Cover Genius Selects Momentive to Power Market Research on the Growing Trend of Embedded Insurance
Momentive AI-powered solutions allow Cover Genius to run agile research in regions across the globe and move from ideation to analysis in less than a week
SAN MATEO, Calif. – July 28, 2021 – Momentive (NASDAQ: MNTV – formerly SurveyMonkey), a leader in agile experience management, today announced that Cover Genius, the insurtech for embedded insurance that protects the global customers of the world’s largest digital companies, has selected Momentive to power its global market research campaigns to uncover the insurance opportunities that exist in the financial services industry.
Cover Genius protects the purchases of customers on ecommerce websites including Intuit, eBay, Wayfair, Tile, and more. The company’s market research team wanted to run research on the growing demand for embedded insurance in 13 different countries. They needed a solution that was fast, powerful, flexible, and had global reach. Momentive allows Cover Genius to gain proprietary insights in less than a week, enabling the team to dig deeper into the results than static, one-time reports allow.
Cover Genius’ groundbreaking research showed that with increased digitization and a major shift away from traditional insurers and brokers, consumers want protection that’s tied to underlying activities or purchases, presenting an opportunity for banks, neobanks, fintechs, retailers and digital companies to gain significant traction in this emerging market. When asked if they would be interested in their bank embedding offers tied to transactions, as a global average, the survey found that 82% of installment or Buy Now,Pay Later (BNPL) customers, 77% of mobile wallet users, 90% of accounting software users and 78% of business bankers expressed high levels of interest in the proposition, as did 70% of all consumers who have bank accounts, a figure considerably higher than in the US (45%).
Momentive is a leader in agile experience management with AI-powered solutions built for the pace of modern business. The company offers more than 40 solutions for experience management and market research that leverage the power of the Momentive platform. Companies like IBM, Allbirds, Chime, and Spectrum Equity use Momentive for a variety of market research use cases, including market sizing, brand tracking, ad testing, customer profiling, product development, content marketing, investment research, and more.
“Other research solutions we tried were inflexible, technically incapable, cost-ineffective, or unable to achieve significant samples in so many countries,” said Dave Brune, President of the Americas at Cover Genius. “Momentive was nimble, flexible, and gave us powerful insights into specific regions around the world that we needed, when we needed them. Trends in fintech can be complex and difficult to track, but we’ve been able to prove the untapped business opportunity in embedded insurance with this report.”
Momentive (formerly SurveyMonkey) is a leader in agile experience management, delivering powerful, purpose-built solutions that bring together the best parts of humanity and technology to redefine AI. Momentive’s products, including GetFeedback, SurveyMonkey, and its brand and market insights solutions, empower decision-makers at 345,000 organizations worldwide to shape exceptional experiences. More than 20 million active users rely on Momentive for market insights, brand insights, employee experience, customer experience, and product experience. Ultimately, the company’s vision is to raise the bar for human experiences by amplifying individual voices. Learn more at momentive.ai.
About Cover Genius
Cover Genius is the insurtech for embedded insurance that protects the global customers of the world’s largest digital companies including Booking Holdings, owner of Priceline, Kayak and Booking.com, Intuit, Skyscanner and Descartes ShipRush. We’re also available at Amazon, eBay, Wayfair, Tile and, SE Asia’s largest company, Shopee. Cover Genius’ vision is to protect all the customers of the world’s largest online companies through XCover, an award-winning global distribution platform for any line of insurance or warranty, and XClaim, an API for instant payment of approved claims that delivers an NPS of +65, a result that has been independently recognized as the highest for any insurance company globally.
Cover Genius and partners co-create solutions that embed protection, aided by Cover Genius’ licenses in 60+ countries & all 50 US States.