Intelligent Fin.tech Issue 07 | Page 42

INDUSTRY OUTLOOK

insurance value chain can benefit from in places where consumers already are .
This means people do not have to search for and contact an insurer directly . Instead , they can rely on the partnerships put in place between their service providers and various insurers . Embedded insurance makes the entire process of taking up a policy as smooth as possible and in some cases close to a non-event . It virtually becomes a point-and-click exercise done within minutes , while the underwriting aspect happens automatically in the background .
Integrated journey
According to Accenture , this appdriven environment can be considered the adoption of embedded insurance v2.5 . This is web-enabled embedded insurance where customers can purchase insurance alongside
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