ETrading simplicity will drive next wave of digital growth – Polaris UK

The survey of UK general insurance (UKGI) brokers which underpins Insurance Times’ annual Five Star Rating Report: eTrading – which this year polled 750 brokers between January and March 2025 – is the largest and most credible pulse check on how UKGI brokers are engaging with digital trading.

The findings from this year’s survey, which were published in May 2025, tell a clear story – that brokers are demanding smarter, broader and more connected digital trading tools.

In my day job, I oversee Imarket at Polaris UK, an industry owned firm that is focused on providing digital trading technology. Therefore, I am particularly interested in the trends around why brokers choose to trade digitally and whether they opt to do this via a broking system provided by a software house or through an insurer extranet.

I expect that brokers would naturally gravitate towards software house usage, keying in each risk once to then access and compare multiple insurers, prices and covers instantly. That is the dream for most brokers – but this is not quite a reality just yet.

The fact is that broker systems vary – both in their panel breadth and wider capabilities. The emergence of so many product deployments from Bravo Digital Trader, the eTrading platform from Ardonagh-owned Bravo Networks, over the last 12 months just goes to show that there is still plenty of room for new propositions.

On the other hand, the June 2025 decision from US-headquartered software house Applied Systems to retire its Epic platform in the UK reminds UKGI how dynamic – and sometimes uncertain – the software house landscape can be.

Despite this recent flux in the eTrading arena, one message is clear, however – brokers hold the power to influence insurer investment.

When brokers actively place business through a software house, they signal demand. This not only encourages existing panel members to enhance their propositions via this channel, but it also attracts new insurers and MGAs keen to tap into a growing digital trading route.

As a case in point, we saw managing general underwriter Eaton Gate deploy its tradespeople product via Imarket earlier this year to the Bravo Digital Trader platform. We expect other MGAs to follow this same path.

What do brokers want?

This year’s survey results from Insurance Times show consistent year-on-year feedback in terms of why brokers tap into software houses.

Top responses include ease of comparison, streamlined market search and one time data entry – each of these metrics were named by more than 50% of respondents.

But there are new signals worth watching too. For example, between 2024 and 2025, a greater number of brokers cited a wider range of cover options (24% v 27%) and broader range of prices (36% v 40%) as key software house features. These shifts align with the growing product range, volume and insurer interest we’re seeing on the ground.

In contrast, extranets offer a mixed bag. Although brokers often perceive these platforms to offer better pricing and dexterity, in most cases, extranets and software houses pull from the same rating engine. Therefore, price variations are often down to slightly different question sets rather than material underwriting differences.

The biggest hidden cost with insurer extranets is time. Rekeying data across systems, deciphering different question wordings and manually comparing different prices, products and service offerings takes time. Meanwhile, broker software houses typically offer consistent and comparative journeys.

Progress on referrals: Faster, smarter, better

Referrals are often thought of negatively when it comes to digital trading. In reality, they are vital for non-standard risks that still need underwriting judgement. The good news? The industry is getting faster and improving year-on-year.

Complex referrals still take longer – 60% completed in a day versus 55% last year – but the trajectory is positive. Insurers are improving both their speed and consistency, with brokers feeling the benefit.

In terms of what would make brokers place more business through software houses, a new survey question for 2025’s report asked this directly.

The answers were instructive:

• More product types (55%).
• More insurers (52%).
• Lower decline rate (40%).
• Lower referral rate (38%).

The takeaway? Brokers want both breadth and predictability. And insurers have a clear incentive to collaborate with software houses too – build your digital presence on broker systems and brokers will respond.

Interestingly, three interconnected themes also emerged from the latest eTrading report. Brokers want:

• More accurate pricing (23%).
• Reduced question sets (22%).
• More targeted questions to better define risk (19%).

While this may seem contradictory, the nuance is important. What brokers truly want is questions that really matter.

At Polaris UK, we review every standard change through the lens of customer reasonability – would a broker and their client reasonably be expected to know the answer? If not, we suggest either removal or rewording.

Insurers are also leaning more into data enrichment to refine pricing without burdening brokers with unnecessary extra questions. It’s a win-win-win for the broker, customer and insurer.

Brokers are leading the digital charge

The story told in 2025’s eTrading report from Insurance Times is a good one. Brokers are increasingly digital first and the best insurers are responding with smarter products, faster service and more intuitive platforms.

The future belongs to those that enable brokers to work more efficiently. The more a broker can do in one place, the more efficient, profitable and scalable their business becomes.

Let’s not underestimate the power of simplicity. It is undoubtedly what will drive the next wave of digital growth.