Open & Embedded Insurance Observatory

Leading commercial insurance distribution platform, Bold Penguin, announced that Peter Settel will become their new Chief Executive Officer and President. Settel brings over twenty-five years of experience in US-based property and casualty markets, with impact through technology, strategy, and innovation driving market expansion and profitable growth. “There is a tangible excitement within Bold Penguin for our mission to simplify and transform commercial insurance. I am honored to lead this team and excited for the road ahead — to increase shared value for our partners, agents, and customers,” stated Peter Settel. “Bold Penguin has been an industry pioneer with digital technology, data, and AI. We will invest and build on this, through this critical technology and industry cycle — and grow with our teams, and with our partners.” Bold Penguin’s market-leading integrated platform, including the Terminal, the Exchange, Storefront, and Analytics, bolsters the bottom line for all commercial insurance industry stakeholders and helps protect the businesses they serve. Under Settel’s guidance, the Bold Penguin team will look to extend its existing relationships and expand its offerings through new strategic partnerships. #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #PeopleMoves

AirAsia and Tune Protect Group have introduced the AirAsia Comprehensive Travel PLUS in Singapore, offering enhanced travel coverage and a new Cashless Hospital Admission service for AirAsia flights departing from the city. This feature allows travelers to access medical care abroad without upfront payments, simplifying the process during emergencies. The Cashless Admission service is included at no additional cost and is available through AirAsia’s booking platforms, including the airasia MOVE app. Premiums start at SGD28.60 for a return trip. Travelers benefit from features like trip cancellation, flight delay coverage, and reimbursement for lost or damaged baggage. The service, already available in Malaysia, Thailand, and Indonesia, will expand to Vietnam and other markets soon. With access to over 7,500 hospitals worldwide through Europ Assistance, the plan ensures smooth and worry-free travel by eliminating unexpected out-of-pocket expenses. #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership #ProductLaunch #Travel

“Looking ahead, we believe that in-line insurance comparison within embedded flows will become the industry standard over time.” - Martin J. Gylfe, CEO and Co-Founder of Insurely. From our recent report, 𝗢𝗽𝗲𝗻 & 𝗘𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗥𝗲𝗽𝗼𝗿𝘁 𝟮𝟬𝟮𝟰. The report includes our research, insights from our partners, and a selected list of embedded insurance players, including their company profiles and case studies. Read the full interview here: https://lnkd.in/eQV-2-Ms #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech

Chubb has launched a new Endowment Smart Savings digital life insurance product through the Shopee platform in Thailand. The launch marks a significant milestone as the first endowment savings product available on an e-commerce marketplace in ASEAN, specifically designed for the Thai market. Through this close collaboration with Shopee, and the market-leading tech capabilities of ChubbStudio, financial security and resilience are now more accessible and user-friendly, empowering the Thai community to confidently plan for the future—all at their fingertips through a market-leading e-commerce brand. #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership #ECommerce #DigitalMarketplace

Amynta Group, a leading insurance services provider, announced the acquisition of the Credit Division of Crum & Forster ("C&F"), a subsidiary of Fairfax Financial Holdings Limited. The acquisition of the C&F Credit Division, offering a suite of structured credit insurance solutions, expands Amynta's presence in the credit insurance sector. The business will operate as a full-service Managing General Underwriter (MGU) under Amynta Risk Solutions. "The acquisition of the C&F Credit Division provides entry to a new specialty class of business with a team that has built a strong underwriting track record, building on our partnership with C&F" stated John Doucette, CEO of Amynta Risk Solutions. "We are excited to welcome Dan and his team to Amynta, as we look to expand the business to new markets and build capacity to support attractive growth opportunities." Marc Adee, Chairman and Chief Executive Officer of Crum & Forster commented, "Dan and his team have built a strong and profitable business. Amynta is the perfect owner to take the business forward and allow them to realize the full growth ambitions of the business. We have a strong and growing relationship with Amynta and look forward to our partnership with this business." #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Acquisition

Wrisk, a provider of embedded insurance solutions for automotive brands, has appointed Sebastian Hartmann as European Director of Business Development. Hartmann brings extensive experience in automotive insurance, having previously served as Global Head of Sales Performance and Strategy at Allianz Partners. In his new role, Hartmann will focus on expanding Wrisk’s automotive financial services client base across Europe while contributing to the company’s strategic growth as part of its senior leadership team. He will be based in Munich starting January 1, 2025. #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #PeopleMoves

To meet the Polish way of life, Oney offers loan solutions via "Smartney". This new structure creates a new category of lending products, at customer friendly rates. Using the latest technologies, Smartney offers simple, fast and completely digital loan offers. Smartney Grupa Oney offers are available online, via brokers and e-commerce platforms as a sales financing solution. The innovative Smartney technology enables Polish people to obtain consumer credit in less than 15 minutes. Using open banking, Smartney was also able to design consolidation loan – available 100% online in fast, easy and paperless process. With a loan amount of up to PLN 60,000 and a repayment period of up to 8 years. Smartney introduced an entirely new kind of financial services to Polish market. #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership

AXA UK has announced a partnership with Lloyds Banking Group. The agreement, which secures AXA’s solus capacity over a five-year term for the Lloyds Banking Group motor portfolio under its well-recognised brands Lloyds, Halifax and Bank of Scotland, will commence from May 2025. "I’m excited to announce our collaboration with Lloyds Banking Group as we come together to deliver on meeting the evolving needs of our customers. This partnership solidifies our commitment to the UK personal lines market and supports the growth of our business. It’s great news for both our customers and intermediary partners and we look forward to launch in May 2025," said Alain Zweibrucker, CEO at AXA Retail. "Peace of mind from a quality policy at the right price is what our customers want, and working together with AXA we'll be enhancing our cover and offering greater choice to drivers for insurance that best suits their needs," said Jeremy Ward, General Insurance Director at Lloyds Banking Group. #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership

YAS and QBE Insurance Hong Kong announced the launch of the region’s first “Pay-As-You-Sell” product liability insurance. Underwritten by QBE and distributed exclusively through YAS, this innovative insurance solution leverages technology from Assureful, an insurtech firm, to deliver an insurance product designed specifically for merchants selling on major online marketplaces like Amazon, eBay, and Shopify. William Lee, Co-Founder of YAS, opined, “We are delighted to announce this strategic partnership with QBE Hong Kong and Assureful. This partnership offers Hong Kong merchants a solution that scales with their business and helps them launch out into the global market. We are using real time data for AI risk profiling to do 21st century insurance, yet another step towards crowning Hong Kong as the international insurance centre.” Lei Yu (于蕾), CEO of QBE North Asia and Regional Head of Distribution, said, “We are proud to pioneer the ‘Pay-as-you-sell’ concept for product liability insurance for local merchants, through this tie-up with YAS and Assureful. Given the vast market opportunity in e-commerce, Hong Kong-based merchants need a global insurance provider with the track record and requisite expertise like QBE, who can give them the confidence and peace of mind in executing more cross-border trading.” Rohit Nair, Founder and CEO of Assureful, added, “We’re thrilled to bring our e-commerce data-driven capability to Hong Kong and join forces with QBE and YAS. Launching ahead of the seasonal surge, this solution is perfect for Hong Kong merchants ready to scale in the competitive U.S. market.” #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership #ProductLaunch

Digital commercial insurance broker Simply Business (USA) announced a new partnership with business insurance startup Coterie Insurance. The addition of Coterie’s solutions to Simply Business’s marketplace expands Business Owner’s Policy coverage options with several leading national carriers. “Coterie’s digital-first insurance solutions and broad appetite make them an ideal partner in our mission to empower small business owners. Together, we’re committed to providing a comprehensive suite of BOP solutions to even more types of small businesses across all 50 states with efficiency.” – Samantha Roady, U.S. CEO at Simply Business. “By teaming up with Simply Business, we’re expanding our digital footprint, underscoring our commitment to a streamlined insurance experience for small businesses. This platform integration increases coverage options for small business owners so they can have the right tools to confidently protect their businesses in an increasingly complex business environment.” – David McFarland, CEO and co-founder of Coterie. #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership