Business Insurance How do insurance company increase their service to small enterprise?

[Richee84]

In any business, insurance policy should be one of the common practice of the company as it is a very good way to control and manage risk. Most of the small scale businesses in the developing countries like Nigeria don't know the importance and value of insuring their business against unforeseen circumstances. From my findings I discover that, it's s only the large scale enterprises that get their businesses insured against risk. There is a lot of gap between the small scale business owner and the insurance company and I think the insurance company are not doing enough to close that gap. They focus more on the large scale enterprises forgetting the profit they can make if they make impact bringing the small scale business on-board. I believe if the insurance company can sensitize the small scale business owner on the advantages of insuring there business, more small scale business owner will be will to get their business insure and this will boast the insurance industry and provide more jobs for the unemploy youths.
How do insurance company breach this gap between the small scale business and bring them on-board?

 

[Mandy96]

Insurance companies do make use of different strategies to extend their policy product to their customers especially when they go to the market square to make announcement so people could be aware of what their plans could and how it can be of help to their various businesses

 

[Wisdom01]

Most small scale business arent even interested in insurance , since many of them.are not financially capable to pay the stated premium and that's the reason the big business go for getting an insurance premium , so that their business would get the required benefits and may other interesting offers I think

 

[btaliat]

Insurance company has failed in this aspect. They don't always carry along the small scale business owners. Though they may be thinking that those small business owners may not afford the price of the insurance premiums. They do focus more on the large scale business owners. Though most time, small scale owners don't really fancy insurance.

 

[Phabbyfundz]

The benefits and importance of insurance cannot be overemphasized has it cuts across every aspect of our human existence. I would like to commend you for this article and how you have taken time to vividly explain the prospects of this form of insurance as mentioned in the beginning of the article.