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Conning: Digital Is Key in Small Business Insurance

The small business insurance market is increasingly focused on digital marketing and distribution capabilities, which may favor larger carriers, according to a new study by Conning...
November 16, 2016

The small business insurance market is increasingly focused on digital marketing and distribution capabilities, which may favor larger carriers, according to a new study by Conning.

The Conning study, “The Small Business Market: Evolution in Distribution” reviews the small commercial insurance marketplace, including carrier market share, drivers, and projections. The study also analyzes distribution issues and strategic directions for the market, through independent research and executive market surveys.

“As the market pursues its digital future, both in support of agents and in direct distribution, larger insurers have been slowly but steadily taking share from small carriers in the market,” said Steve Webersen, Head of Insurance Research at Conning. “Large insurers now control more than sixty-four percent of the market, but none has more than about six percent of share at this time.”

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