Embedded Insurance Solutions

Embedded insurance offerings represent the innovation fueling the evolution of insurance distribution globally – one where insurance coverage is offered to customers at the point of sale itself. The global embedded insurance industry is estimated to grow at a CAGR of 21% and reach $700bn in premium by 2030, according to analysis by Simon Torrance referenced in Fintech Futures. Carriers can leverage this channel by embedding insurance into products offered by banks, airlines, automobile manufacturers, logistics, e-commerce platforms, and others. This presents an opportunity for carriers to increase penetration and grow revenue. Retailers benefit by delivering insurance coverage at the point of sale and earn loyal customers by helping customers protect purchases with a hassle-free experience.

Duck Creek enables carriers and distribution partners to address this market with its embedded insurance solution. Duck Creek offers comprehensive line of business content to support a wide variety of products. These include personal lines, commercial lines, and specialty lines, such as Cyber, Medical Professional Liability and others. Leveraging the low-code configuration capabilities of the Duck Creek platform, Duck Creek Policy can be configured to support dynamic product selection, coverage recommendation, and dynamic pricing support enabled by AI/ML capabilities. An ecosystem of partner solution integrations is also available to deliver cutting edge data and analytics that carriers need to stay ahead of competition, achieve operational efficiency and grow market share.