[March 01, 2013]

Research and Markets: UK SME Insurance 2012: Competitive Dynamics

Research and Markets (http://www.researchandmarkets.com/research/2pxsxp/uk_sme_insurance) has announced the addition of the "UK SME Insurance 2012: Competitive Dynamics" report to their offering.

The incredibly competitive SME market is still evolving as insurers master fast-flow distribution strategies for commercial products. Considered positioning of SME propositions are vital when difficult current economic conditions and a mature market mean insurer ambitions to achieve marked growth will likely come at the cost of rivals' business.

Highlights

- Insurers including Aviva and Zurich remain dedicated to the broker channel, while others such as AXA and Allianz offer insurance directly. The development of e-trading propositions has been a common goal.

- Aviva remaine most popular with brokers placing packaged SME business in 2012, favored by 17.2% of respondents. Allianz and NIG followed with 9.0% share of responses each.

- 14.4% of surveyed SMEs, across 13 lines of commercial insurance, chose to purchase cover with AXA in 2012, making it the most popular provider ahead of Aviva.

COMPETITOR DYNAMICS

- Brokers name Aviva the leading insurer for SME business- 17.2% of brokers place most packaged SME business with Aviva

- Direct Line for Business dominates the business insurance market's advertising spend- Direct Line for Business accounted for 78% of business insurance advertising in H1 2012

- AXA toppled Aviva as the most selected provider by SMEs

- A dip of 5.3 percentage points in SME selection for Aviva saw the insurer drop to second place in the market in 2012

- Aviva's SME book has contracted in 2012 but its Fast Trade intranet platform is most popular with brokers

- AXA launched its Simple e-traded product range and a direct channel offering in 2012

- Zurich has focused on attracting small brokers

- Allianz's distribution strategy includes its QuoteSME e-trading platform and a direct online brand

- Hiscox launched a new e-risks product in 2012

- RSA (News - Alert) narrowed its broker relationships to focus resources on core relationships

Companies Mentioned

- AXA

- British Sky Broadcasting Group plc

- Bupa

- Business Integration Services Ltd.

- Hutchison 3G (News - Alert) UK Limited

- National Westminster Bank Plc

- RSA Insurance Group plc

- Schindler Holding Ltd.

For more information visit http://www.researchandmarkets.com/research/2pxsxp/uk_sme_insurance

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