SME business owners
A major insurer had identified the SME sector as a growth area and needed to update its target operating model to maximise the multi-channel distribution opportunities afforded by the sector, which accounts for over 95% of all UK businesses by volume. It needed to canvass the views of both distributors i.e. brokers and the end users direct, i.e. business owners to understand their requirements, preferences and attitudes towards different distribution models going forward.
An initial qualitative investigation of 36 depth interviews was conducted to understand the needs of distributors and how engaged they are with different IT solutions for obtaining quotes, followed by a series of questions on Broking Now! to quantify the future direction of the market. Subsequently a series of viewed focus groups held in studios were conducted nationwide with SME business owners from certain segments in which various propositions were tested and their perceptions of today’s insurers sought.
The insights were presented back at a series of workshops using vox pops as part of the presentation to engage the audience.
Tremendous energy and buy in of the client’s team members was achieved throughout the project which will help the client channel the insights into producing a top class range of offerings for this critical audience that is likely to be the one to lead the UK out of recession.