Most companies in Australia went digital when the COVID-19 pandemic hit the country. Chubb has released its latest report, Digital Business Accelerated, which explores how small and mid-sized enterprises (SMEs) managed their businesses digitally during the pandemic.
In partnership with Accenture, Chubb surveyed SMEs in nine markets globally – with 1,350 respondents across diverse industries. The survey found four mega-trends that impact businesses pursuing digital transformation, such as:
Mike Hooton, the head of small commercial and middle market division for Chubb Insurance Australia Limited, said many SMEs have pivoted their businesses digitally.
“Embracing digital transformation can help companies survive and thrive, but it also comes with significant risk. From product liability to increased cyber security threats, Australian business owners need to review their risk mitigation plans to ensure they have the necessary protection in place as they seize digital opportunities,” Hooton added.
Marianne Hutchinson, the insurance lead for Australia at Accenture, commented: “Following COVID-19, small and mid-sized businesses will look to embrace data and technology to grow, improve customer experience, operate more efficiently, and become more flexible and resilient with digital processes and services. We're excited to be collaborating with Chubb on new insights to support Australian businesses in a rapidly changing, digital future.”
