Open & Embedded Insurance Observatory

Microchip ID Systems, Inc.'s BuddyID announced a new partnership with Pets Best Insurance Services, LLC pet health insurance. This collaboration will provide BuddyID members with exclusive discounts on Pets Best insurance policies, offering convenience and helping to give peace of mind during the microchip registration process, while expanding the pet services available to every BuddyID customer. "We are excited to partner with Pets Best, a company that aligns well with our mission to ensure the safety and wellbeing of all pets," said Patrice Karwowski, Sr. Director of Animal Welfare & Pet Registry with BuddyID. "At Pets Best, we believe that pets are family, and we are committed to providing financial peace of mind to pet parents, allowing them to focus on their pets' health and wellbeing and not the burden of unexpected veterinary costs," said Pets Best CEO Melissa D. Gutierrez. "This new collaboration with BuddyID allows us continue to build upon our mission to provide pet health insurance coverage that is customizable, accessible and affordable for all pet families." https://lnkd.in/ei95AYgu #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership

Owen, a broker committed to eco-responsible insurance, is launching in Italy alongside Younited with an Income Maintenance guarantee already marketed in France. The solution is not limited to the simple addition of guarantees in digital journeys, it also allows the integration of all digital services related to insurance such as the opening of a customer area dedicated to insurance, claims management and rapid compensation of policyholders. “Unlike car/home or theft insurance, the Italian embedded insurance market has many similarities with the French market. It is therefore logical that we decide to get closer to it first and thus make our know-how profitable on a European scale” says Thibault Masson, co-founder of Owen. https://lnkd.in/eVchnxvu #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Technology

New Zealand-based insurer Tower Insurance has entered into a partnership with HealthCarePlus to offer its products to members of various unions, including house, contents, and motor insurance. Through this partnership, members will now be able to access Tower’s insurance products directly via the HealthCarePlus website and member platform. Jonathan Beale, managing director of partnerships at Tower, said, “We are proud to partner with a like-minded Kiwi organisation to make insurance more accessible for New Zealanders. HealthCarePlus is a not-for-profit that supports unions representing some of Aotearoa’s most valuable professionals, and we feel incredibly honoured to support them.” https://lnkd.in/e-EWDjb6 #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Partnership

We are excited to announce that Ralph Betesh, Co-founder and CEO of Coverdash, will be speaking at our New York Plenary Meeting on the 17th of September! With a background in investment banking specializing in insurtech, Ralph brings a wealth of knowledge and experience to his role as an insurtech operator. Before founding Coverdash, Ralph spent numerous years in investment banking where he worked with various types of insurance companies such as carriers, life and P&C insurers, brokers, services, MGAs, MGUs, and insurtech firms. Throughout his career, Ralph has advised clients on capital raising through debt and equity, as well as mergers and acquisitions and corporate restructuring, establishing himself as a trusted expert in the field. Meet Ralph at the upcoming Open & Embedded Insurance Observatory plenary in New York on 17th September. Register here: https://lnkd.in/eGz8drJc #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Technology

Root Inc. Insurance has announced a partnership with Goosehead Insurance Agency in a bid to redefine the insurance agent experience through the integration of advanced technology. The collaboration is focused on enhancing the insurance process for agents and clients by leveraging cutting-edge technology. The goal is to streamline the quoting, application, and payment process by 50%, making it faster and more efficient. Root, based in Ohio, is known for its innovative approach to car insurance, utilising technology to offer personalised coverage based on driver behaviour. “The agent experience has long been lacking innovation, user enhancements, and advanced technology. Recognising this gap, Root and Goosehead identified a unique opportunity to leverage our combined technological strengths to make the insurance-buying process more efficient. This partnership focuses on creating a fast, easy quoting experience for agents while delivering a great insurance product at a competitive price for clients,” said Jason Shapiro, Senior Vice President of Business Development at Root. https://lnkd.in/evKwiaKG #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Partnership

Flowcode and REIN are partnering to streamline and modernise insurance for Fortune 1000 brands and leading carriers, combining QR data platforms with embedded insurance technology. Flowcode, a marketing technology platform, has partnered with embedded insurance technology company REIN to streamline insurance purchases by making it easier to secure a quote and find coverage wherever and whenever customers are in need. The innovative partnership brings the new Flowcode 2 QR platform capabilities to REIN’s IX embedded insurance platform to drive seamless customer acquisition in online and offline experiences. “Eighty percent of the economy is transacted offline. Brands need and want to make it easy for consumers to turn any physical experience into an easy and convenient online transaction,” said Tim Armstrong, CEO, Flowcode. “This partnership takes all the friction out of the complicated insurance industry so that consumers can secure insurance coverage almost immediately no matter where they are or what they need. The partnership is great for consumers and brands, as well as insurers who haven’t had the tools or data to connect the offline and online.” https://lnkd.in/d6DTUnGF #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Partnership

Omio, the leading global platform for booking trains, planes, buses, and ferries, announces its partnership with Companjon. Omio Flex will now allow train, bus, and ferry ticket holders the opportunity to cancel their journeys for any reason up to two hours before departure. In the event of cancellation, the customer will receive a payment of up to 80% of the purchased fare. The expansion of Omio Flex is possible through Omio’s partnership with leading insurtech Companjon, who will serve as risk carrier, underwriter, and policy manager for the ‘cancel for any reason’ solution, integrating its advanced technology into Omio’s booking platform and ensuring a seamless customer experience for Omio users. https://lnkd.in/eTwQ9tav #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Partnership

Prudential plc and Google Cloud have announced an expanded strategic partnership to build innovative AI-powered products and applications that will help enhance customer, agent and employee experiences. Supported by Google Cloud’s deep expertise in health-focused AI, the Lab will initially prioritise ways of using AI to provide improved access to quality healthcare, while supporting agents’ ability to deliver a seamless and personalised customer experience. The Lab will also focus on using AI to improve operating processes – with the goal of delivering a better experience for customers, agents and employees alike, and driving new, bottom-line efficiencies. Chief Executive Officer, Prudential plc, Anil Wadhwani, said: “Prudential is committed to leveraging technological innovation to create value for all our stakeholders. We are actively using data, advanced analytics and AI to create an exceptional customer and agent experience – while helping us work smarter and faster. Our expanded partnership with Google Cloud will unlock the innovation and creativity of our 15,000 employees and increase our speed to market, particularly in health insurance, where we see tremendous growth opportunities. By deepening our collaboration, we will build the future of insurance for our customers.” https://lnkd.in/e-JcU5Q2 #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Partnership

MSIG Singapore and Embed Global have partnered to simplify the buying of insurance for SMEs through the messaging platform WhatsApp. “The availability of appropriate insurance policy cover is important for business continuity and success of SMEs, which constitute 99% of businesses in Singapore. Lack of insurance protection or underinsurance can significantly hinder their growth with ripple effects impacting the economy,” Mack Eng, chief executive officer of MSIG Singapore said. The new system simplifies the process by guiding SME clients through an automated chatbot conversation. Users only need to provide basic information to receive an instant insurance quote. They can complete the transaction through a payment link provided by the chatbot and receive their e-policies via email. https://lnkd.in/eaTqRKMM #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Partnership

Eir Insurance, a leading B2B2X white-label insurtech based in Sweden and launched in 2019, has achieved two significant milestones: reaching profitability with a positive net result in June and expanding its operations into three new markets— the Netherlands, Finland, and Greece. In the first half of 2024, EIR reported a gross written premium of SEK 302 million, an 80% increase from the previous year. The company’s total portfolio has now grown to SEK 600 million on a 12-month rolling basis, representing a 90% increase compared to the first half of 2023. “We now predict to be profitable on an ongoing basis. Having reached this milestone is a game changer for us and means we can look forward to 2025 and beyond with confidence. We remain on track to reach break-even for the full year 2024,” said Fredrik Solberg, CEO of Eir Insurance. https://lnkd.in/eyaGTHTm #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Strategy