In-depth - data: The personal approach
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It’s time to apply the same use of data, as well as data encrichment and verification, to the SME market, says LexisNexis Risk Solution’s Martyn Mathews
Brokers serving the SME market might be hard pressed to find a time when the opportunities for new business have ever been so good – or indeed could present more risk to their insurer partners. According to payment solution firm Tyl by Natwest, in 2020, 50,000 new businesses were created every month and the number of start-ups grew by 30% on 2019.
Entrepreneurs responded quickly to the pandemic, and as a result, 305,608 online and mail order businesses were created in 2020, compared to just 13
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