SME now and the future: Educating clients
Telling customers that their premiums are going up can be difficult, especially if you’re trying to explain the intricacies of IPT or the Ogden rate, writes Edward Murray
When the SME commercial market is hardening, how far do you go to explain the macro-economic factors behind premium increases, and can such conversations lead to better client relationships and retention rates?
Clients, particularly at the micro end of the SME market, can be cynical about rate increases. Why are insurers putting up premiums when they have a good claims history and is this just an ad hoc business decision to boost the bottom line?
But there are a number of factors impacting
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