Businesses think of insurance as a 4 letter word
(but it doesn't have to be that way!)
Most Business Owners today buy insurance to check a box. Or, because someone else tells them they need it: the government, a customer, their bank…
The majority of buyers harbor enormous distrust for the insurance industry, and most believe insurance companies won’t pay out for claims - even when they’re valid. Worse, when they do need to make a claim, they’re punished for it with higher premiums and a more complicated process when it comes around to renewal. Their distrust is reinforced.
So, why spend time trying to find a better product?
If all insurance is equally bad, the only differentiator is price.