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2023 Roundup: The Twists and Turns of Embedded Insurance in Travel

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Drive Safe, Fly Secure: Embedded Insurance Escapade The travel and mobility sectors are roaring back to life now that the pandemic is in the rearview mirror. In the ever-evolving world of travel and mobility—a sector where getting from point A to B isn’t just about the ride—it’s about the experience, safety, and, yes, peace of mind. In 2023, travel wasn’t just about moving around—it was about the freedom to explore without the baggage of worry, thanks to embedded insurance fitting snugly into our plans. And mobility? Think of it as all the cool ways we zip around locally – cars, scooters, or those nifty e-bikes. Capgemini forecasts a surge in the global mobility insurance market, projecting its value to double from $0.65T in 2023 to $1.38T in 2030. Unlike traditional insurance policies, embedded insurance offers a personalised and real-time approach to coverage, addressing the diverse and complex risks that exist in the sector. For consumers, this means an improved buying experience, tailored solutions, convenience, and accessibility. Travel and mobility platforms have been greatly benefiting by teaming up with insurance providers. They can share platform data for tasks like underwriting, risk analysis, pricing, and managing exposure. The collaboration not only opens […]

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