Women who run SMEs are less likely than their male counterparts to use brokers to buy insurance, and are more likely to go online to examine the possibilities, according to Vero research.

About 68% of women in small business use the internet to investigate their insurance options, including price, compared with 56% of men, according to the latest tranche of data from the Vero SME Insurance Index.

About 29% of female respondents use a broker, versus 33% for men, while a further 9% of women use a mix of brokers and direct channels, against 7% for men.

“There are several important nuances between female and male SME decision-makers,” Vero Head of Commercial Intermediaries Anthony Pagano said.

“Understanding these will enable brokers to fine-tune their approach to providing the most appropriate and relevant range of services.”

About 79% of women, compared with 73% of men, believe getting the right business insurance is important.

“Brokers need to understand female owners want to have greater control in the insurance process and brokers need to adapt their relationship accordingly,” Mr Pagano said.

“These owners want to be across the detail to understand the complexities of insurance, to be familiar with the options available to them.”

Women who use a broker are more likely than men to nominate “peace of mind” and having “someone on my side” as reasons for doing so.

Government data shows women represented 34.1% of all SME decision-makers in Australia in 2015, up 46% over the previous decade.

The Vero report follows a nationwide online survey of 1541 business owners and insurance decision-makers, with women representing 45% of respondents.