Positioning yourself as the go-to Adviser for SMEs

Dave Wheatley, Group Protection Head of Regional Accounts at Aviva, shares how advisers can build lasting SME relationships with the right tools and support.

According to Swiss Re’s Group Watch 2025, 15.7 million people are now covered by group risk products, a 3.7% year-on-year increase [1]. This growth reflects rising employer investment in employee wellbeing and financial resilience. While employee benefits continue to evolve, one market remains significantly underserved yet full of potential: small and medium-sized enterprises (SMEs).

For advisers, this presents a golden opportunity, not only to grow their business, but to make a meaningful impact on the resilience and wellbeing of the UK’s economic backbone.

Why SMEs matter more than ever
SMEs account for an estimated 5.48 million businesses in the UK, employing millions and contributing significantly to GDP [2]. Yet, Swiss Re data shows that only 1.56% of UK SMEs have adopted any form of group protection. This gap is not due to a lack of need, but often a lack of awareness, time, or tailored support.

Here’s why advisers should prioritise this sector:

• Untapped market potential: With millions of SMEs across the UK, many still without any form of protection, there’s a significant and largely untapped opportunity to support this vital segment of the economy
• Long-term growth: SMEs often start small but scale quickly. Advisers who build early relationships can grow with them.
• Loyalty and trust: SME owners value personal, reliable service. Advisers who deliver can secure long-term, referral-rich relationships.

Understanding SME-specific needs
To serve SMEs effectively, it’s important to understand their unique challenges:

• Flexibility: SMEs need scalable solutions that grow with their business.
• Cost sensitivity: Budgets are tight, so value for money and a clear return on investment (ROI) are essential.
• Time constraints: Business owners are busy, simplicity and efficiency are key.
• Education gaps: Many are likely to be unaware of the benefits, or even the existence, of group protection. Often awareness happens at an event of claim when it’s too late.
   

Raising awareness among SME clients

Reaching SMEs takes more than just a good product, it requires a smart, relationship-driven approach. Here are six practical strategies to help you connect with SME owners and build lasting partnerships:

1. Tap into local networks
   Build credibility by partnering with local business groups, networking events, and professional service providers such as accountants, solicitors, and HR consultants. These connections can introduce you to SME decision-makers. Once you’ve identified the right contact, focus on nurturing a genuine relationship. Existing clients can also be a valuable source of referrals.
2. Embrace a multi-channel strategy
   Use a mix of digital and local outreach to stay visible. Share insights, case studies, and explainer content on LinkedIn, email newsletters, and your blog. Ensure your website clearly outlines how you support SMEs. Get involved in your community through local sponsorships or volunteering, these efforts help build trust and recognition.
3. Tell stories that resonate
   Bring the value of protection to life with real-world examples. Whether it’s a business that thrived thanks to cover or one that struggled without it, stories make the message relatable. Support your conversations with facts, testimonials, and case studies to build trust and credibility. Always ensure client confidentiality is respected, use anonymised details or obtain consent before sharing any identifiable information.
4. Offer free protection reviews
   A no-obligation audit of an SME’s current benefits or risk exposure is a great way to start the conversation. Be patient, many SME owners need time to build trust, and protection might not be their top priority straight away. Budget constraints, timing, or simple inertia can delay decisions. Offering example costings and scenarios helps make the benefits more tangible.
5. Start with accessible entry points
   Some SMEs are unaware of group protection altogether. Begin with Death in Service, the most familiar and widely adopted product, according to Swiss Re. Use it as a foundation to introduce broader protection options, such as income protection or critical illness cover, which can help support employee retention and wellbeing.
6. Lead with the business case
   Show how group protection supports business continuity, reduces absenteeism, and boosts employee loyalty. Position it as a strategic tool for attracting and retaining talent in a competitive market. The key is consistency, keep sharing helpful, relevant content so you’re top of mind when they’re ready to act.

Final thoughts

SMEs are the backbone of the UK economy. Financial advisers have a vital role to play in helping them build resilience and protect their futures. At Aviva, we’re committed to supporting advisers with a suite of dedicated SME propositions designed to make a real difference—from streamlined onboarding and admin tools to competitive pricing, dedicated service teams, technical support, and CPD-accredited training.

These resources empower advisers to connect more effectively with SME clients, understand their unique challenges, and deliver meaningful value. By embracing these tools and insights, advisers can build lasting relationships and unlock the full potential of a resilient and rewarding SME client base.

Sources

1] Swiss Re Group Watch 2025, March 2025

2] Business population estimates for the UK and regions 2024: statistical release - GOV.UK Contains public sector information licensed under the Open Government Licence v3.0.

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