Beat the threat from direct
The best form of defence is attack, writes Simon Ronaldson, who says imarket can help brokers cut the time spent inputting data to become more competitive
Direct Line demonstrated how easily a direct player can make a dramatic and industry-changing entry into a commoditised market. Most industry commentators see no difference between a motor policy and the small commercial package contracts, such as Shop or Office, so are there lessons to be learnt?
A direct player, especially with an established brand capable of extension into selling commercial insurance to small to medium-sized businesses, could cut the cost of distributing the product by 25% to
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