Swiss insurer Zurich has launched a suite of solutions for digital embedded protection across all Asian markets.

Zurich has launched «Zurich Edge», a suite of solutions for digitally embedded insurance, according to statement, which will be available to all Asian markets where the insurer has operations.

The suite will support end-to-end customer experience, including quotes, purchasing, servicing, and claims. A dedicated in-market «digital squad» will also be available for a localized and collaborative approach to developing innovative propositions.

«Leveraging Zurich’s global footprint and experience, partners of Zurich Edge will also be able to benefit from the Zurich Global Ventures’ specialized services, and gain access to Zurich’s global API marketplace, Zurich eXchange, to enable faster integration of solutions,» the statement added.

Embedded Insurance

Embedded insurance is a form of insurance that is integrated into a customer’s experience through an existing product, service or platform. For example, a customer may be offered the option to purchase travel insurance while in the process of buying a plane ticket on an airline website.

According to EY, embedded insurance channels are expected to make up more than 30 percent of all property and casualty insurance transactions globally by 2028.

Partnership Momentum

Zurich Edge builds on the insurer’s momentum in the Asia Pacific region with a portfolio of over 200 partnerships in six markets across industries such as retail, travel, banking, fintech, e-commerce, automotive and telecommunications. Leading brands include Japan Airlines, TikTok, Citibank and MYAirline.

«This is a very relevant time for digital insurance across Asia Pacific as we continue to witness the growth of tech-savvy customers who lack adequate insurance coverage,» said Roopa Malhotra, head of customer & digital, APAC, Zurich Insurance Group.

«With this in mind, we have embraced a holistic approach through Zurich Edge, considering every facet of the digital insurance value chain to modernize the entire experience and be more responsive to evolving partner and customer needs.»