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DIRECT LINE INSURANCE GROUP PLC

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Only three in ten workers wouldn't leave business technology in plain sight whilst commuting

10/14/2021 EST
Only three in ten workers wouldn't leave business technology in plain sight whilst commuting
4min read
14 Oct 2021
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  • Only three in ten tech-carrying commuters say that they won't leave business-owned technology in plain sight when travelling to and from work
  • A meagre 24 per cent will store items away safely after work, with only 28 per cent vowing they won't leave the business technology in a vehicle overnight creating a potential risk of theft
  • On average, tech carrying employees transport £1,512 worth of business equipment when commuting
  • 55 per cent of people expecting to commute on at least one day are travelling to the office with at least one piece of business technology now that restrictions have lifted

Just three in ten workers (30 per cent) who transport tech to the office say they would not leave business-owned technology in plain sight when commuting, according to new research from Direct Line business insurance.1

31 per cent wouldn't leave their technology unattended in the workplace and home, while only a meagre 24 per cent will store items away safely after work. Concerningly, only 28 per cent have vowed they wouldn't leave the technology in a vehicle overnight, creating a huge potential risk of technology theft to businesses.

Just one in eight (16 per cent) say they will not eat and drink near their equipment despite the risk of damaging it, while just 12 per cent will use a lockable or secure case to transport their items, increasing the chances of the equipment being damaged or stolen.

The research comes as more organisations shift to a hybrid working model, where employees travel between their homes, offices and public places to work.

55 per cent of workers expecting to commute to the office on at least one day are travelling with at least one piece of business-owned technology, while nearly one in three of these (29 per cent) are transporting equipment between their homes and offices more frequently than they did before Covid-19.

The lack of vigilance is particularly worrying as the research also revealed that workers are carrying an estimated average of £1,512 in company-owned equipment and are travelling an average of 12.7 miles to the office.

More than six in ten of those commuting with one or more items (66 per cent) are transporting business technology worth £500 or more, further emphasising the costs businesses could be exposed to if they do not have adequate insurance arrangements in place.

Most common reasons for losing or damaging business-owned technology outside of the home or workplace, Direct Line business insurance, 2021

Reason

Percentage of respondents affected

Accidentally leaving the technology somewhere

34 per cent

Dropping or knocking the equipment

18 per cent

Spilling food or drink on the equipment

16 per cent

A friend damaging the equipment

14 per cent

The equipment being stolen

12 per cent

The weather causing technology to break (e.g. laptops overheating because they were left outside in the sun)

11 per cent

A stranger damaged it

11 per cent

To help protect business technology in the new hybrid world, Direct Line has launched Business Tech Essentials, a new service to help businesses get back up and running quickly in the event essential tech is damaged or stolen while working from home or when travelling between their home and work premises.

The service is included with Business Contents cover for Retail, Hair and Beauty and B&B as well as with Electrical Items cover for Office and Professional customers. It provides customers with £2,500 worth of complimentary business equipment cover, per person, whilst they work at home and replaces tech within 24 hours of a valid claim.

To claim a replacement, all customers need to do is get in touch with the claims team between 8am - 6pm from Monday to Friday except Bank holidays. Cover and claim limits apply.

Jane Morgan, SME Product Manager at Direct Line business insurance, said:

"With lockdown restrictions mostly lifted, many businesses are shifting towards a hybrid working model.

"While this can bring benefits for employees, it also means a greater risk of company-owned technology being lost, damaged or stolen when commuting on the train, for example. So, it's more important than ever that workers take precautions when travelling between and operating from the home and the office.

"Our Business Tech Essentials service helps small businesses to feel secure in this new landscape, helping to give them the reassurance that in the event that company-owned technology is lost, stolen or damaged, they have the right insurance arrangements in place to help them get back up and running quickly."

Customers needing cover above £2,500 per person when working from home or on the go, can increase this by adding Property Away from the Premises cover to their policy. This add-on covers their business equipment when out and about elsewhere and also comes with the Business Tech Essentials service, providing 24-hour replacement of essential tech following an approved claim.

Business Tech Essentials covers the following items:

· Mobiles

· Laptops and tablets

· Desktop PCs and phones

· TVs

· Printers

More information on Business Tech Essentials can be found here: https://www.directlineforbusiness.co.uk/small-business-insurance/business-tech-essentials

-ENDS-

1 Nationally representative survey of 2,000 UK adults conducted by Opinium on behalf of Direct Line business insurance from 3rd-7th September 2021.

For further information please contact:

Direct Line Group
Unni Henry
Marketing Practitioner
Email: [email protected]

About Direct Line business insurance

Launched in 2007 Direct Line business insurance now has over half a million customer policies, providing a flexible range of insurance products for the landlord, van and small business sectors.

Direct Line business insurance policies are underwritten by U K Insurance Limited, Registered office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England and Wales No 1179980. U K Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Direct Line business insurance and U K Insurance limited are both part of Direct Line Insurance Group plc.

Customers can find out more about Direct Line business insurance products or get a quote by calling 0345 301 4827 or visiting https://www.directlineforbusiness.co.uk

Disclaimer

Direct Line Insurance Group plc published this content on 14 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 14:37:05 UTC.


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Sales 2021 3 018 M 4 004 M 4 004 M
Net income 2021 342 M 454 M 454 M
Net Debt 2021 - - -
P/E ratio 2021 10,8x
Yield 2021 9,09%
Capitalization 3 566 M 4 722 M 4 731 M
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Nbr of Employees 10 807
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 2,71 GBX
Average target price 352,47 GBX
Spread / Average Target 12 926%
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Penelope Jane James Chief Executive Officer & Executive Director
Neil David Manser Chief Financial Officer & Executive Director
Danuta Gray Chairman
Steven Maddock Chief Operating Officer
Sebastian Richard Edward James Independent Non-Executive Director
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