On 18th February 2021, in collaboration with Astorya.vc, nexxbiz and de Volksbank, we organized “The Strategic Case for Embedded Insurance” Event. Embedded Insurance is one of the hot topics in 2021. Traditional insurance has always been something you need rather than want. Lack of personalization coupled with expensive distribution further complicates things, resulting in a far from optimal customer experience. This is the same customer whose expectations are now set by the frictionless performance of digital service providers and e-tailers in the world.
Embedded Insurance may provide an answer to some of these challenges. Providing relevant insurance at the time a consumer needs it, embedded in another transaction. With simple products and a frictionless experience.
Leveraging the potential of the latest in IT architectures, APIs and digital ecosystems, this domain is quickly being populated by insurtechs providing API platforms, ecommerce partners looking to provide one stop shop solutions and insurers providing simple, flexible policies.
So what’s exactly happening in this fast growing segment? And what are the ingredients required to make it work?
Florian Graillot – Astorya.vc – “The question for insurers is not if/when there will be a regulation around open insurance, but are they able to answer platforms’ requests to embed insurance in their customer journeys tomorrow morning”
Michael Mackaaij – nexxbiz – “I’ve been working in the insurance market since 1995, both in bricks and clicks. Starting 2010 involved in various IT-companies, working on B2C propositions in Life and non-Life, eg travel and simple risk. Chairman of the CGA, in which 24 IT companies, with a focus on finane and insurance are united. Passion for innovation, and bringing new initiatives to the market.”
Ruud van Hanswijk – de Volksbank – “De Volksbank as four financial service providers with their own profile and needs for Insurance. I make sure that we offer insurance propositions that best meets this needs. And that we embed the offering in our ecosystem as efficiently as possible. For this I use my knowledge that I have gained over the past 17 years with different insurers and intermediaries/banks”
Highlights from participants
Interested to find out other insights and topics discussed during the event? Curious to see the impact of innovation across the entire sector and the potential it offers for industry-wide collaborations? Are we truly heading towards an independent, inclusive ecosystem, connecting people & organizations, providing inspiration and important insights? Watch the recording of the event below!