95% Heavy Broker Users Satisfied with their Claims Experience, 2026 Vero SME Insurance Index Finds

The latest Vero SME Insurance Index — now in its 15th year — offers a timely snapshot of where Australian businesses stand, and where brokers can make the greatest difference. Across six key themes, the data consistently points to one conclusion: broker involvement leads to better outcomes for clients. Here’s what the Index means for you.

A two-speed economy is reshaping client needs

Nearly half of all businesses surveyed (47%) reported a decline in revenue over the past 12 months. Smaller businesses are bearing the brunt, with many in survival mode and cutting discretionary costs — including, in some cases, insurance coverage. 6 in 10 smaller businesses also reported premium increases in the past year. This pressure creates a clear opening for brokers to reframe their value: not as an added expense, but as a safeguard against greater and emerging risks.

Claims satisfaction tells the real story

When it comes to claims, broker involvement makes a measurable difference. 95% of heavy broker users are satisfied with their claims experience. Nearly half of all businesses (44%) say they would be willing to pay more for a better claims experience, with clear communication and a simplified process cited as the top reasons. This is a conversation brokers are well-positioned to lead.

Risk management is growing — but the gap remains

There are encouraging signs of progress. The proportion of businesses operating at the "ad hoc" end of the risk management scale dropped by 7% this year. But 8 in 10 businesses have still never conducted a formal risk analysis, and the majority remain at the early stages of risk maturity. For brokers, this represents a significant opportunity to step into a strategic advisory role — particularly for small and medium clients who often lack the time or structure to act without guidance.

Business continuity planning is the blind spot

Despite its importance, 42% of businesses have no Business Continuity Plan in place — and of those that do, most have never tested it. The primary barrier isn't cost; it's perceived irrelevance. Notably, broker recommendation ranked among the top motivators for businesses to develop a BCP, alongside contractual requirements. Simple, practical support from brokers could shift this significantly.

AI is coming — and clients are watching how brokers respond

Only 8% of businesses are actively implementing AI, but the appetite for exploration is growing. Clients are comfortable with AI in administrative tasks but resistant to it in high-stakes decisions. Brokers who demonstrate responsible, transparent AI use will be best placed to build trust as the technology evolves.

The 2026 Index reinforces what NIBA members already know: the broker relationship delivers real, measurable value.

Read the 2026 Vero SME Insurance Index here.