As an insurance executive, you know that the insurance industry is constantly evolving. With the rise of insurtech, it’s more important than ever to stay ahead of the curve and offer innovative solutions to your customers. One way to do this is by integrating insurance into mobile apps, like Fayr has done with Mylo. In this step-by-step guide, we’ll show you how to do just that.

Step 1: Identify Your Target Audience

Before you can integrate insurance into your mobile app, you need to identify your target audience. Who are your customers? What are their insurance needs? Once you have a clear understanding of your target audience, you can start to develop insurance products that meet their specific needs.

Step 2: Choose the Right Partner

Once you know your target audience, it’s time to choose the right partner to help you integrate insurance into your mobile app. Look for a partner that has experience in the insurtech space and can offer innovative solutions to your customers. Mylo is a great example of a partner that can help you achieve this.

Step 3: Integrate Insurance into Your Mobile App

Once you’ve chosen the right partner, it’s time to integrate insurance into your mobile app. This can be done through an embedded insurance widget, like the one Mylo offers. This widget allows your customers to compare insurance products and find the best coverage for their needs, all within your mobile app.

Step 4: Provide a Guided Insurance Shopping Experience

To make the insurance shopping experience as easy as possible for your customers, provide a guided experience. This can include coverage recommendations and quote comparisons from multiple carriers. Mylo offers this type of experience, which can be customized to meet the specific needs of your target audience.

Step 5: Connect Customers with Licensed Agents

Finally, make sure your customers have access to licensed agents who can answer their questions and provide personalized advice. Mylo offers this service, which can help your customers feel more confident in their insurance decisions.

By following these five steps, you can integrate insurance into your mobile app and offer innovative solutions to your customers. And if you’re interested in exploring parametric insurance options, Riskwolf can help. With Riskwolf, you can turn real-time data into insurance, enabling you to build and operate parametric insurance at scale. To learn more, visit Riskwolf’s website.

Original article: Fayr Selects Mylo as Exclusive Auto, Home and Renters Insurance Partner