’This research is a fantastic opportunity for insurers and brokers to collaborate in understanding how we can best support SME customers,’ says head
Some of the UK’s biggest insurers and brokers have teamed up to launch a Consumer Duty survey among small and medium-sized (SME) policyholders.
Allianz, Aviva, Axa UK, RSA and Zurich, as well as brokers Brown and Brown, Gallagher, Howden, Jensten and PIB, are among firms involved in the move.
They aim to develop a sector wide understanding of outcomes and vulnerability and use the information from the survey to enhance customer stratgies.
David Nichols, head of retail at Zurich, said: ”This research is a fantastic opportunity for insurers and brokers to collaborate in understanding how we can best support SME customers that are facing vulnerabilities.
”I welcome the opportunity to analyse the findings and discuss them with our broker partners, ensuring that we continue to enhance the customer outcomes for our collective SME customers.”
Jon Walker, chief executive at Axa Commercial, added: “We are delighted to work closely with our broker partners to better understand the needs of customers, especially those whose circumstances make them vulnerable.
”Protecting what matters most to our customers is our key aim and anything that helps us to achieve this is a positive step.”
Development
The survey has been developed by FWD Research.
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“Insurers have the resources to conduct their own research, but do not have access to intermediated end-policyholders unless they are making a claim,” it said.
”Whereas brokers have access to the end-policyholder, but do not necessarily have the resource, especially smaller provincial brokers. FWD Research resolved both problems by bringing insurers and brokers together to conduct the research.”
Margaret Scott, director of business transformation and customer experience at Allianz, said ”the results will help us, and the whole industry, develop strategies to improve our customer outcomes”.
Tovah Grosscurth, commercial eTrade director at RSA, added:“This collaborative research will give us vital insights into SME customer outcomes and vulnerability across our sector, helping us better serve those customers through our broker partners.”
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