Hiscox Insurance
With the rise of women entrepreneurs, now is the best time to ensure that your female customer base is protected.
Over the past 15 years, women entrepreneurs have taken the reins in the business world. They run the gamut from small, home-based business owners to powerful chief executives of some of the world’s most notable companies. While women still face certain challenges on the road to entrepreneurship, they are invariably changing the game by creating new business models and new jobs, and ultimately helping to shape and grow the economy.
Global Entrepreneurship Monitor found that, in 2016, female entrepreneurial activity around the globe increased by 10 percent, and 163 million women were starting or running new businesses in 74 different countries for that year alone.1 Additionally, the Kaufman Index reported that 230 out of every 100,000 women became entrepreneurs each month during 2017.2
While the number of women entrepreneurs is on the rise, experts have differing views on what is driving this rapid growth. According to the National Women’s Business Council, female entrepreneurs often fall into two categories: those who want to exploit a market opportunity and those who go into business for themselves after realizing the traditional labor force does not offer options that cover their basic economic needs.3
Regardless of their reasons for becoming business owners, more women than ever are finding success in the entrepreneurial world. For example, in Maine, which is at the forefront when it comes to supporting women in their business endeavors, women entrepreneurs saw the highest revenue growth among the 50 states and Washington, D.C. during 2017, with 45,600 women-owned businesses generating around $13 billion in sales annually.4
Since there aren’t many large employers to work for in Maine, numerous women there have started their own businesses, ranging from donut shops to accounting firms. Entrepreneur Leigh Kellis, who owns The Holy Donut, believes women in Maine share a passion for what they do and a particular inventiveness that makes them successful. The state is undeniably leading the way when it comes to economic prosperity spurred on by women.
Maine and beyond, female-owned small businesses continue to make their mark. And Hiscox is here to support this. We specialize in insuring start-ups, new ventures, and micro businesses.
Hiscox NOW® offers admitted professional liability, general liability, and business owners’ insurance for over 180 professions. You can quote and bind small business insurance online in minutes. Your client gets same-day coverage and we handle all the service and billing. It’s quick and easy, so you can write more business faster.
With the rise of women entrepreneurs, now is the best time to make sure your female customer base is protected through Hiscox NOW. Get started today!
Why Choose Hiscox NOW?
- Fast and Simple: PL, GL, or BOP quote for your clients in minutes online or by phone.
- Broad Appetite: Same-day coverage for 180+ professions under$5M revenues.
- Instant Binding: Policy documents are emailed immediately.
- Direct Bill: Hiscox handles all servicing and billing.
- Automatic Renewal: Agents earn commission through the wholesaler for the lifetime of the policy.
Quote and Bind your next small business client with Hiscox NOW and Smart Choice.
Disclaimer: Underwritten by Hiscox Insurance Company Inc. (HICI) a Chicago based insurance company.
The use of our portal to obtain a premium quotation does not alter or change your relationship with Hiscox or your customer. At all times you remain broker for the applicant and not an agent of Hiscox.
Full Hiscox report available at: https://www.hiscox.com/sites/default/files/content/Ebook/WomensEntrepreneur.pdf
1 University of Southern California, Marshall, https://onlinemba.marshall.usc.edu/news/the-female-entrepreneur-women-who-run-their-world/
2The Kauffman Index, http://www.kauffman.org/kauffman-index/reporting/startup-activity
3National Women’s Business Council, http://www.prweb.com/releases/2017/11/prweb14928630.htm
4Portland Press Herald, http://www.pressherald.com/2017/11/27/women-owned-businesses-thriving-in-maine/
Don't let this major opportunity pass you by
We’ve talked over and over about the incentives of adding commercial business to your book – higher retention rates, higher referral rates, and increased commissions. But commercial business is more time-consuming to learn and can often be difficult to place, many agents just didn’t find it worth the investment. However, the Commercial growth we’ve seen proves that many agencies are moving this direction, and positioning themselves as leaders in the community when it comes to providing for the needs of consumers. Are you one of them? Check out the 2019 Issue 3 of Smart Choice Magazine for more.