At a glance
- With an annual 12% rise in SME GWP, SMEs are becoming an increasingly important segment to cater for
- In order to best serve SMEs, brokers must understand their individual and unique circumstances
- Working alongside Insurance Times we explore how brokers are becoming more effective and efficient in both their cover selection and cost base
The small and medium-sized enterprise (SME) sector is booming in the UK, with Federation of Small Business data showing an additional two million SMEs since the turn of the millennium.
This growth has developed a focus on the SME sector as an area of increasing importance. However, what is clear is that within the SME sector there is an incredibly diverse range of circumstances making it far harder to provide cover. Brokers therefore need to fully understand their clients and endeavor to be both effective and efficient in their cover choice.
“Each intermediary will approach this challenge differently: some focus on certain sectors and establish specialisms, whilst others target everything in between,”explains Paul Tombs, Head of SME at Zurich. ” Whatever the approach, insurers need to ensure that their SME proposition addresses this challenge”.
You can find out more about our SME products and services in our interactive guide. Alternatively, for more information on how we can help you better serve your SME customers, please login to ZTrade, discover us on Acturis or contact your local Zurich Account Executive.