Embedded insurance as part of the buying experience – what does my coffee machine have to do with insurance?

[suchona.kani.z]

Last weekend started off relaxed - I hadn't actually planned to deal with professional topics like embedded insurance. What had happened? After a long week, there were only a few mandatory appointments to be fulfilled on Saturday and I was supposed to sleep a little longer. A good start to the weekend also includes a hearty breakfast and, above all, coffee.

After breakfast was prepared, however, our mood suddenly worsened. The last step was to bring the coffee to the table. A look into the pot showed that it had not run through and the water was still at the top of the machine. Even after several attempts, the machine could not be persuaded to heat up the water, and so we had to accept that our coffee machine had stopped working after more than ten years.

After having had plenty of refreshment, dealing with the shock and doing denmark consumer email list some research on the internet, we decided to drive to the nearby electronics store to buy a new coffee machine. At the end of the consultation, the salesperson asked us whether we wanted to take out additional insurance for the device, which would cover damage even if it was our fault. A good example of an "embedded insurance benefit".

So what is embedded insurance?
The special thing about the Embedded Insurance service is that for the buyer - in this case the coffee machine - it never feels like "taking out insurance" at any point in the purchasing process. It is also not clear which insurance company is involved and who will handle the claim in the event of a claim.

By embedding insurance in the sale of a product or service, it becomes part of the customer experience. At the same time, it provides added value for the company, which can then offer a more attractive product combination. An ecosystem of different products and services is created that, when combined, create added value for the customer. The transitions are fluid, so that it is not visible to the customer that these are different partners who provide the service together.