SME Insurance Index

Insurance with insight

SMEs shake up business models for COVID but is their insurance up-to-date?

Vero SME Index COVID-19 research reveals nearly two-thirds of Australian SMEs have altered their business models as a result of COVID-19, yet, only around one-third of those have made changes to their business insurance.

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Understanding the impacts of COVID-19 on Australian SMEs

In March, we launched the ninth Vero SME Insurance Index report. In the same week the COVID-19 virus was declared a global pandemic and business as we know it changed. 

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Economic impacts on business insurance

Uncertain economic conditions have the potential to impact insurance behavior and SMEs decision making around purchasing it.

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Transparency and trust

In a sceptical environment, broker transparency with SMEs can help to build trust.

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SMEs understanding of insurance

Many SMEs are still confused about various aspects of insurance and have indicated that there’s opportunity for brokers to assist them with providing more clarity in this area and to demonstrate expertise in advice on their respective industry.

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Changes in SME behaviour and insurance sentiments

Increased broker proactivity is driving more positive sentiment. In a time in which constant change is the norm, the SME Index’s top line measure of broker usage has remained relatively stable.

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Help take the risk out of business

Enhance your client relationships by providing access to industry specific risk information and checklists through the new Vero Risk Profiler Tool to help inform and mitigate their business risks.

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