Income Insurance transfers HIVE platform to Embed Financial Group Holdings

Income is transferring its digital insurance platform, HIVE, to Singapore-based Embed Financial Group Holdings (EFGH), with the transaction expected to close in the third quarter of 2026.

Developed by Income Insurance over the past five years, HIVE is an API-first platform that enables insurers and partners to embed insurance into digital customer journeys, supporting products such as microinsurance, subscription-based, and usage-based coverage.

Following the transfer, HIVE will become part of EFGH’s embedded finance infrastructure, extending its reach beyond Southeast Asia. Employees responsible for developing and operating the platform will also transfer to EFGH, while Income Insurance will continue using HIVE as a customer.

EFGH recently announced a definitive business combination agreement with a U.S.-listed SPAC that values the company at approximately $425 million ahead of a proposed New York Stock Exchange listing.