Leading Spanish financial institution CaixaBank has partnered with B2B2C insurtech platform bsurance on a project to create and test new embedded life insurance products, according to Finextra.
For the PoC, bsurance is working with VidaCaixa, CaixaBank´s insurance branch, to integrate a first digital insurance product from the VidaCaixa portfolio. This will enable CaixaBank customers to add tailored life insurance products online at the point of sale. Not only does this increase the number of products offered to customers, by integrating them at the point of sale, it enables consumers to quickly and securely purchase appropriate insurance products.
Lorenz Graeff, CEO and Co-Founder of bsurance, said: “The digital and embedded insurance sector is flourishing, driven by progressive companies like CaixaBank and huge consumer demand. This project will showcase how intelligent insurance products can be quickly integrated into a financial institution’s existing offering to provide a range of new services to customers.”
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