Swiss SMEs: technological change is the no. 1 driver

Over two-thirds of Swiss SMEs are expecting very significant changes within the next ten years. They mention technological change and different customer requirements as the main drivers. These are the findings of the SME Review 2018 published by Fachhochschule St. Gallen, which Helvetia has supported as a sponsor.

06.06.2018 | Media releases

The SMEs questioned consider the market and competitive environment to be more volatile than stable. Around a third of those surveyed expect significant changes within the next year. They cite technological change and different customer requirements as the main drivers for alterations.

Opportunities predominate
More than half of all those surveyed view the expected changes as opportunities, while risks predominate for around 20 per cent. Risks referred to are price falls, cost pressure and sinking margins, globalisation and increasing international competition, decreasing customer loyalty and new customer requirements, as well as the lack of qualified staff.

Those surveyed see opportunities in digitisation and the use of new technologies, a focus on certain market niches and the location of Switzerland as a synonym for quality and reliability.

Weighing up risks
As well as opportunities and risks, major changes mean uncertainty. “That's why it's important for a company to review its risk situation regularly and decide in a targeted manner which risks it can bear itself and which it should have covered by insurance,” explains Adrian Kollegger, Head of Non-Life Switzerland and a member of Helvetia's Group Executive Board. “Even in a changed environment, we want to offer our customers optimal protection and are therefore gradually adapting our offer to the new circumstances.” Helvetia thus launched cyber insurance in January 2018. This insurance can be used by companies to cover various risks relating to digital data and software. These include, for example, the damage or manipulation of data due to internal sabotage or the intentional installation of harmful software.

About the study
Changes are of huge strategic relevance for companies, as they can influence the long-term competitiveness of companies positively or negatively. The SME Review 2018 examined the opportunities and risks that changes mean for Swiss SMEs. The results are based on an online survey carried out nationwide between January and February 2018. The results were supplemented by expert interviews with representatives from trade and professional associations as well as various companies. The findings and results of further investigations and analyses by trade associations, institutions and companies were also included in the research. The result is a comprehensive, industry-specific and multi-faceted image of changes in Swiss SMEs. The SME Review 2018 was able to be carried out thanks to the financial support and content-related assistance of Helvetia Insurance and BDO Switzerland.

Contact information

Helvetia Insurance
Nadja Häberli
Senior Manager
Corporate Communications & PR
Dufourstrasse 40
9001 St.Gallen
Phone: +41 58 280 50 33
media.relations@helvetia.ch
www.helvetia.ch

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Figure: Key drivers for changes (PDF)

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About the Helvetia Group

In 160 years, the Helvetia Group has grown from a number of Swiss and foreign insurance companies into a successful international insurance group. Today, Helvetia has subsidiaries in its home market Switzerland as well as in the countries that make up the Europe market area: Germany, Italy, Austria and Spain. With its Specialty Markets market area, Helvetia is also present in France and in selected regions worldwide. Some of its investment and financing activities are managed through subsidiaries and fund companies in Luxembourg and Jersey. The Group is headquartered in St.Gallen, Switzerland.

Helvetia is active in the life and non-life business, and also offers customised specialty lines and reinsurance cover. Its business activities focus on retail customers as well as small and medium-sized companies and larger corporates. With some 6,600 employees, the company provides services to more than 5 million customers. With a business volume of CHF 8.64 billion, Helvetia generated underlying earnings of CHF 502.4 million in the 2017 financial year. The registered shares of Helvetia Holding are traded on the SIX Swiss Exchange under the symbol HELN.

Cautionary note

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