With 2026 underway, it’s a timely moment to take stock of the pressures shaping our operating environment, and the role insurance brokers continue to play on the frontline.
Across Australia, extreme weather is no longer an occasional shock to the system; it’s a persistent headwind. Bushfires and flooding across Queensland and Victoria have again tested the resilience of households, businesses and communities. In the thick of it, brokers have been helping clients navigate uncertainty, progress claims, rebuild, and make sense of what comes next.
But the consequences are compounding. The growing frequency and severity of events is putting upward pressure on premiums and driving higher reinsurance costs. Layer in cost-of-living pressures, and insurance affordability and accessibility remains a real challenge, with the threat of underinsurance more present than ever. At NIBA, we see these as long-term issues. And as the peak body for the insurance broking profession, we know meaningful progress requires more than just good intentions; it demands a strategic roadmap that positions the profession to be future-ready.
At the end of last year, NIBA released our landmark thought-leadership report, Ready or Reacting? Shaping the Future of the Insurance Broking Profession. Its purpose was simple: to set a decisive agenda for the decade ahead, and to challenge all of us to embrace adaptability as a profession.
The report paints a clear picture of what “future-ready” looks like by 2035. Brokers who thrive will deepen their role as strategic trusted advisers, become digital innovators, and help lead Australia’s resilience conversation, as technology, regulation and emerging risks reshape what clients need from us.
Importantly, the report also identifies eight disruptive forces that will have an impact on the profession in the near future. Brokers ranked technology and automation, regulatory demands, and the new risk landscape as the top three forces over the coming decade. The data highlights a significant preparedness gap we cannot afford to ignore.
First, technological disruption is outpacing preparedness. While 83% of respondents expect technology and automation to have a significant impact by 2035, only 61% feel prepared. That gap is a call to action: don’t just adopt tools, but rethink processes, capability, and the client experience end-to-end.
Second, the complexity of the regulatory landscape is increasing. 86% of respondents anticipate increased regulation is likely or very likely by 2035, yet only 62% feel their business is prepared. In an environment where trust, transparency and accountability are under the microscope, preparedness is key.
Third, the risk environment is rapidly evolving. 76% believe brokers will need to expand into new risk domains to remain relevant, but only 64% feel prepared to navigate that changing landscape. From cyber and supply chain disruption to climate-driven volatility and emerging liability exposures, brokers will increasingly be asked to connect risk dots earlier, and advise with confidence.
This presents a strategic opportunity for the profession. Brokers who lean into technology, education and strategic advisory won’t just keep pace, they will define what good looks like in 2035 and beyond. For NIBA, that’s our opportunity: to help brokers build capability, elevate professional standards, and advocate for a policy environment that supports innovation while keeping consumer outcomes front and centre.
As we look ahead, one principle remains non-negotiable: Australians must continue to have a high level of trust in the value we deliver as a sector.
The Insurance Brokers Code of Practice sets out the standards and values that guide brokers across Australia in serving their clients. It plays a central role in promoting trust, professionalism and ethical conduct within our profession. It ensures what clients experience in practice aligns with what they should expect in principle.
But the reality is that expectations are evolving. Clients increasingly want clearer communication, greater transparency, and advice that reflects the complexity of their lives and businesses. Regulators and government expect robust standards that keep pace with a changing environment. And brokers themselves want a framework that supports best practice while remaining practical, relevant and meaningful.
That’s why we’re currently undergoing a thorough and independent review of the Code. The review process is designed to ensure the Code:
• remains fit for purpose in a changing regulatory and commercial environment
• meets rising expectations of clients, government, regulators and other stakeholders
• continues to strengthen trust and confidence in the role brokers play for their clients.
As the unified voice of the insurance broking profession, NIBA is committed to maintaining a Code that strengthens consumer confidence, elevates professional standards, and ensures Australians have access to trusted risk advice. This review offers valuable insights that will shape the next chapter of our Code as a genuine opportunity to lift the bar for the benefit of the communities we serve.
I also want to acknowledge the stakeholders who have contributed to the process, including regulatory bodies, consumer advocacy groups and individual contributors. The diversity of perspectives has enriched the review and will help ensure the Code continues to serve all Australians. And, importantly, I want to thank our members. Their input has been invaluable in capturing how clients experience broking services alongside the realities of professional practice.
Taking a step back, the purpose behind both the research agenda and the Code review comes into focus: it’s all about strengthening consumer outcomes.
That philosophy has guided NIBA’s long-term strategic thinking and our advocacy for the profession. Because the best version of insurance broking is not defined by what we say about ourselves, but by what clients experience when it matters most.
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That’s why I’m excited to preview our next piece of groundbreaking research, due to launch later this month: Complexity to Clarity: The Broker Advantage. This report is a client-led view of the measurable impact brokers have when risk is complex and uncertainty is constant.
If Ready or Reacting set the profession’s agenda, Complexity to Clarity delivers the profession’s mandate. It provides evidence, from the people who matter most, that brokers are trusted advisers who remove friction, create confidence and improve business outcomes.
For the profession, this research will deliver something incredibly powerful: clarity about why clients and consumers choose brokers, what drives trust, and where our value is most tangible. The data is overwhelmingly positive, but we won’t rest on it.
In 2026, NIBA will use these insights to keep building capability, lift professional standards, and strengthening the broker value proposition for Australian families, businesses and communities. The year ahead will bring challenges, but it also brings an opportunity to lead with confidence, adapt with intent, and keep proving, every day, why trusted advice matters.
