Insurance DataLab adds insurer performance index to broker governance tool

Insurance DataLab has pushed insurer governance deeper into the placement process, embedding its new Insurer Performance Index into Security Committee-in-a-Box so brokers can back placement decisions with harder evidence. The update is aimed at replacing committee discussions built on local knowledge, historical experience, and manual review with a more auditable workflow that can stand up to regulator and client scrutiny.

The index gives each insurer scores out of 1,000 across four pillars: claims, complaints, solvency, and underwriting performance, along with an overall score. Insurance DataLab says the structure is designed to give committees a common framework for comparing carriers, rather than relying on fragmented spreadsheets or informal memory when deciding which insurers belong on a broker panel. That matters as firms face pressure to show that insurer selection is robust, consistent, and tied to customer outcome expectations.

The debut index made an immediate statement. Only nine UK insurers earned Recommended status, with Simply Health leading the first cohort on 822 out of 1,000. AIG was named the highest-ranked multi-line insurer. Insurance DataLab said the broader platform covers UK, Ireland, and Gibraltar-regulated general insurers, plus Lloyd’s syndicates, on a like-for-like basis, which is intended to make comparisons more useful across a wide slice of the market.

The move also sharpens the compliance angle for brokers. Insurance DataLab says its broker solution provides access to granular insurer performance data, including underwriting performance, solvency, complaints, claims handling, and customer experience. That turns Security Committee-in-a-Box into more than a filing aid: it becomes part of the operating system for broker governance, helping firms standardize how they assess insurers, refine placement strategy, and document why one carrier is preferred over another.

Insurance DataLab unveiled the Insurer Performance and Conduct Report at the BIBA Conference, in association with BIBA and sponsored by SSP. Taken together, the report and the updated tool point to a market where governance is becoming software-led, with evidence capture and insurer benchmarking moving from a back-office exercise to a central part of how brokers defend placement decisions.