In this episode of the Reinventing Finance Podcast, KASKO CEO & Co-Founder Nikolaus Sühr speaks with Christopher Meyer-Mölleringhof, Venture Lead for Pet Insurance at Fressnapf Maxi Zoo about how Europe’s leading pet retailer successfully launched its own pet insurance offering. Here are some of the key-insights from the episode:
➡️ Fressnapf Maxi Zoo’s entrance into pet insurance, focusing on high demand, commercial attractiveness, and its role in their broader pet care ecosystem.
➡️ The business model decision to act as an insurance agent rather than take on risk, partnering with Petolo in Germany and launching a white-labelled Maxi Zoo Assurance in France.
➡️ The role of co-creation in insurance product development, ensuring tailored coverage, transparency, and an easy buying journey to drive adoption.
➡️ Key product differentiators, such as breed-specific disease coverage, pre-existing conditions, and integration of an online vet service as a built-in benefit.
➡️ The power of brand trust and customer access, reducing acquisition costs and increasing conversions by embedding insurance into an existing pet care ecosystem.
➡️ Retail distribution and customer engagement, including digital-first sales, store employee education, and referral incentives.
➡️ Challenges in aligning retail and insurance mindsets, particularly regarding long-term revenue models and ecosystem-driven engagement.
➡️ The future of embedded insurance, highlighting opportunities for non-insurance brands to co-create and distribute innovative insurance products.
Check out the episode to find out more!
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