PriyaPatel
TLDR:
- Embedded insurance is a marketing tactic where insurance is inserted at the moment of purchase or bundled with another product.
- Industry experts discuss the growth, examples, potential, value, and trustworthiness of embedded insurance.
Insurers are using embedded insurance to make the purchasing process more seamless for consumers. By offering insurance options at the point of sale or bundling insurance with other products or services, consumers may not even realize they are acquiring insurance. This tactic has become increasingly popular in recent years, leading to discussions among industry experts about its impact and potential benefits for consumers.
Leading industry experts highlight the best examples of embedded insurance in sectors such as motor, property, life and health, pet, and travel. They predict that embedded insurance has the potential to become a trillion-dollar opportunity and can offer value to consumers through personalized premiums and tailored policy offerings.
Experts also emphasize the importance of trust and data in embedded insurance. Consumers can benefit from purchasing insurance from brands they trust, and the use of customer data allows for more informed and personalized policy offerings. Embedded insurance platforms aim to simplify the insurance purchasing process and provide consumers with tailored options based on their risk profiles.
