Small and medium-sized businesses (SMEs) are the lifeblood of the economy, accounting for 99 percent of all companies in the UK today. Efficiency plays a key part in how these businesses serve customers and operate daily.
At Capco, we are always looking for ways to solve everyday problems through digital innovation and competitive disruption. We believe, that in today’s highly varied and fragmented business landscape, financial services firms must come together to support the backbone of the economy. Download this article to read how Hiscox, FreeAgent, and Instanda are creating healthier ecosystems for the SME market by doing just that.
1. Partnerships with non-traditional insurance players are providing new digital efficiencies for SMEs
2. The power of financial transactional data will drive more data-driven insight intervention and insurance propositions in the future
3. Multi-product holdings within insurers remains low, but data sharing could change this
4. Open Finance may not fully deliver on its potential to improve customer outcomes if it is treated as a regulatory box-ticking exercise by insurers.
For more information about how we are helping insurers and other financial services firms better support SME customers, contact Matt Hutchins, UK Partner & Head of Insurance at Capco.