Much of what we recognise as insurance today has its origins in London and it's those origins that have helped London to develop into the predominant insurance hub - a position it has held for the last couple hundred years.

That dominant position, however, has been strained in recent years as innovation has emerged from more capital efficient hubs like Bermuda. Recently the London market is more widely known for its cost inefficiencies than its innovative capabilities.

However, a huge opportunity exists for London to once again become the market leader for product innovation: by taking the lead in enabling technology to re-define insurance.

There isn't a more concentrated source of industry expertise in the world and London has the potential to be the epicenter of insurance innovation.

Some of the signs so far are promising - London has accounted for more than 30% of InsurTech deals in Europe - but if London wants to be recognised as the undisputed leader here we need to build a culture not on sustaining the status-quo, but disrupting it.