Small Businesses Prefer to Work with Tech-Savvy Insurance Carriers According to EMPLOYERS National Small Business Poll
Although expectations for online tools and services are strong, 31 percent of small business decision-makers feel no insurance company is tech-savvy; 81 percent of small businesses still prefer to buy insurance through insurance agents
Reno, Nev. – January 25, 2011 – The majority of small business decision-makers across the country (53 percent) say it’s important to have business insurance policies with an insurance carrier they consider tech-savvy, according to the Small Business Opinion Poll commissioned by EMPLOYERS®, America’s small business insurance specialist®. However, the national poll also indicates nearly one-third (31 percent) of small business decision-makers don’t consider any insurance companies tech-savvy, revealing a significant opportunity for insurance providers to positively differentiate themselves in the market.
Although the latest EMPLOYERS Small Business Poll reveals that small businesses prefer to work with tech-savvy insurance carriers, 81 percent said they still want to purchase their business insurance through their insurance agent. Much of what business decision-makers want from their tech-savvy insurance company is related to online policy management and payment tools, rather than the consultative services they would receive from their insurance agent.
EMPLOYERS Small Business Poll Snapshot: What online services are important for insurance companies to provide small business policyholders?
• 59 percent indicate online customer service is important
• 50 percent desire online insurance quotes
• 55 percent want the ability to manage policies online
Just as small business decision-makers desire online services and tools from their carriers to make managing insurance policies easier, they also leverage online technologies to gain an edge for their businesses. According to the EMPLOYERS Small Business Poll, more than half (52 percent) of small businesses report they have at least one social media account and more than a third (37 percent) consider themselves active social media users.
EMPLOYERS Small Business Poll Snapshot: What kind of social media accounts do small businesses maintain?
• Facebook: 45 percent
• LinkedIn: 18 percent
• Twitter: 10 percent
• YouTube: 10 percent
About the Small Business Opinion Poll
The survey commissioned by EMPLOYERS sampled 500 owners or managers of small businesses with 1-99 employees. Data was collected through telephone interviews during the period June 24 – July 1, 2010 at the 95% confidence level. The sample is stratified across business size and industry grouping, including manufacturing/construction, transportation/ communication, wholesale/retail, financial services, or personal/professional services businesses. The survey was conducted by Infogroup | ORC.
About Employers Holdings, Inc.
Employers Holdings, Inc. (NYSE: EIG) is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select small businesses engaged in low-to-medium hazard industries. The company, through its subsidiaries, operates coast to coast. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Additional information can be found at: http://www.employers.com.
# # #
Copyright © 2011 EMPLOYERS. All rights reserved. EMPLOYERS® and America's small business insurance specialist® are registered trademarks of Employers Insurance Company of Nevada.
Media – Ty Vukelich, Vice President, Corporate Marketing, (775) 327-2677
Analysts – Vicki Erickson, Vice President, Investor Relations, (775) 327-2794