Embedded Insurance: Q1’23

This report highlights Embedded Insurance partnerships picked up by Coverager in Q1 2023. Collaborations range from affinity partnerships to inclusive, meaning free insurance coverage per the Coverager Framework for Embedded Insurance. We’ve heard embedded insurance mischaracterized as a “digitally enabled, smart, timely, seamless offer of insurance placed within a broader digital transaction or a digital relationship for the purchase or use of a non-insurance product or service,” which is at best false and at worst wishful thinking.

In reality, this past quarter, a wide range of businesses from different sectors have cooperated with insurance companies; some are well-known, like Hyundai, Japan Post, and Porsche, while others operate in the background. To assess their success, we are proposing the 3 Rs of an embedded insurance strategy, which will be covered for the first time in this report.