BLOG | Are insurers effectively engaging with SMEs?
The SME market represents a major area of growth for insurers but Sara Costantini, Managing Director of CRIF Decision Solutions, asks what providers are doing to capitalise on this opportunity?
In November 2018 Global Data predicted that the small and medium-sized enterprise insurance market would be worth £8.3bn in 2020 and if insurers want to retain and expand their market share in this sector, now, more than ever, they need to be effectively engaging with SMEs. CRIF conducted a survey into SME insurance with Post in July. More than 64% of insurer respondents agreed that the SME market represented a major opportunity for their business.
So, what is being done to capitalise on this opportunity?