SMEs

Pacific insurers see SME and group business as a way forward for growth

However, a lack of insurance awareness amongst business owners, and the condition of some businesses (insurability) are hampering the speed at which insurance take up is happening amongst this market segment.

The majority of the respondents from 12 of the leading insurance providers in the region recently surveyed by the Pacific Financial Inclusion Programme (PFIP) say that while SME’s make up a very important part of Pacific economies, insurance providers are still working out how to best capitalise on the opportunity that SMEs present.