A report into the UK SME market has revealed that direct insurers are in a strong position
The report, ‘Targeting SMEs in UK General Insurance 2005', by the Dublin-based Research and Markets said the direct insurance channel “has the potential to increase its market share".
The survey found that "over 60% of respondents said that they would consider buying commercial insurance direct".
Banks and building societies also have the potential to grow their share of distribution, it said.
More than three out of every 10 SMEs said they would consider buying via this channel, the report said.
It also highlighted the “fierce competition” between AXA and Norwich Union.
