1. 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.
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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

2. E-TRADING
DIRECT, BANKING, AND OTHER CHANNELS
SME PURCHASING BEHAVIOR
TOP 10 INSURERS
FUTURE DECODED
APPENDIX
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Report Details:
Published: May 2012
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