Duuo by Co-operators Embedded Insurance Report 2025
A research report on Canadian consumer preferences and embedded insurance.
With so much buzz around the innovations in embedded insurance, we decided to survey over 1,200 Canadians to connect the dots between consumer preferences and the opportunities for non-insurance brands to jump into this emerging space.
First of all, what is “embedded insurance”?
When we say “embedded insurance” we’re referring to any situation where an insurance purchase journey is seamlessly placed (embedded) into a partner’s app, platform, or website.
For example, the last time you purchased plane tickets you were likely offered travel insurance just before the digital checkout. In this case, the airline has embedded an insurance offering directly into their journey, precisely at their customer’s moment of need.
Why is embedded insurance trending?
In short, because the technology has finally caught up to the vision. Now that customers can simply select an insurance package and “add to cart” with their plane tickets, it’s a game-changer for all parties involved:
1. It fulfils a job the customer wants done.
2. It expands the overall value prop of the airline.
3. It opens a new distribution channel for the insurance partner.
What does this report show Canadian brands?
From buying a home to insuring a car, there will always be a need to protect the assets we value most. What is changing is how Canadians can access insurance coverage.
In leveraging consumer insights, we’re able to expand on the potential embedded insurance has to create new revenue and increase customer retention for Canadian brands that add insurance to their overall value proposition.
Report Methodology
While the average Canadian has probably never heard the term “embedded insurance”, there are driving indicators we can focus on to determine if the embedded insurance value proposition appeals to them.
With this in mind, Duuo by Co-operators surveyed over 1,200 Canadians (ages 21-65) to gauge interest.
We heard from 75% car owners, 52% homeowners, and 48% tenants.
Here’s what we learned
Canadians want more control over their insurance rates
Canadians want to be rewarded more for their brand loyalty
Canadians need to trust a brand before buying insurance
Canadians are open to purchasing insurance through embedded experiences
A few key metrics
- 95% of Canadians would be more likely to stay loyal to a brand if they received additional rewards and services.
- 81% of Canadians would be willing to try a new insurance brand to gain more control over the cost of their coverage.
- 85% of Canadians would be more likely to make additional purchases from brands that reward them with loyalty points.
- 67% of Canadians would prefer to purchase auto and home insurance the same way they get insurance for their flight tickets.
