There is a huge opportunity within the business protection market. At the start of 2008, there were an estimated 4.8 million private sector enterprises in the UK, employing around 23.1 million people, with an estimated combined yearly turnover of £3,000 billion.*

We also know that the business protection gap is now estimated to be around £1.1 trillion, which is made up of a corporate debt gap of just under £300 billion, shareholder protection gap of over £400 billion and a key person protection gap of over £400 billion.**

How many of these businesses have seriously considered business continuity and succession planning? What would happen to the business if one or more of the key employees died or became seriously ill? Could the business continue to trade, would there be enough cash available to allow the business to function – even in the short term?

Segmenting your client base is an important part of establishing the need for business protection. By looking at your existing client bank in a different way, you could grow your business. You’re probably already speaking to the decision makers, so we’ll show you how to make the most of this. Offering business protection is a way into the lucrative corporate market and the value of this kind of protection is often higher than other types of protection, generating higher than average case sizes with multiple policies.

Visit our business brain website for help in writing a marketing plan, researching your clients’ needs, segmenting your customer base and more

*Department of Business Innovation and Skills, 14 October 2009.

**British Chambers of Commerce, Redefining the business protection gap, 2009