The insurance industry is one of the oldest industries in the world with an estimated global market size of $10.00Tn by 2030. Looking at the history of insurance, many would say that the UK is regarded to be the birthplace of modern insurance, dating back to the 18th and 19th century. During that era the UK had the highest level of insurance density in Europe. Both commercial and personal insurance emerged as the building blocks of economic and social progress.