Brokers must meet challenge of banks and direct market says Defaqto

Defaqto state that in SME commercial insurance the broker is still king, but that they faced a major challenge to their dominance of this market from bancassurers and direct writers.

Although in the commercial SME lines market, most businesses buy insurance through a broker, direct writers and bancassurers now have their eyes firmly fixed on this market, a move that is not unwelcome by customers.

Mike Powell, principal consultant for general insurance, commented: "Brokers have been the main source

To continue reading...

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: