The news: Barclays is partnering with insurance service provider Only Small business to give smaller and medium-sized corporations (SMBs) a way to store for coverage. The collaboration lets the bank’s 1 million small business shoppers access offers as a result of its Uk web page and more than the telephone.
Much more on this: The banking giant’s smaller company buyers will have accessibility to numerous types of protection:
- Employers’ liability insurance policy. Security when their staff members get unwell or injured at get the job done.
- Public liability insurance policies. If employees injure people or injury assets though doing work.
- Company-interruption insurance policies. Residence problems impeding companies’ operations.
- Experienced indemnity insurance. Businesses’ possess clients’ reputational destruction or reduction of cash flow because of to steps caused by the corporation.
Barclays’ offer with Just Business enterprise is the newest in a string of partnerships that it has struck in current a long time to provide new monetary expert services.
Barclays is not the only United kingdom banking player to strike partnerships to offer you far more items:
- Starling’s Enterprise marketplace enables its SMB clients to accessibility companies that variety from bookkeeping to pensions through distributors..
- NatWest’s Tyl and Revolut each individual offer you accounting software program connections with organizations these as Xero and QuickBooks.
The massive takeaway: Barclays’ offer is an instance of a bank functioning with outside the house fiscal companies to far better serve its SMB prospects. By offering quite a few kinds of expert services from partners, Barclays can supply a broader merchandise lineup to increase SMBs’ consumer engagement and loyalty.