It looks like top insurer Aviva has found the middle ground for midmarket clients.
As part of a “redesigned” approach, Aviva said it is investing in its technology and specialist partner network to open up corporate-level services to the midmarket segment while providing customer-level underwriting.
“Too large for government initiatives and too small to employ full-time risk managers, midmarket businesses are often left stuck in the middle,” stated Gareth Hemming, SME commercial lines director at Aviva.
“To address these issues, we are taking a big business approach to midmarket, offering personalised advice, business insights based on sophisticated data analytics, and access to innovative technology. Traditionally these sorts of services have only been available to large companies.”
Aviva has built a suite of products and services through a network of over 40 specialist partners to provide the likes of online reputational monitoring and leak detection technology, as well as aerial inspections using drones.
Having assessed the insurance and wider business needs of the segment, the insurer will offer an integrated proposition across the sectors of professional and business services; industrial and manufacturing; real estate and construction; arts and culture; technology; retail and wholesale; health and public sector; and the motor industry.
Implementing the new strategy is David Carey, who came onboard Aviva last year as head of midmarket.
“Midmarket businesses want peace of mind, customisation, superior service, forward thinking, and partnership,” noted Carey. “Aviva has the footprint to bring this proposition to every corner of the country and offer added value and expertise in our eight industry segments.”
The insurer defines the UK’s midmarket businesses as between £5 million and £100 million annual turnover.
