Problems of pigeonholing
With 4.8 million businesses falling into the SME category, how effective is this classification in meeting client requirements? Martin Friel investigates how providers and brokers can satisfy the needs of this diverse sector
"I'm a butcher," says the client.
"Ah, that means you're an SME," the broker replies.
"No, I'm a butcher. What's an SME?" he asks.
"It's a small to medium-sized enterprise," the broker explains helpfully. "It's how you are categorised by our insurers."
"Right, whatever. I'm a butcher and I want you to get me my insurance."
"Certainly sir. We have just the package product for you. We offer it to all of our SME clients," the broker replies.
"I told you, I'm a butcher! Look, I've explained my risks
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