The Market Map

Embedded Insurance 2.0

The most comprehensive analysis of the multi-trillion dollar Embedded Insurance market opportunity for brands, insurers, entrepreneurs and investors.

Over 90 pages, this report describes how embedded insurance works today and how it needs to evolve to drive new value to business across all sectors and geographies.

It also includes a detailed review and benchmark of over 45 of the leading startup pioneers driving the market.

The 2022 Embedded Insurance Market Map identifies 46 pioneering startups making their mark on the insurance industry.
Best InsurTech 2022

“This report is the most comprehensive analysis of the rapidly emerging Embedded Insurance industry produced to date. The report is critical to understanding the different approaches both new and established companies have taken as they have launched embedded insurance initiatives across multiple product lines and verticals, and the relative traction those strategies have achieved.”

Matt Chesky

President, Insuritas

Embedded Insurance Creates a Massive Opportunity

Over the next decade individuals and businesses will cumulatively spend $80 trillion on insurance, worldwide. Yet ‘protection gaps’ – the difference between the level of insurance cover people need and what they have – are widening throughout the world.

Supply doesn’t match demand. This creates a golden opportunity for non-insurance brands to play a role in baking more and better protection into the everyday lives of their customers. In the process creating and capturing new value for themselves and their customers.

“A timely and comprehensive analysis of one of the most exciting and emerging opportunities in our industry. The opportunity is massive, and this report helps business leaders make sense of this dynamic and fast-paced space by providing actionable insights and an easy-to-understand framework to assess the embedded insurance market – helping to identify the real leaders at the forefront of the industry.”

Mark Simmons

CEO Europe & Asia, Bolttech

Who is this report for?

This in-depth report was created for senior commercial and strategy leaders who want to understand how embedded insurance can grow their business and open new revenue streams.

Brands (big and small) looking for new ways to add value to customers.

Insurers seeking new growth opportunities.

Insurtechs who wish to keep pace with new market developments.

Fintech investors who want insight on future winners.

Entrepreneurs after a new, exciting market to play in.

Regulators who want to understand the next wave of fintech innovation.

Advisors seeking new insights to help their clients enhance their business models.

What you can find inside
Pages of insights and analysis
Embedded Insurance
providers profiled
Charts, diagrams
and tables
Case studies

In this report

This report offers the most comprehensive analysis of how embedded insurance works today and will evolve in the future. It contains:
– key reference frameworks
– forecasts
– statistics
– use cases
– case studies
– practical next steps

In addition, it includes the world’s first in-depth review and assessment of over 45 of the most pioneering startups against our robust ‘Market Map’ methodology. A must read for anyone in the insurance industry, banking services, embedded finance and beyond.



Part 0 About this Report

Part 1 Executive Summary

Part 2 Embedded Insurance explained.

  • What is Embedded Insurance and why is it important to brands?
  • What problems does Embedded Insurance address?
    • Introduction
    • The Status Quo
    • Problems with the status quo

———————–End customers (consumers or businesses)




———————–Society in general

  • How Embedded Insurance works
    • New industry value stack
    • Supply-side modularisation
    • Demand-side pull
    • The Embedded Insurance Continuum

———————–Integrated into a Brand’s Website or App

———————–Point of Sales (PoS) Add Ons

———————–Bundled Value Added Services

———————–Bundled Component

———————–Invisible Enabler

———————–Super App Hook and Glue

  • Embedded Insurance & Finance Operating Systems
  • The Benefits of Embedded Insurance (summary)
  • Next Steps Checklist

Part 3 The Market Map

  • Evaluating the Embedded Insurance Provider Landscape
    • The Market Map Methodology
    • How The Market Map is different and special
  • The Market Map for Embedded Insurance Pioneers
    • ‘Enablers’
    • ‘Accelerators’
    • ‘Commercializers’
    • ‘Transformers’
  • Choosing an Embedded Insurance Provider
    • The Embedded Insurance Partner checklist

Part 4 About the report authors

  • About aperture
  • About Embedded Finance & Super App Strategies

Part 5 Appendices

  • Assessment Methodology and Scoring Criteria for the Market Map
  • Who does what? Summarizing all 45 pioneers
  • Who operates where? Geographical cover
Embedded Insurance Report Table of Contents. A multi-trillion dollar opportunity for brands and insurers presented in the latest market map available to buy today.

“Particularly insightful…to understand the opportunities and threats of next-gen Embedded Insurance. The strategy frameworks and case studies are very valuable.”

Inji Charkani

Chief Innovation Officer, AXA Partners

“This report provides a digestible road map for brands, insurance carriers and technology players alike to design, build and execute winning embedded programs.”

Jason Griswold

CEO and Co-Founder, REIN

About the authors

Simon Torrance, a leading expert on Embedded Insurance, and Ben Robinson, a specialist in Financial Technology, and their teams at Embedded Finance & Super App Strategies and, undertook this analysis in 2022 to complement previous research on Embedded Finance, Banking-as-a-service and WealthTech.

Known for

The Market Map for Best WealthTech Providers 2021

The Market Map for Best BaaS Providers 2021

Featured in

Simon Torrance is the Founder & CEO of Embedded Finance & Super App Strategies and co-author of the market report.

Simon is an entrepreneur and senior independent advisor to Boards and Leadership Teams on new growth strategy, platform and ecosystem strategy, corporate innovation and venture building. He runs the world’s first incumbent peer group on Embedded Insurance with some of the biggest insurers and conducted the first in-depth market sizing of the sector. Simon is a regular keynote speaker, a member of the World Economic Forum’s ‘Accelerating Digital Transformation’ executive working group, a guest lecturer at Singularity University, author and presenter of the New Growth Playbook and co-author of ‘Fightback – how to win in the digital economy with platforms, ventures and entrepreneurs’.

Simon Torrance

Founder & CEO of Embedded Finance & Super App Strategies

Ben Robinson is the Co-founder & CEO of aperture, and is the co-author of the Embedded Insurance Market Map.

Ben is co-founder of, which helps companies, big and small, to de-risk growth by providing them a mix of expertise (especially around strategy and go-to-market), ecosystem access, and equity investment. Ben also sits on the board on two embedded finance firms. Before starting aperture, Ben worked at Temenos, the Swiss market-leading banking software company, where he was Chief Strategy & Marketing Officer. Ben is a prize-winning chartered accountant, a former equity analyst, and holds a first-class degree in Economics from the University of Leeds.

Ben Robinson

Founder & CEO of

Embedded Insurance Strategy Workshops

We have created a series of online workshops designed to help businesses and individuals leverage the content of the report.

Introductory Teach In
A 90 minute workshop to present and discuss the key findings of the report. Ideal for general executive briefings.

Bespoke Teach In
A 90 minute workshop to explore specific areas of the report that interest to you more, which you request in advance. Ideal for strategy and project teams.

Strategy Workshop
A half day workshop to review or enhance your existing strategy, business model and product roadmap, or to start or accelerate the process of creating one. Ideal for strategy and project teams.

Marketing Workshop
A half day workshop to enhance or create a marketing strategy for your Embedded Insurance solution. Ideal for commercial leaders and marketing teams. We also offer face to face presentations and workshops, and run market analysis and strategy development projects.

“The best report on embedded insurance currently available.”

Christian Pedak