What Is Insurance White-Labeling?

There are multiple ways to approach and sell embedded insurance, but the most effective approach is white-labeling. Not only is white label insurance the fastest and most cost-effective option, but it also keeps the insurance under your brand, expands your product offerings (and potential customer pool), and creates more points of sale with your customers which leads to higher retention rates.

Defining White-Label Insurance

A white-label insurance product is one that’s been developed by one company, then rebranded and sold by other companies. White label insurance can be used by insurance companies and insurtechs whose primary business is to cross-sell a variety of insurance products, or it can be used by non-insurance companies as an additional stream of income.

An easy way to understand the concept of white-labeling is to consider white-labeled products that exist outside of the insurance world. For example, consider the Costco brand: Kirkland Signature. When you see food, paper towels, denim jeans, and various other items sold under the Kirkland Signature logo, you probably don’t think about the fact that they were most likely not produced by Costco itself. In most cases, they were manufactured in various factories by various companies, white-labeled, and then sold under the Kirkland Signature brand. The same can be done with insurance.

A white-label, embedded insurance product is one that is completely integrated not only into your website so that your customers don’t have to leave your website in order to make a purchase, but it’s also integrated into your brand. Customers will have no indication that the product was not created by your company. 

Benefits of White-Labeling Insurance vs. DIY

When it comes to the question of “white-label or build from scratch?” there are several benefits to white-labeling insurance products– namely, it will save you time, labor, and money.