Last updated on April 20, 2014 at 17:20 EDT

Will Business Owners Buy Insurance Online?

March 28, 2013

PLANTATION, Fla., March 28, 2013 /PRNewswire/ — Insurance companies such as Geico and Progressive started selling personal insurance online over a decade ago. So is it safe to assume that business insurance can also be sold online?

(Photo: http://photos.prnewswire.com/prnh/20130328/FL84640 )

Among the agencies exploring this new endeavour are Hiscox, Apogee, Setnor Byer Insurance & Risk, and a few others. Plenty of insurance agencies offer business insurance, but very few can offer clients an online quote.

Just because the tool is out there doesn’t mean business owners will use it. Getting a quote for business insurance is significantly more complicated than obtaining a personal quote. The agencies that are offering business quotes are approaching it quite differently.

Hiscox is targeting small business with a page on their site dedicated to explaining the various types of insurance coverage small business owners need. Apogee lists the types of insurance they can quote instantly and features a video tutorial of how to use their quoting tool. Setnor Byer Insurance & Risk’s tool lists all the instant quotes they offer including Property and Liability Quotes, Professional Liability Quotes, Business Auto Quotes, and many more.

The introduction of this tool to Setnor Byer’s website also created the need for a complete redesign. Anita Byer, President of the Full-Service Independent Insurance Agency explains why the redesign became necessary.

“When we created this tool, we realized the possibility to build a full-service online marketplace. If clients can get quotes online they should be able to service their policies online as well. Their experience is what’s important so we’ll do whatever we can to make it convenient.”

If successful, online quotes for business insurance could be a big game changer. It will be interesting to see how many more agencies begin offering business quotes online.

If you’d like more information about this topic, or to schedule an interview with Jordan Price, please call Jordan at 954-888-1277 or email at Jordan.Price@setnorbyer.com

SOURCE Setnor Byer Insurance & Risk

Source: PR Newswire