SMB vs. Enterprise Insurance: Why It Matters

Regardless of size, shape, location, or industry, all businesses have one thing in common: they need insurance. From employee mishaps to cybercrime to lawsuits, running a business carries a lot of risk, and insurance is a vital tool in preventing potentially ruinous financial loss.

While all businesses need insurance protection, there’s no single product that will work for every company. Even within the same industry, SMBs and large enterprises will likely need different insurance products to best meet their needs. For businesses that offer B2B insurance, this means that serving both enterprise and SMB customers will most likely require offering multiple products of the same type.

In this blog, we’ll discuss how insurance needs differ between enterprise and SMB companies, and why SMBs need insurance products designed specifically for them.

Coverage Needs

A large corporation faces very different risks than an SMB, across nearly all risk categories. This can make it difficult for a single insurance product to effectively protect both an enterprise and an SMB.