INDUSTRY OUTLOOK
CAPITALISING ON EMBEDDED INSURANCE OPPORTUNITIES
Embedded insurance is a powerful tool that presents countless opportunities for companies and with the widening protection gap , it is becoming significantly more attractive to insurers . Ben Burger , Managing Executive at SilverBridge , speaks to us about embedded insurance and what it means for South Africa and beyond .
The global market for embedded insurance – the real-time bundling and sale of insurance at the moment a consumer is purchasing a product or service – is projected to be worth up to US $ 5 trillion by 2030 . For South African insurers and service providers , this provides an opportunity to unlock new business models .
Embedded insurance enables any thirdparty distributor to integrate insurance products and solutions into their own customer propositions and journeys . For example , a car manufacturer can embed insurance as part of a sale ; a bank that integrates life insurance with a home loan account . Not only does this improve the overall customer experience with www . intelligentfin . tech
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