Changing attitudes towards broker expertise
Those who know insurance well understand how intricate it can be. But the research has found that SMEs don’t necessarily feel the same way. This means the brokers need to educate SMEs on the complex nature of insurance tasks – and the potential repercussions of not doing them correctly.
Key Insights
- SMEs claim to find most insurance tasks relatively easy, even more complex tasks such as evaluating the insurance needs of their business.
- The number of SMEs who value – and work with – brokers because of their expertise is declining.
As a result, this year, for the first time, SMEs were asked how easy they find a range of insurance tasks, from administrative details to deciding the right insurance cover for their business. The data shows that most SMEs are relatively comfortable with the majority of insurance tasks. Unsurprisingly, a large majority (78%) find administrative tasks such as contacting their insurer or changing their details relatively easy.
Discover the full findings for 2019 and what they mean for brokers by downloading the report now
