The key to helping companies unlock digital and embedded insurance
At the recent ITC DIA Europe 2023 event in Barcelona, our co-founder and CEO, Louw Hopley, featured in a show-and-tell session in which he talked delegates through how Root helps insurers and affinity brands get to market fast.
Using the Root Workbench toolkit, Louw launched by way of example a new end-to-end pet insurance policy live on stage in minutes and then demonstrated the ease with which the product could be adapted with new features and benefits.
During the ‘Show and Tell’ presentation, Louw told attendees:
“Embedded insurance is not a new concept; it’s been around for decades but it’s only been picking up recently because of tech enabling and fuelling the adoption and possibilities behind that.
Where we operate at Root is in enabling insurers to sell their products in various ways through big brands. We have already launched 58 new embedded insurance products - with around one million subscriptions and policies actively running – and through that, we have learned that two key things stand out and often block embedded insurance from working.
The first is ease of integration – great APIs, great developer documentation and experiences that can get non-insurance businesses to integrate and make insurance part of their journeys. The second is ultimate flexibility – that is to say the ability to mould the insurance product and the way it is delivered into the customer experience that exists in a white label or affinity brand. We have solved that by taking a much more developer-first approach and we focus on that experience.”
Thank you once again to the ITC DIA Europe community for hosting such a great event.
If you are curious about how Root's Workbench looks or works, check it out here.
