The managing director of niche and non-standard motor risks insurer, Granite Underwriting, says the rising use of technology and artificial intelligence has left brokers engaging with underwriters over how the technology will be applied.

Alistair Rose was speaking as brokers arrived in Manchester for the British Insurance Brokers’ Association annual conference. He said the overriding themes were those of market conditions and technology.

“Brokers are concerned around the current market conditions,” he said. “The majority of motor markets have softened but it is not uniform across all product lines.

“Brokers who have a broad portfolio and work closely with their insurers are those who are likely to manage the market trends.

“Wholesale capacity is always somewhat of a guessing game and brokers are looking for an indication of where their insurers stand when it comes to ongoing support. We are telling our brokers that we will be there for them this year.”

Rose said technology and AI was a significant issue for the market and brokers had their concerns.

“Data and generative AI are particular talking points at present,” he added. “I think we are at an inflection point. Technology is n ow set to add genuine value for insurers, brokers, and clients.

“While technology is becoming an increasing part of the business but brokers and underwriters who combine technology use with personal relationships will be the big winners.”

Rose continued: “There are concerns from the smaller reginal brokers over how technology will change the way they interact with their insurers.

“the conversations we have has with brokers we are quick to ensure they understand that human interaction will remain core to the way we work and we will always pick up the phone.”

He saif the messages the underwriter was sending to brokers at the conference were clear.

“We have had a strong 2024 and we are keen to continue that momentum,” he said. “Br5okers will be central to that aim. We are looking at how we can expand our range of non-standard products  and we are investing in technology with the launch of a new broker portal.”