One80 Intermediaries: Pioneering the Point-of-Sale Insurance Landscape

The seamless inclusion of insurance coverage within the point of sale (POS) experience is emerging as a critical development within the insurance industry. Embedded insurance, often referred to as POS insurance, is rapidly establishing itself as a fundamental element in the distribution strategies of innovative intermediaries. Among these pioneers, One80 Intermediaries is strongly positioned to take the lead in this transformative arena.

Embedded Insurance and Point of Sale Insurance: The Paradigm Shift

The concept of embedded insurance represents a paradigm shift in the insurance industry. Instead of insurance being an afterthought or a burdensome add-on, it is seamlessly integrated into the transaction, enhancing customer experience and streamlining the process. Point of sale insurance is no longer a peripheral consideration; it’s now a strategic focus for innovative intermediaries like One80.

One80 Intermediaries’ Point of Sale Insurance Initiatives

One80 Intermediaries has been at the forefront of this shift, harnessing the power of embedded insurance across diverse industries. Their innovative approach to point-of-sale insurance positions them as a leader in this evolving landscape. Recent examples include:

1. Equipment Leasing: One80 offers a Financed Equipment Program which saves valuable time and accelerates capital equipment transactions by fulfilling the financial institution’s insurance requirements at the point of sale. With this value-added service customers get immediate access to coverage at competitive pricing, fixed for the term of financing.

2. Recreational Marine Rentals: Marinas offering recreational marine rentals often grapple with insurance complexities. One80 addresses this challenge by providing point of sale insurance solutions, ensuring both the marina operators and renters are adequately protected. This simplifies the rental process and fosters customer satisfaction.

3. Retail Stores, Equipment Suppliers, Appliance Stores, and Jewelers: One80 extends its point-of-sale insurance offerings through retail outlets, equipment suppliers, appliance stores, and jewelers. By offering extended service plans with embedded insurance, these businesses enhance customer trust and loyalty. Customers can enjoy peace of mind, knowing they have coverage from the moment of purchase.

4. Vehicle Service Agreements (VSI): One80 Intermediaries’ VSI offerings exemplify their commitment to embedded insurance. By seamlessly integrating VSI into the point-of-sale process, they ensure that vehicle purchasers have access to essential coverage, mitigating potential financial risks and ensuring smooth post-sale experiences.

5. Travel Business: In the travel sector, One80 Intermediaries embeds insurance into vacation rentals and purchases. This approach is particularly relevant in a post-pandemic world, where travelers seek assurances and flexibility in their plans. By providing insurance at the point of sale, One80 enhances the overall travel experience.

6. Affinity Business: A significant portion of One80’s affinity business includes premiums embedded into union dues or professional organization fees. This approach simplifies insurance acquisition for members, making it a seamless part of their affiliation benefits.

Looking Ahead: One80’s Expansion in 2024

One80 Intermediaries’ forward-thinking approach, combined with their deep industry expertise, positions them for continued success in embedding insurance across various sectors including the rapidly growing gig economy. As we look to the future of insurance distribution, the integration of insurance into the point-of-sale process is expected to gain even more prominence. Consumers increasingly demand simplicity, transparency, and value in their insurance interactions – and One80 Intermediaries’ innovative approach to embedded insurance perfectly aligns with these evolving customer expectations.

Conclusion

In a rapidly changing insurance landscape, the integration of insurance into the point-of-sale process is revolutionizing the industry. One80 Intermediaries, with its visionary approach and diverse portfolio of embedded insurance offerings, stands as a leading force in this transformation. As they prepare to expand their reach in 2024, One80 is poised to shape the future of insurance distribution, simplifying the insurance journey for customers and driving growth for businesses across industries.

Author:

Colleen Shelby is a Managing Director at One80 Intermediaries, where she spearheads the strategic vision and execution of embedded insurance distribution. Her journey to this pivotal role has been marked by diverse experiences that have shaped her into an accomplished leader in the insurance industry.

Colleen’s career began in the leasing industry after college, where she provided automatic insurance for leased equipment. While she left the embedded insurance sector to pursue roles in clinical trial management for medical devices in Europe and Central America, she soon returned to the leasing industry when she joined instaCOVER to lead a new medical device insurance initiative. Her dedication and expertise saw her rise through the ranks, eventually becoming CEO in January 2020.

instaCOVER was acquired by One80 Intermediaries in 2022 where Colleen oversees the strategic direction, business development, for embedded insurance throughout the franchise. Under Colleen’s leadership, the company has achieved record growth, launching several new products and expanding its footprint in the embedded insurance space. She also serves as a partner at TRI EX Capital Partners, gaining valuable insights into the leasing industry and the needs of brokers and funders.

Colleen’s remarkable journey from the leasing industry to becoming a respected leader in embedded insurance distribution reflects her passion for people and her commitment to driving business success.