SME now and the future: Educating clients

Confusion over  IPT and Ogden

Telling customers that their premiums are going up can be difficult, especially if you’re trying to explain the intricacies of IPT or the Ogden rate, writes Edward Murray

When the SME commercial market is hardening, how far do you go to explain the macro-economic factors behind premium increases, and can such conversations lead to better client relationships and retention rates? 

Clients, particularly at the micro end of the SME market, can be cynical about rate increases. Why are insurers putting up premiums when they have a good claims history and is this just an ad hoc business decision to boost the bottom line? 

But there are a number of factors impacting

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

GIC completes Miller deal

Institutional investor GIC has completed the takeover of Miller, buying out previous co-investor private equity house Cinven.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: