Real advice in the digital space
Financial services are being reshaped by the widespread adoption of new technologies and online capabilities. Insurance, investments and advice are often accessed at the click of a mouse or the swipe of a finger. Yet, as advancements in data availability and artificial intelligence change the playing field, we’ve kept our focus on building a culture of digital trust with our clients, ensuring that our digital evolution — as part of our overall client experience strategy — reflects our purpose, our vision and our values as a co-operative.
In 2023, one year after we first offered the online capabilities for clients to get a quote for and purchase home and auto insurance, we saw about 30% of home and auto quotes coming from digital channels. As we think about the future of insurance, we envision our operations as a connected ecosystem of in-person, mobile and online channels, all orchestrated to support clients. By leveraging technology and maintaining a human touch, we can reach new markets and meaningfully connect with diverse audiences, despite geographical limitations.
“We believe we can deliver an optimal omni-channel experience by guiding our clients through the best experience that will fit their immediate needs. It’s about working smarter and seamlessly for our clients in a way that adds value to their lives.”
The evolution of embedded insurance in online platforms
Duuo by Co-operators is seizing a new growth opportunity with the launch of our first two embedded insurance solutions – event and tenant insurance. Through application programming interfaces (APIs), our approved partners can now seamlessly embed the insurance purchase journey into their online platforms. This evolution of insurance distribution is helping to address an insurance – and a financial security – gap in the digital economy.
“We’re eager to become leaders in the emerging embedded insurance space in Canada. Through these partnerships, we’re able to offer Canadians a seamless way to purchase reliable insurance coverage within the ecosystem of their preferred platforms.”