Munich/Regensburg – September 01, 2022. Bought a new laptop at the electronics store and kept the receipt in the drawer? Perhaps the receipt will be needed for possible warranty or insurance claims. It's just stupid that the printed receipt gradually fades away in the drawer and is therefore neither useful for the warranty nor for the insurance. Speaking of insurance: Have I taken out insurance in case of damage for my laptop directly when I bought it?
These pain points and manual processes are often still commonplace today, and yet such processes are becoming more and more digital to increasingly avoid technology disruptions. Whether digital offers, voucher, or loyalty cards: consumers are increasingly reached with digital touchpoints and motivated to make a purchase, occasionally scan their products themselves at the self-checkout, are happy to pay by card or smartphone, have fewer real touchpoints with retailers in connected retail, and – bang – the digital customer journey breaks down. What happens is commonplace and happens every second all over the world: a receipt is printed out on environmentally harmful thermal paper and often ends up in the trash.
The cooperation between bsurance and anybill offers an excellent solution: anybill delivers the digital receipt exactly where consumers expect it and bsurance makes insurance easy by giving consumers access to relevant and simple digital insurance products directly at the point of sale.
How do integrated insurance policies on the digital receipt work?
Embedded insurance is experiencing a megatrend in the world of digitization. Insurance policies are offered as a package with other products or services (Handelsblatt 2021). In conjunction with the digital receipt, this means that precisely tailored insurance policies appear directly in combination with the purchase details on the digital receipt. Consumers thus have the digital receipt and the additional insurance in one place. The digital receipt is less likely to get lost than the printed receipt, and in the event of damage, the receipt and insurance are easy to find in combination.
bsurance offers a range of digital B2B2C insurance solutions that can be adapted for any service or product and embedded directly at the point of sale. In doing so, bsurance connects people with the right insurance product directly at the point of need – i.e. at the POS or directly on the digital receipt.
Embedded insurances also offer numerous advantages: Customer confidence is strengthened by making insurance more readily available and perfectly tailored to individual needs. The basis for this is the embedding in an existing customer relationship and thus a smooth and cost-efficient customer approach as well as short time-to-market and seamless, digital and thus faster claims management including processing. In addition, bsurance maintains that when insurance is offered for sale directly at the POS in a simple and tailored manner, this leads to significantly higher sales and a unique growth opportunity for companies.
Alexandra Lüke, CPO at anybill, on the cooperation with bsurance:
"Embedded insurances like those made possible by bsurance are an example of the extent to which the digital checkout receipt will be indispensable for the connected retail of the future. Insurances digitally directly on the digital receipt – that is the future of retail. We are delighted about the partnership with bsurance."
anybill is excited about the cooperation with bsurance and looks forward to the future of Connected Retail.
anybill stands for partnerships - because we are convinced that together we are better.
Lorenz Gräff, CEO of bsurance, on embedded insurance at the point of sale
"Digitizing insurance to match people's daily life events is one of our key drivers.
anybill's ability to fully digitize cash receipts not only creates an advantage in terms of protecting our environment, but also ensures seamless integration of all necessary information into the digital world of consumers.
The partnership between anybill and bsurance combines the two technical platforms in such a way that the optimal insurance cover can be taken out completely digitally at the right time and in the right context."
bsurance is headquartered in Vienna and currently employs more than 30 people. The company is currently active in Germany, Austria, Spain, Italy, the Netherlands, Belgium, France and Slovakia and its presence is being continuously expanded with new and existing partners. The company's strategic partners include Alli-anz, AXA and UNIQA, and key customers include Refurbed, Cashpresso, Kika, Leiner and Playbrush.
In 2019, bsurance has received €4 million in venture capital to expand into additional European markets.