The number and complexity of risks that SMEs have to cope with is increasing, so Zurich has set out to share its expertise and knowledge with the SME community and provide support to the broker community, through greater risk insights.
The Zurich SME Risk Index
Since 2012, Zurich has partnered with YouGov to track how UK SMEs are responding to the emerging business environment and risk challenges in the sector. The Zurich SME Risk Index surveys 500 UK SMEs nationally on a quarterly basis; providing insight into current macro-economic concerns, key risk challenges / threats, and also emerging opportunities within the small business sector.
As thought leaders in the SME community, Zurich wants to increase understanding of this key area of the nation’s economy. In 2015 the survey highlighted that more than half (53%) of Britain’s small-and-medium sized enterprises are owed money from late payments, with estimates totalling as much as £255 billion outstanding; nearly half (49%) of SME decision makers have worked on Christmas Day; and nearly a third (32%) have sacrificed the festivities to check and send work emails.
CR for brokers
In 2016 we took CR to our broker community by running a seminar on CR at BIBA,the biggest insurance broker conference in the UK. We followed this up with a report in our broker publication 'The Insider.'