What is embedded insurance?
Embedded insurance is a new way to add value to your customer experience by introducing relevant, innovative and affordable insurance options that enhance positive buyer behaviour and provide peace of mind protection.
Utilising modern, API based links, direct to your existing platform, customers are offered enhanced value insurance services as part of your typical sales process.
The insurance you offer can be tailored to your customer's needs, creating true differentiation and positively contributing to your customer journey by meeting a real need in one simple transaction.
How does it work?
Insurance products are embedded directly into your e-commerce platform using API links to match products and prices with relevant insurance options.
Product benefits and key terms can be clearly displayed by clicking on a single icon, providing customers with a plain English explanation that clearly outlines key features and benefits that match the product they are buying.
Customers add insurance cover to their purchase with a single click on your product page before proceeding to checkout in a seamless transaction.
There is no administration for you or your customer - the platform creates an insurance account for them which provides a safe, secure, and readily accessible home for policy information, whilst claims can be submitted directly through the platform to be dealt with by a dedicated claims adviser.
What are the benefits?
Firstly, you offer your customers added value and complete peace of mind. Your products are valuable and collectable, so offering your customers a tailored insurance solution provides a unique and valuable differentiator and real peace of mind.
If customers need to make a claim, they can come straight back to you for a renewed shopping experience - claims are always referred back to you to offer replacement products.
Embedded insurance increases your post-purchase customer interaction, supporting higher customer retention and additional sales.
You will be given access to real-time data, allowing you to access data-rich post-purchase customer insights whilst recurring subscription revenues are shared with you, year on year.
How is it delivered?
TCi has access to market-leading platforms and software gurus to offer you a Plug and Play solution and is designed to complement your products and your customer expectations.
The platform is simple and intuitive and has removed much of the small print, product summaries or terms and conditions, providing a smooth and seamless customer experience that perfectly complements the purchasing process.