Embedded channels will make up a large chunk of life insurance transactions within the next five years. Insurers that form the right partnerships today can reach coveted younger demographics and grow their customer bases.
Embedded life insurance opens new distribution channels to get basic offerings in front of consumers—and at contextually relevant moments when they’re more likely to buy. To maximize this opportunity, insurers must move fast and partner with brands that are trusted, well recognized, and digitally mature.
Key Question: How can life insurers form brand partnerships to embed offerings and reel in new customers?
KEY STAT: US life insurance penetration pales in comparison to other lines, like auto insurance (75.3% of US adults in 2023). As it continues to drop, insurers will need to rely on embedded insurance to mine what pockets of growth remain.
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Report Snapshot
Life insurers that can tie up with coveted partners today will win big on embedded insurance revenues.
Embedded insurance expands the power of insurer-brand partnerships.
How can incumbents make the most of embedded insurance partnerships?
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