In this episode of the Reinventing Finance Podcast, KASKO CEO & Co-Founder Nikolaus Sühr welcomed Lars Markull, embedded finance expert and host of the Embedded Finance Review Podcast, to discuss together how insurers can harness embedded finance models to drive customer engagement, unlock new revenue opportunities, and strategically integrate financial services into their offerings.
They dive into real-world embedded finance use cases that demonstrate how financial products can be embedded seamlessly into insurance and other industries, reshaping customer experiences and business models.
Here are some of the topics discussed in the podcast:
📍The role of embedded finance and its intersection with insurance, exploring how non-financial brands integrate financial services to enhance their core offerings.
📍Financing solutions for rejected insurance claims, offering customers alternative funding options rather than outright claim denial.
📍Life insurance payouts linked to investment products, such as savings accounts, ETFs, or fixed-term deposits, to retain customer engagement.
📍Risk management financing for SMEs, enabling businesses like hotels and restaurants to invest in preventative measures with insurer-backed lending.
📍Refund protection insurance in e-commerce and travel, helping businesses reduce purchase friction and increase conversions.
📍Business protection solutions for industry-specific needs, such as tailored financial products for restaurants and retailers.
📍Lessons from fintech pioneers, including how Shopify, Metro Financial Services, and MUSE leverage embedded finance to monetise payments, lending, and banking products.
📍Challenges and opportunities for insurers, including regulatory scrutiny, the importance of timing when launching embedded finance products, and strategies to add value beyond traditional insurance.
This episode provides insights for insurance leaders looking to capitalise on #embeddedfinance trends and redefine their role in the evolving financial #ecosystem.