For the purposes of this report, online SMEs have been defined as those that generate over half of their business revenue through the internet. SMEs that fall into this category share a set of unique characteristics, which need to be taken into consideration by insurance providers targeting them.
Inform yourself on the distribution channels and platforms preferred by online SMEs.
Examine the purchase journey taken by online SMEs in order to better capture business from this sub-segment.
Gain insight into the unique characteristics of online SMEs and how to best target them based on these characteristics.
Which distribution channels and platforms do online SMEs tend to use?
Which activities do online SMEs undertake before purchasing insurance?
Which sources of information do online SMEs use to find an insurance provider?
Online SMEs are more likely to use technology to conduct business as well as social media to promote their business.
Online SMEs are in general more concerned about business-related risks than their peers in the wider market.
Online SMEs prefer going directly to an insurer for their insurance needs, instead of talking with a broker.