The rise of embedded insurance
Embedded insurance has emerged as a game-changer for payment protection offering benefits to both lenders and borrowers
The financial industry has witnessed a transformation with embedded insurance. This new digital approach seamlessly integrates insurance coverage into various consumer touch points. Embedded insurance has emerged as a game-changer for loan payment insurance, offering benefits to both lenders and borrowers.
This comes at a pivotal time for consumers, as nearly 60% of consumers worry about not being able to make their loan payments due to unexpected expenses.¹ Understanding this concern, TruStage™ has created a first-of-its-kind loan payment insurance solution designed to be embedded into the online lending process.
Embedded insurance benefits
The traditional insurance buying process is complex and time-consuming, leading many potential customers to delay or altogether avoid purchasing insurance policies. Embedded insurance, on the other hand, simplifies the entire process by making it easily accessible. It can be integrated into all aspects of a person’s life, such as buying a home or getting a car loan.
There are a host of benefits that embedded insurance provides; let’s go over a few.
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