Inconsistencies in the IT systems used by brokers could jeopardise potential management buyouts and mergers, accountancy firm Mazars claimed today.
A report issued by Mazars suggested only 15% of brokerage firms with a turnover of less than £10m are following recognised industry standards.
The figure for firms with a turnover of more than £10m is just 18%.
Mazars said discrepancies could mean difficulties for smaller companies looking to expand through acquisition or seek buyers.
Senior manager at Mazars Alistair Bennett said: "Worryingly there is no clear standard in place.
“There is also a dependency on small niche consultancies to maintain and develop systems, which can be a very high-risk strategy.”
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
