Outcomes

Insurance professionals from across the London Market gathered on 4th December 2025 in the Old Library at Lloyd’s of London for LMF’s executive workshop, Gen AI in the London Market: Readiness, Reality & the Road Ahead. Supported by Microsoft and Cognizant, the session brought together underwriters, brokers, operations leaders, technologists and innovators to examine how generative AI is beginning to transform the Market—and how prepared organisations truly are to respond. Facilitated by Roger Oldham, Founder of LMF, the event also unveiled a major research report involving insights from more than 100 senior leaders across 72 organisations.

Market Pulse: Interest Growing, Strategy Lagging

Roger opened the morning by reflecting on the surge of AI discussions across the Market. Live polling showed almost all attendees had used AI in the last 24 hours and believed it would significantly influence their roles within five years. Despite this momentum, fewer than half felt their organisations had a structured AI strategy capable of guiding long-term adoption—a contrast that shaped much of the conversation.

Cognizant Briefing: The Adoption Paradox

Matt Jarman of Cognizant introduced the report’s central finding: the London Market is experiencing an “adoption paradox.” Although 88% of firms are investing in AI, only 5% feel fully prepared to implement it responsibly and at scale. Governance stood out as one of the largest gaps, with limited formal oversight, liability protection, or compliance structures in place.

Much of the Market’s activity remains decentralised, driven by enthusiastic individuals or isolated departmental initiatives rather than enterprise-wide planning. While most firms expect productivity gains in underwriting, claims and operations, many are still applying AI to speed up existing processes rather than rethinking workflows for an AI-enabled environment.

Roundtable Insights: Culture, Capability and Data Foundations

During the collaborative working session, participants discussed the capabilities required for successful adoption. Education emerged as a recurring theme, with many calling for structured training in responsible use and prompt engineering. Attendees also highlighted the importance of cultural readiness—creating psychological safety, managing expectations from senior leaders and supporting junior staff whose learning pathways may change, over time, as more tasks become automated.

Data quality was widely recognised as a limiting factor. Delegates noted that without clean, accessible and well-governed data, even the most advanced AI models struggle to deliver meaningful value.

Panel Discussion: Readiness, Regulation and Reinvention

The event concluded with a lively panel featuring:

• Joanna Wilcock – Microsoft
• Roger Oldham – LMF
• Andre du Preez – McGill & Partners
• Joe Brace – LMA
• Colville Wood – Cognizant

Panellists explored the Market’s readiness challenges, emphasising that the biggest obstacles are cultural and organisational rather than technical. They highlighted fragmented experimentation, inconsistent governance frameworks and a lack of enterprise strategy as barriers slowing adoption. The group noted that firms often turn to AI for efficiency gains, but true transformation requires reconsidering process design, operating models and talent pathways.

The panel encouraged firms to begin with clear strategic objectives, invest early in governance, create communities of internal champions and prioritise education at every level. Microsoft referenced its Responsible AI Framework as a foundation that firms can adapt when building safe and compliant AI practices.

Conclusion: A Market on the Brink of Transformation

As discussions continued informally around the room, one message was clear: generative AI represents a pivotal moment for the London Market. While enthusiasm is high, readiness varies significantly, and firms that invest early in strategy, culture and governance will be best positioned to lead. LMF reaffirmed its commitment to supporting this transition through its Gen AI Working Group, executive dialogues and cross-market collaboration.

For organisations who’ve not yet got started, now is the time to join the conversation.