A study by Deloitte and the Retail Council of Canada found that technology disruption in the retail sector will favour those willing to accept it and change to better serve technology-savvy consumers.
And this doesn’t just apply to eCommerce. The study reveals that if brick-and-mortar retailers want to survive the disruption, they need to invest in technology to improve the online customer experience, logistics and inventory management, and increase employee engagement in-store.
“Brokers play an important advisory role to their SME customers, especially in times of disruption,” says Paul Lucarelli, SVP, Commercial Insurance at RSA Canada. “Retailers need to adapt – and they’ll need their insurance broker to not only adapt with them, but guide them through the insurance implications of any new investments and changes they make in their business.”
Lucarelli adds that given the critical importance of an impeccable customer experience and reputation in the retail industry, the last thing a retailer should have to worry about is the negative impact of inadequate coverage such as business interruption, cyber and professional liability if something were to go wrong.
RSA is responding to the changing needs of SME brokers to help them be efficient and available to help their small business clients. For example, we are currently rolling out RSA Pro™, an online quote & bind tool for SME business that includes retail, contracting and business & professional services. Ultimately, our goal is to help the broker save time administratively to focus on their role as a trusted advisor to their customers.
To learn more about RSA Pro, view our brochure or speak to your local RSA representative.