Some insurers deliberately holding back, SSP chief exec believes

SME e-trading will become standardised despite the efforts of some established insurers to delay the process, according to SSP chief executive Laurence Walker.

“A lot of the larger carriers are holding back on the issue of commoditisation and comparative quotes in the micro SME space, because they think it is going to go the same way as motor,” he said in an interview with Insurance Times.

“The average micro SME policy is £300. Well, £300 is cheaper than motor. So commoditise it, e-trade it, understand how it works in that channel and what consumers want,” he explained.

Click here to read the full interview with SSP’s Laurence Walker and Stephen Lathrope.

 

 

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