Share
Insurance Post Podcast
Could embedded insurance result in mis-selling?
In the latest Insurance Post Podcast, Sicsic, managing partner of Sicsic Advisory, said embedded insurance has been around for a long time with travel and white good, but technology has widened the range of types of cover that can be sold in this way.
However, he flagged that, with this type of cover, checks need to be made so consumers understand what they have purchased.
Sicsic said: “Do people really understand that they are purchasing an insurance product, and does it meet their needs?
“The classic issue we have seen over the years is having double cover. You are purchasing a new policy, but have it already covered in your main policy. I would call it mis-purchase. You mis-buy by not exactly understanding the cover you are getting, and then get a bad surprise at the point of claim.”
Sicsic is joined on the podcast by Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute, who outlines the pros and cons of embedded insurance, and the steps to take to make sure seamless selling doesn't result in consumers sleepwalking into the wrong cover.
As well as being able to listen to the podcast by clicking on the player above, you can also download and keep this episode of the Insurance Post Podcast to listen to anytime, anywhere you want to.
To download the episode, go to your podcast provider of choice (Apple, Google, Samsung, Spotify, Audible, etc) and search for Insurance Post.
More episodes
View all episodes
Insurance Post’s Christmas Special Podcast
29:59|Post content director Jonathan Swift, news editor Scott McGee, and Emma Ann Hughes, editor, ditch the usual award-winning format of our publication’s award-winning podcast to deliver a holly, jolly Christmas Special this year.Inspecting and impressing in the gadget insurance market
24:19|Ahead of Black Friday, the latest Insurance Post Podcast explains how gadget insurers are increasingly looking at the way devices are used rather than the likelihood of the component parts ceasing to work when it comes to underwriting and claims.How to support vulnerable insurance customers
18:41|Steps insurers should take to understand the needs of customers in vulnerable circumstances and ensure their products and services are suitable are outlined in the latest Insurance Post Podcast.How insurers are assisting with the energy transition
16:49|How insurers are enabling a “less volatile” transition away from fossil fuels is the focus of the second of two special Insurance Post Podcasts, to coincide with the 2024 United Nations Climate Change Conference, more commonly known as COP29.Insurers shift to being net zero accelerators
19:53|How insurers are helping companies decarbonise sooner rather than later is examined in the first of two special Insurance Post Podcasts, to coincide with the 2024 United Nations Climate Change Conference, more commonly known as COP29.How to ensure AI doesn’t take your job
15:35|Ian Simons, content and capabilities director of the Chartered Insurance Institute, said those without the skills to work with artificial intelligence are at greater risk of redundancy than those who know how to make the most of this technology.How insurers are helping the life science sector
15:44|Personalised medicines, weight loss injections, plus people bypassing doctors to access the latest miracle drug online are examined in the latest Insurance Post Podcast.Autonomous vehicle revolution shaking-up insurance
20:36|The potholes plus dirty road signs pushing the brakes on mass rollout of autonomous vehicles on UK roads are examined in the latest Insurance Post Podcast.What insurers should expect from Labour’s Budget
27:38|The impact tax changes in Labour’s first Budget in 14 years could have on the insurance industry is the focus of the latest Insurance Post Podcast.