Research Outline

Consumer Journey Commercial/Business Insurance


Provide information on how commercial/business insurance is typically purchased in the following six markets: Switzerland, the UK, the US, Australia, Germany, and Spain. Specifically, the research should include if commercial insurance in each market is generally purchased directly vs via a distributor/broker, main decision makers and what influences them, common client questions in each market, marketing channels that reach each market, and information on the size of different commercial insurance sectors (e.g. financial services, property, manufacturing etc.) in each market.

Early Findings


  • In the US, 73% of commercial insurance is distributed by a broker, while 27% is non-broker.
  • The top three brokers in the US are Aon plc, Marsh, and Willis Towers Watson, have 12%, 11% and 2% market share respectively.
  • In Europe, 68% of commercial insurance is distributed by a broker, while 32% is non-broker.
  • Aon plc, Marsh, and Willis Towers Watson are also the top brokers in Europe, with 16%, 12% and 10% market share in that market, respectively.

US Commercial Insurance Customer Journey

  • Generally, commercial insurance in the US is purchased by business owners or leadership teams utilizing an insurance broker.
  • Companies generally revise or update their insurance coverage when their policy comes up for renewal, but also during other business transitions such as opening a new or upgrading a workspace, launching new products to market, beginning new contracts with vendors, purchasing new company vehicles or changing their corporate structure.
  • Commercial insurance purchasers are increasingly looking for self-service, digital buying options, as opposed to more traditional options such as making inquiries by email, phone, or via brokers.

Global Commercial Insurance Industry Segmentation

  • According to major insurance broker Aon plc, in 2017, manufacturing generated the highest premiums worldwide, followed by agriculture, fishing and forestry. Other important sectors include financial institutions, the mining and minerals sector and technology and media firms.
  • In terms of commercial product offerings, commercial auto insurance, workers compensation, and micro-business (businesses with fewer than 9 employees) insurance were dominating product offerings.
  • According to Aon, "there is no standardized data set that describes the size and segmentation of commercial lines insurance."

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Prepared By
Alexis Z.
3550 assignments | 5.0