Let’s wrap up 2023
2023 was another wonderful year for bsurance, marked by new partnerships, thrilling projects, and acknowledgment as a prominent player in the Insurtech industry. As we gear up for New Year’s resolutions and shift our focus to 2024, let’s take a moment to reflect on the remarkable journey of the past twelve months.
Certainly, 2023 posed its challenges for everyone. However, it also provided fresh perspectives and a heightened appreciation for what we have achieved, and it showed us the importance of adapting in the midst of a turbulent market.
The past year was a tough one, not only for the Insurtech industry, with the economic downturn, unstable world politics, increased interest rates and a general slowdown of the market. However, we see that Embedded Insurance is innovating the insurance industry in a way that cannot be stopped.
The strategic approach of adding additional services to the customers, to add value is still as valid as ever. Digitalisation and customer experience are vital parts for future success for insurance carriers in our connected, digital world and this is where bsurance and our digital embedded insurance solutions is playing an important part in moving the insurance industry forward.
Our New Partnerships
This year, bsurance reached a significant milestone with over 170,000 policies issued, a testament to the trust our partners and customers placed in us. We also expanded our horizons into new business fields, diving into the rental business and cancellation insurance sectors.
Along the way, we’ve had the pleasure of welcoming new partners. In January, we onboarded Dutch rental platform BIYU, helping them in the mission of simplifying the way people rent items while enhancing convenience and peace of mind. All items rented through BIYU are fully insured against theft, loss or damage during the time of the rental.
We are also very happy to have helped the newly opened Tyrolian Silvretta Therme in Ischgl as they implemented dynamic-pricing by fully integrating cancellation insurance in the ticket price, so that visitors can book their spa time worry-free in advance.
bsurance rocking the stage
But this year has not been just about new projects and exciting insurance products. Together with partners, we held webinars on the hot topics Gen Z and AI, and how they offer tremendous opportunities for the insurance business.
Our expertise on embedded insurance is highly valued and we had the opportunity to take the stage on several occasions during the year.
The year started off with the P19 New Years Event, where bsurance was part of an interesting panel discussion on add value services at the point of sales.
Our Chief Insurance Officer, Hermann Fried, had the pleasure to contribute at the McKinsey Agent Forum, where the newest developments in the agent sales channel were discussed and, of course, also embedded insurance was covered.
Franz-Xaver Burner, Chief Growth Officer at bsurance, was asked to hold not only one, but two keynotes on embedded insurance and captivated the audience by highlighting the potential of new impulses on the insurance business. FXs keynote sparked several exciting discussions at the Rheinland Innovation Week and at the Sales Topic Day of InsurLab Germany, where the keynotes were held.
When bsurance was invited to pitch at the Mastercard Fintech Forum in Vienna alongside five Austrian Fintechs, our Business Development Manager Cisela Klahr represented us on stage.
And one last reflection on 2023: From exciting opportunities to valuable lessons, it’s been an eventful and productive journey. We would like to say a huge thanks to our dedicated team, loyal supporters, partners and clients for trusting us in navigating business challenges with our embedded insurance solutions. This belief in our vision has fueled our growth and inspired us to innovate. We’re thrilled to venture into the new year with renewed energy and enthusiasm.