People Hate Shopping for Insurance, So Embedding is Key for our Industry (w/Matt Chesky, Insuritas)

Matt Chesky is the President of Insuritas a leading provider of embedded insurance solutions for financial institutions in the U.S.

Matt says the process of ensuring you are getting the right coverage at the right price is painful. Insuritas believes part of the solution is to embed access to insurance products in environments where customers are already used to spending time.

Insuritas is an 'original' insurtech, founded in the late 90s to help banks and credit unions run their own insurance agencies as a turnkey solution, so have two decades of experience with embedded insurance platforms. 

Matt relays that every customer who walks into a bank is already an insurance buyer, so discovering the way to identify the right timing and solution in their hands, for example embedding auto insurance at the point of a new car loan in the bank branch. The second key is making the buying process as easy as possible, by pre-filling as much information as possible. The third key is having the insurance conversation in a highly-trusted relationship as an extension of the local bank where insurance represents the 4th or 5th product in the relationship.

Consumers are not singularly focused on price, they want the right coverage and a trusted relationship, so enabling banks and credit unions to provide personal insurance remains a highly attractive opportunity space.

Matt is widely recognized as a thought leader in the banking and insurance verticals, and has been recognized by the Hartford Business Journal and Connecticut Magazine’s ’40 Under 40’ lists. He graduated from Yale University.

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