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Arrowhead CEO says specialty delegated market is taking an AI wait-and-see
Arrowhead, which placed more than $18 billion in premiums in 2024 and over $20 billion in 2025, said carrier appetite for AI exposure ranges from conservative to opportunist, reflecting tighter capacity as E and S growth slows.
Arrowhead Intermediaries, a delegated underwriting and specialty distribution platform within Brown and Brown, is not rushing to introduce new insurance products tied to artificial intelligence, its CEO Steve Boyd said in an interview with Insurance Business.
Boyd said Arrowhead is not necessarily a first mover because it acts as a steward of carrier capital, meaning it depends on whether partner insurers are willing to put the carrier pen behind specific AI exposures. He added that if a carrier believes risks can be underwritten, selected, and managed, Arrowhead could develop standalone products or incorporate coverage into existing policies, including general liability.
The CEO framed the specialty market's relationship with AI as a range of views among Arrowhead's carrier partners, describing a “dichotomy of positions” from conservative to opportunist. He said Arrowhead trades with more than 400 carriers and runs about 190 programs, and he likened the broader specialty market role on AI to past product innovation catalysts such as cyber and infrastructure buildouts, where exposure identification comes first and product scale follows.
Boyd pointed to current market conditions that have made carriers more selective as E and S growth visibly slows. Insurance Business cited a WSIA 2026 Midyear Stamping Office Premium and Item Report showing $47.6 billion across 15 stamping office states, up 2.8% year over year, while item filings rose 16.9%, and noted that delegated underwriting authorities produced $108.7 billion in direct premiums in 2025, up 17.8%, as AM Best flagged insurers applying more rigorous due diligence.