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Polaris Standards: Industry Involvement, Industry Movement

17 July 2025

The insurance industry is constantly evolving, shaped by changes in society, regulation, customer expectations and technology. To keep up, insurers, brokers and software providers must be able to adapt quickly, especially when it comes to how products are built and traded digitally.

This is where industry-wide collaboration and our Polaris Standards play a crucial role. By working together and agreeing on common ways to define data, processes and messaging, the industry ensures consistency, efficiency and fairness in how insurance is delivered across the market.

What Do These Occupations Have in Common?

  • Carphone fitter
  • Telex operator
  • Pools collector
  • Ostler

    • All these once-common occupations have faded into history.

    Meanwhile, new roles have been introduced in recent years like:

  • Baristas
  • Data Scientists
  • Professional Gamers

    • As occupations change, so must the way insurers classify and assess them. This is where insurance industry standards provide structure and consistency, ensuring that occupations are recognised and evaluated across the sector.

    Why is Occupation relevant?

    Occupation is one of many factors insurers use to assess risk. It plays an important role in determining whether to offer cover, what premium to apply and what terms and conditions to set.

    For example:

  • A delivery driver who spends long hours on the road may be considered higher risk than someone who only drives occasionally.
  • Someone who works from home full-time may require different cover for business equipment compared to someone who is away during the day.

    • Other Risk Factors

    However, occupation is only one part of the picture. For home insurance, insurers may assess building materials and flood risk. For car insurance, they look at vehicle modifications, driving history and previous claims.

    This is where our Polaris Standards come in. A set of descriptions of risk factors (“code lists”) are compiled based on industry input and reviewed and updated where necessary based on changes in practice, the law and regulation.

    What Polaris Insurance Industry Standards Includes

    Polaris manages more than 350 insurance code lists used throughout the UK insurance industry, covering over 35,000 data values. These include data for both personal and commercial insurance, such as occupations, property types, vehicle details and more.

    Polaris also develops and maintains:

  • Standards for how data is exchanged across the industry.
  • Processes that support product trading and system integration.

    • By maintaining these frameworks, Polaris helps to achieve consistent and efficient communication across insurers, brokers and other stakeholders.

    Why do our industry standards matter?

    Using a shared set of standards brings key advantages to the insurance sector:

  • It eliminates the need for every insurer to create their own definitions and processes.
  • It supports regulatory compliance and reduces risk.
  • It helps ensure fair treatment of customers.
  • It improves data quality and integration across digital systems.

    • ETPGs: Where Industry Involvement meets Industry Movement

    Polaris facilitates regular industry forums called the ETPG’s (Electronic Trading Practices Groups) where representatives across the industry discuss necessary updates or improvements to these standards. When reviewing changes, we consider whether the proposal:

  • Is already represented in current standards
  • Is clear and fair to customers
  • Meets legal and regulatory requirements
  • Involves information that a customer can reasonably be expected to know
  • Could be more appropriately sourced from other data sources such as enrichment services

    • The ETPG’s are a key example of how industry involvement can drive industry movement. These forums bring together representatives from insurers, brokers, software houses, and key industry bodies to review proposed changes and ensure standards remain fit for purpose.

    They offer valuable insight into regulatory trends, market challenges and customer expectations, helping to align standards with broader industry goals. By fostering open collaboration, the ETPGs ensure that updates are widely supported across the insurance market.

    Want to be apart of the change? Contact our Standards team at [email protected] or [email protected] for details on how you can join the Personal Lines ETPG or Commercial Lines ETPG.

    Adapting to a Changing World

    As society and the workforce evolve, so do the risks people face, and the products insurers offer. We continue to adapt by developing new Polaris Standard that reflect current trends.

    This ongoing evolution ensures that insurance industry Standards stay relevant and aligned with both customer needs and industry regulations.

    For more information about our Standards, click here.

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