|[March 01, 2013]
Research and Markets: UK SME Insurance 2012: Competitive Dynamics
DUBLIN --(Business Wire)--
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
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'
- 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.
- 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
- British Sky Broadcasting Group plc
- 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
[ Back To Technology News's Homepage ]