New Financial Services research report from Datamonitor is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/18/2013 -- 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.
- Target prospects emerging from shifts in the shape of the SME market and changes in product penetration rates.
- Inform your distribution strategy with an understanding of SME purchasing behavior and preferences.
- Develop strategies for attacking opportunities arising from the key concerns and needs of SMEs.
- Understand approaches taken by other insurers and their resulting performance in terms of broker selection and SME choice.
View Full Report Details and Table of Contents
Director's and officers' liability insurance saw a marked increase in purchase rates between 2011 and 2012 according to Datamonitor research, as insurers and brokers push penetration.
A majority of SMEs continue to purchase insurance through a broker (50.5%); however, businesses are increasingly turning to direct channels (35.1%).
Aviva remained most popular with brokers placing packaged SME business in 2012, favored by 17.2% of respondents, while surveyed SMEs selected AXA as the overall provider of choice.
Reasons to Get this Report
- What insurance opportunities are emerging from the concerns of SMEs or growth in particular trade sectors?
- Which insurers are favored by SMEs in the purchase of, for example, public liability or directors' and officers' cover?
- How do SMEs approach the purchase of insurance and where in this journey can business be won?
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