“We’ve shown that insurance is capable of long-term meaningful change”

Eight years ago, a conversation between insurance professionals in a London bar sparked a movement that has now raised £10 million to support dementia research and care. That conversation led to the birth of Insurance United Against Dementia (IUAD), a campaign that has brought together over 150 companies across the insurance sector to fight one of the most devastating diseases of our time.

This month Chris Wallace, executive director, UK Insurance at QBE and one of the campaign’s founders, won the prestigious Insurance Personality of the Year Award at the Insurance Post Awards, in recognition of his campaigning. Here he reflects on the journey so far, the impact of IUAD, and what lies ahead as the campaign enters its third phase.

Q: Chris, congratulations on reaching the £10 million fundraising milestone. What does this achievement mean to you and the team?

Chris Wallace: It’s a phenomenal achievement, especially considering the challenges we faced along the way, including the pandemic. When Benedict Burke, Paul Jack and I first sat down to discuss IUAD, we saw it as a unique opportunity to unify the insurance industry around a common cause. The fact that we’ve reached this milestone shows just how much collective power the industry has when it comes together.

Q: The campaign is deeply personal for you. Could you tell us more about that?

Chris: Absolutely. I got involved because of my nan – she passed away from dementia. That personal connection made me an ambassador for the Alzheimer's Society, and through that, IUAD was born. What we found early on was that nearly everyone in the industry had a similar story. Dementia touches so many lives, and that shared experience has created a powerful sense of unity.

Q: Beyond fundraising, what impact has IUAD had so far?

Chris: That £10 million has contributed to some incredible outcomes. Investment from IUAD funded the initial projects and researchers within the UK Dementia Research Institute which opened in 2018 and also helped to support 120 research grants between 2017-2025 – driving future projects and talent in this field. We've also supported the Alzheimer’s Society's Dementia Support Line, which handles over 70,000 calls a year. Another major achievement is the 18,000 people in our industry who’ve completed the Dementia Friends workshops – spreading awareness and turning participants into advocates.

Q: Do you think IUAD has changed how the insurance industry is perceived in terms of social responsibility?

Chris: Without a doubt. Initially, we were told campaigns like this rarely last more than a year. But we’ve sustained ours for eight. That’s thanks to the strong networks and commitment across the industry. Insurance is fundamentally about helping people, and IUAD has shown that the industry can go beyond policies to drive real social change. It’s reshaped perceptions, showing we're capable of long-term, meaningful impact.

Q: The chair role has just changed hands. What’s next for IUAD?

Chris: Yes, I did four years, and Richard Dudley followed with another four. Now, Chris Lay, [UK CEO at Marsh McLennan] is taking the helm. He’s fantastic – he as a great network and deep industry knowledge. Under his leadership, we’re aiming for £20 million. We're also focusing on expanding IUAD’s reach into life, health and personal lines – beyond the commercial sector where we’ve already built strong foundations.

Q: What’s your message to Airmic members that haven’t yet engaged with IUAD?

Chris: Look within your organisations. Dementia affects everyone, yet it’s not often talked about. Promote IUAD’s work, share the support available, and join us in raising awareness. One key initiative is Insurance Day for Dementia, which will be held this year on 27 November. Last year, around 70 companies took part and we raised nearly half a million pounds. It’s a fun, team-driven day that really makes a difference. It’s a good starting point to get involved.

Q: You’ve just won the Insurance Personality of the Year at Insurance Post’s annual awards. How does that recognition feel?

Chris: It’s always an honour to get personal recognition – especially when you see the names that have won before. But honestly, it’s not about me. It’s about the team, the campaign and what the industry has achieved together. That’s what I’m most proud of.

Q: Finally, any closing thoughts?

Chris: The most powerful part of IUAD for me is knowing we’ve opened doors to support that many didn’t know existed. I was in a taxi recently, chatting with the driver whose mother had dementia. I was able to give him direct access to local support resources. That’s the kind of real-world difference we’re making – and that’s why we’ll keep pushing forward.