Key Takeaways:
- bsurance is pioneering a model for embedding insurance in the retail process.
- The InsurTech startup offers a unique digitalised, individualised, and embedded insurance product.
- By integrating right into the sales process, bsurance streamlines insurance for both businesses and customers.
- The impact of this approach could transform the future of InsurTech, making it a crucial component of any purchase or service.
- bsurance could be instrumental in leading this wholesale transformation of the insurance industry.
In the rapidly evolving landscape of the FinTech and InsurTech industries, one company is making a name for itself with a revolutionary concept: embedding insurance in the retail process. This is Austria-based bsurance, an InsurTech startup with a distinct B2B2C business model that is transforming how insurance products are delivered and accessed. They operate by digitising, individualising, and innovating insurance products, embedding these right into existing sales processes and points-of-sale.
The idea is simple but effective: insurance should not be an afterthought or a separate, tedious process. Rather, it should be a direct and integral part of buying a product or service. Hence, through the power of modern technology and digital interfacing, bsurance aims to give end-customers an easy and practical access to fair and relevant insurance products, right at the point of purchase.
What sets bsurance apart is its ability to embed these insurance products into existing sales processes seamlessly. They’ve developed a cloud-based insurance management platform using REST APIs, serving as a bridge between B2C cooperation partners and insurance product providers. Furthermore, the entire process is digital end-to-end. The policies can be issued instantly, and services such as billing and handling of claims are taken care of efficiently.
Another differential is that bsurance does not merely offer insurance; it provides a wholly enhanced shopping experience. They create a unique added value to products or services, giving B2C partners a powerful competitive advantage, potential for increased sales and customer loyalty, and an opportunity to develop sustainable ecosystems. For insurance partners, the perks include access to new customer segments, heightened sales, and streamlining of administrative tasks.
The prospects for bsurance are exciting. Aided by digitalisation’s rapid advance, the role of InsurTech in retail could be significant, bringing about a shift in how customers relate to insurance. The integrated approach reduces the friction associated with purchasing insurance, potentially leading to increased uptake, better customer experience, justified insurance pricing, and more product bundling.
As the retail industry continues to evolve, the role of InsurTech is set to become even more central. bsurance, at the forefront of this development, is well placed to reap the benefits of this evolving market. With its innovative approach, it looks poised to transform the realm of embedded insurance. Learn more about the company and its offerings on their website (www.bsurance.com) and social media channels: Twitter, Facebook, and LinkedIn.
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