Simply Business Positioned for Growth as Key Player in the UK Cyber Insurance Market
In June 2026, Simply Business partnered with Elevate to enhance its cyber insurance offerings by expanding its insurer panel. Although currently a smaller player in the market—accounting for just 1.5% of the UK cyber insurance market according to GlobalData's 2025 SME Insurance Survey—the broker is well-positioned due to its digital-first approach and strong appeal among sole traders and micro enterprises. The survey also revealed that online methods dominate how small businesses purchase cyber insurance, with brokers being a preferred channel. This aligns perfectly with Simply Business’s model as an online broker, giving it a competitive edge in the segment. The partnership allows Simply Business to strengthen its product offering without building capabilities from scratch, leveraging Elevate's expertise in cyber crime and data breach coverage. With a growing demand for digital insurance solutions among SMEs, Simply Business is well-placed to expand its market share by focusing on niche products tailored to smaller businesses.