The Guelph-based financial services co-operative’s digital insurance arm Duuo is introducing its first embedded API for use by companies outside the insurance industry, starting with one focused on event insurance and another for tenant insurance. In the case of event insurance, for example, a host booking a venue on a partner’s website will also be able to buy insurance from Co-operators. (The Logic)

Talking point: Embedded insurance distribution could exceed US$70 billion in premiums in the U.S. by 2030, according to global investment management firm Conning. “It’s a huge market and it’s coming to Canada,” Steve Phillips, executive vice-president of emerging business models at Co-operators, told The Logic. Phillips said Duuo has a competitive advantage over other insurtechs because it’s using the insurance of its own carrier. “It’s the perfect solution especially when you’re working with large partners because large partners are going to say, ‘Who are you?’” he said. “They want to know that you’re backed and are going to really deliver on the solution.”