How Miway supports small businesses

Insurers have become integral role-players in growing clients’ businesses, leveraging expertise to offer informed advice and connect SMEs to a wider network of industry support services. At Miway we see this not as a passing trend but as a key evolutionary step in the growth of the industry to enable better, more comprehensive customer experiences. 

When looking at specific types of businesses, there is a lot to consider. For example, rapid technological development has prompted insurers globally to employ technology such as drones to offer specialised coverage to emerging, platform-based businesses, as well as telematics that enhance efficiency allowing for real-time monitoring and processing of data on the movements and condition of company fleets. New generation e-commerce businesses face a specific set of risks such as damages to stock in transit due to vandalism, theft, or weather hazards. Online stores may also have extensive warehousing facilities which need to be protected from multiple risks. 

These are just a few examples of how the insurance sector has evolved to meet the emerging needs of businesses. With access to advanced technology and more accurate data, insurers are in a better position to service SMEs.

All Miway’s business clients have the option to access MiBusinessAssist, an offering that strives to reduce unnecessary operational costs including access to services such as legal advice, admin assistance, an IT help desk, tender notification, license disc and traffic fine support, and digital marketing. 

At Miway, we believe that businesses deserve more than cover from their insurers, and given the increased competitiveness of the insurance sector, with several new InsurTech companies vying for market share, insurers need to invest more in SMEs in the interests of building longer-lasting relationships on the foundation of trust while offering reliable support where businesses need it most.