small commercial lines News

Direct Sales of Small Business Insurance Poised to Grow to $12B by 2025: Novarica

Over the past decade, selling small commercial insurance directly online to customers has gone from an outlandish idea to a reality. In a new report, research and advisory firm Novarica projects significant growth in the market as insurtechs and major …

Online Shopping Site EverQuote Adds Commercial Insurance Markets

Massachusetts-based online personal insurance marketplace EverQuote has launched a commercial lines marketplace in a new partnership with the technology platform provider Bold Penguin. EverQuote said it will use Bold Penguin’s terminal and exchange infrastructure to accelerate its path to market …

Young Small Businessowners Don’t Like Insurance Agents. Uh, Not Really.

Patricia Ross, Raphael Strumlauf and Kate DeNeveu each have at least one thing in common: They’re generally happy with their business insurance. Each owns a business at the downtown pedestrian mall in Charlottesville, Va. They’re all in their early ’30s …

Digital Commercial Lines Broker Embroker Raises $28 Million

Digital insurance broker Embroker announced its $28 million Series B funding round. Embroker said it will use the funding to scale adoption of its insurance management platform, data-driven service offering, and proprietary insurance policies. The round was led by Tola …

Small Businesses Want More Self-Service Workers’ Comp Tools: Survey

Nearly a quarter (23 percent) of America’s small business owners believe workers’ compensation carriers could improve their customer service if they offered more online or self-service tools. Better communication and faster claims resolution also topped the list of small businesses’ …

Could Allstate’s ‘5 Minute’ Small Business Policy Transform Commercial Lines Sales?

At a time when technology startups are also targeting the small commercial insurance market, giant Allstate has debuted a hi-tech business insurance quoting platform that it says makes it possible for small business owners to buy a policy in about …

New Chubb ‘Off to Good Start,’ Says Greenberg While Assessing Merger, Competition, Agents

The new Chubb reported its first quarter results since the Ace Ltd. deal to acquire Chubb closed in January and, according to the man who spearheaded the giant merger, the combined firm is “off to a good start” with “strong …

Why Small Commercial Lines May Not Be So Bright for Agency Carriers

As more small business owners become comfortable buying everything including insurance online, exclusive agent carriers will gain an advantage over independent agency carriers in the highly-fragmented and increasingly competitive small commercial lines insurance market, according to a new report. Overall, …

Agents Who Understand Customers’ Businesses Boost Commercial Insurers: J.D. Power

Small commercial lines insurance customers most value having an insurance agent or broker who completely understands their individual business and helps them assess and manage their risk. The highest-ranked small business insurers deliver on both of these metrics for 60 …