SME Property Owner Insurance Risks That Go Beyond eTrade
In the diverse world of small-to-medium-sized enterprises (SMEs), no two businesses are the same – and their insurance needs reflect that complexity. From start-ups to established businesses with dozens of locations, SMEs can have widely different exposures – take landlords, for example, who may have a range of trades and businesses occupying their portfolio and residential properties. While businesses of varying industries and sizes are a hallmark of the SME landscape, they also present unique challenges when it comes to insurance protection.
Much of SME insurance business in the UK today is e-traded via digital platforms. E-trading offers convenience, efficiency and speed – and can be ideal for brokers looking to protect smaller clients who have standard insurance needs. However, not every SME fits neatly into this box. In many cases, what initially appears to be a simple risk can quickly evolve into something that demands a more hands-on approach. In these cases, an SME benefits from the guidance of a skilled underwriter who understands the client’s commercial property insurance or commercial landlord insurance needs.
When SME property owners’ risks fall outside eTrade
This is especially true in the case of commercial property owners needing insurance for a complex ecosystem of tenants. One property might house a graphic designer, a window and door manufacturer, a body shop, a paper products wholesaler, a motor trader, a furniture warehouse, and a commercial bakery – all in neighbouring units. While digital trading is a powerful tool, it cannot always fully account for the diverse range of specifications and exposures within such a set up.
“This is where our expertise and adaptability at Travelers can offer great value,” said Stuart Mosley, UK SME New Business Manager at Travelers Europe. “We understand that SME risk can be complex, so we offer brokers a choice in submitting business manually or through e-trade. A two- or three-location commercial property risk may easily pass through the e-trade process. But when things get more complex – due to multiple tenant types, unusual business operations, or a property with bespoke needs – Travelers can bring in an experienced underwriter to tailor suitable cover to the risk.”
How Travelers works with brokers on complex risks
When brokers have flexibility in how they submit business, they gain improved operational efficiency and also ensure their SME clients get protection that’s appropriate and responsive to their specific circumstances. Since those circumstances will change over time, the SME’s cover should be able to evolve too.
“One of our key differentiators at Travelers is our commitment to long-term partnerships,” said Jonathan Forster, SME Distribution Director at Travelers Europe. “As an SME adds new locations, expands its service offering, or changes its operating model, its insurance needs can shift dramatically. We are able to adapt alongside these businesses, offering the flexibility and scale that many insurers struggle to provide. This means that a small start-up can be confident it will have the support it needs if, and when, it becomes a more complex enterprise in the future.”
Why it pays to look beyond the platform
Being a trusted SME insurance partner means providing support when and where a client needs it. That’s why in addition to underwriting flexibility, Travelers offers a robust claims proposition. Regardless of an SME’s size or premium, every SME insured through Travelers has access to the same high level of claims support.
Travelers has also invested in its regional presence, with underwriters based around the UK who provide on-the-ground support to brokers and their SME clients. This regional engagement ensures that brokers and their clients have access to professionals who understand the local context and market dynamics. Brokers can contact underwriters via direct phone numbers and email addresses to make communication easier if issues arise.
For many SMEs, one-size-fits-all solutions are increasingly inadequate. Brokers can gain peace of mind when working with an insurer that can handle everything from straightforward e-trade submissions to multi-faceted, high-exposure risks. Further, having a long-term commitment with an insurer can help clients trust they will be protected as their businesses change in response to evolving needs.
“Whether the SME is a one-location furniture warehouse or a multi-site operation with a range of tenants, our proposition is the same,” Forster said. “We offer knowledgeable underwriting, dependable claims support, and the flexibility to grow with a business every step of the way.”
Questions about how Travelers can protect your SME property owner clients? Learn more about Travelers insurance for SME Property Owners or contact our team.
