Q&A with Will Edwards, Head of SME
06/07/2022
What are your plans for SME over the next 12 months?
We want to continue to grow and serve our brokers and customers in the best way we can. Recently we have been awarded a five star rating from Insurance Times, which is the first time we've achieved this and shows the dedication across the team to deliver for our partners.
Over the next 12 months we will continue to see how we can improve the service provided to our brokers, across all the different mediums as well as reviewing our products to deliver propositions the customers need.
What was your highlight from BIBA this year?
For me, BIBA was incredible. I had only been in role for a few weeks and having the opportunity to spend a week face to face with brokers and get direct feedback on how we perform and how we stack up against the market was invaluable. For me there wasn't one specific highlight, it was more the opportunity to be able to engage with our brokers so early on into my new role that I took away from the event.
I was delighted to hear from brokers that they feel we are delivering a great service, and how the improvements we've made over the last few years are making a difference. Particularly, how we're working together to be able to deliver the right propositions to market and deliver for our brokers and customers in the right way and with speedy response.
What do you think contributed to Zurich receiving 5 stars for their eTrade offering?
We are customer centric in everything we do. We constantly try and improve our service for our brokers and try and drive forward the right outcomes that they want to see. Everything we do is focused around delivering for them, we've developed a really good offering with Acturis and Zurich Online. We continue to enhance and improve what we offer, and we are always looking at further improvements that can be made.
Overall, it's a combination of the great eTrade platform capabilities and excellent service from our underwriters which builds on the strong relationships our distribution and sales colleagues have in the market. Those three things together are driving the positive performance for us.
What was the driving force behind offering Zurich’s Small Fleet customers electric vehicle coverage?
It’s a couple of things. At Zurich we have a global focus on sustainability, and we are striving to be one of the most sustainable companies in the world, not just in insurance. Part of that is working out how we can develop solutions for more sustainable offerings, and electric vehicles are a key example of that.
Secondly, we know that a proportion of our customers fleets have electric, or hybrid vehicles and that number will increase rapidly going forward. Therefore, we need to make sure that we're staying ahead of the market in what we're offering to our brokers and customers and make sure we continue to offer suitable products that cover our customers emerging risks.
What emerging risks do you see impacting SMEs the most in the near future?
The one that immediately springs to mind is the current economic environment. For all companies the cost-of-living increase alongside inflation is going to have an impact. This impact could be felt on wage bills and operating costs increasing such as energy. When it comes to insurance, the industry needs to make sure that we are delivering the right products with the right cover to make sure our customers have what is required when they need us.
The other one is the changes brought along by COVID. COVID has accelerated the digital transformation SMEs are going through. Therefore, we need to ensure that our products stay relevant and offer the right cover for our customers. For example, a business that historically had a small high street store and has now transitioned to selling their products online. They are storing their merchandise at their home property, which has increased their fire risk. So how do we make sure that the products we offer take into these considerations to ensure we continue to offer our brokers and customers suitable products giving them the protection they need.
