Source: Telefónica Germany
Embedded insurance means insurance that is integrated into a third party’s products or services, whether it be insurance on the device when purchasing an electronic product, for example, or travel insurance. In future, O2’s private customers can book supplementary insurance digitally with just a few mouse clicks, and insure their everyday lives according to their needs. Billing is done automatically via the existing O2 invoice.
“O2 Care | Mobility” can be booked for €4.99 per month, with a minimum term of 12 months, using the digital O2 channels from O2 Mobile post-paid and O2 Internet@Home customers. After the minimum term has expired, the product package can be cancelled at any time with 30 days’ notice. The second product, “O2 Care | Travel” will follow in autumn 2024. Among other things, it will include international health insurance with repatriation, rescue and recovery costs, as well as seamless travel and emergency assistance. The insurance can be taken out for both individuals and families. Two further products for other areas will follow.
Mark Klein, Chief Digital Officer of the ERGO Group, said about the new products: “Embedded insurance is one of the most dynamic developments we are seeing in the digital insurance market today. It enables providers to combine traditional insurance policies with state-of-the-art technology and digital services. With embedded insurance, we are turning traditional insurance cover into ‘insurance-as-a-service’.”
