Simply Business has expanded its workers’ compensation insurance offering for small businesses by partnering with workers’ compensation provider Employers.
With this expansion of its offering, Simply Business can digitally quote and bind workers’ compensation policies for more than 300 different types of small businesses across all eligible states, the companies said in a Wednesday (July 17) press release.
“Employers is known for delivering comprehensive workers’ compensation solutions that help small business owners safeguard their businesses and employees,” Samantha Roady, U.S. CEO at Simply Business, said in the release. “Through their extensive appetite and national footprint, we’ll be able to effectively serve more small business customers across various industries.”
The addition of Employers expands Simply Business’ panel of workers’ compensation providers, according to the release.
By working with these providers to offer tailored and affordable solutions for small business owners, Simply Business aims to help those who don’t know where to purchase the coverage they need or find the coverage prohibitively expensive, the release said.
The company’s technology platform, which can be complemented by guidance from licensed insurance agents, allows small business owners to compare quotes from more than 20 carriers, customize their coverage, and purchase and access their policies online, per the release.
“We’re excited to partner with Simply Business, which shares our mission to provide cost-effective insurance to America’s small businesses,” Chris Champlin, vice president of digital sales at Employers, said in the release. “Simply Business’ intuitive platform will enable us to meet more customers where they are and help them secure the workers’ compensation coverage they need.”
The insurance sector is undergoing a digital makeover, with InsurTech startups leveraging artificial intelligence (AI), big data, and other advanced tools and technologies to transform how people choose and purchase insurance, PYMNTS reported in April.
Between 2022 and 2023, the proportion of consumers shopping online for insurance surged from 22% to 27%, while those turning to agents dropped from 42% to 35%, according to a research report from TransUnion.
The insurance industry has also been fast to leverage AI, as the industry already operates in a technology sophisticated sector with deep libraries of operating data.
The post Simply Business Expands Workers’ Compensation Offering With Employers Partnership appeared first on PYMNTS.com.
