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Distribution in UK Commercial General Insurance 2008
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Distribution in UK Commercial General Insurance 2008
Financial Services
- Product Code:DAT14072
- Publication Date:February 2009
- Publisher:Datamonitor
- Product Type: Report
- Pages:18
Distribution in UK Commercial General Insurance 2008 Financial Services
Introduction
Scope
Highlights
Reasons to Purchase
- Catalyst
- Summary
- Analysis
- Large National Brokers Continue To Dominate Commercial Insurance Distribution
- Independent Insurance Intermediaries Of All Types Retain Their Leading Market Share In 2008
- Direct Players Account For A Small But Growing Portion Of The Commercial General Insurance Market
- Corporate Partnerships Have Maintained Only A Small Presence In The Commercial Insurance Market
- Banks And Building Societies Distribute Negligible Amounts Of Commercial General Insurance
- The Broker Channel Continues To Dominate The Sme Market With Retention Levels Remaining High
- Brokers Remained The Dominant Distribution Channel To Target Smes In 2008
- The Internet Is The Least Common Platform For Smes Purchasing Commercial Insurance
- The Majority Of Smes Remain Satisfied With Their Insurance Provider
- Long Standing Relationships Are Important To Smes Purchasing Commercial Insurance
- Smes Purchasing Their Insurance Through A Bank Or A Broker Value Advice From Their Insurance Providers The Most
- Price Is Important To Many Smes Choosing An Insurance Provider
- A Significant Proportion Of Smes Are Open To Purchasing Their Insurance Via The Internet Or Phone
- The Convenience Factor Of The Phone Is Appealing To Many Smes Considering A Telephone Purchase
- Many Smes Are Unwilling To Purchase Their Insurance Over Telephone
- Over A Third Of Smes Would Consider A Purchase Online
- Employers' Liability And Public Liability Were The Most Likely Products To Buy Via Alternative Platforms
- Appendix
- Definitions
- Premium Income Measures
- Gross Premium
- Written Premiums
- Distribution Definitions
- Banks/Building Societies
- Brokers
- Company Staff
- Direct
- 'Other' Company Agents
- Utilities/Retailers/Affinity Groups
- Methodology
- Datamonitor's Sme Insurance Survey
- Further Reading
- Ask The Analyst
- Datamonitor Consulting
- Disclaimer
- List Of Tables
- Table 1: Market Share Of Distribution Channels In The Commercial General Insurance Market, 2004-08e
- Table 2: Q: "how Important Is It To Receive Advice On An Ongoing Basis From Your Insurance Provider?"
- Table 3: Q: "what Business Sector Are You Involved In?"
- Table 4: Q: "how Large Is Your Company In Terms Of Number Of Employees?"
- Table 5: Q: "how Large Is Your Company In Terms Of Turnover?"
- List Of Figures
- Figure 1: Brokers Are The Dominant Route To Market For Commercial Insurers In The Uk
- Figure 2: Most Smes Purchase Their Commercial Insurance Through The Broker Channel
- Figure 3: Most Smes Purchase Their Insurance Through Face To Face Contact With Their Insurance Provider
- Figure 4: Most Smes Are Satisfied With The Service They Have Received From Their Insurance Providers
- Figure 5: A Large Proportion Of Smes Have Been With Their Insurance Provider For More Than 10 Years
- Figure 6: Receiving Ongoing Advice From Their Insurance Provider Is Important To Most Smes
- Figure 7: Many Smes Consider The Price Of An Insurance Premium To Be An Important Factor When Choosing A Commercial Insurance Provider
- Figure 8: The Convenience Factor Appeals To Many Smes Prepared To Purchase Insurance Over The Phone
- Figure 9: A Significant Proportion Of Smes Would Not Consider A Telephone Purchase Because They Simply Prefer Face To Face
- Figure 10: A Significant Proportion Of Smes Would Consider A Purchase Online In A Bid To Save Money
- Figure 11: Smes Show A Greater Inclination To Purchase Employers' Liability And Public Liability Via The Telephone And Internet