Topdanmark among the first to introduce digital small business insurance

Topdanmark , a Denmark-based general insurer with over 100,000 agricultural and business customers, is among the first to introduce online sales of insurance to business customers.

On the company’s site, for example, shoppers can now buy packages with all the insurance that is needed when running a business, including occupational injury, legal aid, and liability insurance, and then it is possible to purchase, for example, cyber insurance.

“After a few clicks, you have active coverage, and we expect it to become a game-changer in the business market. It may sound banal that we now sell online, but it has not been widespread in this country, especially not for business customers . We must and will change that. We find that smaller companies would rather spend time running their business and serving customers rather than administrative tasks. Now they can buy insurance at exactly the time of day that suits them best.” – Monica Diaz, Executive Vice President for Agriculture & Business in Topdanmark.

For now, Topdanmark is targeting companies with up to five employees and industries where they typically work in an office, e.g. consultants, accountants, freelancers, etc. “It is a target audience that already does most of it online.”

“We are acting on an obvious need. Some of the busiest people in Denmark are self-employed and less self-employed, and the corona pandemic has accelerated our digital buying behavior and created new expectations for what can be done from the computer. The recipe for success is to make it easy, for example by making choices for the customer in advance. This requires that our solutions are intuitive and transparent. We now have to gain more valuable experience before we really roll it out to more industries and company types.” – Monica Diaz.

Even though the sale takes place online, there is still the opportunity for advice. During the sales flow, customers can indicate that they want to be contacted by Topdanmark’s advisers.

Bottom Line: The vision is that 1 in 4 business customers in this target group will buy their insurance online within a few years.