Source: Insurance Thought Leadership

Accenture defines embedded insurance as any insurance that can be purchased within the commercial transaction of another product or service. That covers an enormous playing field.

The embedded insurance market is expected to grow from $156.06 billion of gross written premiums in 2024 to more than $700 billion by 2029, a CAGR of 35%.

Embedded insurance addresses the issue of underinsurance or lack of awareness by providing coverage that is relevant and easily accessible to customers. Embedded insurance has even more potential to enhance customer engagement and loyalty. Insurers could create personalized and contextually relevant offerings by integrating insurance seamlessly into everyday products or services. Both traditional insurance companies and insurtech startups have been exploring embedded insurance opportunities, according to Modor Intelligence research. 

Read the full article: https://www.insurancethoughtleadership.com/ecosystems/embedded-insurance-major-disruptor