5 Ways to Help Small Businesses Navigate Uncertain Times

November 23, 2020

Travelers Insurance

Drawing of a business woman behind a laptop at a desk wearing a maskAgents can deepen their relationships with customers by being available, sharing their own challenges and lessons learned, and helping small businesses network and build important business relationships that can help them succeed. Through the use of videoconferencing, email, social media and other communication tools, agents can provide helpful information that addresses customers’ most pressing concerns when they need it most.

1. Proactively identify coverage gaps.

As small businesses look to adapt, some might be adding new services or using their properties in different ways. For example, a pet care company might expand from dog walking and grooming services to boarding pets, or a grocery store could add a delivery service. Discussing the need for new or more coverage, such as an umbrella insurance policy to help cover additional liability costs that exceed their primary general liability policy limits, or commercial auto insurance to address new auto exposures, could help them identify and protect against risks related to their new service offerings.

2. Help small businesses virtually build their networks.

Fostering a sense of community among small businesses in the area can help guide companies through uncertainty and allow them to make new connections and expand their network. Consider holding videoconferencing sessions to bring small business owners together. Many of your customers may have questions and concerns in common. They can also find ways to support one another, such as referring business and sharing success stories.

3. Be a sounding board.

Offering online office hours and encouraging small business customers to reach out with questions can open a virtual door to customers and allow you to better understand the issues they may be facing. You can help connect small businesses with funding information such as Small Business Administration loans and other financial resources for small businesses, answer questions about insurance coverage, or just be a sounding board for them as they share how they are adjusting their business to the new normal.

4. Communicate what's working.

COVID-19 affects agents, too, and you may be managing through some of the same issues facing your customers, including how to support employees during COVID-19 and ways to help your teammates set up their home offices. Sharing stories, by email, on social media or over the phone, about what has worked for your business can be a valuable way to connect with customers and to help them solve real-world challenges.

5. Share helpful information.

Travelers has a wealth of information about managing through COVID-19 that includes resources for small businesses as well as individuals that you can share with your customers and prospects. For example, for businesses offering food services and curbside pickup, there are tips on driver and vehicle safety, and employee and customer safety. Other shareable content covers topics like cybersecurity precautions, tips for taking a business virtual and staying productive while working from home.

To learn more, contact your Travelers Representative or visit travelers.com/resources.

Cover of Smart Choice Magazine 2020 Issue V, Year End Edition2020 Year-End Edition

Despite 2020 being one of the most irregular years of our lifetimes, both personally and professionally, Smart Choice, our agents and carrier partners, have managed to succeed together. From double-digital revenue growth to our company's highest contingency sharing year to date, we and our partners have hit some really incredible milestones this year. Check out what else we achevied together in the 2020 Issue 6 of Smart Choice Magazine.

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