New Financial Services market report from Datamonitor: "UK SME Insurance 2012: Distribution Dynamics"
Boston, MA -- (SBWIRE) -- 02/13/2013 -- The incredibly competitive SME market is still evolving as insurers master fast-flow distribution strategies for commercial products. Considered positioning of SME propositions are vital when difficult current economic conditions and a mature market mean insurer ambitions to achieve marked growth will likely come at the cost of rivals' business.
- Inform your distribution strategy with an understanding of SME purchasing behavior and preferences.
- Develop strategies for attacking opportunities arising from the key purchasing motivations and service needs of SMEs.
A majority of SMEs continue to purchase insurance through a broker (50.5%); however, businesses are increasingly turning to direct channels (35.1%).
SMEs approach the start of the purchasing journey in different ways, with a split between those researching online first and those phoning the provider as a first and, often, final step.
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Only 22.0% of SMEs purchase insurance online, with arrangement over the phone still being the most popular method.
Reasons to Get this Report
- Where in the SME purchasing journey can I maximize the opportunity to win business?
- What distribution channels should I consider to best approach a given SME segment?
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