by | Small Business |

If you’re a small business owner, congratulations!  You’re a part of a huge engine driving a significant part of the U.S. economy.  But it can often be hard to feel good when you’re working seven days a week, trying to attract the attention of potential customers, negotiate for physical space, find quality employees, or any one of a hundred other tasks you need to handle before you can do your actual job.

Without an imposing customer base, big check book, army of staff, or massive headquarters building you may be feeling that you can’t ever get any respect.  You don’t get the volume discount or the best shipping terms.  Your invoices don’t get paid in a timely fashion.  Your requests for meetings go unanswered.  In short, you may be feeling like an insignificant voice shouting in the wind.
 Allow me to help you feel a little better:  You matter a great deal to your insurance company.  “What?” you may be asking.  “I’m not even sure who my insurance company is.  And I only pay them a few thousand dollars, so why would they care about me?”  All good points so let me explain.

Over the past 20 years or so, the part of the insurance industry considered “small business” has expanded substantially and now makes up as much as 50% of the total available market by dollars of premium.  That’s a huge market.  Insurance companies have spent these last 20 years working hard to specifically identify the needs of that market and meet them.  Those efforts include coverages addressed to small businesses, operating models designed to work just for them, advertising campaigns to attract them, and programs designed to help insurance agents meet those needs as well.

20 years ago the larger accounts got most of the focus while small business customers were viewed as a bit of a nuisance.  Today, companies and agents are devoting even more resources to catering the small business customer.  No, that doesn’t mean you’ll receive a lot of personal attention, visits to your office, or expensive dinners and gifts; we still have a profit margin to keep an eye on, after all.  What it does mean is that a lot of time has been invested in figuring out what products and services you need and how to give them to you.  A wide variety of insurance companies from large national carriers to small local ones are active in this market.

So, if you’re a small business owner, here’s one place where you’re squarely in the driver’s seat.  If you think you haven’t been getting the kind of insurance service you deserve, there are a lot of agents and companies out there that would like a chance to fight for your attention, for a change.  Give yourself a treat and take advantage!


Acadia is pleased to share this material for the benefit of its customers.  Please note, however, that nothing herein should be construed as either legal advice or the provision of professional consulting services.  This material is for informational purposes only, and while reasonable care has been utilized in compiling this information, no warranty or representation is made as to accuracy or completeness.  Recipients of this material must utilize their own individual professional judgment in implementing sound risk management practices and procedures.

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