The transition, to take place in the coming weeks, will see Simon Badley take up an advisory position.

“This is the right time for me to step back and for the business to move forward with leadership focused on that next chapter,� said Badley, who joined the Worcester firm in 2019.

Barnard joins Open GI from Aviva General Insurance, where he most recently served as its COO, leading a team of over 1,500 and accountable for technology, transformation and change delivery of the largest general insurance business in the UK.

He previously held numerous senior roles of increasing responsibility within the broader Aviva business and served at the Ardonagh Group, latterly as COO leading the CIO, CISO, transformation and other key operational functions.

The leadership transition comes as Open GI enters its next chapter of growth, having secured new capital from its majority shareholder in 2025 and initiated a strategic plan focused on offering advanced technology solutions, talent acquisition and development, and superior customer service.

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“On behalf of the board, I am delighted to welcome James, a highly regarded and proven leader, to Open GI following a robust search process,� said Peter Thompson, chair of Open GI.

“With deep sector expertise and a strong background in technological transformation and talent development, James is well-positioned to lead Open GI through its exciting new chapter of growth focused on R&D, data, GenAI, people and our customers.�

Barnard said: “I am thrilled to join Open GI, a company I have long admired, at such a pivotal and exciting time in its growth journey.

“Open GI benefits from a strong suite of technological capabilities, a loyal and quality customer base, and an experienced leadership team.

“As the sector continues to evolve rapidly, Open GI is on a strong footing to capitalise on the opportunity set and solidify its market leadership.�

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By the time we meet at Hyde Park for a ‘run and talk’, the rain is coming down under heavy grey skies. Ernesto may have grown up in the Miami heat – but it would take a great deal more than the UK’s changeable spring weather to dampen his enthusiasm.

“I love seeing everyone having an impact on my business,â€� the Gigasure founder and CEO tells me later in our run. “A²Ôd they need to know it, too.

“Everybody’s got to be aligned in the startup phase to exceed the targets, to deliver on the promise. That’s the best part of building a business: the period where you get excited for someone coming to a meeting and delivering to you what a web page is going to look like; what the product can do; or what the technology can solve. 

“It’s all so exciting. It’s kind of like a dopamine hit – just like running.â€�

Ernesto should know: he is the only Salvadoran to run all seven Abbott World Marathon Majors. “I think really good while I’m having a run – it takes me out [of the business] and I create a lot of empathy in my thinking,â€� he explains.

“It’s something the industry has only just started to talk about, but I’ve always been a very empathetic leader in my businesses. I look after my teams; I have to personally enjoy who I work with; and they need to know that. 

“But I also love it when my team is built of people that are smarter than I am at their field, because I lean on them.�

Competitive advantage

Born in Paris with business studies in Boston and Barcelona behind him, Ernesto started out working on Wall Street. “I wasn’t actually looking for a job in insurance – it just happened. I joined AIG and spent the first 10 years of my true financial services career there.

“That’s where I picked up a lot of my insurance know-how and accreditations. It was a necessary period for me to also learn the industry.â€�

Settling in London, where he grew AIG’s personal lines division from scratch, he says he was always looking for an opportunity to build something. The experience with AIG was a competitive advantage in starting his own ventures, starting with Halo Insurance Services, as he understood both sides of the value chain.

“When you start your own business for the first time, you’re also learning how to raise capital; who to partner with; how to build your team,â€� he says. “At AIG I was already managing a large team, so I had the confidence that I could build one at a startup. I felt like I was on top of everything as we built Halo.

“The traits you learn in a corporate are very critical, I think, when you start a business: it also brings that discipline of going to work, of doing reports, generating insight and understanding, and being accountable.�

His previous experience was also key to convincing investors to back the firm with patient capital.

“Investors don’t really home in 100% on your idea; they really home in on the person presenting that idea – whether you have the credentials, the trust. It’s like going to an interview.

“But nothing can be done with my businesses if I don’t surround myself with a good team, because insurance is full of specialists, and you need them to guide you through the risk: underwriting risk, product risk. 

“If you don’t have a good idea how insurance works, you could end up just providing fallacies of what you’re going to deliver.â€�

Timing & luck

Halo sold car hire excess insurance which customers understood and at a price point 60% under the prevailing price point.

“Our product became a consumer champion story very easily,� he says. “All the papers would write about people being fleeced and the predominance of fear tactics… and here was the antidote. It was perfect timing.�

Somewhat modestly he says luck, as well as timing, is hugely important to succeed as an entrepreneur.

“I’m getting that same good luck again with Gigasure. But the whole point is reading the room: if you’re good at that, that can transfer into your new venture.â€�

Having sold Halo to Zurich Insurance Group in 2017, it would become part of the Cover-More group portfolio, with Ernesto appointed UK manager for the latter during his earnout period. By 2023, he was ready to target travel insurance with Gigasure.

“It’s a bit of a continuation of my first business,â€� he says. “We were thinking of doing travel at Halo, but we never got to do it because we were so busy with the exit purchase; we then tried to get Cover-More to support us, but that wouldn’t fly either.

“I then saw COVID wipe out three-quarters of the travel propositions in the insurance market: it went down from more than 1,200 to about 430. So I knew that when the market picked up again, we would be dealing with less competitors.�

Still speaking easily as we begin the next mile of our run, he continues: “We’d had a very successful exit with Halo and made people a lot of money – but this time I wanted to avoid complicated sources like VC and go private.

“I tapped the people I know in my network. They all supported me. And now I have all my funding through private angels.�

Gigasure

Gigasure, a star of our InsurTech 50 ranking, is redefining how insurance is delivered into the travel industry. Through an app, it provides flexible, customisable, upgradable policies, as well as real-time parametric benefits – a type of insurance that covers the probability of a loss-causing event happening – through GigaShield. Users can access instant payouts for flight and baggage delays.

“My target market was Gen-Zers and Millennials,� says Ernesto. “We decided to build a hero app to support all the self-service needs to manage your policy; and on top of that, make the product more modern and engaging.�

His approach is to partner with companies such as Blink (parametric insurance) and Miss Moneypenny (digital wallet cards). By collaborating with others in the InsurTech ecosystem, Gigasure’s proposition is better than that of everybody else, he says.

“Building a brand was something that I didn’t have a great time doing in my first business, because it was mostly built from search and PPC. 

“With this one, we needed a brand identity to establish ourselves as a product in the market that could trade through aggregators.�

Gigasure

Gigasure has around 10 staff and there are several nationalities within the business. Rather than spending crucial money on recruitment agencies, he has reached out to former contacts with specific insurance experience to build a highly productive team.

“A²Ô entrepreneurial journey is very personal, and you don’t want to mix those personal goals with what the business needs operationally,â€� he acknowledges.

“For me personally, I want to continue testing new technologies into insurance to see what’s possible. But you want to keep it practical.

“With AI, for example, some people are on the bandwagon; some are not; and I’m somewhere in between. We’re a distribution business, and there’s nothing better in insurance than building relationships – so people are still key.

“With AI, while you’re a startup, you don’t have to prove yourself; whereas if you’re Direct Line and you’ve got millions and millions of policyholders, it could do something more impactful.â€�

Before leaving the cold behind in favour of a warm Notting Hill cafe, Ernesto tells me he is planning to run the New York City Marathon with his son this year. What time does he expect this 22-year-old to set, I ask?

“Under three hours: I hope to spend some time with him in the pen before the start because I won’t see him after that!�

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The firm says the appointments come at a pivotal moment as Genasys establishes itself as a true mid-market challenger to the enterprise policy administration software incumbents. 

Both appointments bring significant depth of experience across insurance operations, technology transformation and strategic growth, further strengthening the company’s leadership as it enters its next phase of expansion.

Genasys | Insurance Policy Administration Software

Hessing brings over 40 years of experience in the financial services industry, spanning major property and casualty and life insurers. He spent a decade at KPMG delivering major transformation projects for clients including Swiss Re, Barclays Insurance and Norwich Union Life (now Aviva), before spending 14 years at Aviva in a succession of senior executive roles including UK Claims Director, CEO of Aviva Ireland and Group Automation Director. 

His most recent corporate position was UK Chief Operating Officer at Aviva, with responsibility for data, operations, IT, CISO and first-line governance, followed by Group Chief Operating Officer at Direct Line Group. Hugh now runs his own advisory business, supporting start-ups and scale-ups delivering new technology to the insurance industry.

Routledge is a seasoned corporate finance and private equity professional with deep roots in the insurance sector. A qualified lawyer, he began his career at Webber Wentzel (now in alliance with Linklaters), specialising in international financial law, structured finance and mergers and acquisitions. 

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In 1995, he co-founded Capricorn Ventures International (now Yellowwoods International), the investment arm of the Enthoven insurance group, which encompasses Hollard Insurance, Auto & General and Budget Insurance, among others. 

He managed strategic investments across the group, including in Clientele Life Assurance Company Limited, where he now serves as Chairman of Clientele Limited (listed on the JSE), alongside chairmanships of Clientele Life Assurance, Clientele General Insurance, 1Life Insurance and Emerald Life. 

He is a former board member of Genasys Holdings, the group’s holding company.

Andre Symes (pictured), CEO of Genasys, said: “We are thrilled to welcome Hugh and Gavin to the Genasys board. Hugh’s operational experience at the very highest levels of UK insurance, combined with his passion for technology-led transformation, makes him an invaluable addition. Gavin’s strategic acumen and long-standing involvement in the insurance investment landscape bring a perspective that will be instrumental as we scale. These appointments reflect our ambition and our confidence in the path ahead.�

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Beazley ‘unanimously rejected’ a £7.7 billion takeover bid from fellow insurance giant Zurich – which is listed in Switzerland – last month following previous failed takeover attempts last year.

However Zurich has now been successful with an increased bid which values the FTSE 100 firm Beazley at £8bn.

The deal, which will be recommended to shareholders if formalised, is for 1,335 pence per Beazley share – 1,310p in cash and a 25p permitted dividend payout prior to completion.

The deal represents a premium of 59.8% to Beazley’s closing share price of 820p on 16th January, the last business day prior to the offer period; and 34.6% to Beazley’s all-time high share price of 973p on 6th June 2025.

The £8bn figure is also 62.8% higher than Beazley’s market capitalisation in mid-January.

Zurich said the transaction would “combine two highly complementary businesses and would establish a leading, global specialty platform with around $15bn of gross written premiums, based in the UK, which would also leverage Beazley’s Lloyd’s of London presence”.

The acquisition will be funded through a mix of existing cash, new debt facilities and an equity placing if it goes through, and will support Zurich’s broader ambition to grow its specialty unit.

Beazley, a specialist risk insurance and reinsurance company with a strong focus on cyber insurance, will announce its results for the full 2025 financial year on 4th March 2026.

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The raise marks a major milestone for Artificial as it continues to grow and expand its global market presence.

The round was led by CommerzVentures, a leading European Fintech investor, with support from Move Capital Fund I, a leading European B2B Tech investor, and existing investors.

“This round gives us the room to grow with confidence,� said David King, co‑founder of Artificial. “The investment allows us to scale in a way that keeps pace with our clients. We have the teams, the technology, and the stability to support the largest brokers and carriers as they modernise how they operate.�

Artificial expects to double in size over the next 12 months, reinforcing its position as one of the strongest insurance technology partners in the market. The business will also expand its global footprint into the US in 2026, while growing its presence and consolidating its leadership position in the London market.

“We have built a platform that solves real problems for insurance,� said Johnny Bridges, co‑founder of Artificial. “With this investment, we will grow our team, continue to innovate, and ensure that Artificial remains the natural choice for brokers and carriers seeking a smarter way to trade digitally.�

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Alongside CommerzVentures and Move Capital Fund I, the round includes continued backing from existing investors, including Augmentum Fintech, 6 Degrees Capital, FOM, and TrueSight Ventures, reflecting their ongoing confidence in Artificial’s direction and long-term strategy.

“We are thrilled to support Artificial as they extend their leadership globally,� says Heiko Schwender, managing partner at CommerzVentures. “We have been backing next‑generation technology businesses for more than a decade. 

“Artificial’s platform addresses a real, structural problem that has constrained efficiency in commercial and specialty insurance for decades. The team’s combination of deep insurance domain expertise and world‑class engineering is rare, and it uniquely positions them to redefine this market.�

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The FTSE 100 firm said the offer of 1,280p in cash per share, which comes after a previous offer was snubbed, ‘materially undervalues Beazley and its longer-term prospects as an independent company’.

The offer represents a 56% premium to Beazley’s 820p closing price on 16th January 2026. However Beazley’s share price has risen around 40% since then and currently stands at 1,138p, giving it a market cap of £6.8bn.

The board said it had received three proposals from Zurich in June last year and provided it with certain limited due diligence information in ‘good faith’.

The last of those – also rejected – was for 1,315p per share at an implied equity value of £8.4bn.

Beazley cited five reasons why it should remain as an independent listed company: a track record of delivering shareholder value; underwriting excellence; cyber leadership; superior return generation; and strong capital and reserves.

It has returned over $2.5bn of capital to shareholders over the last 10 years, with $1.3bn having been returned over the past three years.

On Monday, Zurich framed the deal as a strategic push to build a stronger global platform in specialty insurance, combining the two businesses into a group with around $15bn of gross written premiums. 

It said the enlarged operation would benefit from Beazley’s Lloyd’s footprint and underwriting expertise, alongside Zurich’s scale, reinsurance capabilities and technology infrastructure. 

The acquisition would be funded through a mix of existing cash, new debt facilities and an equity placing if it goes through, and will support Zurich’s broader ambition to grow its specialty unit.

Beazley, a specialist risk insurance and reinsurance company with a strong focus on cyber insurance, will announce its results for the full 2025 financial year on 4th March 2026.

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Defaqto says the move significantly enhances its portfolio of data and technology solutions for the UK retail financial services and insurance industries.

The acquisition, completed through Defaqto’s parent company Fintel plc, brings together product and pricing data to create a ‘unique’ proposition for insurers, advisers and consumers.

John Milliken, CEO of Defaqto, commented: “We are extremely excited about this strategic acquisition. The Pearson Ham Group pricing business is a profitable, growing, cash generative business with a rich historic data set and a strong value proposition that is invaluable to the UK insurance industry. 

“The winners in the AI economy will be those with unique, valuable, proprietary data and expertise who can also innovate to benefit their customers. Through the combination of unrivalled product and pricing data, Defaqto has the tools to help the industry to better understand and deliver consumer value.

“This strategic move further reinforces Defaqto’s position within the personal lines insurance market, strengthening our role as a leading provider of market intelligence and technology. Acquiring pricing data to complement our market leading product data is critical. 

“The unique combination of product and pricing data will help providers build smarter financial solutions.�

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Matt Timmins, CEO of Fintel plc, added: “This acquisition is an important milestone in growing our Software and Data division. It exemplifies the type of high-quality, synergistic acquisition that we target as part of our strategy – enhancing our capabilities, deepening our market position, and reinforcing our position as the strategic technology and data partner to UK financial services.�

The market pricing business will initially operate as a standalone entity before being integrated into Defaqto during 2026.

Stephen Kennedy, CEO, Pearson Ham Group market pricing, said: “We are delighted to become a part of the Defaqto family, because of the exciting ideas we have to grow the business and Defaqto’s proven ability to integrate and add value to the businesses they acquire.�

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The partnership will upgrade Intermont’s core pricing and underwriting operations while creating a strong foundation for Optalitix’s expansion into the Dutch market.

As part of the project, Intermont is implementing Optalitix Quote and Optalitix Models to transform existing Excel-based pricing and underwriting models into cloud-based, end-to-end pricing and underwriting systems. The project will begin in Q1 2026, with full go-live planned in Q2/Q3 2026.

The platform will replace manual, fragmented workflows with a fully digital, integrated process. This includes centralised model management, automated workflows, faster quote delivery, reduced human error, and real-time portfolio data capture to improve risk selection and decision-making.

Optalitix – futureproof your pricing

Dino Mantovani, Enterprise Sales Executive at Optalitix, said:
“This partnership with Intermont is a landmark moment for Optalitix in the Netherlands. Intermont will benefit from increased agility and flexibility without the need for costly, bespoke system builds, while gaining the scalability required to expand across new products, regions, and growing business volumes. The partnership will also accelerate speed-to-market and significantly improve operational efficiency, strengthening Intermont’s competitive position.�

Jeroen Baart, Managing Director at Intermont, said:
“By working with Optalitix we are improving our commercial underwriting and strengthening how we present our portfolio to capacity providers. The platform helps us demonstrate control, transparency, and granular insight in our book of business.�

Pascal Durant, Head of ÀϾÅÆ·²è Development & Underwriting Director Casualty & Marine at Intermont, added:
“The partnership with Optalitix enables us to take the next step towards becoming a data-driven MGA. It allows us to analyse and process data more efficiently to develop stronger underwriting models and propositions.â€�

Ognjen Jovanovic, Operations Director at Intermont, said: “Optalitix understands how an MGA works in practice. This partnership is about giving our brokers a smoother experience, our underwriters better tools, and our carriers a deeper, data-driven view of the portfolio.�

Intermont is a Dutch MGA managing delegated authority for multiple insurers and writing a commercial portfolio of over €120 million. It specialises in tailored insurance solutions for public and institutional clients and manages more than 200 public tenders each year.

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Acuity has long-standing relationships with some of the UK’s largest and most influential pension schemes, including the NHS and Civil Service Pension Schemes, as well as central government departments. 

It delivers services across central government and the wider public sector, supporting high-profile projects ranging from major change and programme management initiatives to evidence-led communications strategies and campaigns. 

Following completion of the acquisition, the business will join Lumera’s UK organisation, expanding the group’s UK workforce to around 165 employees. Financial terms of the transaction have not been disclosed.

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“Joining forces with Acuity adds major new clients and capabilities, in line with our strategy to strengthen our foothold in strategically important sectors in key markets,� said Jonas Alfredson, CEO of Lumera Group. 

“Combining their proven expertise across health, central government and other public sector bodies, with our technology prowess will create new opportunities for further growth in the UK, enhance our client offering, help attract more clients, while reinforcing our commitment to being a trusted advisor to some of the biggest Life and Pensions providers across Europe. 

“I am delighted to welcome their experienced and dedicated team to our business.�

Pippa Campbell, director of programmes at Acuity, added: “We are delighted to become part of Lumera. 

“Our shared values of simplifying complexity and customer-first thinking in the complex world of pensions make Lumera the perfect partner for our consultancy team. 

“We’re excited to bring our experience of programme management and behavioural insight to Lumera’s portfolio and look forward to helping shape the future of pensions advisory and pensions administration.�

Lumera now operates across the UK, the Netherlands, Norway, Sweden, India and Vietnam. 

The company provides technology solutions for insurance administration, data management and migration, alongside services that combine technology and industry knowledge tailored to local markets.

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Limitations of legacy processes

Older operational models depend heavily on manual documentation, siloed databases and paper-based procedures. These methods create multiple issues, including delays and a lack of visibility across the organization. Claims departments in particular struggle with incomplete information, repetitive data entry and limited coordination. 

The result is slower claim resolution and higher operating costs. When insurers cling to legacy structures, they restrict their own ability to scale, innovate and respond to customer needs. It is here that modern solutions offer a meaningful improvement. 

Many insurers show interest in upgrading after observing real-world examples of digital efficiency and of how outdated processes hold their teams back often becomes the decisive factor.

The role of a unified digital core

A modern replaces scattered tools with a single environment that manages policy administration, billing, underwriting and claims. This unified structure enables smoother communication between departments and breaks down barriers that cause delays. 

Automating repetitive tasks shortens processing times and reduces the risk of error. Staff members gain clearer visibility into workloads, which allows them to prioritize tasks more efficiently. 

This type of system is also scalable, which means it can adapt as the organization grows or expands into new product lines. Cloud-based infrastructure ensures accessibility, stability and consistent performance with lower maintenance costs.

Transforming claims handling with claims management software

Claims management sits at the center of customer trust. When a customer submits a claim, they expect fairness, speed and clear updates. By integrating into the core system, insurers can manage important tasks within one process. 

This connection reduces confusion for customers and provides staff with real-time information. Faster decisions improve customer satisfaction and reduce the volume of follow-up requests. Modern claims technology also supports data analytics, helping insurers evaluate trends and improve future decision-making.

Enhancing customer experience

A digital transformation is not only about operational convenience. It is about delivering a modern customer experience. When customers can submit claims easily and receive updates without repeated phone calls, they feel valued and informed. 

Transparency builds trust, which in turn strengthens long-term customer loyalty. Digital communication tools make it easier for customers to understand their policies and manage their coverage.

A path toward future readiness

By transitioning to a unified digital insurance platform, insurers position themselves for long-term success. They gain efficiency, reduce costs and provide better service. Modernization allows organizations to adapt quickly to regulatory changes and shifting market expectations. 

Although the transition requires investment, the long-term advantages prove decisive. Insurers that embrace digital methods such as insurance software and a policy administration platform, now will be better prepared for future challenges and opportunities.

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