Brokers need to demonstrate value to SMEs

The British Insurance Brokers' Association (Biba) has urged brokers to do more to explain their services and demonstrate the value they provide to small and medium-sized enterprises (SME) after new research revealed confusion among small businesses about what constitutes advice and where they should obtain it.

The research found that SMEs that did not use brokers were confused about whether providers had searched the market and provided them with advice or information. It also established that

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