2020 Small Business Risk Report
Hanover Small Commercial

Digital servicing

Make it easy 

In our survey, small business owners reported solid overall satisfaction rates when it comes to the servicing of their insurance coverage. However, they didn't report the same level of satisfaction for their online experience.

76% reported that viewing and paying bills online is of high importance

Requesting certificates of insurance, and viewing and downloading policy documents are similarly important capabilities.

digital servicing chart


Dependent on independents

Our report shows that the value placed on digital self-service offerings does not extend to the purchasing experience. Instead, almost 7 in 10 small business owners reported that having an independent agent do the research and recommend a carrier and product directly, as opposed to a self-researched purchase, is a very or extremely important aspect of their insurance purchase.


agreed that the advice from an agent is critical to their insurance decisions


reported buying their insurance online


The benefits of a single carrier

Facing higher rates and increasing risk. small business owners have begun taking steps beyond just understanding their needs, and are more actively seeking out their options for protection. This includes an increasing awareness of the benefits of having just one carrier. And the right carrier is important — 76% place a significant amount of trust in the reputation of the insurance company.


believe it is very or extremely important to have most 
of their insurance provided by a single carrier...

...yet, at least

have insurance policies from two or more carriers


With nearly half of respondents reporting having policies with multiple carriers, this presents an opportunity for independent agents to provide convenience along with value.

Small business owners aren't looking to technology to replace agents — they're turning to tech to make their insurance experience as a policyholder easier. The more agencies can provide digital solutions to allow self-service for routine transactions, the more those agencies can focus on providing their expertise to advise their clients where it is truly needed.

Erin Fenlon, Vice President Service Operations