Embedded insurtech platform Embri has launched to offer integrated insurance solutions suitable for the high-end luxury retail sector.
The Embri platform has the goal of revolutionising the way luxury retailers provide insurance solutions to their clientele.
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In addition, by integrating insurance offerings into the purchasing process, whether online or in-store, Embri makes sure that customers have immediate coverage at the point of purchase, removing the need for them to leave the shop or exit their homes unprotected.
Robert McCarthy, non-executive chair of Embri, said: “The team have spent over a year in research and development talking to luxury retail brands and insurers. Embri fills a crucial gap in the luxury retail market by offering seamless insurance solutions precisely when customers need them most. Our platform offers fresh thinking, relevance, convenience and security – enhancing the customer experience while simultaneously unlocking new revenue streams for retailers.”
Craig Harper-Aston, Strategic Advisor at Embri, added: “Luxury item theft, particularly of high-value watches, is on the rise, yet many purchasers remain unaware of their insurance options. Embri’s embedded insurance provides a much-needed solution, offering both retailers and customers the peace of mind they deserve.”
Simon Ball, director at Embri, continued: “Embri was developed with the consumer front and centre. The loyalty consumers feel for luxury brands can be further developed with this demonstrable commitment to quality and security. Our platform streamlines the insurance purchasing process, saving time and effort for both parties, and delivering insurance that is hyper tailored to the luxury item being purchased, and active at the point of sale.
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By GlobalData“Whilst the luxury goods market shows resilience, theft of high end watches continues to rise with it, and the increasing importance of having appropriate insurance cover in place to protect these purchases.”
