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
- Legal Protection Group confirms loss of Inter Hannover capacity
- Towergate’s Andy Parkin resurfaces at Gauntlet
- Laurent Matras takes interim Axa retail MD role as Gareth Howell departs
- Profits up at Allianz in 2018
- Market moves: Across the board
- Regional review: Cardiff
- Up to 275 jobs at risk at Axa XL in the UK