UK SME Insurance Market 2019 Competitor Dynamics by AXA, Aviva, Allianz, Direct Line, Zurich, Hiscox, RSA, NFU Mutual, Lloyds, LV=, AA, Ageas, AIG, ACE, Barclays, Bupa

The Exhaustive Study for “UK SME Insurance Market” Research Report is added on Orbisresearch.com database. The report provides statistics and information on market size, shares and growth factors. It also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the SME Insurance Industry. Additionally, the report also highlights market entry strategies for various companies across the globe.

This report looks at which insurers lead the way in the SME segment and how they are developing their propositions. It also highlights how competitor positions vary between micro, small, and medium enterprises. It examines which insurers are winning over brokers and which companies SMEs are placing their business with.

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AXA and Aviva dominate the UK SME insurance space across all of the 10 non-vehicle-based commercial products listed in our 2018 UK SME Insurance Survey. However, the pair have slipped within the six motor lines, with Admiral and AA in particular establishing a strong presence at the top of these markets. Meanwhile Allianz recorded a strong performance in the liabilities lines but little impact in the vehicle-based lines. Hiscox and Zurich are liability specialists, although they have both seen their shares decline since 2017. Within the motor lines there is a clear trend of popular personal lines insurers also enjoying success in the SME market. This shows that established relationships are essential and easily transferred from personal to commercial lines.

Scope:
- AXA’s domination has declined slightly in terms of individual lines, but it still heads seven products.
- Third-placed Allianz remains over 5 percentage points behind Aviva, which highlights that the top two are still way ahead of other brands despite their declines. But this is offset by Allianz underwriting the products of Barclays, which is the fourth-largest player.
- AXA’s position in the overall market is not replicated in brokers’ preference for business placement, where Allianz and Aviva continue to top packaged and non-packaged respectively.

Key Players:
• AXA
• Aviva
• Allianz
• Direct Line
• Zurich
• Hiscox
• RSA
• NFU Mutual
• Lloyds
• LV=
• AA
• Ageas
• AIG
• ACE
• Barclays
• Bupa

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Key Points from TOC:
1. EXECUTIVE SUMMARY 2
1.1. AXA and Aviva continue to lead the market 2
1.2. Key findings 2
1.3. Critical success factors 2
2. THE SHAPE OF THE SME MARKET 8
2.1. Introduction 8
2.2. The big three continue to lead the way for packaged broker insurance 8
2.3. Aviva leads non-packaged as the top two pull away 10
3. PRODUCT POSITIONING 12
3.1. AXA remains the leading insurer, but competitors have closed the gap 12
3.2. AXA’s decline saw Aviva challenge for top spot despite its static share 13
3.3. Barclays leads the bancassurance re-emergence 14
3.4. AXA and Aviva are consistent throughout all 16 lines 15
3.5. Hiscox remains a specialist liabilities insurer 16
3.6. Admiral and Direct Line are strong in motor 16
4. TOP FIVE INSURERS BY PRODUCT LINES 18
4.1. Top five players for business interruption insurance 18
4.2. Top five players in directors and officers insurance 19
4.3. Top five players in employers’ liability insurance 20
4.4. Top five players for key man insurance 21
4.5. Top five players for personal accident and business travel insurance 22
4.6. Top five players for property insurance 23
4.7. Top five players for professional indemnity insurance 24
4.8. Top five players for public liability insurance 25
4.9. Top five players for private medical insurance 26
4.10. Top five players for cyber insurance 27
4.11. Top five players for company cars (single) insurance 28
4.12. Top five players for company cars (fleet) insurance 29
4.13. Top five players for company vans (single) insurance 30
4.14. Top five players for company vans (fleet) insurance 31
4.15. Top five players for vehicle: other (single) insurance 32
4.16. Top five players for vehicle: other (fleet) insurance 33
5. KEY PLAYERS 34
5.1. AXA formed partnerships to boost broker offerings 34
5.2. AXA is focusing on Brexit and modern cyber cover 34
5.3. Aviva is targeting independent brokers with new community launch 34
5.4. Zurich is aiming to boost its SME business with new appointment 35
5.5. Hiscox launched a cyber campaign to raise customer awareness 35
5.6. Cyber specialists could threaten mainstream insurers 36
5.7. Digital Risks shows innovation can thrive in the SME sector 37
6. TOP INSURERS BY NET PROMOTOR SCORE 38
6.1. Aviva’s impressive NPS could help it challenge AXA at the top of the market 38
6.2. The leading insurers saw strong improvements in NPS in 2018 41
7. APPENDIX 42

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