The Chartered Insurance Institute

21 Lombard Street London EC3V 9AH
+44 (0)20 8989 8464
  • About CII

    The Chartered Insurance Institute (CII), the leading professional body for the global financial services profession, exists to promote higher standards of integrity, technical competence and business capability. With over 115,000 members in more than 150 countries, the CII is the world's largest professional body dedicated to insurance and financial services.


    Our membership covers all disciplines within the insurance industry (claims, broking, underwriting), those working in the life and pensions sector, the mortgage advice market and financial advisers (under the Personal Finance Society brand).

    Our Royal Charter requires us "to secure and justify the confidence of the public" in our members and in the insurance and financial services sector.

CII release ‘Underwriter of the Future’ report


The Chartered Insurance Institute’s Underwriting Faculty, along with Oliver Wyman, has published its latest ‘Underwriter of the Future’ report six years after the first report was published to review how the projections from 2012 actually played out now we have passed the halfway point of the journey to 2022 – what has played out as expected, what is new, and what this means for the insurance executives and underwriters of today.

The report is a barometer of what has happened in underwriting and what the future may look like. The key findings from the report include:

The changing distribution in SME insurance - progress towards direct and online distribution for micro and small risks. At the larger end of SME, person-to-person relationships still predominate, but the economics of the traditional branch-based model continue to deteriorate.

Changing customer demands - Customers will demand more price transparency, faster turnaround times and lower cost – forcing insurers to significantly re-engineer their service proposition and operating model. Similar trends are also beginning to play out in other mature markets such as Germany and the USA, meaning insurers in these markets will soon also be facing tough choices.

Pressure on the supply - ongoing abundance of capital continuing to put the traditional industry under major cost and competitive pressure. The traditional broker-insurer-reinsurer value chain is fragmenting with innovative insurers showing willingness to separate capital provision from risk selection and underwriting, and some non-insurer players (brokers, MGAs, reinsurers) in effect starting to bypass traditional primary insurers to create their own new hybrid models.

Matthew Connell, Director of Policy and Public Affairs at the Chartered Insurance Institute, said: “This excellent piece of research shows the different strategies open to insurers, and how this can affect demand for skills. It is a useful guide for people planning their training and development and provides invaluable market context for professionals shaping their careers. As a profession we need to be looking at the changes affecting our sector in order to continue being relevant to the needs of our consumers and clients.”

Arthur White in the Insurance practice at Oliver Whyman commented: “Commercial insurance sometimes gets seen as more staid than personal lines – at least if you measure by Insurtech headlines. However, there are deep and fundamental changes happening across the commercial insurance market driven by digital automation, new types of competition and new types of risk – meaning hard choices for commercial insurance leaders and underwriters today.”

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