Month: February 2021

Categories
News

The Gild Insurance Mascot

Welcome! At Gild, we believe that teamwork is at the heart of every successful venture. No team is complete without a mascot to rally behind. A mascot is more than just a symbol; it’s the embodiment of a team’s spirit, values, and personality. It serves to unite, inspire, and foster a sense of pride, loyalty, and connection. When we discussed what could best represent the spirit of Gild Insurance, a working dog was suggested as our mascot. It immediately clicked. What better representation of dedication, resilience, and hard work?

With that in mind, we’d like to formally introduce you to Gildber, the Gild Insurance Mascot!

Our mascot, Gildber, isn’t just a figurehead. He embodies the very qualities we strive to uphold in our work every day. Like a loyal working dog, Gildber symbolizes the diligence and unwavering commitment we offer to our clients—small business owners, freelancers, and solopreneurs. We know the challenges that come with running your own business, and we understand the grit and determination it takes to stay the course, which is why we wanted a mascot that personifies these qualities.

If you haven’t noticed, we take pride in our work at Gild. We don’t just see ourselves as an insurance provider; we see ourselves as partners in your journey to success. Deeply believing in the independent, entrepreneurial spirit that drives so many of our clients, and we are continually inspired by the courage it takes to step out on your own and pursue your vision. Starting and growing a business isn’t for the faint of heart, and that’s why we are here—to provide the support, protection, and tools necessary for your business to thrive.

Gildber is more than just a cute face. He’s a reminder of the core values that define Gild Insurance—hard work, loyalty, and a commitment to helping you protect the business you’ve worked so hard to build. Whether you’re just starting out or looking to scale, Gild Insurance is here to ensure that you have the tailored coverage you need.

An homage not only to those enterprising individuals embracing their independent spirit, but also, to everyone that has their backs. Gildber and the entire Gild Community is here to remind you that independence is not a solitary endeavor. We got you.

Categories
Trends

Tailored Insurance: Small is Desirable

In our blog post, Work The Problem Chapter 2, we highlight a major issue facing the small commercial insurance market. Especially as pertaining to microbusinesses, freelancers, and solopreneurs. That issue is pricing and the need for tailored insurance. 

Underwriting an insurance product to attain a price point adequately reflecting risk and acceptable to consumers is no simple feat. That concept holds true not only for the actual work involved in creating the products, but also, to the efforts necessitated to entice an insurance provider to develop the products in the first place. Just because millions of microbusiness, freelancers, and solopreneurs exist, does not mean they are wanted. 

The fundamental thought process that has been plaguing the smallest of businesses since the dawn of insurance and financial services remains the same. Small is equated with less. The less profit a business generates, the lesser the opportunity to make money offering that same business products. Though that statement may be factually correct, industries now have an opportunity to fundamentally change how they view microbusinesses, freelancers, and solopreneurs, including the insurance sector and any industry offering products that can support them.

Why Tailored Insurance Matters to the Smallest Businesses

When people realize that a single microbusiness is one of tens of millions, and they can actually reach those millions, the perception that ‘small is less’ loses its relevance.” All of a sudden a microbusiness, freelancer, and solopreneur isn’t just a single business on main street, it is a business on every main street. The Digital Age allows for connectivity and support mechanisms for millions of microbusinesses, freelancers, and solopreneurs, no matter the location, size, or industry, creating a viable subset of the small business market. This provides motivation to insurance providers, for example, to develop coverages customized to this market, the smallest of businesses.

In this shift of perspective lies the importance of the Gild Community. Together, we assist larger businesses, like financial institutions and insurance providers, to see the bigger picture. We work to shift the perspective.

Small is desirable. Tailored insurance is a necessity.

We know you always knew small had merit. But now, we are utilizing that knowledge to help millions of enterprising individuals, and we thank you.

Categories
Insurance

Work The Problem – Chapter 2: The Problem for Microbusinesses, Freelancers, and Solopreneurs

The new digitally based economy not only changed the game on how consumers interact with businesses, it changed business itself. E-commerce platforms, social media, and mobile technology, to name just a few, provided resources to facilitate independence and with that, came a rise of microbusinesses, freelancers, and solopreneurs. 

In a country where small business is generally defined as employing less than 500 employees, let’s paint a more detailed picture:

  • 98% of the U.S. economy is made up of businesses with less than 20 employees
  • 87% of these businesses have no employees at all
  • 27% of the United States working age population, approximately 54M independent workers, have participated in the gig and sharing economy

Very clearly, microbusinesses, freelancers and solopreneurs dominate the economy. However, as these businesses are very aware, few insurance carriers specifically cater to their needs. An estimated 50% of small business insurance customers are open to switching providers each renewal period, highlighting this issue. the main underlying issue prompting microbusinesses, freelancers, and solopreneurs to switch insurance providers is…price. This failure in pricing is a failure to adequately tailor insurance coverings to these types of businesses. 

If you ask us, 50% of customers shopping around isn’t a resounding endorsement of the industry. So, ta-da! We found another problem to work; how to connect small businesses to adequately priced insurance products.

Tailored Insurance for Microbusinesses, Freelancers, and Solopreneurs

Our solution – solely partner with insurance providers that specialize in microbusinesses, freelancers, and solopreneurs, with products designed just for them, priced just for them.  

Then, algorithmically them, based on numerous factors, via our wonderful chatbot, to the tailored insurance coverages. 

And done! You never have to wonder again if your insurance provider understands your business. Gild is here to support you and your endeavors.

Read the first post in this series, Work The Problem Chapter 1: Commercial Insurance And The Digital Sales Problem.

Categories
Insurance

Work The Problem Chapter 1: Commercial Insurance and the Digital Sales Problem

Dating back as far as 2013, industry research, by the likes of PWC, Deloitte, Mckinsey, and Accenture, has been essentially begging the small commercial insurance industry to innovate. Report after report, year after year showing a digital sales problem.

Commercial Insurance and the Digital Sales Problem

E-commerce, social media, and a new digitally based economy changed the game. Consumers began to desire quick, seamless online experiences and self-service. It was, and is still, a monumental change for insurance providers involved in the small commercial insurance market.

In fact, monumental might be putting it lightly. Independent insurance agents dominate small commercial insurance sales, handling 76% of commercial insurance transactions in the United States. The vast majority of these agents operate without transactional web or mobile sales capabilities. Over the last several years, estimates show that online sales account for as little as 1% of commercial policy transactions. world went digital. Therefore, the entire small commercial insurance industry, insurance providers and agents alike, felt the pressure of obsolescence at their backs.

With the pressure of failure comes the instinct to survive. Simply put, fight or flight mode kicks in. We knew there were insurance providers out there that would choose…fight. So, we went out and found them. Together, we work the digital sales problem; how to offer quick, seamless online experiences and self-service to small businesses.

Our current solution is a digital only experience with online accounts, chatbot technology, real time bind capabilities and coverage options in minutes. And yes, we mean current. When the next small commercial insurance digital sales problem comes up, we’ll work that too. Here at Gild Insurance, we choose fight and so should you. 

To read more, check out the next post in this business insurance series, Work The Problem Chapter 2: Commercial Insurance And The Small Business Problem.

Categories
News

Microbusinesses, Freelancers and Solopreneurs: Welcome to Gild!

woman smiles to welcome visitors

Welcome! If there’s one thing we want you to take away from your visit, it’s this: every single day, we work to solve the challenges faced by microbusinesses, freelancers, and solopreneurs like you. At Gild, we believe that actions speak louder than words. Our dedication to finding real solutions is what sets us apart. We strive to earn your respect by being the partner you can count on.

Here at Gild, we don’t just observe the trends affecting small business owners—we dive deep. Using the latest industry research, data analysis, and direct feedback from entrepreneurs, we focus on the issues that matter most to you. From managing business credit to finding the right insurance, we work to identify the obstacles that can hold your business back and then design tailored solutions that help you move forward.

At our core, we are builders—driven by the same independent, entrepreneurial spirit that fuels the visionaries we serve. We understand the ups and downs, the late nights, and the relentless drive that come with carving out your own path. That’s why we’re here: to make your journey smoother, your risks more manageable, and your success more attainable.

We welcome you to explore our site, dive into our resources, and get to know the Gild community. Whether you’re looking for tools to strengthen your business or insights to help you grow, we’re committed to being your trusted guide. And, of course, don’t forget to meet Gildber, our adorable mascot who’s always here to cheer you on.

Thanks again for stopping by. We can’t wait to work with you!

Sincerely,
The Gild Team