.png?width=2000&height=731&name=Serving%20the%20insurance%20needs%20of%20the%20dynamic%20SME%20market%20(1).png "Serving the insurance needs of the dynamic SME market (1)")
DOWNLOAD YOUR FREE COPY NOW
Serving the insurance needs of the dynamic SME market
The UK’s SME market, made up of over 5.5 million businesses, is the backbone of the private sector, contributing three-fifths of employment and nearly half of turnover. Despite the scale of opportunity, insurance providers face the challenge of addressing diverse and often complex insurance needs that rarely fit standard cover options.
Underinsurance remains a persistent issue, as some SME owners may underestimate important factors like indemnity periods or rebuilding costs, exposing them to financial risks. Many make price-driven decisions, believing they understand their needs but lacking full awareness of the risks associated with their specific sectors.
Topics covered include:
- Complex Insurance Needs: SMEs have diverse insurance requirements that often do not align with standard offerings, leading owners to seek tailored advice and cover.
- Advising SMEs: There is a significant opportunity for insurance providers and brokers to explain and educate SMEs about insurance options, which can help build trust and strong relationships.
- Data-Driven Solutions: Leveraging data can enhance the customer experience by enabling providers to offer personalised cover and insights into specific risks, fostering long-term relationships and market growth.