UK Insurance Distribution: Regional Presence

Date: 2015-11

Regionalization will continue to be a key trend of insurance distribution in 2013, with a local presence considered by insurers to be pivotal in the mid-market space. The next step is to leverage regional office footprints to maximize value through local expertise, delegated authority, and establishing a sense of trust and stability.

– Inform your view of the next steps in regional strategies with the opinions of market experts and Verdict Financial analysis.
– Compare your distribution strategy in the mid-market space with the approaches taken by the competition.

– How can full potential from a regional footprint be achieved and what steps are needed to get there?
– How are other insurers approaching regionalization and what objectives are they likely to have in 2013?

Key Highlights
Commercial insurance is a business built on relationships, and insurers regard regional offices as a route to increasing awareness, visibility, responsiveness, quality of underwriting, and ultimately broker trust.

Large insurers are developing footprints to win mid-market business, but Lloyd’s insurers are also branching out and expanding in focus from specialist to general mid-market business.

Regionalization forms only one element of a wider picture of distribution and should be viewed as such. The use of technology is an integral part of expanding an insurer’s footprint.”

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