Owen provides an API that integrates insurance protection directly into e-commerce platforms, allowing customers to select and purchase coverage for their important purchases without leaving the checkout process. This solution addresses the need for seamless insurance options, enhancing customer confidence and generating additional revenue for online retailers.
Funding
Funding not disclosed
Founders
Product
Problem
Many e-commerce platforms lack integrated insurance options, forcing customers to navigate away from the checkout process to secure coverage for their purchases. This creates friction, reduces customer confidence, and limits potential revenue streams for online retailers.
Solution
Owen provides an API solution that enables e-commerce platforms to seamlessly integrate insurance protection directly into their existing sales process. By embedding Owen's API, online retailers can offer customers a range of relevant insurance products, such as damage, theft, or extended warranty coverage, without disrupting the shopping experience. This embedded approach allows customers to easily select and purchase coverage for their important purchases within the familiar checkout flow, increasing conversion rates and fostering stronger customer relationships. Owen also manages claims, providing a hassle-free experience for both the retailer and the customer.
Target Audience
Owen primarily targets e-commerce businesses across various sectors, including electronics, home goods, sporting equipment, and mobility, seeking to enhance their service offerings and generate additional revenue through embedded insurance solutions.
Features
- API integration for seamless embedding of insurance options within e-commerce platforms
- Customizable insurance product selection based on product category (e.g., electronics, appliances, sporting goods)
- Real-time premium calculation and policy issuance
- Integrated claims management portal for customers
- Reporting dashboard for retailers to track insurance sales and revenue
- Compatibility with major e-commerce platforms