The Travelers Cos. Inc. announced it will offer insurance directly to UK small businesses with fewer than 10 employees and less than £2.5 million ($3.7 million) in revenues.
The online platform will initially be available for office businesses, such as consultants, web designers and recruiters. Insurance coverage will include business contents, public and products liability, employers’ liability and business interruption.
Travelers said the platform “uses clear and understandable language and simplifies the insurance-buying experience for small business owners.”
It provides access to dedicated customer service and 24/7 claims reporting, as well as information on topics relevant to small businesses, including risk mitigation and human resources, the company said, noting that customer support is available via call center and web chat.
“We’re excited to provide the UK small business market with a new solution that caters to the growing number of entrepreneurs who prefer to conduct business online,” said Matthew Wilson, chief executive officer of Travelers Europe.
“We have traditionally focused on providing insurance to medium- and large-sized businesses in the UK through the independent broker channel, and we remain committed to that model. Our online platform enables us to bring our knowledge and expertise to a new customer segment in this market,” Wilson added.
In the coming months, Travelers plans to extend the offering to shop businesses, such as convenience stores, bike shops and florists. Additional coverage will also be made available over time.
About Travelers
Travelers has operated in Europe for decades in both the general insurance market and through Lloyd’s. Travelers Insurance Co. Ltd. offers business insurance, bond and specialty insurance and risk management services. Travelers Syndicate 5000 at Lloyd’s underwrites specialist and complex business classes, including marine, global property, power and utilities, accident and special risks, aviation and energy.
Source: The Travelers Cos. Inc.
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