Thirty percent of all insurance transactions will occur in embedded channels within the next five years. Insurers who don’t act now will miss out on reaching new customers—and risk losing current ones to innovative competitors offering embedded policies.
While only a small portion of the market today, embedded channels will make up more than 30% of all insurance transactions by 2028, per EY. Insurers who don’t figure out now where they fit into the ecosystem—and how to implement the necessary technology—may lose digital-first customers and younger demographics to competitors who do.
Key Question: How can insurers leverage embedded insurance to fend off competitive threats and grow their reach?
KEY STAT: Despite significant increases in gross written premiums from 2020 to 2022, property and casualty (P&C) profits still decreased by 11.4%. In an increasingly challenging profitability landscape, P&C insurers must seek alternative ways to reach customers.
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Report Snapshot
Insurers must decide their role in the embedded insurance market.
What is embedded insurance?
Inaction around embedded insurance would exacerbate P&C insurers’ profitability struggles.
Who are the key startup players in embedded P&C insurance?
Who are the key incumbent players in embedded P&C insurance?
Which P&C products hold the greatest revenue opportunity?
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