Schemes insight survey 2016
Technology continues to drive substantial change in the UK schemes market according to the latest survey carried out by UK General. See the full results from our biggest ever schemes insight survey.
As well as revealing a 24% increase across the past two years in the number of brokers trading schemes on their own websites, social media has been identified as the biggest opportunity for schemes growth.
With over 300 participants, findings from the annual survey revealed 70% of brokers believe that the general insurance market has become more geared towards schemes and 68% agreeing that this growth has been achieved through specialist and niche classes of business as opposed to mass market.
Brokers also commented that unsurprisingly, price is still by far the most important purchase decision for their customers with 91% in agreement, up 4% from 2015. It has also been found that breadth of cover, customer services and ease of access are important criteria when purchasing an insurance policy.