Tie up the loose ends
Tony Martin, ceo of Bluesure, believes that in the future packaged insurance will probably become the norm in the UK. But in the meantime there are some misunderstandings that definitely need to be sorted out
Packaged insurance is not new; however, until recently its penetration into the UK market has been limited to commercial, not personal-lines, business. With the small and medium-sized enterprises (SME) commercial insurance market in Britain estimated to be worth around £4bn a year in gross premium income, servicing around 3.7m firms, it is hardly surprising that the UK's insurers and brokers would target this market first.
Commercial buyers are far more price-elastic than personal-lines buyers
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