What:
The Hartford is expanding its business insurance offerings with Smart Size Insurance and Home Business Insurance under the Putty brand.
Why:
Putty’s Smart Size Insurance helps companies run without worrying if they have the right amount of coverage due to changes in business volume. And its Home Business Insurance fills the gap in renter’s or homeowner’s policy because they don’t cover business-related activities.
How:
- With Smart Size Insurance, Putty automatically adjusts coverage when business volume changes and includes two types of business insurance covers: business property and business liability.
- For Smart Size Insurance, a business buys a policy, creates an online account to sync the policy with business management software, and opts in to get notifications of business changes that would impact the policy. This coverage is suitable for businesses with seasonal swings, cyclical sales cycle, or unpredictable growth spurts such as retail stores, restaurants, etc.
- For Home Business Insurance, Putty’s business owner policy (BOP) offers enhanced protection with personalized riders such as “Techie add-on” for coverage against hacking, “Maker add-on” to protect one’s inventory, and “Services add-on” to ensure uninterrupted operations. The Home Business Insurance also comes in three bundles: renter’s bundle, injury bundle, and team bundle.