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Embri launches embedded insurance platform for luxury retail

By Gloria Methri

May 28, 2024

  • Credit Underwriting
  • Digital Insurance
  • Embedded Insurance Solutions

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”.

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