A survey of 2,000 SMEs by analysts GlobalData has found that 14.6% of the SME market buys insurance via aggregators, an increase on 9.6% in 2017.
The researchers suggested that smaller companies face time constraints and seek less complicated policies, which explained the rise in online insurance and price comparison sites.
Ben Carey-Evans, financial analyst at GlobalData stated: “A lot of the policies aimed at sole traders and micro SMEs are very similar to personal lines products, such as
- Three insurance firms on FSCS insolvency list
- Aspen Risk Management to be placed in runoff
- Aston Lark on cusp of £320m Goldman Sachs investment
- Biba will return to Manchester in 2020
- Esure hires former Aviva UKGI boss David McMillan as CEO
- Aston Lark confirms Goldman Sachs investment deal
- FCA warns of clone MGA