Property Players Demand Convenience While Poor Customer Outcomes Spur a Shift Toward Embedded Insurance at the Cost of Traditional Insurers
NEW YORK, Dec. 07, 2022 (GLOBE NEWSWIRE) -- New research shows that due to convenience, customers worldwide intend to switch to embedded insurance sources in the future (+36%) at the cost of traditional insurers (-14%). However, despite their desire for embedded protection offerings, 67% of homeowners, landlords and renters were not offered insurance during their application process.
- However, despite their desire for embedded protection offerings, 67% of homeowners, landlords and renters were not offered insurance during their application process.
- A whopping 98% of those surveyed would instead be interested in purchasing landlord insurance from their rental listing provider, with convenience as the key motivator.
- Embedded landlord insurance overcomes this issue, especially in countries where landlord insurance is not mandated and underinsurance occurs.
- As the insurtech for embedded insurance, Cover Genius offers a seamless claims process with an industry-high post-claims NPS of +65‡.