Helping your small business customers with their insurance needs

Helping your small business customers with their insurance needs

Being in business involves risks. Some risks, most business owners are aware of, but there may also be others that have escaped their attention. There are three main choices with risk – accept the risk and its consequences, take out insurance to protect against the risk, and manage the risk to reduce or eliminate it.

If they choose the first strategy, they probably haven’t thought through the consequences. Most business owners use a combination of the second and third strategies. They insure against the major risks they face, but also take active steps to reduce, minimize or eliminate risks.

As a bank, you’ll offer a range of insurance options. It’s a good idea to sit down with your small business customers and decide which options suit them best, then tailor a package to fit. If you can customize the deal, you’ll be building a stronger relationship with your customers.

Nobody enjoys paying insurance premiums, but having the appropriate insurance in place is good management and brings peace of mind. The below article looks at insurance for small businesses in more detail.

Read the full article at: www.blackenterprise.com

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Glen Senior
Glen Senior

CEO Glen Senior has been helping small businesses start and grow since 1989. Along the way, he has published 6 books on small business development and business planning, created training courses, built e-learning platforms, and developed Microsoft USA’s Small Business Plus program which was delivered into 9 countries.Since 2005 Glen has focused on the banking sector and has built up an extensive knowledge of how banks can engage with the small business segment. He has presented at a number of small business banking conferences and is sought out as an opinion leader in this space.