A recent survey by GlobalData found that price and speed of response are key factors for insurance brokers when choosing which insurer to place business with. The 2025 UK Commercial Insurance Broker Survey revealed that 28.4% of respondents considered price or premiums to be the most important factor, while 8.8% prioritized the speed of response to queries or quotes. This highlights the need for insurers to balance competitive pricing with operational efficiency and responsiveness.
The survey’s findings are supported by Aviva’s recent partnership with ICE Insurtech, which has enabled the insurer to streamline its operations and provide a fully digital customer journey. By implementing ICE’s policy administration system, Aviva has reduced its quote turnaround time by half, resulting in improved customer satisfaction and retention. The integration of advanced technology has also allowed Aviva to cut IT costs, which has been passed on to customers in the form of reduced premiums.
The digital transformation of the insurance industry requires a fundamental shift in business models, with insurers needing to modernize their operations, enhance customer journeys, and offer competitive pricing to thrive. Those who embrace change and prioritize customer-centric solutions will emerge as leaders in the market. Companies that can deliver both competitive pricing and rapid response times will be better positioned for success.
The case of Aviva serves as a compelling example of how strategic partnerships and technological investments can yield significant benefits. By leveraging technology to reduce operational costs, insurers can pass the savings on to customers, enhancing their competitive edge. As the insurance landscape continues to evolve, it is clear that digital transformation will play a crucial role in determining which companies will succeed.
In conclusion, the survey’s findings and Aviva’s digital transformation journey highlight the importance of competitive pricing, operational efficiency, and responsiveness in the insurance industry. Insurers that can effectively modernize their operations, enhance customer journeys, and offer competitive pricing will be well-positioned to thrive in the coming years. By prioritizing customer-centric solutions and embracing digital transformation, companies can gain a competitive edge and emerge as leaders in the market.