Insurtech offers the promise of transformation, but new data suggest brokers appear skeptical. Findings from the 2026 Benevolent Insurtech Trust Index indicate that broker trust in insurtech and its vendors across several trust dimensions is not high.
Consider:
- 67% of broker respondents believe insurtech promises of time savings, efficiency and ROI (return on investment) are overstated;
- 22% of respondents feel that vendors are honest about features, pricing and implementation during the sales process;
- 23% of respondents feel that vendors can be counted on to do what is right;
- 9% of respondents agree that vendors have made sacrifices for them in the past.
Before going further, two methodological disclosures about the inaugural Benevolent Insurtech Trust Index report. First, 67 brokers from across Canada completed the survey. This sample size means results are indicative but not generalizable. Second, attitudes toward various categories of insurtech, including broker management systems (BMS), quoting/rating, email marketing, policy admin systems (PAS), and AI solutions, were used in the findings.
Three themes emerged from the study where trust is breaking down between brokers and insurtech vendors.
The ROI Credibility Gap
When two out of three respondents believe that vendor claims of time savings, efficiency and ROI are overstated, there is a trust gap.
This isn't to say there are no efficiencies or productivity gains that come from using insurtech. Not at all. In fact, 57% of respondents agree that tech adds value to their organization. What is being captured here is the distance between initial expectation and lived experience. It is the feeling that claims or representations of ROI and increased productivity are exaggerated or embellished.
The result is that broker respondents are less likely to take such statements at face value. They want proof. As one respondent stated, "Show me real concrete examples of where our brokerage will see ROI and provide me with contacts that we could follow up with."
Of course, the challenge with relationships is the interpretation of behavior. Humans are meaning-makers, and we assign intent to behavior. As one respondent stated, "So yes tech firms all overstate their ROI and what they can do for you because that's how they get the sale."
Which leads to a second theme from the study: honesty during the sales process.
A Sales Process Brokers Don't Fully Trust
Only 22% of respondents agreed that vendors were honest with them about features, pricing, and implementation during the sales process. As one respondent remarked, "Tech vendors in the insurance space suffer from the over-promise and under-deliver syndrome."
Over-promise. Under-deliver. Overstated claims of ROI. Is it fair to paint every insurtech with this brush? No. But it doesn't really matter.
What matters is the perception that embellishment takes place. Because this is the thought that sticks. It's what gets talked about on convention floors; the "dark social" conversations that can influence buying decisions. Brands and reputations are shaped during these interactions, far from the boardroom table or the shine of new marketing campaigns.
We trust those who we believe will be honest and vulnerable with us, bringing us to the third theme: self-interest and partnering.
Are we really partners?
Consider these two findings: 23% of broker respondents feel that vendors can be counted on to do what is right, and only 9% of respondents agree that vendors have made sacrifices for them in the past.
What do "sacrifices" have to do with economic relationships? Sacrifices are an indicator of partnering behavior, of a willingness to put the interests of the other before our own. What respondents are saying is that they feel vendors are more inclined to put their own interests first, ahead of customer interests. That is, they expect vendors to behave in a self-interested way.
Building trust: What brokers are asking for
Transparency in pricing. Honest product roadmap discussions. Realistic implementation timelines and deliverables. These topped the list of ways brokers suggested vendors improve trust. As one broker offered, "trust grows with insurtech when (vendors) stop overselling roadmap features."
In addition, providing realistic, validated claims about time savings, productivity gains and ROI would also go a long way to strengthening feelings of trust. The opportunity and responsibility are shared between marketing, sales and service to set these expectations.
It may take time and intentional effort, but trust can be rebuilt, especially when shared interests are aligned. One respondent offered a clear partnering view, "Real insurtech success isn't about disruption; it's about reliability, partnership, and making brokers better at serving clients."
Here is a link to the full 2026 Benevolent Insurtech Trust Index report.
