Travelers targets UK small businesses
The Travelers Companies, a provider of property and casualty insurance, is set to offer insurance directly to UK small businesses.
The policies will cover businesses with fewer than 10 employees and less than £2.5 million in revenues.
An online platform will initially be available for office businesses, such as consultants, web designers and recruiters. The platform offers a simplified experience for insurance-buying, with information on topics relevant to small businesses, including risk mitigation and human resources.
Travelers said that insurance coverage will include business contents, public and products liability, employers’ liability and business interruption.
Matthew Wilson, chief executive officer of Travelers Europe, said: “We’re excited to provide the UK small business market with a new solution that caters to the growing number of entrepreneurs who prefer to conduct business online.
“We have traditionally focused on providing insurance to medium- and large-sized businesses in the UK through the independent broker channel, and we remain committed to that model. Our online platform enables us to bring our knowledge and expertise to a new customer segment in this market.”
