For the first time this year, Swiss Re's annual Group Watch report has published the split of group income protection schemes based on membership numbers to measure SME engagement.
Over two-thirds (68%) of schemes reported having fewer than 50 members during 2016, Swiss Re said this result "showed it is possible to write business" in the smaller scheme market, a view confirmed by most of those responding positively to the question. Swiss Re had collected industry data on scheme size as the Green Paper, Improving Lives, had raised questions about the extent to which SME businesses have group IP in place. This is based on industry assumptions that SMEs have little participation in the market. The number of schemes (% of total schemes in force) based on membersh...
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