It’s no secret that ecommerce businesses are on the rise. Thanks to a perfect storm of pandemic-driven online shopping and growing consumer adoption of the digital marketplace, it’s estimated that the US ecommerce market will be worth $908.73 billion by the end of 2021.
But despite - or maybe because of - this massive industry growth, one question is left lingering over ecommerce business owners…
How can they protect themselves from the costly risks that come hand-in-hand with online selling?
It’s a question that drove Simply Business, a leading digital business insurance marketplace, to create one of the most robust insurance solutions for ecommerce and online store owners out there today.
Working with a broad panel of insurance carriers, Simply Business is able to offer a wide range of affordable policy options for ecommerce and online store customers, all available for purchase on its digital platform.
Our writers sat down with Scott Aiello, Vice President of Commercial Strategy, and Jason Emery, Head of Partnerships, to learn more about how Simply Business has become a powerhouse in the ecommerce insurance space.
Q: What makes Simply Business so well-positioned to meet the needs of ecommerce business owners and online sellers?
Scott Aiello: Simply Business has a long history of providing insurance to ecommerce and online retailers. In fact, they were one of our first customer segments we serviced when we launched our first insurance product in 2018.
We have a number of insurance carriers that have a strong appetite for this business. We also work with our carriers to bring back customer insights to continuously learn more about their needs, which in turn helps us create better products and online experiences for our customers.
Jason Emery: Our focus on the needs of the sellers, while also understanding the challenges inherent to buying insurance, has pushed us to be able to offer a variety of insurance options, all delivered digitally.
People want and deserve to make an informed choice from their computers, so that’s what we deliver.
Q: Why are ecommerce businesses and online sellers choosing Simply Business?
JE: Ecommerce businesses are choosing Simply Business for a handful of reasons, all of which boil down to solving their needs quickly, easily, and efficiently. By offering a choice of insurance carriers, we can ensure our ecommerce customers are making the best decision to protect their business, whether that decision is motivated by coverage or price.
SA: We provide an easy to use online journey that allows customers to answer a few questions about their business and to usually receive multiple quotes back from leading carriers. Our customers are indicating a high degree of satisfaction with the easy online experience.
They also value the responsiveness of the insurance agents in our Customer Solutions Center, which is available to answer any questions or make adjustments to their policy.
Q: So what can ecommerce businesses and online sellers expect as soon as they land on your website?
SA: While many sellers immediately go right into the quote journey and begin answering questions about their businesses, we’ve also seen that some sellers are spending time looking through the deep content we’ve created that answers many of their questions about why they need general liability insurance coverage.
Ultimately, we simplify business insurance jargon so that customers understand the key elements of what they’re buying and how they’re protecting their business.
JE: The first thing we want to convey is comfort with our knowledge and awareness of the risks associated with being an ecommerce business. It's our job to provide peace of mind and confidence that when things happen that our customers can’t control, their business and its balance sheet are protected.
Q: Any advice for ecomm/online sellers out there who may still be on the fence about getting insured?
JE: My biggest piece of advice would be to truly understand the value of insurance to your business. Insurance is about making sure you go to work tomorrow, even if something happens to your business today.
You work hard everyday to grow your business. Insurance is simply a tool that helps ensure you keep going regardless of what may happen.
SA: The best advice I have is to go through the process of getting an insurance quote to see how much it might cost; there’s no obligation to buy. Most are surprised by how affordable general liability insurance can be, as well as the fact that payments can be spread out over the course of the year.
Plus, the peace of mind we provide is something online sellers value. That’s because our insurance policies come with the experience and expertise to defend claims against the seller.
The other advice I’d have is to talk to other business owners that have been in your industry for five or more years to see what their experience has been.
Q: What’s next for Simply Business?
SA: We’ll continue to learn more about the unique needs of ecommerce business owners and online sellers as we service more customers who sell their products on sites such as Amazon, Etsy, eBAY, Walmart, or directly on their own website.
We’ll also ensure we continue to understand their evolving needs, both from an insurance perspective and more generally on how we can best support their business goals.
JE: We’re committed to continuing to serve our ecommerce customers with the best insurance products available. What that means is consistently advocating on behalf of our customers to ensure that the insurance products our carrier partners offer are priced appropriately, and that the coverage offered is enough to provide peace of mind and confidence that those businesses are protected.
We’re always looking to expand the options available and are always working to create more content to help educate customers on the value of insurance and how best to obtain it.
We’re also building new and differentiated digital capabilities to make the process of buying and maintaining insurance even easier.
Ultimately, digital businesses deserve digital solutions. As a leader in tech-enabled insurance, Simply Business is constantly iterating on newer, better, and easier capabilities to allow ecommerce companies to obtain coverage easily.
I love writing about the small business experience because I happen to be a small business owner - I've had a freelance copywriting business for over 10 years. In addition to that, I also head up the content strategy here at Simply Business. Reach out if you have a great idea for an article or just want to say hi!
Mariah writes on a number of topics such as small business planning, contractor insurance, and business licenses.
This content is for general, informational purposes only and is not intended to provide legal, tax, accounting, or financial advice. Please obtain expert advice from industry specific professionals who may better understand your business’s needs. Read our full disclaimer
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated insurance carrier by AM Best. Harborway Insurance is a brand name of Harborway Insurance Agency, LLC, a licensed insurance producer in all 50 states and the District of Columbia. California license #6004217.