VERO SME INSURANCE INDEX
Issue 2 - August 2017
SMEs Under 50 Years
In the previous issue of the Vero SME Insurance Index, it was suggested that a SME's age would have some bearing on their attitudes towards insurance. In Issue 2 we find out when the age difference becomes relevant and what some of those differences are.
Attitudes & behaviours towards insurance of SMEs under 50
- SMEs under 50 are more confident online and more likely to use the internet to research insurance
- SMEs under 50 are price conscious. Price of insurance is the most important concern for them
- 65% of SMEs under 50 feel the need to have insurance, but don’t see the value out of it
- SMEs under 50 are less likely to be satisfied and more likely to change brokers than older generations
- SMEs under 50 are unclear on how brokers can help them.
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View all the customer insights from other issues of the Vero SME Insurance Index. These insights will help build a deeper understanding of commercial insurance for SMEs in New Zealand.