SMEs are the backbone of the western economy. They surround us everywhere we go. It is the bakery down the street, the Bed & Breakfast you stay in your vacation, your tax advisor, your doctor or the home renovator you call to set up your new kitchen. But each year, hundreds of small business owners end up closing their doors due to everything from fire damage to vandalism. Many of these incidents occur because these businesses are not covered by small business insurance.
For Allianz, SMEs are almost a blind spot, claiming only 5 % as its market share. Not anymore: We started a SME Journey at the GDF with the aim to make SME insurance services faster to develop, easier to sell, and smoother to use and manage leveraging on a globally harmonized coverage and risk model. A multi-national and cross-functional team from six Allianz entities created an end-to-end experience from underwriting to claims to give life to Smart SME, which is how we call the innovative digital solution.
With Smart SME, the days of receiving a lengthy and cryptic policy, or waiting days to get a quote will be over. Getting a quote will only take a few clicks, filing a claim will require no paperwork, and policies will be simplified and easily accessible online.
SmartSME User Journey: Easy to understand and transparent needs assessment
For us at Allianz, Smart SME is not only an approach to increase our market share with small and micro enterprises. It’s also a major step in the direction of harmonized business models and products: By making the insurance offering simpler and understandable and relying on state-of-the-art group platforms, Allianz can capture a larger share in a rapidly growing market segment.
Stay tuned for more, we are currently testing pilots and will keep you posted!
In case of questions, get in touch with Benedikt Kramps, Julian Taeuffenbach or Ron Kreitmair to learn more about our solutions for small and micro enterprises!
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