When you hear the words “niche business,” do ghost kitchens, mobile beer trucks and CBD wellness shops come to mind?

Executive Summary

A great niche small business product won't benefit an insurance carrier if no one knows about it, say executives of two InsurTechs working to simplify insurance distribution—Semsee and Coterie. Here, they explain why they believe InsurTechs can help insurers get niche coverage products for ghost kitchens, CBD wellness shops and other emerging business types to market faster.

These are just a few of the new ideas that have gone from concept to growing new business segment in the last several years.

New businesses mean specialized risks and opportunities for carriers. But providing insurance to these niches is not necessarily business as usual. New businesses may have special needs in terms of coverage. They’re often owned by younger entrepreneurs who may have different expectations about how they buy insurance. And some of these same owners have less knowledge about insurance overall, requiring more education about what they need.

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