The digital landscape of small business insurance

The internet has enabled convenient shopping in personal lines insurance. As a result, shoppers enjoy fast, free quotes and access to free advice via social media platforms, while insurers combat product commoditization as the do-it-yourself shopper can more readily compare on price. But small business is a fragmented business that is neither compulsory (exceptions apply), nor easy to buy, and internal innovation within the insurance industry isn’t all that different from 2011.

This paper focuses on the landscape of digital, direct, small business insurance players in the US, providing an overview of new entrants, analysis of distribution and marketing strategies, failure stories, and most importantly, a future outlook that is rooted in today’s actions.