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{"id":8047,"date":"2019-03-06T18:20:18","date_gmt":"2019-03-06T18:20:18","guid":{"rendered":"https:\/\/sviaccelerator.com\/?p=8047"},"modified":"2019-03-06T18:47:19","modified_gmt":"2019-03-06T18:47:19","slug":"an-on-demand-world-smbs-demand-on-demand-insurance","status":"publish","type":"post","link":"https:\/\/sviaccelerator.com\/an-on-demand-world-smbs-demand-on-demand-insurance\/","title":{"rendered":"An On-Demand World: SMBs Demand On-Demand Insurance"},"content":{"rendered":"
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\nThe insurance industry has long struggled to effectively serve <\/span>Small-Medium Business (SMB)<\/span><\/a>. The cumbersome and inefficient process of buying business insurance doesn\u2019t suit the needs of SMB\u2019s, nor does it suit the expense structure of insurers and brokers. Consequently, affordable and convenient insurance options for SMB\u2019s are limited.<\/span><\/p>\n

When reviewing the options for SMB\u2019s, it seems most insurers are focused on coverage rather than convenience. It\u2019s a natural instinct – coverage is what they do. But, do most customers really care if they have $150,000 of Valuable Papers coverage instead of $100,000? Coverage is not necessarily customer-centric.<\/span><\/p>\n

Although there are a number of options now for SMB\u2019s to buy insurance online, it\u2019s not actually that much easier. There are still lengthy applications to complete, small underwriting \u201cboxes\u201d that delay quotes, complicated proposals to review, wait-times for policy documents and archaic payment options. The same cumbersome buying process has simply been moved to the digital world. Almost everything an SMB needs to operate can be purchased instantly. If a small contractor needs equipment for a job, the owner can simply drop by Home Depot on the way to the office. Likewise, if a consultant needs data to complete an analysis, a few minutes researching on Google will find numerous sources that sell data subscriptions. Time for lunch? Delivery can be arranged with practically every restaurant in the city.<\/span><\/p>\n

So why can\u2019t insurance be purchased the same way– \u00a0instantly, as needed, and without any hassle?<\/span><\/p>\n

On-demand insurance will do just that! In fact, the first product from <\/span>Slice<\/span><\/a> for SMB\u2019s will be cyber insurance. It\u2019s not just a policy, it\u2019s a program. Even with insurance, claims cost money in terms of deductibles and lost time. The cyber product rolls together insurance and loss prevention to minimize \u201cTotal Cost of Risk.\u201d The result: fewer claims, fewer deductibles, less time spent on insurance and lower premiums for SMB\u2019s.<\/span><\/p>\n

Key things to look for with \u201cOn-Demand\u201d Insurance:<\/b><\/p>\n