Embri, a pioneering embedded InsurTech platform, has launched today, offering groundbreaking integrated and embedded insurance solutions tailored for the high-end luxury retail sector.
The innovative platform aims to revolutionise how luxury retailers provide insurance solutions to their clientele by seamlessly integrating insurance offerings into the purchasing process, whether online or in-store.
The London-based firm is set to address a gap within the luxury retail market, where customers often purchase high-value items without immediate insurance coverage. Embri’s goal is to empower buyers, allowing them to insure their cherished purchases with just one click at the point of sale, enhancing the customer experience and unlocking new revenue streams for retailers.
The platform streamlines the insurance purchasing process, saving time and effort for both retailers and customers, and delivering insurance that is hyper-tailored to the luxury item being purchased and active at the point of sale.
By addressing the rising theft of high-end watches and other luxury goods, Embri’s embedded insurance provides a much-needed solution, offering both retailers and customers the peace of mind they deserve.
Robert McCarthy, non-executive Chair of Embri, expressed the significance of the platform, stating, “The team have spent over a year in research and development talking to luxury retail brands and insurers. 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.”
Craig Harper-Aston, Strategic Advisor at Embri, remarked, “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, emphasised the platform’s consumer-centric approach, stating, “Embri was developed with the consumer front and centre. The loyalty consumers feel for luxury brands can be further developed with this demonstrable commitment to quality and security. 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”
Copyright © 2024 InsurTech Analyst
