The majority (2/3) of SMEs would like to be able to obtain information via online channels. Many Swiss SMEs are open to buying more insurance online - more than their peers in other countries (23% global average vs 36% in CH).
While face-to-face meetings are important, there is also growing interest in buying insurance over intermediaries’ websites.
The survey reveals that, contrary to conventional wisdom, the likelihood of an SME shifting to digital channels in the future is strongly influenced by the characteristics of the insurance purchaser and primarily driven by age, not the industry or size of the business. Younger purchasers are more likely to use digital channels.
A similar pattern emerges when looking at how long the purchaser has held business insurance. Adoption rates for digital engagement are higher among those who are less experienced or newer to the industry. There is minimal variation between industrial sectors in SMEs’ use of websites for insurance transactions.
Of all the surveyed countries, Switzerland indicated the greatest desire for digital purchasing in the future.