Embedded insurance was one of the hot topics of 2021, with a growing number of successful propositions emerging that target potential customers with insurance at the point of purchase.
ARMD is one of a crop of new companies putting embedded insurance into action. It offers theft and damage insurance to UK tradespeople purchasing tools through its online shop and supplies IoT sensors to help protect their vehicles.
Co-founder and CEO Devin Chawda joins Matthew to discuss how the technology works, why customers like embedded insurance, and the challenge of building a business and raising funds during Covid-19 lockdowns.
Talking points include:
- Market research and identifying pain points
- Aligning e-commerce and embedded insurance products
- Using app technology to expedite digital claims
- Gathering new data to assess risk and pricing
- Raising funds via crowdsourcing
To learn more about what embedded insurance means in practice and the potential opportunities, download our ‘Insurance: to Embed, or not to Embed’ report.
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Continuing Professional Development – Learning Objectives
InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to an InsTech London podcast, or reading the accompanying transcript, you can claim up to 0.5 CPD hours towards the CII member CPD scheme.
The Learning Objectives for this podcast are:
- Summarise the benefits of aligning e-commerce and embedded insurance products to enhance overall customer experience
- List some of the technological developments allowing better claims experience for embedded insurance products
- Identify key impacts of the pandemic on the growth of new insurance businesses
Let us know you have listened to this podcast by emailing [email protected] and if your organisation is a member of InsTech London you will receive a quarterly summary of the CPD hours you have earned.
To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.