Byline: Will Jones
Over the past decade, the business world has undergone significant changes. With the further integration of the internet and its unique tools, such as personalized websites, online retailers, and social media platforms, starting your own small business has never been more popular or within reach.
However, for as many small businesses that are now started with DIY roots, a significant number fail to properly account for all the various financial necessities that come with running a business, including insurance coverage. Because the field has undergone substantial changes in a relatively short period, it has left the insurance industry struggling to keep pace, leaving many small business owners uncertain about how best to proceed in a complex and ever-changing landscape.
Fortunately, Gild Insurance is here to assist those who need it most. Gild Insurance is a proactive partner solving systemic issues in the insurance-buying journey for small businesses. The company’s tech-enabled platform, intuitive UX, and commitment to transparency have all made the team a vital part of the larger insurtech trends disrupting legacy providers.
Through personalization, education, and automation, Gild Insurance has carved out a unique niche for itself within the industry and is working to simplify coverage for small businesses. By modernizing how small businesses access, understand, and manage insurance, transforming a traditionally opaque process into a digital, user-friendly experience tailored to today’s entrepreneurs.
The Frustration Gap in Traditional Insurance
Common pain points for small businesses include confusing policies, delayed quotes, and one-size-fits-all options. All of these issues stem from an earlier era when large businesses dominated, and DIY small businesses were seen as exceptions rather than the norm. Gild Insurance arose from these challenges, aiming to serve a new generation of entrepreneurs.
The Changing Business World
Ever since the COVID-19-fueled lockdowns of 2020, the world of industry and business has undergone a foundational shift. As large portions of the population were forced to stay home and work remotely, the lockdowns revealed several truths about the workforce and its outdated functionality that had long gone unnoticed. Since 2020, more people than ever before have begun to work from home and become self-employed.
Another contributing factor to this change has been the emergence of new avenues and platforms that enable small business owners to establish their presence. In the past, starting your own business required a storefront, which often meant significant costs and a potentially risky investment. This system compelled small business owners to gamble heavily on their dreams, with little more than hope and prayer for a timely payoff to avoid total forfeiture.
Now, however, business owners can launch their operations online, eliminating the need for such a significant upfront investment. Consequently, businesses can grow more organically and gain traction over a more extended period without these added pressures.
A Platform Built for the DIY Generation of Business Owners
Gild’s digital-first onboarding, quote comparison tools, and policy management dashboard are specifically designed to cater to a new generation of online DIY small businesses. However, that doesn’t mean the site is insular or looking to exclude anyone who isn’t already aware of such things; it’s quite the opposite. The company aims to make coverage streamlined and easily accessible to everyone. To achieve this, the platform utilizes plain language, offers mobile access, and provides swift coverage decisions.
Additionally, Gild utilizes business data, including industry, size, and geography, to recommend tailored policies, providing personalized and invaluable insights into the sector.
Final Thoughts
Fast-moving, ever-evolving industries such as business require platforms that are versatile, adaptable, and fluid to keep up with changes as they arise effectively. Given the significant changes in business over the last five years, small business owners have often been left confused about how to secure proper coverage, as the current systems are remnants of a bygone era.
With Gild Insurance, the future is clear, and it has never been easier for small business owners to obtain the insurance and coverage they need to ensure their business thrives.
