|
(MoneyNewsWire.Net, April 08, 2016 ) UK Commercial Insurance Distribution 2016; An industry where adapting to the market is key Size and Share Published in 2016-03-31 Available for US$ 5250 at Researchmoz.us
Description
Commercial insurance has become a highly competitive market, and the distribution of its products is evolving. Brokers continue to hold the highest share of the commercial market, despite growth in other channels. The small and medium-sized enterprise (SME) market has been driving this change. SMEs that require less comprehensive insurance products have been moving away from the added-value advice service from brokers, instead shifting towards self-service, online purchasing platforms.
The broker landscape continues to be dominated by the top few global companies and a multitude of smaller firms. Consolidation of the broker market is set to continue; however, the rate of acquisitions has significantly slowed after the major consolidation and growth rush of the late 2000s. Brokers are now looking to use their existing products and sectors of expertise to grow, meanwhile focusing on developing their online propositions to enable them to regain share previously lost by the SME market.
The Insurance Act 2015, which comes into force in August 2016 will make significant changes to commercial contract law. It will make contracts more certain and passes the responsibility of compliance to insurers. It will promote better communication and co-operation between all parties involved in arranging commercial contracts, ultimately giving underwriters a better understanding of the practices and the subsequent risks of those being insured.
Download Sample of this Report at: http://www.researchmoz.us/enquiry.php?type=S&repid=690157
Key Findings
Brokers continue to dominate the distribution of commercial insurance, with a 78.2% share of the market.
Provincial brokers are less concerned about growing their online propositions.
Banks have the potential to cross-sell insurance with their existing business services.
Micro-sized enterprises are driving the growth of price comparison sites.
Synopsis
Verdict Financial’s “UK Commercial Insurance Distribution 2016” report provides an in-depth study into the trends of commercial insurance distribution. It discusses the influence of the differing purchasing behaviours of SMEs compared to larger corporate businesses, and pays particular attention to the role and strategies of brokers within product distribution. It addresses the challenges the market is facing, and key changes in regulation, before concluding with a five-year forecast for each distribution channel.
Reasons To Buy
Adapt your distribution strategy to ensure it still meets the needs of clients and intermediaries. Ensure you remain competitive as new innovations revolutionize the purchasing journey for clients and brokers.
Benchmark your firm against other players in the market.
Be prepared for how regulation will impact the commercial market over the next few years.
Make an Enquiry: http://www.researchmoz.us/enquiry.php?type=E&repid=690157
Table of Content
EXECUTIVE SUMMARY
Brokers remain dominant in a market shifting towards online purchasing
Key findings
Critical success factors
COMMERCIAL INSURANCE: THE DISTRIBUTION CHANNELS
Introduction
Brokers remain dominant despite growth in other channels
The complexity of commercial insurance sustains the dominance of the broker channel
Brokers are becoming less significant in the distribution of uncomplicated products
The distribution of SME insurance is moving away from brokers
SMEs are purchasing commoditized commercial products online
The direct channel is competitive against brokers within the SME market
Micro enterprises are driving the growth of price comparison sites, whereas small and medium enterprises are driving the growth of the banking channel
Commercial insurance distribution and the direct channel
Insurers are growing their direct channels
Browse All Banking Market Research Reports at: http://www.researchmoz.us/banking-market-reports-159.html
About ResearchMoz
ResearchMoz is the world’s fastest growing collection of market research reports worldwide. Our database is composed of current market studies from over 100 featured publishers worldwide. Our market research databases integrate statistics with analysis from global, regional, country and company perspectives.
Contact Us:
ResearchMoz
Mr. Nachiket Ghumare, +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
sales@researchmoz.us <||>rnhttp://www.researchmoz.us/
For More Report Click Here @ http://www.prweb.com/search.aspx?search-releases=researchmoz&hitsPerPage=20
Researchmoz Global Pvt.Ltd
Researchmoz
+1-518-621-2074
sales@researchmoz.us
Source: EmailWire.Com 
|
