Ep251 Tom Quy Acrisure London Wholesale: Opportunity Everywhere

Today’s podcast is another really vibrant and forward-looking
addition to the Voice of Insurance canon. I think that’s because
it’s with one of London’s most recently-appointed wholesale
broking leaders, Tom Quy Managing Director Acrisure London
Wholesale Acrisure London Wholesale is a little different from
many of its peers. Yes, it handles most of the same sort of
high-end specialist placements that any other London wholesaler
does, indeed it sources 70% of its business from outside the
Acrisure Group. But it is the scale of the opportunity that it
has by being attached to Acrisure’s impressive retail network
that is particularly interesting. Acrisure has a 5% share of US
commercial insurance but unlike most of its top-10 global
insurance broker peers, 90% of its clients have less than 100
staff. These are clearly not the sort of businesses that would
historically have come to London for their insurance. But here’s
the interesting and exciting part. As tech brings unit costs
right down and allows risk to be packaged in new and more
efficient ways, the London Market and some of its more
differentiated product might be brought to smaller and smaller
original clients in ways that benefit underwriters, clients and
the brokers connecting them. That’s the opportunity that Tom and
is team are getting to grips with and that’s what makes this such
an enlightening and forward-looking discussion. Tom’s challenge
mirrors that of the entire London Market – if  it can keep
driving unit costs down through digitisation while at the same
time keeping product quality, relevance and innovation high, it
will have hit upon a rich winning formula that its brokers will
be able to export around the world. And if it can’t, the
consequences don’t much bear thinking about. Tom’s great company
and is a very strong and open communicator and this Episode is
highly recommended for anyone interested in the best
opportunities in the global wholesale insurance markets. LINKS:
We thank our naming sponsor AdvantageGo:
https://www.advantagego.com