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- Press review

Insurers to build depth-integrated Embedded Insurance platforms

Expert roundtable discusses market entry and maturity of Embedded Insurance solutions

Stephan Roth (second from left), Chief Product Owner in IKOR’s SAP and insurance division, discussed general and technological challenges for the various market players in an ecosystem with both "supply side" and "demand side” considerations. Industry participants include Bastian Knutzen (EMIL Group, third from left), René Schönauer (Guidewire, right), Achim Schweizer (Climatica Insurance Solutions), Toni Tomic (at the time of the discussion SAP, now EY, left) and moderator Christian Raum (Sapport Magazin, third from right) as part of a roundtable discussion.

Key take-aways from the Embedded Insurance roundtable:

  • Which general and technological challenges are relevant for the various market players (corporates, love brands, manufacturers, insurers, platform providers, FinTech’s, etc.) in an ecosystem with both "supply side" and "demand side" perspectives.
  • Which - depending on the situation - is more expedient: "Make or buy?" or "Make and buy?".
  • How to provide "multi" countries and "multi" customers with a smart number of product permutations to reduce product complexity.
  • The market potential is high and the enthusiastic mindset is developing. Numerous players are already involved or are joining: the spectrum ranges from brands/love brands and manufacturers to insurers, platform providers, new providers/FinTech’s and many more in the future.
  • Collaboration models in partner management (and "revolutionaries") are developing. A business network is emerging. Unfortunately, according to roundtable participants, IT is too often seen only as a cost center.
  • Heterogeneous systems and the use of external data increase potential and complexity; going to the cloud helps to scale, especially in the long run.
  • The panelists looked at the touchpoints according to customer needs. Comments included:
    • "Commodity becomes part of the premium."
    • "Truly embedded means the processes must run without media discontinuity."
  • The roundtable participants provided market and personal examples.

Enable Embedded Insurance end-to-end integration rapidly

The discussion revolved around the issue of market entry and maturity as well as product bundles and the development of ecosystems that enable Embedded Insurance to be quickly integrated end-to-end.

"There are a few cases ongoing from which everyone involved is learning - technology, sales concepts, business models, customer acceptance," comments moderator and Sapport editor-in-chief Raum. "Unless the necessary mindset and confidence in the success of the concepts are in the heads of those responsible, the market will only develop step by step." Manufacturers and platform providers should formulate their strategy precisely:

  • Which use case they envisioned, which customer journey would be realized in this case and which business case would be behind it.

Raum: "It's time to start initiatives in this direction. It will take a lot of patience before the first major, successful results can be built up for demonstration."


Sapport editor-in-chief Christian Raum describes the premise check for the market, products and realignment of sales in his lead article, published in Sapport Magazine in January 2024.

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