Wednesday, 30 May 2012

UK Commercial Insurance Distribution 2012


Commercial insurance is a highly competitive market and its distribution is evolving; primarily as a result of economic conditions on UK business and persistently soft market conditions. A tightening of resources, a focus on operational efficiency and concentration on core relationships have impacted on the shape of distribution while traditional broker dominance is challenged in the SME space.

Features and benefits
  • A discussion on current trends in the distribution landscape, including broker networks and e-trading, and their forecast future impact.
  • The latest data on SME purchasing behavior; analyzing preferences regarding service, product, channel and platform broken down by business size.
  • A view of the distribution strategies being pursued by the top 10 commercial insurers.
  • The shape and composition of the distribution landscape broken down by business size segments and a review of the channels most appropriate for these.

Report Details:
Published: May 2012
Price: Single User License – US$5250            Corporate User License – US$13125
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Highlights 

  • When asked how frequently contact with their broker was made, 55.2% of SMEs responded that this would occur only upon policy renewal. However, 44.8% of SMEs were in contact with their broker at least once per year beyond this; including 23.8% meeting with brokers more than twice per year.
  • For those brokers who did not belong to a network, the most cited main reason was "we are independent" with 27.6% of responses. 25.2% of brokers outside of networks did not know why they were not, while 18.9% did not regard them as beneficial.
  • The level of perceived threat from the range of alternative distribution channels varied depending on the size of the broker respondent. While large regional brokers were regarded as a key threat by all brokers, this was particularly pronounced 

Table of Contents

  • OVERVIEW
  • EXECUTIVE SUMMARY
  • THE COMMERCIAL INSURANCE LANDSCAPE
  • THE BROKER LANDSCAPE
  • E-TRADING
  • DIRECT, BANKING, AND OTHER CHANNELS
  • SME PURCHASING BEHAVIOR
  • TOP 10 INSURERS
  • FUTURE DECODED
  • APPENDIX

Browse reports related to Banking and Financial Services @http://www.reportsnreports.com/market-research/banking-services/

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