Embri, a newly launched Embedded InsurTech platform, has introduced its services in the UK, presenting integrated insurance solutions customized for the luxury retail sector.
The platform aims to innovate the provision of insurance by luxury retailers, seamlessly incorporating insurance options into the purchasing process, whether online or in-store. This integration ensures immediate coverage for customers at the point of purchase, eliminating the inconvenience of seeking protection elsewhere.
Robert McCarthy, non-executive Chair of Embri, emphasized the platform’s contribution to addressing a crucial need in the luxury retail market. He highlighted its focus on enhancing customer experience, convenience, and security, while also presenting new revenue opportunities for retailers.
The luxury brand market is experiencing steady growth globally, with significant investments projected in the UK alone. However, a considerable portion of these purchases remains uninsured. Embri seeks to empower buyers by enabling them to insure their purchases with a single click at the point of sale, a first in the market.
Craig Harper-Aston, Strategic Advisor at Embri, noted the rising trend of luxury item theft and emphasized the need for awareness about insurance options. Embri’s embedded insurance offers a solution to this challenge, providing peace of mind for both retailers and customers.
Simon Ball, Director at Embri, highlighted the platform’s efficiency in streamlining the insurance purchasing process. He emphasized the importance of tailored insurance coverage for luxury items, particularly as theft incidents increase in tandem with the market’s growth.
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