The monthly newsletter of the Open and Embedded Insurance Observatory
Month of April 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 April 01- April 30, 2025.
We hope you find these resources beneficial for your business.
Market Intelligence
Embedded Insurance Partnerships
April 02, 2025: Event organisers in Brazil now have easier access to Public Liability Insurance thanks to a new partnership between event platform Sympla, global insurtech company discovermarket, and insurer Chubb. The launch of "Evento Seguro by Chubb" represents a significant step forward in making insurance more user-friendly, transparent, and convenient for event organisers across the country. The solution allows Sympla users to buy insurance tailored to their event needs via a digital platform created by discovermarket. This streamlined process is entirely online, eliminating the need for long forms and complex policy comparisons. Instead, organisers simply answer two questions to receive a personalised quote, making insurance faster and easier to obtain.
April 09, 2025: AXA Hong Kong and Macau has entered into a strategic alliance with Ant Bank (Hong Kong) and AlipayHK to distribute insurance offerings via the Ant Bank Mini App on AlipayHK. This collaboration brings savings, health protection, and wealth‑accumulation solutions to AlipayHK’s more than 4.2 million users. By combining AXA’s insurance expertise with Ant Bank and AlipayHK’s “E‑wallet × Digital Bank” framework, customers gain seamless access to embedded insurance services. The initiative aims to simplify the application journey while broadening the reach of financial protection and wealth‑management products. At launch, AXA will make its key life‑and‑savings plans available on the platform, including the FortuneXtra Savings Plan, Wealth Ultra Savings Plan, Max Wealth Insurance Plan, and Max Goal Insurance Plan.
April 09, 2025: Luxury Escapes, Australia’s premier exclusive travel curator, and embedded-protection innovator Cover Genius have deepened their longstanding collaboration by introducing Cancellation Protection. This new offering is available to Australian and New Zealand residents booking domestic travel—and to international guests worldwide. By extending their partnership, both companies reaffirm their dedication to delivering exceptional customer experiences. Travelers departing from Europe, North America, the Middle East, and Asia can now book with confidence, knowing an easy, end-to-end claims process covers them. Cancellation Protection guarantees a full refund if unforeseen circumstances, such as illness, injury, pre‑existing medical conditions, flight cancellations or delays, severe weather, document theft, transportation breakdowns, home emergencies, professional commitments, workplace redundancy, and other unexpected events disrupt plans.
April 21, 2025: SPB Poland announced a strategic partnership between SPB Polska, iDream (an authorized Apple Premium Reseller), and insurer Warta to launch embedded insurance for Apple devices in Poland. This initiative offers customers seamless protection for iPhones, iPads, and MacBooks directly at the point of sale in iDream stores, with plans to expand online via iDream.pl. The insurance covers damage, theft, and breakdowns, with all repairs conducted at iDream’s Authorized Service Center using original Apple parts, ensuring restored functionality to factory standards. This collaboration exemplifies the growing trend of integrating insurance into consumer electronics retail, providing customers with convenient, high-quality protection for their digital lives
April 22, 2025: MoneyHero, a leading personal finance and digital insurance brokerage platform in Greater Southeast Asia, has partnered with global insurtech bolttech to launch an end-to-end car insurance purchasing journey in Hong Kong. This collaboration enables customers to compare real-time insurance quotes, customize coverage options, and purchase policies directly on MoneyHero’s platform without redirection to third-party sites. By integrating bolttech’s advanced insurance exchange technology, the platform ensures accuracy, efficiency, and a seamless user experience, marking a significant advancement in Hong Kong's digital insurance landscape. Hong Kong’s motor vehicle business recorded gross written premiums of over HK$5 billion, with insurance penetration reaching 17.2% in 2023. This presents a compelling opportunity for transformation through data-driven, embedded distribution. For insurers, this enhancement translates to a higher volume of policies sold and improved customer acquisition, solidifying MoneyHero’s position as a valuable digital distribution partner in the evolving insurance landscape.
April 23, 2025: SECUTIX, a leading provider of digital ticketing solutions, has partnered with insurtech firm Cover Genius to introduce an embedded ticket protection offering. This collaboration enables SECUTIX clients—such as sports venues, cultural institutions, and live entertainment organizers—to offer ticket buyers optional refund protection directly within the purchase process. The protection covers unforeseen circumstances like illness or injury that prevent attendance, providing customers with a clear refund policy and enhancing confidence when booking. For event organizers, the integration offers an automated refund process, reducing administrative burdens and improving customer satisfaction.
April 28, 2025: Allianz Direct has announced a strategic partnership with ING Deutschland to offer fully digital motor insurance products to ING Germany's retail customers. Set to launch in the fourth quarter of 2025, this collaboration will enable customers to access Allianz Direct's insurance solutions seamlessly through ING's app and website. The partnership aims to deliver competitive digital offerings, premium products, and an exceptional customer experience, reinforcing Allianz Direct's commitment to expanding its presence in the digital bancassurance sector across Europe.
April 30, 2025: Companjon, a leading insurtech company specializing in embedded insurance solutions, has partnered with Omio, a global multi-modal travel booking platform, to expand their "Cancel For Any Reason" (CFAR) offering, Omio Flex, worldwide. Initially launched in the European Economic Area and the UK, Omio Flex allows travelers to cancel train and bus bookings for any reason up to 15 minutes before departure, with compensation of up to 100% of the fare, depending on the fare type. This service is fully integrated into Omio's booking platform, providing a seamless user experience without requiring any documentation or justification for cancellations. Companjon underwrites and manages the risk for this product, leveraging its AI-driven, cloud-based platform capable of issuing thousands of policies per second. The global rollout reflects both companies' commitment to enhancing travel flexibility and customer satisfaction through innovative, embedded insurance solutions.
News Releases and Launches
April 07, 2025: MT Network Services PCL and Axinan Thailand Co Ltd formed a joint venture (JV) in Thailand. JMT Network Services is a subsidiary of Thailand's Jaymart Group, while Axinan Thailand Co Ltd is the Thai subsidiary of the Axinan Group. The Singapore-based Axinan Group runs the leading regional insurtech brand 'Igloo'. The JV will use Jaymart Group's extensive retail network and Igloo's market-leading insurance technology and capabilities to create Thailand's first true digital insurer. This will involve designing and delivering digitally differentiated insurance products as well as cutting-edge/industry-leading insurtech solutions tailored to Thai businesses and consumers. In Thailand, digital insurance growth has consistently outpaced general insurance growth over the last five years, indicating a shift in consumer purchasing preferences.The joint venture lays the foundations for a digital-first insurance future, which is agile, scalable, and designed for the next generation of Thai consumers.
April 08, 2025: LeagueApps, the leading youth sports management platform, strengthens its commitment to protecting youth sports organisations and communities by introducing Registration Protection, a collaboration with Vertical Insure, and e-signature capabilities for waivers and agreements. LeagueApps' most recent innovations in safeguards for youth sports organisations and communities support the company's mission of providing organisations with the tools, data, services, and community they need to run sustainable, safe, and successful youth sports programs. One key principle of LeagueApps' mission is accountability. Great youth sports leaders understand that safe, positive experiences always take precedence over profit. LeagueApps' collaboration with Vertical Insure includes Registration Protection, an optional add-on that reimburses families up to 100% of unused fees if a participant withdraws due to unforeseen circumstances such as injuries or illnesses.
April 10, 2025: ISC, a multiline program administrator supported by global investment firm KKR, has acquired TravelInsurance.com—one of the largest independent travel‑insurance marketplaces in the U.S. ISC plans to deploy its capital, expertise, and technology to broaden TravelInsurance.com’s reach and cement its status as the world’s premier travel‑insurance platform. Launched over ten years ago, TravelInsurance.com enables consumers to compare and buy travel insurance online. Having served millions of customers and safeguarded billions in trip expenses, the site will continue operating under its established brand.
April 10, 2025: Embri, the embedded‑insurance platform that enables retailers to offer seamless protection at the point of sale, has launched a new funding round on Crowdcube. The raise—now in early‑access—opens to the public at the end of April and will fuel Embri’s next growth phase as it scales across the UK retail sector and beyond. By integrating Embri’s tech‑enabled, fully compliant insurance solution directly into checkout, non‑insurance brands—from luxury goods and technology to construction tools and cycling retailers—can effortlessly provide protection to their customers. With its inaugural client secured and strong demand evidenced by new commercial deals, Embri is primed for rapid expansion. The Crowdcube campaign invites everyday investors to join Embri’s mission to make insurance simpler, more relevant, and more accessible for today’s consumers. As the embedded‑insurance market races toward an anticipated $700 billion globally by 2030, Embri is perfectly positioned to lead a new era of customer‑first, technology‑driven insurance.
April 14, 2025: Ageas, a Belgian insurance group, has reached an agreement to acquire UK-based digital personal lines insurer esure from Bain Capital for approximately £1.295 billion (€1.51 billion). This strategic acquisition aims to establish Ageas as the third-largest personal lines insurance provider in the UK, enhancing its presence in the motor and home insurance markets. The acquisition aligns with Ageas's strategic plan, Elevate27, to expand its footprint in core European markets. By integrating esure's digital capabilities and strong brand portfolio, Ageas aims to diversify its distribution channels, combining direct-to-consumer, broker-led, and price comparison website strategies. The merger is expected to yield annual cost savings exceeding £100 million before tax and enhance Ageas's return on equity by more than one percentage point. This acquisition marks a significant step for Ageas in strengthening its position in the UK insurance market, following its previous attempts to acquire other UK insurers.
April 15, 2025: Helios Global Payments Solutions Inc., a leading global workforce management and payments platform, has announced a strategic integration with Kota, an embedded insurance provider. This collaboration aims to expand benefit access for customers by integrating Kota's embedded insurance solutions into Helios' platform. As a result, users will gain instant access to popular health and wellness benefits, enhancing the overall value proposition for Helios' clientele. The integration of Kota's embedded insurance solutions into Helios' platform is designed to provide users with seamless access to health and wellness benefits. This move is part of Helios' broader strategy to enhance its service offerings and provide comprehensive solutions to its clients. By incorporating Kota's capabilities, Helios aims to offer a more robust and diversified benefits package to its users, thereby improving customer satisfaction and engagement.
April 15, 2025: Progressive Insurance has appointed Volvo Car Financial Services U.S., LLC as an agency partner, effective April 2, 2025. This strategic move signifies a shift in Volvo's insurance distribution in the U.S., transitioning from its previous partnership with Liberty Mutual, which began in 2018, to a new collaboration with Progressive. Under this new arrangement, Progressive will underwrite auto insurance policies for Volvo customers in the U.S., while Volvo Car Financial Services will act as the agency partner, distributing these policies. This collaboration aims to provide Volvo customers with streamlined access to insurance products directly through Volvo's financial services arm, enhancing the overall customer experience. The partnership reflects Progressive's strategy to expand its distribution channels and Volvo's commitment to offering integrated services to its clientele. By aligning with Progressive, Volvo seeks to leverage the insurer's extensive coverage options and customer service capabilities to better serve its vehicle owners.
April 16, 2025: Qover, the European insurtech scale‑up, has launched an API‑driven, omnichannel motor‑insurance platform for BMW and MINI in Ireland underwritten by Wakam. Live since April 16, 2025, the solution lets customers obtain quotes, purchase, and manage flexible on‑demand policies—complete with EV‑and‑hybrid add‑ons like battery and charging‑cable cover—either online, at dealerships, or via call‑centre. Embedded at the point of sale, the platform leverages modular APIs for rapid integration into OEM websites and dealer systems, creating a seamless bundled experience that boosts dealer revenues and digital engagement. With Ireland’s motor‑insurance market poised at €2.52 billion in gross written premiums this year, Qover’s pilot aims to validate its model before broader European rollout, strengthening its position in the fast‑growing embedded‑insurance sector.
April 16, 2025: INSHUR has rolled out an on‑demand insurance product for Uber Eats two‑wheel couriers in the Netherlands, providing third‑party liability cover tailored to scooter and moped deliveries that traditional personal auto policies omit. Building on its 2020 collaboration with Uber for driver insurance, INSHUR’s new offering lets couriers activate coverage only during active delivery hours—ensuring protection against material damage or bodily injury claims without paying for idle time. With the Dutch grocery delivery market set to grow revenue by 11.5% in 2026 and meal‑delivery users projected to reach 11 million by 2029, this flexible, usage‑based solution addresses riders’ unique risks and underscores both companies’ commitment to supporting the booming on‑demand economy
April 16, 2025: FINEOS Corporation, a leading provider of core systems for employee benefits, has partnered with Wellthy, a personalized care concierge platform, to enhance the benefits ecosystem with embedded care concierge services. This collaboration integrates Wellthy's hands-on caregiving support directly into the FINEOS AdminSuite, enabling insurers to offer comprehensive, human-centered benefits that address the diverse needs of employees and their families. Through this partnership, benefit carriers can seamlessly embed Wellthy's services into their existing systems, facilitating real-time data exchange and automating care management processes. This integration allows members to access personalized support from dedicated care experts, helping them navigate complex caregiving challenges such as elder care, childcare, special needs, and chronic conditions. By streamlining access to these resources, the collaboration aims to reduce administrative burdens for insurers and improve operational efficiency.
Investments and Funding Rounds
April 23, 2025: Steadily, a U.S.-based insurtech specializing in landlord insurance, has secured $30 million in a Series C funding round led by Two Sigma Ventures, bringing its total funding to $89.5 million and valuing the company at $355 million. The round also saw participation from Zigg Capital, Clocktower Technology Ventures, Belfer Investment Partners, Nine Four Ventures, and Matrix Partners. Founded in 2020, Steadily offers landlord insurance across all 50 U.S. states through a combination of five MGA programs, an insurance agency, and its own carrier, Steadily Insurance Company, which began underwriting property and casualty dwelling fire business in late 2024. The company reports over $250 million in annualized gross written premiums.
Hand-picked embedded insurance insights and news which are worth reading
Personal lines insurance distribution poised for the fastest growth in embedded insurance…
#Embedded insurance #Growth #Personal lines
Industry experts see embedded insurance as the leading growth driver for personal lines distribution over the next five years, according to a GlobalData poll. In a Q1 2025 survey on Verdict Media platforms—drawing over 170 insider responses—31.6% identified embedded insurance as the channel with the greatest expansion potential. That share far exceeds those backing direct‑to‑consumer models (18.4%) or traditional broking networks (17.2%), the next most popular options.
Embedded Insurance: Transforming Protection Through Seamless Experiences…
#Embedded insurance #Protection #Seamless experience
As a proud member of our community, Habit brings forward a powerful perspective on the future of protection. In this insightful piece, they explore how embedded insurance is transforming the way we think about coverage—making it seamless, intuitive, and deeply aligned with the customer journey. We encourage our readers to dive into the article and discover why this shift matters more than ever. João Madureira Pinto explains how embedding insurance into everyday transactions—like purchasing a phone or booking travel—makes coverage more accessible, relevant, and effortless. The article highlights different types of embedded insurance (invisible, opt-in, post-purchase) and emphasizes its role in improving customer experience, expanding protection, and opening new revenue streams for businesses.
Open and Embedded Insurance White Papers
We have published nine white papers in collaboration with SAS, Kayna, WTW, Marsh, ELEMENT, Fit2You, Sapiens, Wakam, and Generali.
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.
This playbook – created in conjunction with ELEMENT – sheds light on how MGAs looking to distribute insurance products in the EU are able to leverage the capabilities of an insurer that is specialized in risk transfer to access additional capacity, allowing them to model, manage and deliver personalized customer solutions.
The SAS white paper: Based on new research from SAS and the Open and Embedded Insurance Observatory, this report tracks current trends in the embedded insurance space. It identifies levels of data sharing between insurers and tech enablers, the impact of process automation and how customer experience (CX) is measured - highlighting opportunities for insurers to gain significant business advantages by making optimal use of their data.
The Fit2You white paper provides an introduction to embedded insurance in the mobility space, demonstrating the value that can be added for all stakeholders when embedding insurance as part of a mobility offering. It explores the societal trends and technological advancements that make this type of insurance offering so valuable. And looks at the future potential market of embedded insurance in the mobility sector.
The Sapiens white paper explores how automation is reducing complexities in insurance products and processes - and improving insurer-retailer relationships. It explains how embedded insurance is key to simplifying insurance across the entire value chain and shows how - with the right technology partners - insurers and retailers are empowered to meet consumers' protection needs quickly, efficiently, and affordably.
The Wakam white paper is a playbook that provides an introduction to embedded insurance for non-insurance brands. The playbook scrutinizes the copious benefits of embedding an insurance proposition, provides insights into the various embedded insurance models, and explains how embedded insurance has a real impact on societal trends and consumer needs. It also explains how to easily set up an embedded insurance offering, details real-world use cases, and defines a strategy to ensure your insurance solution's successful implementation. You can download it from the button below.
The Generali white paper investigates and analyzes emerging models in the field of digitally embedded health services and health insurance. Embedded health ecosystems offer insurers an unprecedented opportunity to expand their offering while also contributing shared value to all stakeholders. This paper evaluates the current market for Embedded Health Insurance and Services, examines some of the market leaders, and reveals how insurers can remain competitive in an evolving landscape. You can download it below.
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.
2025 Singapore Plenary Meeting
The Open & Embedded Insurance Observatory will hold its second plenary meeting of 2025 on June 2nd in Singapore.
Venue: Guoco Midtown, 128 Beach Rd, Singapore
Time: 2 June, 1:30 pm to 6 pm
Agenda Highlights:
Panel: The State of Embedded Insurance in Asia - With speakers from Marsh, Igloo, Insurtech Asia, and Tenity
Report Presentation from discovermarket
CEO Chat with Rob Schimek (bolttech) and a second CEO to be announced soon
Panels on growth levers, data, and future outlook featuring leaders from Lazada Insurance, Klook, Synpulse, Swiss Re, Ageas, EY, and more
Networking opportunities with peers from the region and beyond
Confirmed attending companies include: Insurtech Asia, bolttech, Swiss Re, Zurich, Grab, Tokio Marine, Klook, EY, Reebelo, and more.
The meeting is part of the annual activities of the Observatory, and will be the opportunity for the members to gather in person, network and take part in a series of keynote speeches and panel discussions on the most relevant topics of the embedded and open insurance domains.
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.