Canada’s Duuo by Co-operators launches embedded insurance API

Toronto-based Duuo by Co-operators has launched its first embedded insurance API for partners, designed for Canadian businesses looking to embed an insurance purchase journey directly into their website, app, or platform.

‘Duuo Event Insurance’ will be the first product launched in this new embedded format, powered by financial services co-operative Co-operators.

Thereafter, Duuo by Co-operators will launch its tenant insurance API to enable platforms to embed tenant insurance coverage into their existing user journeys.

The new embedded insurance API offering means platform partners can offer their clients insurance policies underwritten by Co-operators.

“This new journey we’re embarking on rapidly expands our ability to allow our partners to grow and differentiate themselves in their own market, on their own terms.

“It also encourages Canadian businesses to think about how an embedded insurance solution can add value to their offerings,” said Steve Phillips, executive vice president, emerging business models at Co-operators. 

Proptech platform SingleKey intends to integrate the tenant insurance API into its platform.

Viler Lika, founder and chief executive officer of SingleKey, said: “As innovators in the rental market, the ability to embed tenant insurance directly to our platform by leveraging a simple API makes our offering to landlords and tenants that much more thorough and compelling.”

Lika added: “The opportunity to offer this service provides us with a unique value-add while our clients enjoy an enhanced rental experience.”

Duuo by Co-operators has promised more integrations, beyond event and tenant insurance, later this year.

A number of embedded insurtechs have secured funding recently, including Germany’s Hepster, which raised €10 million in a Series B funding round, while Qover closed a $30 million Series C up-round earlier in the month.