EY · Strategy · Medium · 25-35 min

GCC Insurer Considering Embedded Insurance

Last updated 2026-07-29

What is this case about?

A top-3 KSA general insurer — strong motor and medical books — is watching its direct-channel loss ratio deteriorate from 78% to 91% over two years. The CEO has been pitched embedded insurance by three startups: motor cover sold inside a ride-hailing app, travel cover inside a booking platform, gadget cover inside a major e-commerce checkout. Board wants a 'go / no-go / which partners' recommendation in six weeks. You are the lead.

Where strong candidates start

  • Pin down the strategic question — is this defense against the direct-channel deterioration, or an offensive distribution bet, or both
  • Size the embedded TAM by partner category — ride-hailing, e-commerce gadgets, travel — with attach rates, ticket size, and reasonable haircuts

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