The Evolution of Embedded Insurance

Embedded insurance is the seamless service for a customer’s digital lifestyle, delivering an omnichannel strategy through an invisible and hassle-free distribution method. Products will not be oversold but promoted at the right time or point of purchase. Embedding insurance in 3rd party services is not news in insurance. What’s new is the breadth of options to partner, the digitization of the experience, and how products are tailored to micro-segments of clients and needs. Insurance is embedded in the customer’s journey, making it relevant at point of need or purchase, or even as an invisible function. This additional service layer provides opportunities for insurance to serve customers and gain new monetization channels. Embedded insurance opens an opportunity to untap the potential of a market worth over $700 Billion in Gross Written Premiums by 2030, or 25% of the total market worldwide. In this discussion, we’ll learn how key stakeholders of the insurance industry are reconfiguring themselves as they reshape the way insurance is sold.