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Insurance Business | 19 Mar 2013, 12:00 AM Agree 0
Female business owners and the next generation of SMEs are increasingly buying insurance online – bypassing the broker, according to new research, but it’s not too late for brokers to claw back that business.
  • Paul Murphy | 19 Mar 2013, 12:57 PM Agree 0
    Having read the full Vero report it does appear heavily weighted toward micro and the lower end of the SME market.This market and particularly younger business owners often don't know or fully appreciate the risks they face. It often takes an uninsured event to jolt them out of complacency. The first contact with these types is a call from a solicitor or accountant asking if we can provide advice or help to their do it yourself client. However once won over SME owners can be the most loyal and long term clients. It is a challenge to reach new tech savvy smart young entrepreneurs. Whether offering on-line platforms and competing with direct insurers is the answer, I remain doubtful. What drives SMEs to your bigger, brighter website. Having seen some broker offerings conducted this way, much is left to the client as the costs of transaction usually means limited, tailored or no advice.Paul
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