How, where and why embedded insurance is an innovation for our industry

Digital Reinvention
31/10/2022Article

According to Scott Stice and Bob Besio from Accenture, “Embedded insurance is currently a red-hot topic in the industry”. But why is embedded insurance seen as one of the major recent innovations in our industry, and how can merchants benefit from this additional revenue opportunity for their distribution channels?

There are many different definitions of embedded, but I think all converge to the same approach: Embedded insurance is an insurance product that can be purchased within (or in combination with) the acquisition of another product or service.

As such, we can agree distribution segments such as bancassurance, related offers (offering insurance in the digital universe of a partner) or linked propositions (a white label site in a partner’s website) cannot qualify for embedded schemes. But they can be interesting additional contributions to embedded offers.

Want to keep reading?

Register for free to access Qorus freemium content

Digital Reinvention community

With Qorus memberships, you gain access to exclusive innovation best practices and tailored matchmaking opportunities with executives who share your challenges.

Related news & insights

Digital Reinvention
05/06/2025Article

Shift to services exposes banks to lurking risk of revenue leakage

The complex legacy systems that support many of the banks’ new fee-based services frequently leak revenue. It’s a risk that...

05/06/2025Interview

How Allianz Turkey attracts and retains emerging tech talent

Boris Plantier from Qorus spoke with Burcu Önder, Talent Acquisition Manager, to learn how the company is addressing the challenges...

05/06/2025News

CIMB Singapore and Wing Bank partner to strengthen ASEAN financial ties

Singapore-Cambodia corridor gains momentum.

Digital Reinvention
03/06/2025News

BUUT is ABN AMRO’s response to the digital habits of a new generation

While it offers standard banking services, BUUT aims to deliver them in a format aligned with the expectations and routines...

Insurance
03/06/2025News

Aviva and FNZ launch data tool to streamline adviser experience

New analytics suite aims to simplify reporting and increase efficiency.

02/06/2025News

UAE introduces first ‘finfluencer’ license to regulate digital financial advice

The license is aimed at anyone offering investment recommendations or financial insights related to regulated products or services within the...

Digital Reinvention
02/06/2025News

BBVA app adds AI feature to hide data from prying eyes

If more than one face is identified, the app automatically hides sensitive details such as account balances and card information.

Digital Reinvention
02/06/2025News

Lloyds partners with Lumio to test shared finance app for couples

The collaboration is aimed at simplifying financial management for couples, flatmates, or family members who handle household expenses together.