Source: Insurance Edge
The new embedded insurance offering is designed to provide trades professionals with peace of mind by safeguarding their valuable tools against risks such as theft – a growing concern in the construction and trades sectors. Recent data shows that upwards of £94 million worth of tools were reported as being stolen across the London Boroughs alone in 2024, with West Yorkshire being the most at-risk region outside of London, and 3,048 reported cases across the year. In addition, 86% of UK trade professionals worry about tool theft, with three in five (58%) worrying daily.
Robert McCarthy, Non-Executive Chair of Embri and former retail executive at John Lewis and Waitrose, welcomed the partnership: “Embri’s innovative approach to embedded insurance means that customers can now protect their purchases immediately, as part of their buying journey. This not only simplifies the process but also ensures that people can enjoy their valuables without worry from the moment they checkout online. Our partnership with SGS Engineering is a testament to how embedded insurance can deliver real value to customers while driving new revenue opportunities for retailers.”
Neil Samson, CEO, SGS Engineering added: “This pioneering embedded insurance offering reflects SGS Engineering’s commitment to providing not only the best tools, but also the best customer experience. By offering protection at the point of purchase, SGS Engineering is empowering trades professionals to focus on their work with the confidence that their essential equipment is covered.
“We recognised there was a significant gap in the market for appropriate, quality insurance offerings tailored to the high-end tools professionals rely on daily. Trades professionals need coverage that is as robust and reliable as the tools they use, ensuring their livelihoods are protected against unforeseen setbacks. This initiative strengthens their resilience by providing seamless, hassle-free protection, reinforcing our dedication to supporting customers with solutions that truly meet their needs.”
Read the full article: https://insurance-edge.net/2025/02/21/embri-teams-up-with-sgs-engineering-on-embedded-offer/
