Agents & brokers will be the driving force behind embedded insurance 2.0
It’s time for commercial insurance to upgrade its embedded strategy and expand beyond affinity partnerships.
By David McFarland |
October 25, 2023 at 12:23 AM
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Embedded insurance 1.0 arrived on the scene set to completely change how people interact with their insurance company. By integrating at the point of sale, insurers could cut out the producer and directly sell to policyholders, drastically reducing expenses while gaining market share. While there are some niches in insurance where this absolutely makes sense (e.g., workers’ comp, pet, jewelry), many lines have yet to realize the embedded insurance dream.
Commercial insurance particularly seems to be missing out. Naturally, I’ve got to ask: “What gives?”
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