UK businesses want more from their insurance partners, WBN research finds

UK business leaders are more likely than their European counterparts to view commercial insurance as a strategic investment. They are also more likely to say their insurance partners are not doing enough.

A survey of 1,000 C-suite leaders across the UK, France, Germany and Spain, commissioned by Worldwide Broker Network (WBN) in partnership with MarshBerry, puts data behind both sides of that gap. The study finds that 51% of UK leaders view commercial insurance primarily as a strategic investment supporting resilience and business performance – the highest proportion in Europe and broadly matching the 49% recorded in the US. Yet 42% of UK respondents say their insurance partners are not consultative or proactive enough, a figure that points to a gap between what clients expect and what they are experiencing.

WBN is a network of independent brokers, and the research frames advisory broking as the response to the gaps it identifies. The survey was conducted in 2026. WBN has not published the precise fieldwork dates.

Service is the deciding factor

When UK leaders select a broker, quality of service delivery ranks first, cited by 55% of respondents – the highest of any market in the survey. Innovation, digital tools and data capabilities ranks second at 45%. Price and total cost of risk comes third at 35%. That ordering is notable given that 41% of UK leaders name rising premiums as a top insurance concern.

What they are looking for is closer to a risk management partnership, and the 42% who feel their broker falls short on proactivity suggest that expectation is not consistently being met. Research published last month found brokers are failing to make risk management a central part of client conversations, even as insurers develop pricing tools that reward clients who take it seriously.

“As traditional risk boundaries blur and new challenges like AI and cyber risk emerge, clients are increasingly looking for more than just capacity,” said Charles Bromfield, a WBN board member at McGill and Partners in the UK. “They require brokers who can provide laser-focused risk transfer solutions for their most complex placements.”

Olga Collins, chief executive of WBN, said the research reflects how quickly insurance is changing its role within organisations. “It’s becoming integral to business planning on a board level, rather than an afterthought or cost centre,” she said.

Cyber is the sharpest pressure point

Cybersecurity and digital risk ranks as the top business concern among UK leaders at 52%. Cyber insurance gaps follow as the top insurance-related concern, also at 52%. Those two figures sitting at the same level reflects a client base that is aware of its exposure and equally aware that its cover may not be adequate.

That awareness does not yet translate into broad take-up. Government data from the Department for Science, Innovation and Technology shows 35% of UK SMEs have no cyber insurance at all, while Broker Insights research in 2025 found specialist standalone cyber policies cover fewer than 3% of UK businesses.

The Hiscox Cyber Readiness Report 2025 found 59% of SMEs experienced a cyber attack in the prior 12 months, a client base that already knows it is exposed and is looking to its broker to close the gap. Businesses that understand what cyber cover does are more likely to buy it, and the barrier is often language rather than appetite.

Where Europe diverges

Germany trails the region on strategic perception of insurance, with only 29% viewing it primarily as a strategic investment. German leaders are also the only group to rank clear governance and decision-making frameworks on par with proactive risk strategy as a resilience driver, reflecting a more compliance-oriented posture toward risk.

France and Spain sit at 35% each on strategic perception, though their broker selection priorities differ. French leaders favour price above service quality, while Spanish leaders place the highest weight on natural catastrophe capacity, which 40% cite as a top insurance concern.

Geopolitical instability is a top-three risk in France, Germany and Spain but does not feature in the UK’s top concerns, where cybersecurity, AI disruption and economic uncertainty dominate.