Beazley & Certua partner on small programme & scheme business

Beazley teams up with fintech provider to expand broker schemes. #broker #fintech

We are pleased to announce our strategic partnership with @BeazleyGroup. Starting with small schemes and programme business, our platform will empower Beazley and their broker partners to unlock the benefits of #embeddedinsurance. Insurance distribution is changing.

Certua Working With Endsleigh on Embedded Cover

Insurers are looking at a new way to sell a product: “embedding” it in something else that someone happens to be buying. Read more:

Meet the Team Series - Charles Fryer, Group Operations Director We sat down with Charles Fryer, Group Operations Director, to ask him 6 questions about his role managing operations at Certua... #operations #insurance #embeddedfinance https://t.co/EaPlFShIlI

Meet the Team Series -Tor Williams, Director of Insurance We sat down with Tor Williams, Director of Insurance, to ask her 6 questions about insurance partnerships at Certua... #partnerships #insurance #embeddedfinance https://t.co/xk0TuWpTMD

If you’re exploring the use of open banking for risk assessment, please get in touch via our website: https://t.co/YsGiGJfPGs

There are both obvious and subtle sensitivities around using bank account information for risk assessment of this nature, in the same way that there are sensitivities in using medical information. We are working closely with design partners to ensure that these are acknowledged.

An example is someone who has had to pay multiple speeding fines in the past 5 years may have a higher risk profile than someone who has not had to pay for a ticket. This kind of information can be gathered from Open Banking data, but not from a traditional underwriting journey.

c) This inferred risk can be used to price policies that more accurately reflect the risk of the end user, and adapt to changing risks over time.

b) Open banking data can be used to infer risk in ways that can't be gathered from a traditional underwriting journey.

a) Two people who give the exact same answers in a traditional underwriting journey can have very different risk profiles.

Open banking has multiple potential applications in life insurance. Building on our innovations in categorisation and financial profiling, Certua is experimenting with the use of open banking data to enhance life insurance risk assessment.

Building a comprehensive breakdown of one’s spending habits provides invaluable information that sheds light on an end user’s financial wellbeing and even their physical wellbeing.

Open banking data is being used in a myriad of different ways which are insightful to end users, intermediaries and product providers.

Is open banking the future of life insurance underwriting?

Great to see RGA leading the discussion on embedded life and health insurance. Huge opportunities for both reinsurers and digital applications serving consumers. #embeddedfinance #embeddedinsurance https://t.co/Zb4Mg7P8dp

MEET THE TEAM Series - Luke Bewley, Director of Growth We sat down with Luke Bewley, part of the founding team and Director of Growth, to ask him 6 questions about growth and innovation at Certua... #product #growth #innovation https://t.co/jLYiDabkAa

Please check out our financial profiling tool and other related apps here: https://t.co/C2sSgcYa9d #openbanking #embeddedfinance