The digital environment is their field of action, they are engaged in sectors as diverse as insurtech, fintech and e-commerce, and their bursting onto the business market has brought about a financial and technological revolution, which seeks to improve people’s lives thanks to the application of technologies to offer new services.
We’re talking about startups. The rise of entrepreneurship has come to stay, but, in the midst of the excitement of starting a business, there are some formalities to take into account from the beginning – any company, even those that have recently entered the market, should consider getting an insurance policy to protect themselves. In this article we provide some advice on the steps to follow to be insured against any potential setbacks.
Since at the outset it can be overwhelming having to take care of everything, the first recommendation is to rely on professionals, such as insurance brokers. They can help to make the search easier and to precisely design the type of contract that a company needs. Platforms like Sweetsurance offer the services of these professionals, and you can choose one depending on your location or the speciality required.
It is usually the case that members of a startup begin as self-employed – a way of working that brings a lot of flexibility, but which also requires a safety net in case of illness or absence from work. A temporary labour insurance or indemnity provides protection against any unforeseen events.
In the event that the startup is growing and has several employees, offering them health insurance is an added perk. Staff well-being is essential for a company, and to keep an eye on it ensures greater efficiency.
The Spanish Association of Insurers (UNESPA) provides a series of recommendations with regard to insurance policies for when you start a business. Among the contracts they recommend are healthcare, and also public liability, which can cover specific aspects such as data protection or protecting the product.
A public liability policy is one of the most important ones. Think of a fault on your website caused by a computer virus in an extremely busy sales period, such as Christmas. Having this insurance allows the startup to have a safety net to protect the business and be better placed against third party complaints.
At MAPFRE, the insurance for SMEs and the self-employed, which startups can benefit from, offers, in addition to mandatory cover, digital protection against problems that could arise in the online environment. It includes the possibility of obtaining expert reports, locating and blocking devices that are stolen or misplaced, and IT support.
Every business has different needs, hence the importance of getting a policy that covers the specific risks that each one faces. At insur_space by MAPFRE, the startups that are part of the programme receive the necessary advice and support to help their venture get off on the right foot.