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Podcast series launches to bring in-depth broker insight

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A new series of podcasts focusing on the detailed findings of Vero’s latest SME Index has been launched.

The first episode, highlighting broker value and featuring the observations of Vero’s Strategic Relationship Manager Kathy Platakis and Resilium MD Ben Hastie, can be accessed here.

This year’s Index, which surveyed 1500 businesses, finds that increasing numbers of SME owners are using brokers for some risks, but going direct for others.

In 2018, 27% of the businesses surveyed were so-called “heavy users” of a broker, while 42% described themselves as “moderate” users.

This year only 14% say they’re heavy users of a broker, and 54% describe their use of a broker as “moderate”.

“We’ve got a younger generation of business owners … coming into their own and they’re a little bit more comfortable with placing online or direct,” Mr Hastie told the podcast, but he says having a claim could change their minds.

“That’s when they see the real value and that’s when I think they’ll then for ever more be a broker customer.”

Ms Platakis agrees that going it alone comes with added risk.

“[A broker] really can match the customer up with the right insurance,” she tells the podcast.

“And claims is where the rubber really hits the road and really sets the broker apart on how they facilitate that for the client.”

Produced by insuranceNEWS.com.au in association with Vero, the series will feature three more episodes, focusing on claims, SMEs vs large businesses, and managing risks.