Which Businesses Should Commercial Insurers Target?
Identifying the right commercial insurance target market helps insurance providers focus sales and marketing activity on businesses with a genuine need for cover and a suitable risk profile.
Rather than targeting every UK company, commercial insurers can build prospect audiences around factors such as:
- Industry
- Employee numbers
- Turnover
- Business activities
- Number of locations
- Commercial premises
- Vehicle fleets
- Risk profile
- Relevant decision-makers
The strongest target market will depend on the insurance products offered, underwriting appetite and the types of commercial accounts the provider wants to win.
Table of contents:
Start with the Insurance Products You Offer
Before choosing sectors, define the cover you want to promote.
Commercial insurance products can include:
- Employers’ liability
- Public liability
- Professional indemnity
- Commercial property
- Fleet insurance
- Cyber insurance
- Directors and officers insurance
- Product liability
- Business interruption
- Commercial combined insurance
- Contractors insurance
- Motor trade insurance
Different products naturally lead to different target markets.
A fleet insurance campaign may focus on logistics and construction businesses, while professional indemnity could be more relevant to consultants and other professional services firms.
Define Your Ideal Commercial Customer
A useful target market starts with a clear customer profile.
Consider:
- Which industries you want to insure
- Typical employee size
- Turnover
- Geography
- Number of locations
- Type of premises
- Operational risks
- Potential premium value
- Claims exposure
- Likely policy requirements
For example, one insurer might prioritise manufacturers with 50 to 250 employees.
Another could focus on smaller professional services firms needing professional indemnity and cyber cover.
Look at Your Existing Customers
Current customers can provide useful evidence about where the strongest opportunities exist.
Analyse them by:
- Industry
- Employee numbers
- Turnover
- Premium value
- Products purchased
- Claims history
- Retention
- Profitability
Patterns may quickly emerge.
If medium-sized engineering businesses consistently generate strong commercial accounts, similar companies may deserve greater prospecting focus.
Build Lookalike Prospect Audiences
Once strong customer groups have been identified, find businesses with similar characteristics.
For example, if your best customers are:
- Manufacturers
- 50 to 200 employees
- �5 million+ turnover
- Multiple commercial insurance requirements
you can build a prospect audience containing comparable UK businesses.
This can be more effective than targeting a broad sector without any further qualification.
Manufacturing
Manufacturing can be a strong commercial insurance target market because businesses often face multiple operational risks.
Potential prospects include:
- Engineering companies
- Food manufacturers
- Machinery manufacturers
- Metal fabricators
- Plastics manufacturers
- Packaging companies
- Furniture manufacturers
- Electrical equipment manufacturers
Relevant insurance requirements may include:
- Commercial property
- Product liability
- Employers’ liability
- Business interruption
- Machinery-related cover
- Fleet insurance
- Cyber insurance
The diversity of the sector also allows insurers to build campaigns around specific manufacturing specialisms.
Construction
Construction businesses can require a broad range of commercial insurance products.
Potential targets include:
- Main contractors
- Civil engineering companies
- Electrical contractors
- Plumbing contractors
- Roofing companies
- Groundworks contractors
- Mechanical contractors
- Specialist subcontractors
Possible cover requirements include:
- Employers’ liability
- Public liability
- Contractors all risks
- Plant and equipment
- Commercial vehicle insurance
- Professional indemnity
Construction can also be segmented by trade, company size and geography.
Transport and Logistics
Transport and logistics companies can provide opportunities for insurers with suitable commercial products.
Potential prospects include:
- Haulage companies
- Distribution businesses
- Freight operators
- Couriers
- Warehousing companies
- Logistics providers
Relevant insurance can include:
- Fleet insurance
- Goods in transit
- Employers’ liability
- Public liability
- Commercial property
- Business interruption
The size of the fleet and operational model can help distinguish stronger prospects.
Professional Services
Professional services firms can be particularly relevant for insurers offering professional and cyber-related products.
Potential target sectors include:
- Accountants
- Consultants
- Architects
- Surveyors
- Marketing agencies
- IT consultants
- Business advisers
Possible requirements include:
- Professional indemnity
- Cyber insurance
- Employers’ liability
- Directors and officers insurance
- Office insurance
These businesses can often be segmented effectively by profession and company size.
Technology Companies
Technology businesses can be attractive prospects for insurers with specialist products.
Potential targets include:
- SaaS companies
- Software developers
- IT consultancies
- Managed service providers
- Cybersecurity companies
- Cloud providers
- Technology consultancies
Relevant cover may include:
- Professional indemnity
- Cyber insurance
- Directors and officers insurance
- Employers’ liability
- Commercial property
Technology companies can also have rapidly changing risk profiles as they grow.
Recruitment Agencies
Recruitment businesses can represent a clearly identifiable B2B prospect market.
Potential insurance requirements include:
- Professional indemnity
- Cyber insurance
- Employers’ liability
- Public liability
- Office insurance
- Directors and officers insurance
Recruitment agencies range from small owner-managed firms to national groups.
Company size can therefore help insurers target the right level of account.
Wholesale and Distribution
Wholesalers and distributors can face risks relating to stock, premises, employees and delivery operations.
Potential insurance requirements include:
- Commercial property
- Stock cover
- Product liability
- Fleet insurance
- Employers’ liability
- Business interruption
Relevant sectors can include:
- Food wholesalers
- Electrical wholesalers
- Industrial distributors
- Automotive wholesalers
- Building materials suppliers
Breaking wholesale into smaller product categories can improve campaign relevance.
Property Businesses
The property sector can provide several commercial insurance opportunities.
Potential prospects include:
- Commercial property owners
- Property investment companies
- Property management businesses
- Residential property companies
- Block management companies
- Property developers
Relevant cover can include:
- Property owners insurance
- Public liability
- Employers’ liability
- Professional indemnity
- Directors and officers insurance
The number and type of properties can help determine account potential.
Facilities Management
Facilities management businesses can have complex operational risks because they often work across multiple customer sites.
Potential targets include:
- Facilities management contractors
- Cleaning companies
- Building maintenance providers
- Security businesses
- Mechanical and electrical contractors
- Grounds maintenance companies
Insurance requirements may include:
- Employers’ liability
- Public liability
- Commercial vehicles
- Professional indemnity
- Tools and equipment
Larger operators may also employ significant workforces and manage vehicle fleets.
Hospitality
Hospitality businesses can face a combination of property, liability and operational risks.
Potential prospects include:
- Hotels
- Restaurants
- Pubs
- Caf�s
- Event venues
- Leisure businesses
Relevant insurance can include:
- Buildings and contents
- Public liability
- Employers’ liability
- Business interruption
- Stock cover
- Commercial vehicles
Larger and multi-site operators can be particularly valuable accounts.
Motor Trade
The motor trade can provide opportunities for specialist commercial insurers.
Potential prospects include:
- Car dealerships
- Used car dealers
- Garages
- MOT centres
- Bodyshops
- Commercial vehicle dealers
- Vehicle repair businesses
Motor trade companies can have specialist insurance requirements that differ significantly from standard office-based risks.
Industry knowledge can therefore be particularly important.
Healthcare
Private healthcare and related businesses can provide another potential commercial market.
Relevant prospects may include:
- Private clinics
- Dental practices
- Care providers
- Physiotherapy businesses
- Occupational health providers
- Healthcare companies
Insurance needs can vary considerably according to the activity of the organisation.
Careful segmentation is therefore important.
Retail
Retail contains a very large number of UK businesses, although commercial value can vary significantly.
Potential prospects include:
- Independent retailers
- Multi-site retailers
- Specialist stores
- Online retailers
- Retail groups
Possible insurance requirements include:
- Commercial premises
- Stock
- Public liability
- Employers’ liability
- Business interruption
- Cyber insurance
Employee numbers, turnover and number of locations can help identify higher-value accounts.
Target Businesses with Employees
Employee numbers can influence both insurance requirements and potential premium value.
Businesses with employees may require:
- Employers’ liability
- Additional liability cover
- Staff-related risk protection
Possible targeting bands include:
- 5 to 19 employees
- 20 to 49 employees
- 50 to 99 employees
- 100 to 249 employees
- 250+ employees
The right range will depend on your underwriting appetite and target account size.
Use Turnover to Refine the Market
Turnover can provide another indication of business scale.
Potential filters could include:
- �1 million+
- �5 million+
- �10 million+
- �50 million+
Turnover alone does not determine premium value, but it can help distinguish smaller businesses from larger commercial accounts.
Combining turnover with industry and employee numbers usually creates a stronger target audience.
Consider Number of Locations
Multi-site organisations can have more complex insurance requirements.
Potential prospects include:
- Retail chains
- Hotel groups
- Care groups
- Automotive groups
- Property companies
- Logistics businesses
Several premises can increase:
- Property exposure
- Employee exposure
- Fleet requirements
- Business interruption risk
Multi-site organisations may therefore deserve greater prospecting priority.
Consider Vehicle Fleets
Businesses operating multiple vehicles can be particularly relevant for commercial motor and fleet products.
Potential sectors include:
- Logistics
- Construction
- Facilities management
- Engineering
- Wholesale
- Field service businesses
Fleet size can help distinguish stronger opportunities.
Where possible, insurers can combine industry and company size with likely vehicle requirements.
Consider Commercial Premises
The type of premises can provide useful clues about risk.
Potential examples include:
- Factories
- Warehouses
- Offices
- Hotels
- Shops
- Workshops
- Distribution centres
Businesses operating substantial or specialist premises may have more complex insurance requirements.
Premises information can therefore strengthen industry-based targeting.
Consider the Risk Profile
A good commercial insurance target market should align with underwriting appetite.
Factors can include:
- Industry risk
- Claims exposure
- Property type
- Business activities
- Vehicle usage
- Employee numbers
- Contractual requirements
- Cyber exposure
A large market is not necessarily attractive if the risks do not fit your products or underwriting criteria.
Consider Potential Premium Value
The number of businesses in a sector should not be the only consideration.
Look at potential commercial value.
Factors might include:
- Company size
- Employee numbers
- Turnover
- Number of locations
- Property value
- Fleet size
- Operational complexity
- Number of policies required
A smaller audience of higher-value risks may be more attractive than a very large market of low-premium accounts.
Identify the Right Decision-Makers
Once the right businesses have been identified, find the people responsible for insurance.
Potential contacts include:
- Business Owners
- Managing Directors
- Finance Directors
- Financial Controllers
- Operations Directors
- Commercial Directors
- Risk Managers
- Procurement Managers
The best role will vary by company size and structure.
Match Decision-Makers to Company Size
Smaller businesses may have insurance managed by:
- Business Owner
- Managing Director
Medium-sized organisations could involve:
- Finance Director
- Financial Controller
- Operations Director
Larger businesses may have:
- Risk Managers
- Procurement teams
- Finance Directors
- Operations Directors
Matching job-role targeting to company size can improve prospect quality.
Target the Department Closest to the Risk
Different insurance products can involve different internal stakeholders.
For example:
Fleet Insurance
Potential contacts include:
- Fleet Manager
- Operations Director
- Finance Director
Professional Indemnity
Relevant contacts might include:
- Managing Director
- Finance Director
- Commercial Director
Cyber Insurance
Potential decision-makers could include:
- IT Director
- Finance Director
- Risk Manager
Commercial Property
Relevant contacts may include:
- Finance Director
- Property Manager
- Business Owner
This can make campaigns more focused.
Build Industry-Specific Prospect Lists
Rather than building one generic commercial insurance database, create separate audiences.
For example:
Manufacturing
Target:
- 50+ employees
- �5 million+ turnover
- Finance Directors
- Operations Directors
Construction
Target:
- 20+ employees
- Relevant contractor categories
- Managing Directors
- Commercial Directors
Professional Services
Target:
- 10+ employees
- Specific professions
- Managing Directors
- Finance Directors
Each market can then receive more relevant messaging.
Segment by Insurance Product
Another approach is to build audiences around specific products.
Examples include:
- Fleet insurance prospects
- Cyber insurance prospects
- Professional indemnity prospects
- Commercial property prospects
- Contractors insurance prospects
This can make both targeting and sales messaging more precise.
Use Existing Customers to Identify Strong Markets
Your current book can reveal which industries deserve greater focus.
Compare:
- Premium value
- Claims performance
- Retention
- Profitability
- Cross-sell potential
One sector may generate higher premiums, while another produces stronger retention.
Use these findings to improve future targeting.
Build Lookalike Audiences from Strong Accounts
Suppose your best-performing commercial customers are:
- Engineering businesses
- 50 to 200 employees
- �5 million to �25 million turnover
- Multiple insurance products
You can identify other UK engineering companies with similar characteristics.
This creates a prospect market based on real customer performance.
Test Several Target Markets
There is no need to commit to one industry immediately.
Test suitable sectors such as:
- Manufacturing
- Construction
- Logistics
- Professional services
- Technology
Compare commercial results.
This can reveal where the strongest opportunities actually exist.
Measure More Than Response Rate
The industry producing the most responses is not necessarily the best target market.
Track:
- Qualified conversations
- Quote opportunities
- Policies won
- Premium value
- Claims performance
- Commission or revenue
- Retention
Commercial value should drive future targeting decisions.
Measure Results by Industry
Different sectors can perform very differently.
You may find that:
- Manufacturers generate larger premiums.
- Professional services convert more quickly.
- Logistics creates stronger fleet opportunities.
- Technology businesses produce more cyber opportunities.
Use this information to refine your target markets.
Measure Results by Company Size
Account size can influence:
- Premium value
- Sales cycle
- Number of stakeholders
- Conversion
- Retention
Smaller businesses may be easier to reach, while larger organisations can offer greater commercial value.
Analyse where the strongest balance exists.
Measure Results by Insurance Product
Different products can perform differently across the same target market.
For example:
- Fleet may perform strongly within logistics.
- Professional indemnity could perform better within consulting.
- Cyber may generate stronger opportunities within technology.
Product-level analysis can help refine future prospect lists.
Keep Refining Your Commercial Insurance Target Market
Targeting should evolve as more sales and customer data becomes available.
Your strongest market may become clearer through:
- Policies won
- Premium values
- Claims performance
- Retention
- Profitability
Use these outcomes to concentrate marketing resources on sectors producing genuine commercial value.
You can learn more about our Lead Generation for Insurance Providers services.
Summary
The best commercial insurance target market depends on the products you offer, your underwriting appetite and the types of accounts you want to win.
Potential sectors include manufacturing, construction, transport and logistics, professional services, technology, property, facilities management, hospitality and retail.
Industry should not be used alone. Combine it with employee numbers, turnover, premises, number of locations, fleet requirements and risk profile to identify stronger prospects.
Relevant Business Owners, Managing Directors, Finance Directors, Operations Directors and Risk Managers can then be added according to company size and insurance product.
By testing different industries and measuring policies won, premium value, retention and profitability, commercial insurers can gradually identify the target markets that deserve the greatest sales and marketing focus.
Frequently Asked Questions
Which businesses should commercial insurers target?
Potential target markets include manufacturing, construction, logistics, professional services, technology, property, hospitality, retail and other businesses with relevant commercial risks.
How should commercial insurers choose target industries?
Consider insurance products, underwriting appetite, company size, risk profile, premium potential, claims exposure and existing customer performance.
Should commercial insurers target businesses by company size?
Yes. Employee numbers and turnover can help identify businesses that match your preferred account size and likely premium potential.
Are multi-site businesses good prospects for commercial insurance?
They can be. Multiple locations may create additional property, liability, employee and business interruption exposures.
Who should commercial insurers contact?
Potential decision-makers include Business Owners, Managing Directors, Finance Directors, Financial Controllers, Operations Directors and Risk Managers.
Should insurers build separate prospect lists for different products?
Yes. Fleet, cyber, professional indemnity, property and other products can require different industries and decision-makers.
How should insurers measure target-market performance?
Track qualified opportunities, policies won, premium value, claims performance, retention and profitability across different industries and company-size groups.
Data & Lead Generation Services
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