back Back

Embri launches embedded insurance platform for luxury retail

By Gloria Methri

May 28, 2024

  • Credit Underwriting
  • Digital Insurance
  • Embedded Insurance Solutions
Share

Embri, embedded insurance, luxury retail, FinTech, UKEmbedded InsurTech platform Embri has launched in the UK, offering integrated and embedded insurance solutions tailored for the high-end luxury retail sector.

Embri’s innovative platform aims to revolutionise the way luxury retailers provide insurance solutions to their clientele. By seamlessly integrating insurance offerings into the purchasing process, whether online or in-store,

Embri ensures that customers have immediate coverage at the point of purchase, eliminating the need for them to leave the store or step outside their homes unprotected.

Robert McCarthy, non-executive Chair of Embri, said, “Embri fills a crucial gap in the luxury retail market by offering seamless insurance solutions precisely when customers need them most. Our platform offers fresh thinking, relevance, convenience, and security – enhancing the customer experience while simultaneously unlocking new revenue streams for retailers.”

The luxury brand market is vast and steadily expanding across the world. In the UK alone, more than £15 billion will be invested in luxury goods in 2024, yet scarcely any of these items will be insured now of purchase. By 2028, consumer spending on luxury items is projected to surpass £20 billion. Embri’s goal is to empower these buyers, allowing them to ensure their cherished purchases with just one click at the point of sale for the first time in the market.

Craig Harper-Aston, Strategic Advisor at Embri, added, “Luxury item theft, particularly of high-value watches, is on the rise, yet many purchasers remain unaware of their insurance options. Embri’s embedded insurance provides a much-needed solution, offering both retailers and customers the peace of mind they deserve.”

Simon Ball, Director at Embri, said, “Our platform streamlines the insurance purchasing process, saving time and effort for both parties and delivering insurance that is hyper-tailored to the luxury item being purchased and active at the point of sale. Whilst the luxury goods market shows resilience, theft of high-end watches continues to rise with it, and the increasing importance of having appropriate insurance cover in place to protect these purchases”.

Previous Article

May 28, 2024

Adyen partners with Italian restaurant group Vapiano

Read More
Next Article

May 28, 2024

3 FinTechs propelling Contactless Payments Technology in India

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

Credit Underwriting

Why predictive AI is a critical necessity in the field of cybersecurity

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 13, 2024

Fin+InsureTech Finsall raises $1.7m in Bridge Round led by Unicorn India Ventures & Seafund

Read More

June 12, 2024

5 RegTechs enhancing compliance for India’s BFSI sector

Read More

June 11, 2024

Mbank & Policybazaar.ae team up to streamline insurance solutions

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023