The Voice of Insurance

Ep275 Christopher Croft, LIIBA: Where Innovation Happens

Nov 4, 2025
In this engaging discussion, Christopher Croft, Chief Executive of LIIBA, shares his insights on the pivotal role Lloyd's brokers play in fostering innovation, often overlooked by regulators. He explores how the Market Reform Programme has shaped the London Market and advocates for better recognition of brokers' risk expertise in trade policy. Croft emphasizes the need for data sharing and collaboration in InsurTech, while also highlighting LIIBA's initiatives in diversity and inclusion. His down-to-earth humor makes complex regulatory topics accessible and entertaining.
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ANECDOTE

Early Regulator Role Exposed Limitations

  • Christopher recounted early work at the Personal Investment Authority handling scams that regulators couldn't resolve.
  • That experience shaped his view on consumer vulnerability and limits of regulatory power.
INSIGHT

Innovation Often Happens At The Broker-Client Edge

  • Brokers are the place where risk identification, modelling and mitigation strategies happen, not just product sellers.
  • Much innovation in insurance occurs when brokers persuade clients not to buy insurance and instead adopt smarter mitigations.
ADVICE

Collaborate To Build Solutions, Not Just Products

  • Collaborate more between brokers and carriers to build solutions rather than isolated products.
  • Focus on resilience and containment (for example in cyber) as well as transferring risk via insurance.
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