Duuo by Co-operators has unveiled Duuo Event Insurance, an embedded insurance application programming interface (API) for its partners.
Intended for businesses operating in Canada, the platform is designed to improve the customer experience.
It seamlessly integrates the insurance purchase process directly into the app, website or platform of such businesses.
Duuo Event Insurance is said to be the first product to be introduced in this embedded format, offering event hosts the option to reserve a venue and obtain event coverage seamlessly.
The platform launch is supported by Canada-based financial services co-operative Co-operators, which is claimed to have 75 years of experience in the insurance sector.
Co-operators emerging business models executive vice-president Steve Phillips said: “This new journey we’re embarking on rapidly expands our ability to allow our partners to grow and differentiate themselves in their own market, on their own terms.
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“It also encourages Canadian businesses to think about how an embedded insurance solution can add value to their offerings.”
In addition to the seamless experience platform partners provide their clients insurance, each policy, which is underwritten by Co-operators, is said to offer quality coverage.
Duuo by Co-operators will also introduce a tenant insurance API permitting platforms to easily embed coverage for tenant insurance into their current user processes.
The insurance provider announced plans to collaborate with fintechs, proptechs, smart home platforms, event platforms and small business platforms, among others.