BrandMatters worked with Vero to develop the concept of an SME Insurance Index, aimed at building relationships and truly partnering with insurance brokers by giving them a better understanding of SMEs and their attitudes towards commercial insurance.
Following extensive qualitative and quantitative research by BrandMatters, Vero launched the inaugural Vero SME Insurance Index in 2012. The intent underpinning the Index was that by understanding how SMEs approach insurance, brokers will be better equipped to provide tailored advice and service to their customers.
Due to the initiative’s success since its launch in 2012, BrandMatters has partnered with Vero to research, design and produce an SME Insurance Index in 2013, 2014, 2015, with the 2016 Index recently launched. The Report is based on an online quantitative survey of 1,500 business owners and insurance decision makers around Australia, and a series of 12 qualitative interviews, with six filmed onsite at SME businesses. As this is the fifth report Vero has completed in partnership with BrandMatters, this now means we have spoken to over 6000 SMEs to date.
In addition to conducting the research study, BrandMatters wrote, designed and produced the 36 page report. We conducted qualitative interviews with SMEs, and worked with video production partners to film SME case studies. We have also created supporting infographics, presentations and Prezis, facilitated training sessions with Vero BDMs and presented the findings to brokers around the country. The Index is also promoted each year via a teaser launch campaign with elements including the SME videos, animated online advertising on key insurance sites and eDMs.
A focus on research and insights
The purpose of the Index is to help insurance brokers to understand and work with their SME clients more effectively by shedding light on the attitudes and behaviours of SMEs with regard to insurance, and highlighting challenges and opportunities in the SME insurance sector.
This year, for the first time, BrandMatters also conducted an additional research piece, the role of which was to gather feedback from insurance brokers as to what information they would like to see added to the report.
This was achieved via a quantitative survey with 605 brokers across the country.
The insights extracted as a result of this process enabled BrandMatters to address the information that was most vital to the broking community and as a result, ensure that the 2016 report remains a relevant and engaging tool.
The annual Vero SME Insurance Index has been an ongoing source of engagement between Vero and its broker clients for five years. The Index’s profile continues to grow, with key industry luminaries, and even competitors, anticipating its launch each year, and referring to it in articles and at events.
Through the additional step of engaging the brokers with the creation of the report we ensured that the report continued to deliver content that was relevant to its audience. In turn, through these insights Vero continues to be a valuable tool to strengthen Vero’s position as a thought leader and true partner to brokers.
Download a copy of the Vero SME Insurance Index 2016 here.
Download a copy of the Vero SME Insurance Index 2015 here.
Download a copy of the Vero SME Insurance Index 2014 here.
Download a copy of the Vero SME Insurance Index 2013 here.
Download a copy of the Vero SME Insurance Index 2012 here.