SME

As an integral part of the economy, the need for SMEs to be well protected against any issues that could hamper operations, growth and success - both individually and for the economy as a whole. It’s estimated that almost one in 10 smaller SMEs do not hold any business insurance at all. Meanwhile, more than half of all Singaporean SMEs operate with only the most basic and mandated levels of insurance. Whilst SMEs expect difficult times as they grow, many do not hold any coverage for the specific business risks and issues that could stop their business in its tracks. Give our team a call and we can assess your protection needs.

What are SME insurance packages? 

Starting and running a small business in Singapore can be really confusing. The rules are forever changing and negotiating work passes alone is enough to make you want to quit before you have started.  We get it. That’s why we have pooled our resources together to tailor bespoke SME packages so that you don’t have to worry about it. You have enough on your plate to think about. We have teamed up with some of the world’s leading insurance providers to put together all of the essential elements that you will need to get your business protected so that you can focus on the important bit – growing your business. We also have a great piece here that is worth a read on the types of business insurance that you will need. If you would like some help getting started, leave your details here and one of our Business Insurance team will get in touch to  talk to you about what your requirements are for your new business. 

What’s in an SME insurance package? 

These type of policies combine a range of essential cover to provide the business with affordable but comprehensive cover.

The forms of SME cover will change depending on what your business specializes in, but as a general rule they will include a main coverage in full limit and sub-limit or additional coverage: 

  • Directors and Officers Insurance. You need to make sure that any decisions that you make as a business owner or director are protected. You can read more about what Directors and Officers Insurance entails here.
  • Professional Indemnity Insurance. This is a must for any business. If you would like more info on this, see our page on Professional Indemnity Insurance.
  • Cyber liability and data protection Insurance. This is a non-negotiable for any business that operates online, which is every business these days. You can learn more about what is required to protect the data of you and your customers here.
  • Others type of coverage like crime, EPL, personal accident, threat, could be granted depending on business and insurer provider. 

These are the basics you will need to get you started. From here, our team will assess your business and suggest other products to include in your SME package that will see that you have sufficient cover to get on your way. Give our team a call and we’ll get you start

What happens from here?

Leave your details with our Business Insurance team. 

  • One of our experts will get back to you within 24 hours and talk to you about your specific business needs and requirements.
  • We will take your information and find you the best options for your new business. We have access to over 30 international insurance providers and we work with the biggest names in the industry. We will then package together a bespoke plan using the details that you have given us.
  • From here we will go through all of the details of your package, what those mean to you and your business and untangle all the scary insurance-speak.
  • We will stay in touch throughout the year and we will use our awards winning brokerage capacities to its full potential by making sure that you will continue to have the best policy for your business as it grows and evolves. 

If this sounds like what you are after, give us a call today and we can get you started. 

ARE YOU RUNNING A SME BUSINESS IN SINGAPORE?

Do you need help putting together some basic insurance for your new SME? Reach out to our team today and let us help you get started!

Get in touch

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