In today’s digital age, industries are undergoing rapid transformations, and the insurance sector is no exception. Embedded insurance, a concept integrating insurance into non-insurance services, is revolutionising the landscape. For instance, imagine getting travel insurance as part of the flight booking process or being offered insurance by the car rental agency when hiring a vehicle.
Similarly, picture purchasing a recently launched laptop and being presented with insurance that covers the cost of replacing a damaged or faulty laptop. This is the essence of embedded insurance – offering convenient coverage within everyday interactions. The time is now for embedded insurance Insurance companies and businesses across various industries are realising the importance of integrating insurance into what people buy, use, or maintain.
Thanks to advancements in technology, constant connectivity, and changes in what customers want, embedding insurance has become a priority for all sorts of insurers. Companies such as Uber and Apple are already seeing positive results from including insurance with their products, making customers happier and their offerings more valuable. The use of modern technology platforms is crucial in this shift.
These platforms allow insurance companies to use up-to-date information to create personalised solutions and handle insurance claims more quickly. Embedded insurance in the Middle East market Just like many other industries, the insurance sector fac.