What do companies think they know about non-life insurance – and what’s the reality?
At our insurtech startup Verzuz, we regularly come across many myths about non-life insurance. Most of them keep coming up again and again, which only goes to show how many companies are running on autopilot.
MYTH #1: “Property insurance? It covers what we need.” FACT: Many companies have underinsured real estate and equipment. The value of property and technology keeps rising, but policies often stay unchanged for years. The result is significantly lower indemnity in the event of a loss – as we saw with last year’s floods.
MYTH #2: “Our regular travel insurance covers business trips.” FACT: Business trips often involve risky activities, longer stays or specific work tasks. Dedicated travel insurance for employees is built on different principles than tourist travel insurance.
MYTH #3: “Casco for company cars is an unnecessary luxury.” FACT: Company vehicles are often on the road every day, which dramatically increases the risk of an accident. What’s more, comprehensive (casco) insurance today can also cover vandalism, natural disasters or collisions with wildlife – ultimately saving both money and nerves.
MYTH #4: “We don’t need a central overview of all our policies.” FACT: Most corporate policies are scattered across various folders and departments – different products, different providers, and no central overview with a single responsible point of contact.
Technologies like our Verzuz platform now make it possible to keep everything under control – online, clearly organized and, above all, up to date. Simply put, with us, the world of insurance is simpler.
