SMEs shake up business models but insurance policies remian neglected

Vero surveyed 1500 Australian SME business owners/decision makers to gain insight into how the pandemic has affected their business operations, insurance purchasing behaviours and perceptions of the insurance industry.

Since last year, there has been an increase in the number of SMEs making proactive changes to their business such as changing their model, product or service offerings or moving to remote or online operations,with many considering further alterations.

Vero Head of Commercial Intermediaries, Anthony Pagano said brokers should work with SMEs to revise their insurance to ensure it suits the changing circumstances.