COVID-19 has negatively impacted many businesses and industries over the course of the past 7 months. Despite the unusual times that we are all learning to adapt to, there is one industry that has experienced undeniably huge growth: the small commercial insurance sector.

This sector includes app based agencies and platforms – once of the largest driving factors that lead to such growth has been the transition from analog to digital interfaces. You’d be hard-pressed to find a company still using file cabinets and paper filing practices. Technology plays a huge role in the new age of insurance, and these new hybrid agencies are already 10 steps ahead. One of the many assets these newer, small commercial insurance agencies bring with them is the ease and organization of the cloud. Having a large portion of their platform available online makes it easier for most policyholders to handle their processes without waiting or calling several representatives. An important trait within these hybrid agencies is their efficiency and agility – their size and structure makes them nimble enough to pivot directions swiftly to cover client needs. These traits also give them a clear upper hand in growth and acquiring new clients, as being on the web gives them an undeniable footprint in cyber terrain.

As a business owner, this is also important to take note of. If you’re not getting the services, care, or accessibility that you need to be most effective, newer options are always entering the market. As the industry moves forward, each new carrier is able to offer a more user-friendly approach to managing your insurance policies. If you’re thinking it may be time to make a switch to someone on the cutting edge, we’d be happy to review your situation and point you in the right direction.

To view the full report, follow this link: https://www.insurancejournal.com/research/research/unlocking-big-growth-in-small-commercial/