Additional guidance from a provider or external party is important The online tracking of claims is most important to SMEs Simplicity is key for SMEs in the age of speed and immediacy 18.5 % of SMEs regard online claim tracking as the most critical service SMEs struggle to understand cover for alternative commercial vehicles Nearly one in five find other commercial motor fleet products difficult to understand Employee benefit advice continues to be highly sought after Legal advice is the most common added-value service held by SMEs Advice around employee benefits remains the most unfulfilled additional service
SMES AND BROKER RELATIONSHIPS Price remains the deciding factor for SMEs opting for the broker channel SMEs ' choice of broker is driven by price and complex cover needs Businesses of a smaller stature have more contact with their broker Almost two thirds of micro enterprises only speak with their broker at policy purchase The value SMEs attach to brokers varies by the size of the business
MARKETING ACTIVITY 2015 advertising expenditure increased by almost 10 % year-on-year Direct Line still accounts for the majority of business insurance advertising spend
APPENDIX Definitions Brokers Direct
SME Methodology Verdict Financial ' s 2016 UK SME Insurance Survey Further reading About Verdict Financial Disclaimer
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