The collaboration between Buddy and Stripe aims to advance ecommerce in the insurance industry, providing insurance companies, brokers, and distribution channels with seamless integration of insurance products into digital transactions.
Buddy, as a Stripe platform partner, offers a comprehensive tech stack that empowers carriers to conduct embedded insurance commerce efficiently.
With Buddy’s ION engine, insurance products can be rapidly indexed, making them readily available for transactions in online environments, including standalone and embedded ecommerce platforms. Leveraging Stripe’s global payments platform, carriers can embed insurance offerings within hours, facilitate multi-party payments, and optimise checkout processes using a unified tech suite.
Officials from Buddy said they are happy to develop with Stripe to build the future of insurance ecommerce. Their collaboration will improve access to insurance by lowering technical barriers to implementation, and they will provide a modern solution to the challenges of multi-party payments at points of sale.
This partnership underscores the shared commitment of both companies to innovation and customer satisfaction. By combining their expertise, Buddy and Stripe aim to propel the digital transformation of the insurance industry, making insurance products more accessible and convenient for consumers.
In March 2024, Stripe has partnered with The Hertz Corporation to facilitate payments for its Hertz, Dollar, and Thrifty car rental brands. This collaboration aims to streamline Hertz's digital rental strategy by consolidating a significant portion of its in-person and online payment volume onto the Stripe platform.
Hertz seeks to enhance its customer experience by offering additional digital payment options and leveraging advanced technology for more efficient rental services. The collaboration also involves developing a shared product roadmap to address specific payment needs, including extended authorisations for weekly or monthly rentals. The company plans to integrate Stripe across its corporate-owned locations in the US, Canada, Europe, Australia, and New Zealand.
In January 2024, Octane has joined Stripe to democratise consumption-based pricing by enhancing its billing infrastructure. This collaboration aims to address the growing demand for such pricing models by offering an augmented billing system with increased reach and scalability.
Octane officials expressed excitement about joining forces with Stripe, highlighting their shared vision and passion for building a billing platform that supports diverse pricing structures and enables companies to iterate on their pricing strategies easily.
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