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Insurers must rethink the SME segment : lessons from the United Kingdom

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<title>Insurers must rethink the SME segment</title>
<subTitle>: lessons from the United Kingdom</subTitle>
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<namePart>Albonico, Maria</namePart>
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<namePart>Grimaldi, Antonio </namePart>
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<namePart>Horsch, Philipp </namePart>
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<placeTerm type="text">New York</placeTerm>
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<publisher>McKinsey & Company</publisher>
<dateIssued>2020</dateIssued>
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<abstract displayLabel="Summary">The largest commercial segment in the United Kingdom is small and medium-size enterprises (SMEs), which account for more than 99 percent of all companies and 77 percent of the workforce. Insurance premiums written for SMEs surpass those of large corporations, representing more than 60 percent of the gross premiums written for commercial property and casualty lines. As many SMEs are evolving their business models, this segment still has important growth potential for insurersfor example, through the sharing economy and the growth of freelancing.</abstract>
<note type="statement of responsibility">Maria Albonico, Antonio Grimaldi, Philipp Horsch</note>
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<topic>Pequeñas y medianas empresas</topic>
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<geographic>Reino Unido</geographic>
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