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UK SME Insurance Market Report- Technology, Trends and Competitor Dynamics | Hiscox, Simply Business

09-16-2021 10:46 AM CET | Industry, Real Estate & Construction

Press release from: ReportsnReports

The UK SME Insurance Market research report segment the market comprehensively and provides the closest approximation of the market size for all subsegments across various regions. The UK SME Insurance Market research report offers data on key drivers, challenges, drivers, and opportunities for market growth. UK SME Insurance Market also provides data about the competitive landscape section that includes product launches, expansions, collaboration, competitor ecosystem, and deals of the key players.

Get a FREE PDF Sample Copy of the Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=4430784

Top Companies Mentioned in this Report-
AXA
Aviva
Zurich
Bupa
AA
NFU Mutual
Barclays
Lloyds Bank
Hiscox
Simply Business
Admiral
Direct Line
RSA Insurance
Swinton
LV=

AXA and Aviva remain the market leaders for UK SME insurance, but the fall in the latter’s percent of respondents has widened AXA’s advantage. However, Aviva differentiates itself by selling a greater number of contracts through brokers. This division is significant, as brokers accounted for almost half of the purchasing channel for SME insurance in 2020. In third place, Zurich stands out by having higher net promoter scores than those of the largest two providers, demonstrating an ability to deliver high customer satisfaction levels. In fourth place, Barclays continues to have a strong market presence for SME insurance, capitalizing on its customer relations for business banking. While the UK SME insurance market is dominated by AXA and Aviva, outlier insurers such as Allianz, Hiscox, AA, and Admiral continue to strengthen their market presence through product specialization.

UK SME Insurance Market Report identifies which insurers lead the way in the SME segment and examines how they are developing their propositions, while also highlighting how competitor positions vary between micro, small, and medium enterprises. It reveals which insurers are winning over brokers and with which companies SMEs are placing their business.

Scope of this Report-
- At 7.8% share, AXA’s market position remains unchanged from 2019.
- Aviva’s share fell from 7.6% in 2019 to 6.9% in 2020, yet brokers are more likely to sell both packaged and non-packaged SME insurance from this provider.
- Barclays sells the most insurance contracts to SMEs with a 20.0% market share of the banking channel.

Reasons to Buy this Report-
- Identify trends that are driving changes in the SME insurance market.
- Assess the financial performance of competitors.
- Identify efficient distribution strategies that complement and support customer purchasing behavior.

Discount on this Full Report @ https://www.reportsnreports.com/purchase.aspx?name=4430784

Table of Contents in this Report-
1. Executive Summary
1.1 AXA leads the market for SME insurance
1.2 Key findings
1.3 Critical success factors
2. UK SME landscape
2.1 AXA and Aviva remain the market leaders for UK SME insurance in 2020
2.2 Brokers are integral to the distribution of commercial insurance
2.3 Barclays leads bancassurance
2.4 Influence of PCWs in the UK SME insurance market
2.5 The strengths of the three leading providers
2.6 Insurers can challenge the SME competitive landscape through product specialization
3. SMEs are keen on receiving business strategy advice from an insurer
3.1 Medium-size businesses have the highest uptake of value-added services
4. Top insurers by net promoter score
4.1 Aviva’s NPS lags behind in two of the four main commercial products
5. Supplemental data: Top five insurers by product lines
6. Appendix
6.1 Abbreviations and acronyms
6.2 Definitions
6.3 Methodology
6.4 Secondary sources
6.5 Further reading
and more...

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