The monthly newsletter of the Open and Embedded Insurance Observatory
Month of May 2025
Hi,
At the Open and Embedded Insurance Observatory, we conduct ongoing market research and intelligence on open and embedded Insurance. As a valuable member of our network we are delighted to share with you our monthly selection of key facts, insights, and news that we believe are meaningful and relevant. This newsletter covers all the insights and pertinent features from May 01- May 31, 2025.
We hope you find these resources beneficial for your business.
Market Intelligence
Embedded Insurance Partnerships
May 08, 2025: Europ Assistance Portugal has teamed up with insurtech Habit to leverage Habit’s embedded‐insurance platform and expand the distribution of Europ Assistance’s insurance and assistance products through new B2B2C channels, starting in travel and mobility and eventually branching into other sectors. By combining Europ Assistance’s decades of expertise and credibility with Habit’s seamless, scalable integration technology, the partnership aims to create smarter, more accessible offerings that can be integrated by any company with a sizable customer base, without complex in-house development.
May 08, 2025: bolttech has entered into a strategic partnership with Sumitomo Corporation, one of Japan’s largest trading houses, to form a joint venture that will deliver technology-enabled embedded solutions (such as end-to-end device lifecycle management services, including device upgrades) to distribution partners across multiple Asian markets, enhancing their ability to offer seamless and comprehensive protection experiences to customers in the region.
May 08, 2025: Allianz Partners Australia has teamed up with Norwegian Cruise Line (NCL) to launch a cruise-specific travel insurance product that travelers can quote and purchase directly through NCL’s online booking platform. This integrated policy offers essential cruise-focused benefits including onboard medical and evacuation coverage, cabin-confinement protection, and formal-wear reimbursement, seamlessly built into the standard travel insurance purchase flow on the cruise line’s website.
May 12, 2025: Decant Group, a leading private-client fine wine and spirits marketplace, has entered a long-term partnership with insurtech Embri to embed API-driven asset protection insurance directly into its Decant Index platform. Under the agreement, Decant will use Embri’s technology to offer seamless, on-demand coverage for clients purchasing whisky casks, fine wines, rare bottles, and other high-value spirit investments, ensuring real-time protection and peace of mind throughout the ownership journey.
May 20, 2025: Cytora and AISIX Solutions have partnered to integrate AISIX’s Wildfire 3.0 data into the Cytora underwriting platform, giving commercial insurers real-time access to advanced wildfire risk intelligence via API. This integration allows underwriters to evaluate exposure at both the individual asset and portfolio levels, improving speed, accuracy, and transparency in climate-aware underwriting decisions while aligning with regulatory frameworks like TCFD and ISSB.
News Releases and Launches
May 01, 2025: WTW, a leading global advisory, broking, and solutions company, announced the acquisition of CFS International Inc. (CFS) by Willis, a WTW business. This targeted acquisition represents continued investment in the growing trade credit business, as well as an expansion of geographic coverage and presence on the United States West Coast. CFS, which was founded in 1990, specialises in providing trade credit insurance solutions to global firms. Recognising the growing need for effective credit risk management in an increasingly complex and competitive environment, CFS built its reputation by assisting clients in competing globally through customised trade credit and trade finance programs.
May 06, 2025: Roadzen Inc. announced that its UK subsidiary, Global Insurance Management Limited (GIM), is partnering for three years with one of the world’s largest telematics providers to launch a Connected Vehicle Protection solution in the United Kingdom. The new offering combines real-time telematics-enabled asset-tracking hardware with Guaranteed Asset Protection (GAP) insurance underwritten by GIM. It will be distributed through both brick-and-mortar dealerships and OEM online sales channels via Roadzen’s Global Dealer Network platform. The product targets the £17 billion UK motor-insurance market. Roadzen projects it will generate seven-figure annual revenues. The initiative aims to address rising vehicle-theft rates and escalating insurance premiums. Initial rollout begins in the UK, with phased expansion planned across Europe.
May 07, 2025: PassportCard, a worldwide innovator in travel and health insurance, has acquired the technology platform and core team of Pattern, a U.S.- and Israel–based provider of embedded insurance solutions focused on booking and registration workflows. Pattern’s flexible, API-driven system allowed partners to seamlessly integrate insurance offerings into their customer journeys, with real-time risk evaluation, customizable integrations, and built-in compliance features. By bringing Pattern’s technology and expertise onboard, PassportCard broadens its global tech capabilities and accelerates the rollout of embedded insurance across both travel and digital channels.
May 13, 2025: Peak3 has rolled out Graphene v3, the latest iteration of its microservices insurance core platform, following nearly 100 bi-weekly releases and more than 1.5 million R&D hours- equivalent to a US $75 million investment-- since Graphene v2 debuted in 2021. Designed for digital-first and AI-first insurers across P&C, life, and health, Graphene v3 builds on the embedded-insurance capabilities of v1 (including stackable micro-policies) and the omni-channel, traditional lines support added in v2—extending everything from motor and property to health and savings products under one unified, scalable architecture.
May 21, 2025: Prudential Financial has chosen Neutrinos’ AI‐powered automation platform to enhance its Simplified Solutions unit, aiming to broaden access to life insurance particularly among the underserved mass middle market. Under this agreement, Prudential will integrate Neutrinos’ end‐to‐end digital experience to enable touchless servicing, embed distribution more efficiently, and reach customers in trusted digital environments.
May 21, 2025: Embri, an insurtech platform tailored to the high‐value and luxury retail market, has raised £57,711 on Crowdcube toward its broader £350,000 fundraising target; the company provides a streamlined, tech‐enabled insurance solution that simplifies coverage for luxury goods, and plans to use the funds to further develop its platform, expand market reach, and engage with its investor community to drive growth in bespoke retail insurance offerings.
May 27, 2025: Parametrix has introduced a new embedded insurance program designed to protect businesses from prolonged system outages caused by malfunctions in Endpoint Detection and Response (EDR) security tools. In response to the July 2024 CrowdStrike outage, this product offers up to $2 million in coverage per client, each with at least 100 protected endpoints, and is available exclusively through select security vendors. By backing warranties offered by premium EDR providers, Parametrix enables organizations to receive financial compensation when their critical cyber-defense systems fail, thereby reinforcing trust in digital security solutions.
Investments and Funding Rounds
May 08, 2025: London-based insurtech Loxa has raised €1.9 million in a Seed funding round—including €147 000 from the Angel Investment Network to accelerate its repair-first product protection platform for UK retailers. Founded in 2023 (formerly Bolt Cover), Loxa allows merchants of any size to embed customizable cover for repairable items such as furniture, eyewear, and power tools directly at checkout via its API or plugins for Shopify, WooCommerce, PrestaShop, and Magento. The new capital will fuel Loxa’s mission to rebuild trust in repair-first insurance, expand its technology footprint, scale operations, and drive the business toward profitability.
May 13, 2025: MarvelX, a Dutch AI startup founded by data scientist Ali el Hassouni, has secured $6 million in seed funding led by EQT Ventures, with additional backing from angel investors including executives from DeepMind, Plaid, Elastic, Coinbase, Partior, and Microsoft. The company will use the new capital to grow its team and enhance its products, centered around its ClaimOS MaX platform, a vertical, agentic AI “operating system” that automates complex back‐office workflows across the insurance industry. Early adopters like embedded insurer Companjon are already leveraging ClaimOS MaX to streamline claims processing, improve customer satisfaction, and reduce compliance risk by replacing fragmented systems and manual processes.
May 22, 2025: Irish insurance and HRtech company Kota has secured a $14.5 million Series A round bringing its total funding to $22.9 million and obtained Central Bank of Ireland authorization, making it one of the few regulated tech platforms in its space. The startup’s platform directly integrates with insurers and pension providers to give employees real-time access and control over benefits, while offering HR teams a single, unified interface to manage everything from enrolment to coverage. The new capital will be used to expand the team, onboard additional insurance carrier partners, and accelerate customer acquisition as Kota continues its mission to make employee benefits more accessible and engaging.
Hand-picked embedded insurance insights and news which are worth reading
How Embedded Insurance Is Transforming India’s Market…
#EmbeddedInsurance #Insurtech #DigitalIndia #InsuranceInnovation
Embedded insurance is rapidly reshaping India’s insurance landscape by offering seamless, context-specific coverage (e.g., trip insurance with ride-hailing apps or device protection when buying a smartphone). Driven by accelerated digital adoption during the COVID-19 pandemic, growing demand for targeted, cost-effective policies, and a pressing need to close India’s substantial protection gap, embedded solutions deliver enhanced customer experiences, especially for younger, digital-first consumers. Estimates forecast India’s embedded finance industry (including embedded insurance) to grow at 46 percent annually, reaching INR 1,61,442 crore by 2029. For insurers and partners, key benefits include faster market entry, expanded reach into underserved and rural segments, improved risk management through real-time data analytics, and the opportunity to identify and own new markets. Success in this domain hinges on operating as a truly digital-first insurer, leveraging API-driven architectures for seamless third-party integrations, utilizing real-time analytics for personalized coverage, and adopting comprehensive digital strategies rather than manual, legacy approaches.
Making Insurance Smart and Ubiquitous with AI…
#AIInInsurance #EmbeddedInsurance #Insurtech #DigitalInnovation #AITransformation
This article explains how artificial intelligence is embedding insurance into everyday digital interactions, like online checkouts and trip bookings, by enabling instant risk assessment and tailored policy recommendations. It highlights projections that embedded insurance could account for approximately 15 percent of global premiums within a decade, underscoring AI’s role in streamlining underwriting, claims processing, and customer service. As routine tasks become automated, new roles (e.g., AI model specialists and partnership managers) are emerging, and traditional underwriters are shifting toward data-driven strategists. Finally, it argues that insurers must adopt startup-style agility using pre-built AI tools to launch digital insurance products quickly and securely.
Optimizing Insurance Revenue for Property Managers…
#PropertyManagement #VacationRentals #InsuranceOptimization #RevenueGrowth #GuestExperience #Insurtech
This article explains how vacation rental managers can transform insurance from a cost center into a revenue driver while enhancing guest satisfaction. Rather than relying on large security deposits, which often deter bookings and create administrative headaches, forward-thinking managers are embedding tailored insurance options at the time of booking. This approach removes the adversarial nature of deposit disputes, reduces friction in the reservation process, and generates incremental revenue through policy attach rates. By aligning with today’s demand for frictionless and transparent transactions, managers also foster better guest relationships and long-term loyalty. The article recommends tracking key performance indicators such as conversion rates, average booking value, time spent on damage claims, and guest satisfaction scores, to continually refine the insurance offering and maximize profitability as well as positive guest experiences.
Open and Embedded Insurance White Papers
We have recently published three new white papers, in collaboration with Marsh, WTW and Kayna, and SAS.
SAS, in partnership with the Open and Embedded Insurance Observatory, recently carried out a survey focused on the growing parametric insurance sector. This market, fueled by the heightened occurrence and intensity of natural disasters along with a growing need for quicker and more transparent claims processing, is receiving close attention. The study investigates key growth drivers and challenges, examines the influence of data, AI, and modeling, and explores future trends within this evolving segment of the insurance market. To provide a well-rounded view, the survey gathered insights from a diverse group of participants including insurers, reinsurers, managing general agents, and brokers.
The Kayna and WTW white paper examines how vertical Software-as-a-Service (VSaaS) platforms uniquely address the insurance protection gap. By embedding insurance into their systems, VSaaS providers can deliver customized, accessible, and data-driven solutions tailored to SMEs. The report explores the rapid growth of VSaaS, the strategic advantages of embedded insurance, and the transformative role of insurtech-broker collaborations in reshaping the SME insurance landscape. Its conclusions are backed by industry research and a January 2025 survey of UK SMEs conducted by YouGov on behalf of WTW and Kayna
Our recent white paper, "The Future of Automotive Insurance Aftersales," created in collaboration with Marsh, explores emerging trends shaping the extended automotive warranty industry, including vehicle electrification and its implications for electric batteries. It examines the advantages of adopting digital tools and artificial intelligence (AI) within the aftersales process. Offering practical guidance, the report is designed to assist manufacturers, dealerships, and importers as they adapt to the evolving landscape of automotive insurance aftersales. The automotive sector is experiencing a profound transformation fuelled by technological innovations, evolving consumer demands, and new regulatory standards. The automotive extended warranty segment is expected to grow by 30% by 2029, reaching US$43 billion.
The full catalogue of our reports and white papers is available on our website at https://openinsuranceobs.com/
Reports by the Observatory
Our report, "Embedding Insurance in Digital Platforms and Marketplaces”. This report, developed in collaboration with Marsh and Sure, explores the growing importance of embedded insurance in the digital economy. It delves into how platforms and marketplaces can leverage innovative insurance solutions to mitigate risks, enhance customer trust, and fuel business growth. With case studies, market insights, and real-world examples, this report offers a strategic roadmap for businesses looking to capitalize on the emerging opportunities in the platform economy.
Insights and analysis from the Open and Embedded Insurance Observatory and its members. Including exclusive interviews, member profiles, analysis of the current open and embedded insurance marketplace, in-depth articles on trends and key topics, and a round-up of recent fundings and investments in this space.
Upcoming events of the Observatory
New York Plenary Meeting – 23 September
London Plenary Meeting – 11 November
More details will be available soon.
The Open & Embedded Insurance Observatory is supported by: Admiral, Ageas, AirHelp, AWS, AXA, bolttech, CDL, Datafolio, Dai-Ichi Life International, DB Schenker, Embri, Epoq, EY, FIT2YOU, Generali, Grab, Guardrisk, habit, HDI Embedded, Insurely, Jaguar Land Rover, LAMIE, Marsh, Meiji Yasuda, Metlife, Neosurance, Net Insurance, Onsi, Otonomi, Peak3, Quotall, Qover, Reale Mutua, SAP Fioneer, SAS, SimplyBusiness, Stere, Stripe, Sure, Swiss Re, Tokio Marine, Travelers, Wakam, Wolt, WTW.
For any information or request, feel free to reach out to us at info@openinsuranceobs.com.
This newsletter is curated by Aashima Malik Research Analyst at the Observatory.