Open & Embedded Insurance Observatory

SunCar Technology Group, an innovative leader in auto e-insurance and cloud-based B2B auto services in China, announced the significant expansion of its strategic partnership with one of the world's foremost electric vehicle manufacturers. The collaboration has experienced remarkable growth, demonstrating SunCar's expanding influence in China's evolving automotive services sector. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with a wide range of auto services and insurance coverage options through a nationwide network of sales partners. The Company's AI-powered infrastructure has been instrumental in optimizing service delivery and resource allocation. SunCar's advanced insurance renewal system now serves over 2 million owners of our partner's electric vehicles, showcasing the Company's technological capabilities and market reach. This digital transformation sets new standards for efficiency and customer service in the automotive sector. "As artificial intelligence reshapes the automotive industry, SunCar continues to pioneer innovative solutions that address the evolving needs of vehicle owners," said Ye Zaichang, Chairman and CEO of SunCar Technology Group Inc. "Our expanding partnership with this leading EV manufacturer strengthens our position in China's rapidly growing electric vehicle market while demonstrating our commitment to technology-driven service excellence." https://lnkd.in/egnx6dU6 #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership

Generali Hong Kong has partnered with YAS to deliver innovative, customer-centric insurance solutions that adapt to modern lifestyles. This collaboration focuses on leveraging cutting-edge technology to enhance the customer experience and provide tailored protection. Built on the foundation of their success in on-demand microinsurance, this partnership introduces dynamic, real-time insurance offerings that seamlessly integrate into customers’ lives. Windian Lai, Chief Business Officer and Intermediary Management of Generali Hong Kong, said, “This partnership with YAS allows us to integrate technologies such as GPS and AI into our personal lines underwriting. These tools enable us to deliver real-time solutions that adapt to customer lifestyles, ensuring a seamless and personalized experience.” William Lee, Co-Founder of YAS Group, added, “Customers today demand more than traditional insurance; they want solutions that fit seamlessly into their lives. This partnership with Generali Hong Kong allows us to lead the industry into a new era of autonomous, always-on insurance solutions that resonate with the modern lifestyle.” https://lnkd.in/guT4NWDS #OpenInsurance #Insurance #EmbeddedInsurance #Insurtech #Partnership

The QBE North America Foundation announced that it has partnered with nonprofit InnSure and the City of Salem, Massachusetts, to implement a pilot program aimed at increasing resilience to climate-driven flood risks. This public-private partnership will evaluate measures that lower flood risks for homeowners and renters, while also mitigating community-wide vulnerabilities to flash flooding. “As climate change accelerates extreme weather patterns and the natural catastrophe insurance protection gap in the United States grows, it’s critical to reward community and government mitigation efforts and integrate insurance solutions early in the planning process,” said Charlie Sidoti, Executive Director, InnSure. “This collaboration with the City of Salem is a promising opportunity to test new insurance models at the community level, and we’re excited to partner with the QBE Foundation and local leaders on this initiative.” "At QBE, we are committed to helping create strong, resilient and inclusive communities,” said Julie Wood, CEO, QBE North America. “We recognize the important role insurance plays in supporting communities to build resilience and mitigate against climate risk.” https://lnkd.in/eejMMPRK #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership

We are excited to announce that Paul Prendergast, CEO of Kayna Innovation, will be speaking at our London Plenary Meeting on 18th March 2025! Paul Prendergast is a serial entrepreneur and former winner of the Deloitte Fast 50 for the fastest growing technology company in Ireland. Kayna is a Lloyd’s Lab Accelerator Programme Cohort 9 alumnus and winner of the InsurTech NY’s Carrier/Broker Competition for Global Early-Stage Insurtech in 2023. Meet Paul and the team at the upcoming Open & Embedded Insurance Observatory plenary in London 18th March 2025. Register here: https://lnkd.in/e9GXQGFK #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Technology 

Amidst strong competition, retaining customers is critical for manufacturers and other organizations in order to sustain their market share and reach revenue targets. Extended warranty programs have emerged as a strategic solution that provides these organizations with an efficient way to maintain customer engagement well beyond the initial purchase. In this episode of Risk in Context, Phil Hobson, who leads Marsh’s International Affinity, speaks with Arun Narayanan, International Digital Leader and Chief Operating Officer for International Affinity, and Alessandro Filon, Affinity European Sales Leader. They discuss the multifaceted benefits of warranty programs, explore how they can foster customer loyalty, and speak about the importance of data in identifying potential risks and informing product improvements. https://lnkd.in/e2dPkcmt #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Affinity

🚀 We're Growing! Join Our Journey! 🌟 Delighted to share that our team is expanding! We are looking for three profiles in the central digital B2B2C partnerships team, working on the launch & scale up of next-generation distribution partnerships with digital platforms across priority markets in Europe and Asia. If you're a great person to be around, passionate about innovation and eager to make a significant impact, we want to hear from you! Join us in shaping the future of digital partnerships and be part of a brilliant team across Brussels and Hong Kong locations. 🚀 Apply now and let's create something amazing together! 🌱 🔹 Position 1: Digital Platforms - Insurance product lead https://lnkd.in/gjqHXPjf 🔹 Position 2: Digital Platforms - Omnichannel commercial lead https://lnkd.in/gNg4hVsW 🔹 Position 3: Digital Platforms - UX/UI Front-end developer https://lnkd.in/gaqwQWMN #Hiring #Digitalplatformpartnerships #B2B2C #JoinOurTeam #Innovation #CareerOpportunities

DriveX Technologies raised $1.2 million to enhance its AI-powered windshield damage detection technology and expand its capabilities. Glass damage accounts for 40% of all vehicle insurance claims, making DriveX’s solution valuable for insurers and repair companies seeking to streamline damage assessments through customer self-service. The AI-driven tool helps determine whether repairs or replacements are needed, reducing unnecessary windshield replacements. “Handling glass damage is our next step in making vehicle repairs more economically and environmentally fair. Looking ahead, I see significant waste and inefficiencies in the repair of other assets as well, such as buildings or consumer electronics. The European Parliament’s ‘Right to Repair’ initiative is providing strong momentum for creating a sustainable future, and we aim to become a leader in this space.” – Rauno Sigur 🇪🇪, CEO of DriveX. https://lnkd.in/ewi7azAb #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Funding

𝗘𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀 𝗮𝗻𝗱 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 Embedded technologies allow customers to purchase insurance as part of a process they are familiar with instead of being an ad-hoc event, bringing convenience and ease of use. Embedded insurance is fundamentally changing how consumers engage with insurance and the mode of insurance sales. Written by Dennis X. Li, FSA Embedded insurance (also known as IaaS, Insurance-as-a-Service) in the U.S. market is gaining popularity in the age of information and rising consumer expectation of convenience. Insurance products previously purchased in a standalone fashion are now available as an integrated experience. Mature insurance application programming interfaces (APIs) and accelerated underwriting have enabled the integration of insurance with non-insurance digital products, platforms and services. However, the conversation about embedded insurance has largely remained within the P&C space over the past years, and for a good reason. In comparison with P&C products, such as warranties, rent insurance, jewelry insurance and even homeowner/auto insurance, personal life and supplemental health insurance are non-compulsory, mostly not use-case specific, require a decades-long financial commitment and are much more complex. These headwinds make it challenging to embed life and supplemental health products in a way that would attract consumers, and most embedded partnerships for L&H products did not last long. https://lnkd.in/efmNZBgX #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech

RAVIN.AI, a leader in AI-powered vehicle inspections, has partnered with Five Sigma - AI-Native Claims Management, an innovator in AI claims management technology, to revolutionize auto claims processing. Through this partnership, RAVIN’s DeepDetect™, an AI vehicle assessment, has been integrated with Five Sigma’s end-to-end CMS and Clive™, the insurance industry's first AI Claims Adjuster, delivering next-level automation and efficiency to auto insurers. Oded Barak, Co-Founder and CEO at Five Sigma said, “Our partnership with Ravin AI is another step in our Automation First philosophy for claims management, integrating various AI tools and use cases with Clive, our AI Claims Adjuster. By integrating Ravin’s advanced technology with Five Sigma’s technology, we are empowering insurers to reduce cycle times, and improve accuracy, all while boosting operational efficiency”. Eliron Ekstein, CEO of Ravin AI, added, “This partnership with Five Sigma is a game-changer for the insurance industry. By combining our AI-driven vehicle assessments with Five Sigma’s claims platform and Clive, we’re helping insurers streamline the claims process, enhance customer satisfaction, and reduce costs—all while driving innovation in auto insurance.” https://lnkd.in/ecj9b6fH #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership

We are excited to announce that Andrea Battista, CEO of Net Insurance will be speaking at our London Plenary Meeting on 18th March 2025! Meet Andrea and the team at the upcoming Open & Embedded Insurance Observatory plenary in London on 18th March 2025. Register here: https://lnkd.in/e9GXQGFK #EmbeddedInsurance #OpenInsurance #InsurTech #Insurance #Technology