Changes in SME behaviour and insurance sentiments

By  Vero Insurance

Increased broker proactivity is driving more positive sentiment. In a time in which constant change is the norm, the SME Index’s top line measure of broker usage has remained relatively stable.

This year, 35% of SMEs said they purchased their most recent insurance policy through a broker, a figure that has stayed stable since 2017.  

Key Insights

  • Broker usage rates for last insurance purchase are stable at 35%.
  • More SMEs report being satisfied with their broker this year.
  • Evidence that an increasing number of brokers are delivering proactive services (advice and guidance).
  • Growth in broker consideration with almost half of direct buyers considering a broker.

This year, there has been an increase in the numbers of SMEs who get all or most of their insurance through a broker, from 16% to 27% which is very promising in the current economic environment.

Download the report to see the full findings for 2020 and what they mean for brokers.

Source: The SME Insurance Index report research was conducted by BrandMatters.


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