Electronic dreams
Technology is set to revolutionise the way commercial business is transacted, particularly within the small to medium enterprise market. James Gamble outlines the opportunities for brokers as software houses, insurers and imarket work together towards cost effective electronic trading
Commercial lines insurance is big business according to the analysts.
In 2002, the market was worth some £19.2bn - more than half of the UK's gross written premium. And in 2008 it is forecasted to reach £27.6bn, growing at a greater rate than personal lines, which is predicted to increase to £20.7bn.
In terms of how that business is transacted, brokers continue to play a dominant role. In 2002, 85% of UK commercial lines insurance was transacted by brokers - a figure projected to rise to 88% in
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