Extending your expertise

Many of the changes that the insurance industry has seen in the personal lines sector are now being played out in the SME commercial market and are forcing brokers to reappraise the way they win new business and look after existing clients. One of the most interesting facets of this changing market...

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Bibliographic Details
Published inInsurance Brokers' Monthly Vol. 60; no. 7; p. 26
Main Author Bow, Steve
Format Trade Publication Article
LanguageEnglish
Published Lye Insurance Publishing & Printing Company 01.09.2010
Subjects
Brokers
Cost reduction
Insurance agents & brokers
Internet
Niche marketing
Websites
United Kingdom > UK
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Summary:Many of the changes that the insurance industry has seen in the personal lines sector are now being played out in the SME commercial market and are forcing brokers to reappraise the way they win new business and look after existing clients. One of the most interesting facets of this changing market has been watching the success with which brokers have adapted to the changing landscape. Some have sought to take on the new wave direct writers at their own game and use the Internet to deliver fast, efficient and low cost services to clients. Others have taken a slightly different approach and instead looked to differentiate themselves by moving into niche areas. However, there is no reason why brokers operating in niche markets should eschew using the Internet to its full potential. Taking the time to assess specialist scheme business and move it to an electronic footing will ultimately deliver significant savings in administering the business.
ISSN:1472-2275