How embedded insurance can close the coverage gap

The digital distribution of insurance is increasingly focusing on embedded insurance. Customers can simply add insurance cover that suits their needs and budget as part of a customer journey connected to a known demand by making insurance available in conjunction with other items on established online services. Meanwhile, insurers offer more convenience and associate insurance cover with well-known and dependable brands. The possibility to considerably increase the reach of insurance, inform customers, and guarantee universal financial security is embedded insurance's most significant opportunity. Point of discussion: 1.How embedded insurance can help close the missing opportunities to deliver the products that customers wants? 2. In Embedded insurance concept, the main aim is to offer insurance products through seamless digital customer journeys, bundled as an add-on to a third-party product or service. Do you see this solving the customer onboarding challenges in insurance? If so, how? 3. The future of insurance is going to be embedded and having said that, how do you see insurance companies becoming a part of embedded ecosystem? Can you also touch upon the key stakeholders in an embedded insurance channel? Any examples? Speaker Bio: Paul Prendergast is the CEO & Co-founder of Kayna Innovation. Paul is a serial entrepreneur and former winner of the Deloitte Fast 50 for the fastest growing technology company in Ireland. He co-founded Kayna with Peter Bermingham in October 2021. Their previous venture, Blink, founded in 2016 and acquired by CPP Group (AIM CPP) in March 2017 delivered the world’s first real-time resolution flight cancellation insurance product and was the only Insurtech as part of the first cohort of the FCA’s sandbox ‘safeplace to innovate’ programme. Paul led the company to make TheINSURTECH100 for 2019 & 2020, an annual list of the worlds’ most innovative Insurtech companies and was selected for the fifth cohort of the prestigious Lloyd’s Lab innovation accelerator programme in 2020 focusing on parametric Business Interruption insurance solutions.