Insurance Times Advent Calendar: Ian Hughes

Open your advent calendar below!

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What was your insurance industry highlight of 2025?

For me, the standout moment was the collapse in switching and shopping. We could see the trend turning in the data months before it was felt in the market and, when it finally hit, it forced the industry to step back and ask harder questions about what real, sustainable growth looks like.

Many firms revisited the fundamentals – pricing, value, product shape, consumer engagement – because the behavioural signals left nowhere to hide. It also triggered some of the biggest strategic moves in years, including consolidation plays driven by the need for scale.

And, of course, 2025 was the year the general insurance pricing practices (GIPP) truly bit. You could feel the shift from headline price to total value. In many ways, it’s been a reset year – a necessary one – and the data has been telling us this was coming for a while.

What is your Christmas message for your insurance colleagues?

To everyone across the industry, I want to offer a simple Christmas message – take a breath. It’s been a difficult year in places, but the underlying indicators show it’s been steadier than it felt. In fact, I suspect that a few years from now we will look back on this Christmas and say we never had it so good.

Costs remain stable, consumer trust remains and there’s still room for thoughtful choices. My hope is for a peaceful New Year where the industry can focus on what really lies ahead – particularly the growing impact of artificial intelligence (AI) across every part of risk.

What do you hope to find under the industry’s Christmas tree for 2026?

What I’d most like to find under the industry’s Christmas tree is a peaceful year – stable costs, steady regulation and a consumer base who aren’t hit by unexpected shocks. A bit of calm would give the market space to fully engage with the structural shifts already underway.

The biggest of these is the rise of AI and what it means for every part of risk, from underwriting to fraud to claims. Innovation won’t slow, but a quieter 2026 would help more of the industry prepare. Peaceful or not, we’re ready to support that journey.

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