{"id":1538,"date":"2023-03-15T07:30:02","date_gmt":"2023-03-14T21:30:02","guid":{"rendered":"https:\/\/avidinsurancebrokers.com.au\/?p=1538"},"modified":"2023-03-14T09:49:43","modified_gmt":"2023-03-13T23:49:43","slug":"tough-times-result-in-swing-towards-brokers-vero-sme-index","status":"publish","type":"post","link":"https:\/\/catchymarketing.com.au\/avid\/tough-times-result-in-swing-towards-brokers-vero-sme-index\/","title":{"rendered":"Tough times result in swing towards brokers: Vero SME Index"},"content":{"rendered":"<h1 class=\"post-title\">Tough times result in swing towards brokers: Vero SME Index<\/h1>\n<div class=\"article_content\">\n<p>Broker satisfaction levels remain high and there may be a shift toward seeking the advice of intermediaries amid difficult economic conditions, the latest Vero SME Insurance Index shows.<\/p>\n<p>Some 78% of clients are satisfied with their broker, with the percentage holding well above pre-pandemic levels of 66% in 2019, while easing from a covid-attributed spike to 84% in the previous survey.<\/p>\n<p>The annual survey shows 61% of respondents use a mix of channels to purchase insurance, up from 54% a year earlier, with the increase driven by a reduction in those who bought entirely through direct channels. The percentage of \u201cheavy broker users\u201d held steady.<\/p>\n<p>Some 62% of direct buyers said they would consider using a broker in the future, up from 50% last year and 41% in 2019.<\/p>\n<p>The findings shows that 68% of broker clients are satisfied with their claims experiences, a 20 percentage point higher result compared to those who buy their insurance direct.<\/p>\n<p>\u201cWe know mixed usage is here to stay, but there appears to be some signs there that non-users are increasingly considering broker usage,\u201d Vero Head of Distribution Anthony Pagano says.<\/p>\n<p>\u201cIn an uncertain and challenging environment, it\u2019s understandable that clients might be looking for additional support with these important business decisions.\u201d<\/p>\n<p>Mr Pagano says the survey highlights the pressures that broker clients are under, with 61% of respondents nominating economic concerns as a worry. Two thirds of businesses reported that they are experiencing major or moderate impacts from inflation and over half are being impacted by supply cost increases.<\/p>\n<p>The survey finds that 61% of businesses are planning changes in the next year, but 41% admit insurance is the last thing they consider when making changes.<\/p>\n<p>Trust in brokers held stable amid a period that has included record flooding and repeated natural catastrophes, as well as economic volatility. The survey finding 31% of SMEs agree with the statement that \u201cat the end of the day, you can\u2019t trust insurance brokers\u201d, consistent with the previous year.<\/p>\n<p>The level of respondents who agreed that you can\u2019t trust insurance companies increased to 37% from 33%, while 48% agreed that recent events have made them more wary of the industry, up from 41% previously.<\/p>\n<p>The Vero SME Insurance Index report is based on research involving owners and insurance decision makers at 1500 SMEs and 250 large businesses, covering a range of enterprise types and locations. The survey is conducted by BrandMatters.<\/p>\n<p>Vero will provide further updates from the index over coming months covering Environmental, Social and Governance (ESG) issues, natural disasters and employee concerns.<\/p>\n<div>\n<div>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>Resource:<\/p>\n<p><a href=\"https:\/\/insurancenews.com.au\/local\/tough-times-result-in-swing-towards-brokers-vero-sme-index\">Insurance News<\/a> \u2013 13\/03\/2023<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tough times result in swing towards brokers: Vero SME Index Broker satisfaction levels remain high and there may be a shift toward seeking the advice of intermediaries amid difficult economic conditions, the latest Vero SME Insurance Index shows. Some 78% of clients are satisfied with their broker, with the percentage holding well above pre-pandemic levels [&hellip;]<\/p>\n","protected":false},"author":153,"featured_media":1539,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tough times result in swing towards brokers: Vero SME Index - Avid Insurance Brokers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/catchymarketing.com.au\/avid\/tough-times-result-in-swing-towards-brokers-vero-sme-index\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tough times result in swing towards brokers: Vero SME Index - Avid Insurance Brokers\" \/>\n<meta property=\"og:description\" content=\"Tough times result in swing towards brokers: Vero SME Index Broker satisfaction levels remain high and there may be a shift toward seeking the advice of intermediaries amid difficult economic conditions, the latest Vero SME Insurance Index shows. Some 78% of clients are satisfied with their broker, with the percentage holding well above pre-pandemic levels [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/catchymarketing.com.au\/avid\/tough-times-result-in-swing-towards-brokers-vero-sme-index\/\" \/>\n<meta property=\"og:site_name\" content=\"Avid Insurance Brokers\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/avidinsurancebrokers\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-14T21:30:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-13T23:49:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/catchymarketing.com.au\/avid\/wp-content\/uploads\/2023\/03\/pexels-alex-green-5699456.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Catchy Support\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Catchy Support\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/catchymarketing.com.au\/avid\/tough-times-result-in-swing-towards-brokers-vero-sme-index\/\",\"url\":\"https:\/\/catchymarketing.com.au\/avid\/tough-times-result-in-swing-towards-brokers-vero-sme-index\/\",\"name\":\"Tough times result in swing towards brokers: Vero SME Index - Avid Insurance Brokers\",\"isPartOf\":{\"@id\":\"https:\/\/catchymarketing.com.au\/avid\/#website\"},\"datePublished\":\"2023-03-14T21:30:02+00:00\",\"dateModified\":\"2023-03-13T23:49:43+00:00\",\"author\":{\"@id\":\"https:\/\/catchymarketing.com.au\/avid\/#\/schema\/person\/95aa3ef8067e08af7af831db3faf2386\"},\"breadcrumb\":{\"@id\":\"https:\/\/catchymarketing.com.au\/avid\/tough-times-result-in-swing-towards-brokers-vero-sme-index\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/catchymarketing.com.au\/avid\/tough-times-result-in-swing-towards-brokers-vero-sme-index\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/catchymarketing.com.au\/avid\/tough-times-result-in-swing-towards-brokers-vero-sme-index\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/catchymarketing.com.au\/avid\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tough times result in swing towards brokers: Vero SME Index\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/catchymarketing.com.au\/avid\/#website\",\"url\":\"https:\/\/catchymarketing.com.au\/avid\/\",\"name\":\"Avid Insurance Brokers\",\"description\":\"Insurance Brokers in Lismore and Ballina\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/catchymarketing.com.au\/avid\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-AU\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/catchymarketing.com.au\/avid\/#\/schema\/person\/95aa3ef8067e08af7af831db3faf2386\",\"name\":\"Catchy Support\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/catchymarketing.com.au\/avid\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bf1ad2899c417db64a2b6aae647ce0e5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bf1ad2899c417db64a2b6aae647ce0e5?s=96&d=mm&r=g\",\"caption\":\"Catchy Support\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tough times result in swing towards brokers: Vero SME Index - Avid Insurance Brokers","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/catchymarketing.com.au\/avid\/tough-times-result-in-swing-towards-brokers-vero-sme-index\/","og_locale":"en_US","og_type":"article","og_title":"Tough times result in swing towards brokers: Vero SME Index - Avid Insurance Brokers","og_description":"Tough times result in swing towards brokers: Vero SME Index Broker satisfaction levels remain high and there may be a shift toward seeking the advice of intermediaries amid difficult economic conditions, the latest Vero SME Insurance Index shows. 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