The joint company will operate across Europe and the US under the name of Pattern. Pattern will help businesses generate new revenue streams and increase customer satisfaction through tailored insurance products, transforming all their online transactions into protected experiences without the need to be an insurer, reportedly.
Through the merger, Pattern will offer a one-stop-shop for embedded insurance products that empower businesses to offer a fully protected buying experience for their customers with real-time underwriting data for an improved buying process. The fully-automated, embedded insurance-as-a-service platform empowers businesses to autonomously build and distribute unique and personalised insurance products. Coverages produced by Pattern include both parametric and traditional insurance products, and are offered by businesses to their customers in full compliance with local regulations. Pattern allows companies to protect shoppers from unexpected changes to plans, inclement weather, utility outage or surcharge, shipping delays, and more.
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