In its simplest form, embedded insurance is a way of offering insurance digitally as a featured option at the moment of need. When implemented correctly, true embedded insurance creates a seamless, integrated experience where bindable insurance quotes are offered to customers within the existing buying experience.
For example, if a customer is buying a car online and getting financing through the financial services arm of the manufacturer, the dealership already has all the information they need (name, address, age, FICO score, etc.) to offer an auto insurance quote. Rather than making the customer enter all this data again, true embedded insurance pulls this information programmatically, underwrites a bindable quote, and lets the customer complete the purchase—all within the same online experience.