Run Time: 25:03
in On Point, Podcasts

Minding the Gap in Small Commercial

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Some 30 million small businesses drive the U.S. economy. And, back in 2014, Insureon was one of the original insurtechs launched to serve small businessowners who wanted to buy coverage online. It was an opportunity then, but it's even more so today for online brokers -- and the pandemic is hastening the shift, as detailed on this recording by Jeff Kroeger, Insureon's chief commercial officer. Nearly four of 10 buyers are sole proprietors, independent contractors or gig economy workers. But last year Insureon saw a trend in average account size, as measured by employee counts or revenue. The market size for online sales of small business was $2.7 billion in 2020 and "there's a sense it could grow to $12 billion by the end of 2025," Jeff says. Viable digital agencies should meet those needs - but today there's a gap. Who will fill it?

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