE. ADAPT, EMBRACE, OR START TO FADE AWAY MAY SOUND A BIT DRAMATIC, BUT IT’S PRETTY MUCH WHERE WE’RE AT.
38 / INSURANCE ADVISER AUGUST/SEPTEMBER 2025
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