WTW and Kayna: Shaping the future of embedded insurance

Overview of partnership

Vertical SaaS (Software-as-a-Service) platforms, designed for industry-specific solutions, have already revolutionised fields like hospitality, healthcare, and retail. Many are now expanding their offerings to include embedded insurance, creating a streamlined experience for their customers.

Combining our global experience in creating and executing Affinity insurance programs with Kayna Innovation's technological prowess, we are poised to transform the way Affinity insurance is delivered in UK and US markets. 

Construction

Transforming construction with vertical SaaS and embedded insurance

Vertical SaaS platforms are enhancing the construction industry by offering industry-specific solutions that streamline operations and enhance efficiency. By integrating embedded insurance, these platforms provide construction companies with tailored insurance solutions, reducing risk and improving project outcomes.

Benefits for construction companies:

• Cost efficiency: Lower initial costs in utilizing vertical SaaS platforms to offer embedded insurance solutions.
• Accessibility: Access project data anytime, anywhere.
• Real-Time analytics: Informed, data-driven decisions.
• Document management: Secure, retrievable platform and insurance documents.

Pain points in the current Insurance experience for SMEs in the Construction sector

Kayna’s innovative infrastructure, combined with WTW-brokered tailored embedded insurance, addresses the unique challenges faced by SMEs in the construction industry.

Partner with us: We collaborate with vertical SaaS platforms to create new revenue streams while solving critical issues for SMEs managing their daily operations.

Common pain points for SMEs in Construction:

• Heavy paperwork: Initial quotes, renewals, and mid-term adjustments are paperwork-intensive.
• Underinsurance: Inflation drives underinsurance, with the UK Construction Materials Price Index increased by 10.4%.^[1] National US average increase in construction costs is approximately 5.41% YOY.2.^[2]
• Lack of up-to-date information: Insurers often miss out on real-time data during tender, design, and construction stages, causing project delays.
• Project disruption: SMEs may need to cover additional expenses not met by insurance settlements.
• Average clause application: Proportional settlements mean policyholders bear part of the loss.
• Voided policies: Significant underinsurance can lead to policy voidance due to misrepresentation.

Our solutions:

• Reduce paperwork: Enhance customer experience with pre-populated forms and a streamlined, data-driven process.
• Accurate insurance: Real-time data tracking and alerts ensure precise coverage throughout the policy’s lifetime.
• Competitive pricing: Data-led activity assessments provide fair and competitive pricing.

Explore the benefits: Interested in how embedded insurance can enhance your vertical SaaS platform? Download our presentation and let’s discuss!

Combining our global experience in creating and executing Affinity insurance programs with Kayna Innovation's technological prowess, we are poised to transform the way Affinity insurance is delivered in UK and US markets. Elevate your bussiness with our innovative solutions.

Salon/spa

Transforming Salons and Spas with vertical SaaS and embedded insurance

For the salon and spa industry, by offering specialised solutions, we can focus on streamlining operations and elevating customer experiences. By integrating embedded insurance, these platforms provide salons and spas with bespoke insurance solutions, minimising risk and enhancing service quality.

How vertical SaaS can support your Salon or Spa

• Improved cost management
  Reduce upfront vertical SaaS investment costs with predictable monthly expenses.
• Flexibility
  Easily adjust to accommodate business growth and seasonal fluctuations.
• Remote access
  Manage your business data from anywhere, at any time.
• Team collaboration
  Facilitate smooth communication and document sharing among staff.
• Insightful analytics
  Utilise real-time data to make informed business decisions.
• Enhanced customer service
  Offer personalised services to boost customer satisfaction and loyalty.

Tackling industry-specific challenges

• Seamless integration
  Transition smoothly from traditional systems to modern solutions.
• Avoiding vendor lock-In
  Maintain the flexibility to switch vertical SaaS providers if necessary.
• Staff training
  Provide comprehensive training to ensure your team is proficient with new tools.

Combining our experience in Affinity insurance with Kayna technology, we are set to transform Affinity insurance delivery in the UK salon and spa markets. Elevate your business with our innovative solutions.

Transforming insurance for Salon/Spa SMEs

Kayna’s innovative infrastructure, combined with WTW-brokered tailored embedded insurance, addresses the unique challenges faced by SMEs in the Salon/Spa sector.

Partner with us: We collaborate with vertical SaaS platforms to create new revenue streams while solving critical issues for SMEs managing their daily operations.

Common pain points for Salon/Spa owners:

• Heavy paperwork: Initial quotes, renewals, and mid-term adjustments are paperwork-intensive.
• Busy schedules: Salon owners often lack time to update insurance policies as their business evolves. Our real-time data alerts ensure coverage stays current.
• Underinsurance: Adequate Workers Compensation is crucial to protect employees and the business, preventing legal and financial complications.
• Inadequate business interruption coverage: Temporary closures due to unforeseen events can lead to costs exceeding policy limits. Real-time revenue tracking ensures appropriate coverage.
• Specialist services: Generic policies may not cover specific risks associated with unique salon/spa services. Customised policies match the services offered.

Our solutions:

• Reduce paperwork: Enhance customer experience with pre-populated forms and a streamlined, data-driven process.
• Accurate insurance: Real-time data tracking and alerts ensure precise coverage throughout the policy’s lifetime.
• Competitive pricing: Data-led activity assessments provide fair and competitive pricing.

Explore the benefits: Interested in how embedded insurance can enhance your vertical SaaS platform?

Combining our global expertise in Affinity insurance with Kayna Innovation’s technological prowess, we are set to revolutionise insurance delivery in the Salon/Spa sector. Enhance your business with our innovative solutions.

Transforming Leisure and Hospitality with embedded insurance

WTW Affinity and Kayna are revolutionising the leisure and hospitality sector by offering solutions that streamline operations and enhance guest experiences. A key component of this transformation is the integration of embedded insurance, providing businesses with bespoke insurance solutions that minimise risk and improve service quality.

The power of embedded insurance

Imagine a boutique hotel that integrates embedded insurance into its operations through a Vertical SaaS platform. This integration ensures protection against various risks, such as property damage, guest injuries, and operational disruptions, all within a seamless digital environment.

Embedded insurance in leisure and hospitality - For illustrative purposes only.

1. Comprehensive coverage:
   • Property damage: Automatically cover damages to the hotel property, ensuring quick repairs and minimal downtime.
   • Guest injuries: Provide immediate coverage for any injuries sustained by guests on the premises, enhancing guest trust and satisfaction.
   • Operational disruptions: Protect against financial losses due to unforeseen events like natural disasters or equipment failures.
2. Seamless integration:
   • Automated processes: Embedded insurance can be seamlessly integrated into booking and management systems, ensuring coverage is automatically applied without additional administrative burden.
   • Real-time claims processing: Enable real-time claims processing, reducing the time and effort required to handle insurance claims.
3. Enhanced guest experience:
• Peace of mind: Guests can enjoy their stay knowing they are covered by comprehensive insurance, enhancing their overall experience.
• Added Value: Offering embedded insurance as part of the service package can differentiate the hotel from competitors, providing added value to guests.
4. Operational efficiency:
   • Reduced administrative work: Automating insurance processes reduces the administrative workload on staff, allowing them to focus more on guest services.
   • Data-driven insights: Utilise data from insurance claims to identify and mitigate potential risks, improving overall safety and efficiency.

Addressing pain points in the leisure sector

Kayna’s infrastructure, delivering WTW-brokered tailored embedded insurance, can alleviate the insurance challenges faced by SMEs in the Leisure and Hospitality sector. We work with vertical SaaS platforms to help them build new revenue streams while solving problems for the SMEs that use their platform to run their daily business.

Common challenges for SMEs in Leisure and Hospitality:

• Heavy paperwork: Initial insurance quotes, renewals, and mid-term adjustments are paperwork-intensive.
• Busy Schedules: Business owners often lack time to update insurance policies as their business evolves. Real-time data alerts ensure coverage stays current.
• Public liability insurance: Securing this mandatory insurance can be difficult, with lengthy application forms. We simplify this process with pre-populated applications.
• Underinsurance: Adequate Workers Compensation is crucial to protect employees and the business, preventing legal and financial complications.
• Inadequate business interruption coverage: Temporary closures due to unforeseen events can lead to costs exceeding policy limits. Real-time revenue tracking ensures appropriate coverage.
• Specialist services: Generic policies may not cover specific risks associated with unique services. Customised policies match the services offered.

Our solutions:

• Reduce paperwork: Enhance customer experience with pre-populated forms and a streamlined, data-driven process.
• Accurate insurance: Real-time data tracking and alerts ensure precise coverage throughout the policy’s lifetime.
• Competitive pricing: Data-led activity assessments provide fair and competitive pricing.

Elevate your business: Interested in how embedded insurance can enhance your vertical SaaS platform?

Combining our global expertise in Affinity insurance with Kayna Innovation’s technological prowess, we are set to revolutionise insurance delivery in the Leisure and Hospitality sector. Enhance your business with our innovative solutions.

Footnotes

1. Department for Business, Energy & Industrial Strategy. (2023). Monthly Statistics of Building Materials and Components., Return to article undo
2. Rider Levett Bucknall. (2024). North America Quarterly Construction Cost Report: Q2 2024., Return to article undo

Disclaimer

For details of the Affinity solutions and services available in your country, please speak with your local Affinity team contact.