Insurance coverage is essential for MSMEs because of their limited appetite to absorb risks such as payment defaults. The supply chain crisis, geopolitical issues, inflation, economic slowdown, and other such issues have only increased the risks around exports in the post-pandemic world. However, the majority of MSMEs see insurance as an unnecessary expense and refrain from buying it. Nearly 85% of the MSMEs in India are uninsured, according to data released by the Insurance Regulatory and Development Authority of India (IRDAI) in 2020. Small businesses generally fail to understand that insurance products can also be leveraged to cut costs for services such as financial services and particularly important for MSME exporters to mitigate potential risks. Most MSMEs lack an understanding of the technicalities of insurance terms. The challenge arises when these companies file a claim. This essentially means that there is a communication gap that needs to be addressed.