ICSR: a Backbone to UK’s Commercial Insurance Distribution REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Commercial insurance in UK is a very competitive market and the distribution of insurance products continues to change and fluctuate. The SME (Small and medium-sized enterprises) market is driving the change in the UK commercial insurance with direct purchase from provider. The SMEs require a more simplistic and efficient insurance coverage. The SME’s have differing purchasing behaviors compared to larger corporate businesses, and majorly focus on the role and strategies of brokers within product distribution. Commercial insurance focuses on the challenges and the impact of technology on consumer channel preferences, before concluding with a distribution forecast for the future years. UK’s commercial insurance market is dominated with brokers who participate in the distribution of commercial insurance. Brokers of all capacities are very keen to improve their online schemes to provide a better level of customer service. Majority of the SME’s face a problem with under insurance. The reasons for missing the adequate insurance cover are due to the citing price and a general lack of knowledge or product awareness. Implement Compliance Solutions & Resources was established to help businesses cope with the changing regulations and consumer requirements. ICSR is offering a lot of compliance focused advisory services to help insurance groups prepare for the new Europe-wide directives and including the Insurance Distribution Directive along with other changes. ICSR is focused on areas of compliance related fields, from governance such as corporate governance, compliance, legal, risk, audit (regulatory engagements and interventions), preparing businesses for new consultation papers, thematic reviews, appointment of a skilled person or other intervention. ICSR offers services in terms of pure advisory, advisory and implementation, or through internal support mechanism. According to the research report “UK Commercial Insurance Distribution 2017”, accommodating the rules on tax, relationships, safety, along with various EU directives, is a daunting task for commercial businesses. UK rules are often not easy to overlook, with risks from non-compliance potentially leading to fines, cases, an or criminal investigations. The UK government has cracked-down on tax evasion, environmental regulation violations and cyber-security lapses changes stemming from Brexit. The new rules for UK commercial insurance are applied to both already established and new businesses that will face a lot of risks involving potential litigation. The leading competitors in the commercial insurance market are AXA, Direct Line, Hiscox, NFU Mutual, Aviva, Allianz, Simply Business, Towergate, Confused.com, Comparethemarket.com, Moneysupermarket.com, Gocompare.com, Barclays, Lloyds Bank, Arthur J. Gallagher, JLT, Marsh, Aon, Willis, AA, Saga, Thistle Insurance Services, Tower Watson, Jelf, Insurance Times, Willis Tower Watson, and Giles. Large and small business insurance in UK offer quotes and cover for every type of commercial risk and enterprise irrespective of value, size or number of employees. UK Commercial Insurance Brokers are connected to qualified and regulated commercial insurance experts and specialist business insurance staff who provide best service. Few types of commercial insurance are compulsory as per UK laws. An increasing demand for consulting firms in UK, the commercial insurance is facing a lot of challenges related to advisory services focusing on assisting organisations in transformation brought about by acquisitions and corporate restructurings, changes in law or regulation or interpretation. With the introduction of technology, new distribution strategies and revolutionize commercial insurance products in UK, the market is sure to witness a positive growth over the coming years. Figure: UK Insurance Industry, Segmentation Source: Association of British Insurers, IFSL The insurance industry in UK is the third largest in the world with over three lakh employees accounting for one-third of the entire financial services jobs in the country. Commercial insurance in UK is commonly known as property insurances that covers damages to the business property. UK has 772 authorized insurance companies To know more, click on the link below. https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/uk-commercial-insurance-distribution/110364-93.html Related Reports Arthur J. Gallagher: Acquisitions create a dominant force in commercial insurance broking UK Commercial Insurance Distribution 2016; An industry where adapting to the market is key Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications ankur [@] kenresearch.com +91-9015378249 www.kenresearch.com Tags: general insurance industry analysis uk, uk commercial insurance distribution analysis, UK Commercial Insurance Distribution Market Report, uk commercial insurance industry competition, uk commercial insurance industry future outlook, UK Property Insurance Analysis, uk real estate industry analysis