E-trading in the SME sector is now available for a wide range of products, but the medium still has yet to reach its full potential

While falling revenues may threaten to undermine confidence in the SME insurance sector, the investment being made to ensure transactions are swift and cost-effective is starting to pay off. There has been a sea change in the way SME business is transacted on micro and package products, and e-trading is now also available for a wide range of traditional SME covers and products.

So are brokers taking advantage of this? In a recent survey we found that almost 30% are placing more than half of their commercial business online. This is encouraging but there is still some way to go before commercial e-trading is maximising its full potential - allowing brokers a much greater level of empowerment and autonomy.

The winners will be those that grasp the emerging opportunities and use them to competitive advantage.

Malcolm Smith is commercial lines director at Groupama Insurances