Small Business Segments: Marketing Business Insurance to Major Professions and Trades in the UK is a report and interactive database - SegmentBASE™ - that provides updated perspectives on the market for insurance acquired by small businesses, self-employed individuals and other small enterprises in the UK. With a focus on enterprises with an annual turnover of up to £5 million, the research sizes the market both in terms of the actual number of insurable enterprises in each of 105 major professional and trade segments and the value of their business insurance expenditure each year. In addition, the same data is provided across 12 regions.
It also offers a breakdown of this data across three annual turnover bands (enterprises with an annual turnover of up to £100,000, enterprises with an annual turnover of between £100,000 and £1 million, and enterprises with an annual turnover of between £1 million and £5 million) and provides 'backcasts' to 2012 and forecasts to 2020 in order to provide a time line across nine years.
Furthermore, as well as presenting this data, the sections of the report focused on each of the 105 segments indicate professional and trade associations relevant to the segment, highlight commercial insurance affinity programs established in conjunction with those associations, and identify insurance providers with products or schemes targeted specifically at the segment.
The report and interactive database can be used in one or more of the following ways:
understand the total number of insurable enterprises with an annual turnover of up to £5 million across 105 professional and trade segments and benchmark your organisation’s current market share of customers in each of these;
appreciate how certain segments offer a sustainable growth opportunity for insurance providers while others are in long-term decline, irrespective of the economic cycle;
gain insights into the value, growth in value and segmentation of commercial insurance expenditure by small enterprises across 12 UK regions;
use the report and accompanying SegmentBASE database as a tool to compare any data modelled by your own organisation with Finaccord’s ‘default data’;
on a completely flexible and cost-effective basis, gain insights into as many or as few of the 105 professional and trade segments covered as your organisation is interested in.
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Finaccord is a market research, publishing and consulting company specialising in insurance and other financial services. Finaccord is part of Aon Global Operations, Singapore Branch.