Embedded insurance would boost account usage for 60% of fintech users
In a nutshell
What is embedded fintech insurance?
Many fintechs offer insurance that is included in a particular payment card or subscription plan. This means that users who are subscribed to that plan automatically benefit from certain coverage without having to purchase it separately.
What are the benefits of offering embedded insurance for fintechs?
Offering embedded insurance can help fintechs drive the user behaviour that fuels their growth, whether that be more frequent transactions, upgrading to paid accounts, increased wallet share and more.
In a survey of 5,500 fintech users, over half of respondents not only expressed interest in embedded insurance as a value-added service, but 60% said they would use their account more if offered coverage.