UK Business Leaders Prioritized Service Over Broker Price
A new survey found that most UK executives view insurance as a strategic investment rather than a cost-cutting measure.
Updated on Oct. 5, 2026 in Insurance
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UK business leaders have identified service quality as the top factor when selecting insurance brokers, signaling a shift toward viewing coverage as a strategic business asset. The findings indicate that 55% of executives prioritize consultative support over total cost, despite concerns over rising premiums.
Why it matters
Business leaders increasingly view insurance as a vital component for resilience, yet many find their current brokers lack the necessary proactive engagement. This gap highlights a disconnect between the evolving risk management needs of modern firms and traditional insurance service models.
A survey of 1,000 C-suite leaders found 51% of UK executives view commercial insurance as a strategic investment. Meanwhile, 52% of UK leaders identified cyber risks as their top concern, though 35% of SMEs remain without specific cyber insurance coverage.
The players
Worldwide Broker Network
This global organization facilitates collaboration among independent insurance brokers.
MarshBerry
This firm provides advisory services and investment banking specifically for the insurance industry.
The details
The research, commissioned by the Worldwide Broker Network and MarshBerry, underscores a critical vulnerability in the digital landscape where fewer than 3% of UK businesses hold standalone cyber policies. This deficit persists even as 59% of SMEs reported experiencing a cyber attack during 2025.
Timeline
59% of SMEs experienced a cyber attack in 2025.
September 2026 marked the publication of research regarding broker risk management conversations.
October 5, 2026, saw the release of survey results regarding broker service and strategy.
Market Dynamics
This focus on insurance coverage gaps follows the pattern set by the 2025 SME cyber attack prevalence rate, which highlighted the urgent need for improved digital risk management. The industry is currently moving away from commodity-based pricing toward integrated risk partnership models.
Businesses may face higher premiums as insurers adjust to the evolving cybersecurity threat landscape. Retail investors and stakeholders should monitor whether these brokers can effectively close the coverage gap for the 35% of SMEs currently lacking protection.
The takeaway
Executives should re-evaluate their broker relationships to ensure they are receiving proactive risk management advice rather than just policy placement. Prioritizing service quality could prove critical for businesses facing the rising threat of cyber attacks.
Further reading
Learn more about the latest trends in the industry by visiting the Insurance section.
Live Poll
Do you feel your professional service providers are proactive enough in addressing your business needs?
