Introduction:
The report aggregates findings from Datamonitor’s unique survey of over 150 SMEs to provide and overview of the UK commercial insurance market. It provides data on SMEs’ attitudes towards and needs from commercial insurance providers.
Scope:
* Provides an in-depth examination of SMEs’ attitudes towards and needs from commercial insurance providers.
* Includes survey findings from three Datamonitor surveys of over 150 SMEs.
* Covers responses of general commercial insurance, commercial liability and commercial property policyholders.
* Findings enhance the understanding of the requirements of SMEs within the insurance marketplace enabling you to effectively market your offerings.
Report Highlights:
The survey findings indicate that the vast majority of SMEs take out their commercial policies through an insurance broker. More than a quarter of those surveyed have changed their commercial insurance provider within the last two years.
One fifth of the SMEs surveyed said they are considering changing their insurance provider within the next 12 months. Liability policyholders appear to be the most stable customer segment, although for all SMEs price concerns would trigger any change.
Although price was cited as the major driver for SMEs in terms of selecting a provider or switching from an existing one, insurers would be best served by improving standards of customer service in the current economic climate.
Reasons to Purchase:
* Datamonitor’s B2B surveys of SME customers will allow you to target this competitive market segment more effectively
* Detailed insight into SMEs’ habits and requirements allows for a keener understanding of how insurance products can be tailored to meet their needs
* Understand how, in current market conditions, insurers can mitigate the effect of premium rate rises on SMEs' satisfaction and improve retention rates
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