Rebuilding trust among SMEs using open banking

The Coronavirus pandemic and disputes over business interruption claims have undermined trust between SME customers, brokers, insurers and MGAs.

Despite limited adoption within the insurance market, open banking insights can provide insurers with the ability to proactively anticipate a customer’s evolving insurance needs based on their risk profile in order to provide a truly individual and tailored experience.

This spotlight explores how open banking can help insurers and brokers to meet the needs of SME customers in a post-pandemic world and in turn rebuild trust within the market.