Small and mid-sized business trends for insurance

Customer expectations are changing rapidly. In fact, according to Accenture’s June 2020 Consumer Pulse Survey 67% of consumers expect companies to “build back better” by investing in longer-term, sustainable and fair solutions. But it isn’t just the demands of consumers weighing on business owners. The same survey found that 53% of employees who never worked from home before the COVID-19 pandemic, now plan to work from home more in the future.

To meet these changing expectations, it is imperative that businesses of all sizes embrace technologies that adapt strategies that allow them to be agile. But deciding which digital technologies is increasingly difficult as we enter this post-digital world. Shortly before the arrival of COVID-19, Accenture, in conjunction with Chubb, conducted a survey of 1,350 small and medium sized business leaders around the globe to identify key drivers and trends impacting those businesses. We identified 4 main trends affecting SMEs that all business should understand as they build out their short and long-term strategies.

With opportunities, so comes emerging risks. Business owners need to not only understand how to determine the right investments to prepare their staff, operations and business models for the future, but also the emerging risks and vulnerabilities that come with that, and what can be done to mitigate this effectively. Read the full report to discover what can be done to embrace the digital shift, and protect businesses from new found risks.