In the latest aperture report on embedded finance predictions for 2023, our Group Chief Product Officer Melissa Wong shared her views on how embedded insurance developments will take shape and drive higher value-add for customers.

Melissa said: “As an industry we need to stay true to our purpose. We are here to protect people against the risks in their lives and provide them peace of mind. While we have the sugar high of creating easy digital experiences, we can’t lose sight of what customers actually value: a holistic proposition that meets real needs.”

In the report, Melissa delves into the opportunities for the embedded insurance market to evolve from single product offerings to bundles that better address customer needs. She cited the example of how traditional cyber insurance products can be bundled with services that educate customers about cyber risks.

"If we can educate customers that there are core things they’ll always need, then we can think about bundling, subscriptions, and membership — I think that’ll be a game-changer over the next couple of years in embedded insurance," Melissa added.

Download the full report here.