Simply Business partnered with Elevate in June 2026, thus enhancing its cyber cover by expanding its insurer panel for this product. Simply Business is a smaller player in this line as per GlobalData’s UK market share data, but being an online broker puts it in a strong position for growth.
GlobalData’s 2025 UK SME Insurance Survey found that Simply Business accounted for 1.5% of the UK cyber insurance market. Breaking this data down by SME segment, Simply Business was most popular among sole traders and micro enterprises (businesses with one to nine employees). This suggests the broker could develop a strong niche among smaller and simpler cyber products that can be quickly taken out online.
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The same GlobalData survey found that online methods dominate cyber insurance purchases. In addition, brokers are the most popular purchasing channel for this product. These findings offer a digital broker such as Simply Business an obvious advantage in this segment.
The partnership with Elevate benefits Simply Business as it lets the latter quickly expand and strengthen its small business proposition with a specialist cyber product—without having to build all of the capabilities in-house. Elevate is a broker with expertise in cyber insurance: its product offers cover for cyber crime, cyber liability, and data breaches.
Overall, Simply Business is in a strong position to grow in the UK cyber market. It has a relatively small market share at present, but does have an established presence among smaller SMEs. In addition, its status as a digital broker matches up well with how many SMEs prefer to purchase cyber insurance.
