A significant portion of the small commercial insurance market is ready to embrace direct and online sales within the next five years, according to “Direct Online Small Commercial Insurance: Preparing for the Inevitable,” new report from Novarica.
Similar to established trends in personal lines, buyer sentiment among small commercial customers seems to be moving toward a price/convenience value proposition, according to the report. “The only thing missing is billions of dollars in advertising to make direct purchasing seem more ‘normal,’ but that’s just a matter of money and time,” writes Matthew Josefowicz, report author and a managing director at Novarica.
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