Niraz Buhari: Bridging the Gap between Tradition and Innovation in Insurance


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As the founder and CEO of City & Commercial Insurance GroupNiraz Buhari is a seasoned entrepreneur and visionary who lead the company with innovation and strategy. During his career, he has acquired insurance brokers and intermediaries across the UK and the globe, expanding the group’s footprint and influence. He oversees a workforce of over 200 employees and 1000+ contractors in 6 countries and 3 continents, making a global impact. Besides his success in the insurance sector, Niraz also runs a start-up incubation and venture capital initiative that fosters innovation and facilitates several business acquisitions worldwide. He supports entrepreneurs with product development and global market expansion, showing his commitment to nurturing talent.

Niraz is a seasoned strategic planner and expresses in negotiation, business planning, strategy, and sales & marketing, making him a recognized force in the business world. He earned the accolade of the Insurance Business Magazine Young Gun of 2018 for his achievements which was followed by several recognitions including finalist on the Business Person of the Year award regionally and the insurance industry by Herts Business Awards by KPMG and  Insurance Innovation award UK to name a few.

Innovative Vision and Customer-Centric Values

City & Commercial Insurance Group offers easy, straightforward, and fair insurance and Reinsurance solutions for individuals, businesses, and corporations. The Group’s innovative approach to risk management has earned them a reputation for forward-thinking and numerous awards.

The Group’s key strength is its commitment to creating value through a diverse and innovative approach. This is evident in its development of unique propositions, distinctive distribution methods, and high-quality products. The Group implements an end-to-end value chain that benefits customers and empowers business partners to deliver exceptional service and solutions.

The company’s strategic vision is to make insurance an easy, embracing, and positive force in the world, with customers as the focal point. This vision is supported by a culture of innovation and progressiveness, where the company does not settle for the status quo but pushes boundaries, expands into new sectors, and introduces innovative services. The company adapts constantly to stay relevant and effective in today’s ever-changing world.

Diversified Risk Management Solutions

City & Commercial Insurance Group provides a diverse array of products and services to meet the challenges of today’s complex and unpredictable world. The company offers specialized risk management and prevention services for companies of all sizes.

The company delivers a spectrum of offerings in the commercial insurance sector. These include Business Legal Expenses Insurance, Business Contents Insurance, Professional Indemnity Insurance, Commercial Property Insurance, and more. The company aims to empower businesses to build security and resilience by identifying, assessing, and quantifying the risks they face.

The company also extends its expertise to consumers, landlords, and homeowners in the personal lines sector. Products such as Consumer Electronics Warranty Insurance, Home warranty, and various residential and landlord insurance options ensure comprehensive protection for individual property owners and Landlords.

C&C Re, a part of City and Commercial Insurance Group, is a leading intermediary in the reinsurance sector. C&C Re operates globally and caters to insurance companies of all sizes, emphasizing risk management practices. The company underscores the significance of reinsurance in maintaining solvency and capital efficiency across the insurance industry and its crucial role in mitigating global risk.

Blockchain Revolution in Insurance: Overcoming Inefficiencies

Niraz faced challenges in the insurance sector due to the inefficiencies and complexities of the traditional insurance arrangement. He encountered issues such as customers’ reliance on brokers, paper-based contracts prone to errors, and long settlement periods.

Niraz addressed these challenges by leveraging the blockchain in the insurtech sector. He recognized the potential of blockchain’s core characteristics: trust, transparency, and immutability. He aimed to revolutionize the insurance processes by implementing blockchain technology, creating a single source of real-time information, and reducing friction.

Furthermore, Niraz adopted Distributed Ledger Technology (DTL) and smart contracts, which automated and streamlined various stages in the insurance process. This innovative strategy enhanced efficiency and transparency and addressed information loss and policy misunderstandings.

COVID-19 Impact on the Insurance Industry 

According to Niraz, The COVID-19 pandemic has disrupted the insurance industry, creating new challenges and opportunities. Lockdowns and pandemic-related coverage strained reserves and highlighted the need for a sustainable cost structure. The decline in global trade during the pandemic reduced the demand for insurance in some sectors, affecting the budget and profitability of insurers.

The pandemic also changed the claims patterns, with fewer claims in areas such as theft and accidents during lockdowns and travel restrictions which resulted in Insurers worldwide having to adapt to changes in liquidity, capital, balance sheets, and scenario tests.

In some cases, Insurers responded by refunding premiums on motor policies and offering discounts on renewals. Moreover, new risks and disputes arose, especially regarding contract details.

Strategic Time Management and Empowered Leadership for Work-Life Harmony

Niraz practices strategic time management to allocate dedicated periods for work and personal well-being. He sets clear boundaries and priorities to avoid burnout and stay focused. He delegates effectively, empowering his team to handle specific tasks and responsibilities. This approach promotes a collaborative work environment and allows him to maintain balance by avoiding micromanagement.

Outside of work, Niraz engages in fulfilling activities, such as spending time with family, pursuing hobbies, or maintaining a healthy lifestyle. Regular breaks and relaxation enhance his well-being and leadership in the professional realm. Niraz Buhari recognizes that a harmonious work-life balance benefits his personal and professional success.

Guidance for Aspiring Leaders in the Insurance Industry

As an accomplished leader in the insurance industry, Niraz offers valuable advice for aspiring leaders. He emphasizes the importance of embracing innovation in a constantly transforming sector. Aspiring leaders should stay ahead of industry trends, adopt new technologies, and foster a culture of innovation.

Niraz also stresses the significance of a customer-centric approach. He believes that understanding and prioritizing customers’ needs is essential for success in the insurance business. Aspiring leaders should tailor solutions that provide value and satisfy customers for long-term relationships.

Moreover, Niraz advises aspiring leaders to develop a strong understanding of risk management. He says that navigating uncertainties requires adaptability, strategic planning, and a proactive approach to identifying and mitigating risks.

Furthermore, Niraz encourages leaders to cultivate a global perspective, given City & Commercial Insurance Group’s global presence. He says that understanding international markets, regulations, and cultures is vital for navigating a diverse and interconnected world.


“One of the biggest strengths across the group is our customers are at the center of our hearts.”


Also Read: The Top 10 Revolutionary CEOs of 2024

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