The small commercial insurance market has changed irrevocably in the last few years. There is a new generation of business owners, increased access to data, and a recent onslaught of devastating events, like the Australian bushfires and the impacts of COVID-19. The competition is heating up in what is a placid but profitable segment of general insurance with the advent of global insurance organisations and a plethora of Insurtechs. Insurers should transform in tandem and take action now to continue to bring value to their customers with better, personalised products and efficient, lower-cost operations by leveraging external data and asking less underwriting questions.

During this Virtual Think Tank, Frost & Sullivan's Director, Mark Dougan, will moderate a discussion around how small commercial insurers can seize the opportunity to exceed customer expectations with new sales models and tailored products on demand, while making their operations more efficient and less costly. The contents of your collective conversation will feed an article Frost & Sullivan is writing titled " Post Bushfires and COVID-19: How Small Commercial Insurers Are Transforming as Customers Grapple with New Realities”. Based on past experiences, we expect you to leave with a ton of great takeaways and new connections with industry peers.

Discussion Questions:

• How is your business recovering from the bushfires and what plans are you putting in place to cope with COVID-19?
• What’s holding you back from responding to both challenges?
• How have you tried to increase operational efficiency and what strategies have you put in place? (i.e., claims processing, underwriting, pricing models)?
• As we emerge from the impacts of the bushfires and COVID-19, do you see coverage being scalable across the term as the business recovers throughout FY20 – 21?
• Are you considering selling more products with minimum underwriter involvement (i.e., Straight-Through-Processing)?
• Does your organisation have the agility to tailor your product to a segment of one (e.g., can you sell business insurance to a yoga teacher in Surry Hills?) and do you think SaaS is the solution for this?