Buddy’s Post

“Sure began as a direct-to-consumer (D2C) mobile insurance app before becoming a digital insurance infrastructure company, using our existing core technology. In hindsight, the shift was absolutely the right move, but success wasn’t guaranteed, and it wasn’t always clear if it would work.  The key lesson I learned: Never pull the plug on something that is working to do something new until proving that you can successfully do the new thing.” Our CEO Wayne Slavin shared the journey of building Sure with Insurance Thought Leadership. Check it out to learn about how Sure pulled off a successful pivot — and what many startups get wrong about the process: https://lnkd.in/eJ4kvwZR

Mexican insurtech inter.mx is a platform designed to make accessing insurance easier for people in Mexico, where large coverage gaps leave many without insurance. In 2023, the company turned to Stripe for the launch of an ambitious project in which it offered its own free and paid insurance plans. “People in Mexico see insurance as a very large expense, and the principal reason users cancel their policy is because they don’t use it,” said Luis Esteban Luengo, director of business development at Inter.mx. “If they don’t use it, they think that’s a big expense they can’t justify.” Inter.mx used Stripe Payments to enable reliable, secure payment support for a simple, easy transaction process. The company used Stripe Billing to power its subscription services with both free and paid options to create a freemium model. With Billing, Inter.mx could automate workflows to easily collect recurring payments. The Billing API could also enable Inter.mx customers to choose from multiple subscription offerings and make changes to their subscriptions on a self-serve basis. Features such as Smart Retries, which uses machine learning to retry failed payment attempts at the best possible times, could also help reduce churn and recover revenue. #OpenInsurance #EmbeddedInsurance #Insurance #Insurtech #Partnership

Buddy, a leading InsurTech shaping the future of embedded insurance, has announced its partnership with Stripe to introduce innovative e-commerce capabilities tailored for the insurance sector. With Buddy’s ION engine, insurance products can be rapidly indexed, making them readily available for transactions in online environments, including standalone and embedded e-commerce platforms. Leveraging Stripe’s global payments platform, carriers can embed insurance offerings within hours, facilitate multi-party payments, and optimise checkout processes using a unified tech suite. Charles Merritt, CEO of Buddy, expressed his excitement at the news, remarking, “We are thrilled to develop with Stripe to build the future of insurance e-commerce. Our collaboration will improve access to insurance by lowering technical barriers to implementation, and we will provide a modern solution to the challenges of multi-party payments at points of sale.” https://lnkd.in/exAMtCa4 #Embeddedinsurance #Openinsurance #insurtech #partnership #digitalinsurance

“In my heart, I believe Insurance is a noble business. Using premium to fuel this vicious cycle just feels wrong.” —Steve Lekas, Co-Founder & CEO, Branch Insurance The follow up to my best-seller "The Future of Insurance: From Disruption to Evolution, Volume I. The Incumbents." The second volume features the first-hand journeys of 8 InsurTech startup insurers so we can learn and grow. The #1 new book in Insurance! Available from Amazon and at https://lnkd.in/eU4eEJFD #insurtech #insurance #futureofinsurance #book #innovation

Navigating Insurtech Challenges? Learn how Waytobill's innovative solutions are overcoming payment obstacles in insurtech. Check out our new blog post for key insights! #FintechInnovation #InsurtechPayments #Waytobill

Why is Insurtech remaining resilient as other fintech firms struggle? Until recently, focus of Insurtech was on the Distribution part of the B2C value chain helping insurance companies acquire large customer base through simplified process and better customer experience. Having tasted success and garnering the attention, Insurtechs are now venturing into complex B2B insurance domain offering solutions in areas of pricing, underwriting efficiency and claims adjudication accuracy and faster settlement. Investors are certainly aware of this trend, which is why they are committing more to such firms; especially those that are embracing the latest technologies to revolutionise insurers core operations. #Insurtech #Insurance #DigitalTransformation

“In my heart, I believe Insurance is a noble business. Using premium to fuel this vicious cycle just feels wrong.” —Steve Lekas, Co-Founder & CEO, Branch Insurance The follow up to my best-seller "The Future of Insurance: From Disruption to Evolution, Volume I. The Incumbents." The second volume features the first-hand journeys of 8 InsurTech startup insurers so we can learn and grow. The #1 new book in Insurance! Available from Amazon and at https://lnkd.in/eU4eEJFD #insurtech #insurance #futureofinsurance #book #innovation

“In my heart, I believe Insurance is a noble business. Using premium to fuel this vicious cycle just feels wrong.” —Steve Lekas, Co-Founder & CEO, Branch Insurance The follow up to my best-seller "The Future of Insurance: From Disruption to Evolution, Volume I. The Incumbents." The second volume features the first-hand journeys of 8 InsurTech startup insurers so we can learn and grow. The #1 new book in Insurance! Available from Amazon and at https://lnkd.in/eU4eEJFD #insurtech #insurance #futureofinsurance #book #innovation

“In my heart, I believe Insurance is a noble business. Using premium to fuel this vicious cycle just feels wrong.” —Steve Lekas, Co-Founder & CEO, Branch Insurance The follow up to my best-seller "The Future of Insurance: From Disruption to Evolution, Volume I. The Incumbents." The second volume features the first-hand journeys of 8 InsurTech startup insurers so we can learn and grow. The #1 new book in Insurance! Available from Amazon and at https://lnkd.in/eU4eEJFD #insurtech #insurance #futureofinsurance #book #innovation

Embedded insurance is emerging as an interesting space in the insurance ecosystem. Several InsurTech players such as Qover and Bolttech are revolutionizing the industry. The value proposition is that customers prefer a bundled product with insurance coverage built in, as opposed to seeking separate coverage. An increasing number of non insurance companies such as retailers, car manufacturers, fintech companies, and e-commerce platforms embedding insurance products into their customer journeys to provide a seamless experience, adding value without requiring a separate transaction. A segment definitely worth keeping an eye out for. https://lnkd.in/dVmtpu9M #insurance #insurtech #embeddedinsurance #arancainsights #fintech