Employee Spotlight: Eloi Lanthiez and His Journey at Embea

Interviewer: Tell us a bit about yourself.

Eloi: I'm Eloi, the French connection in Embea's diverse team of 10 different nationalities! My role involves developing insurance products and supporting our initial partnerships.

Interviewer: What is the biggest challenge in your role?

Eloi: The key challenge is synchronizing the development of insurance products with our partners' interests. I really appreciate our ability to launch new insurance products within a couple of weeks, showcasing our agility and expertise in creating competitive and innovative offerings.

Interviewer: Eloi, could you briefly describe Embea?

Eloi: Absolutely. Embea is a Berlin-based startup specializing in Embedded Life Insurance. Our mission is to offer financial protection to families and individuals across Europe, safeguarding them against life's uncertainties like accidents, illnesses, or death. We focus on B2B2C distribution, embedding our insurance products seamlessly into our partners' purchasing processes, services, or offerings. Our partners’ customers can have relevant protection at the right moment in seconds.

Interviewer: What unique value does Embea add to the insurance market and its partners?

Eloi: In the insurance market, traditional approaches often involve lengthy processes, paper contracts, and complex policies that cater to a limited audience. Embea is changing that by introducing:

• Digital Simplicity: We offer a digital life insurance product that can be purchased in just 3 minutes. It's straightforward, affordable, and designed for Embedded Distribution.
• Speed: Embea is all about agility. We not only release insurance products quickly but also provide a fast testing and go-to-market process for non-insurance brands and partners. Our plug-and-play solutions make it easy to offer insurance to customers and reach untapped segments.
• Dedication: We're committed to delivering top-notch services to our partners and their customers. Embea is a Full-Stack Platform, covering everything from customer acquisition to claims processing. We're not just a layer on top of a traditional insurer; we handle the entire value chain.

In essence, Embea aims to make insurance more accessible, efficient, and tailored to the needs of a broader audience.

Interviewer: How did you begin your career in insurance?

Eloi: My insurance journey started about seven years ago, right after my studies. I initially joined Mazars as a consultant, gradually developing a deep appreciation for the industry's complexity and uniqueness. At that time, I didn’t know I would spend 7 years of my life in the industry, it was the beginning of a real love story! After three years, craving a more direct impact on customers and a desire to innovate, I joined Mutumutu, as the Country Manager for France right after the 3M€ seed round. There, our focus was on protecting the incomes of freelancers and the self-employed, a group particularly vulnerable to unforeseen events, while also incentivizing healthy lifestyles.

Interviewer: What motivated you to join Embea?

Eloi: My decision to join Embea was influenced by several factors:

1. Confidence in the founders, seasoned entrepreneurs with a track record of successful ventures in the insurance domain.
2. Personal insights and experiences. At Mutumutu, I recognized the high financial demands of customer acquisition in a B2C model. Our explorations in distribution methods at Embea highlighted that partnerships were the most effective, offering benefits like:- Lower acquisition costs due to the trust our customers place in our partners.- Optimal timing for product promotion, facilitating seamless subscription in relevant contexts.- Value-added benefits for partners, such as new revenue streams and improved customer satisfaction.
3. Embea's ambitious vision and the resources committed to empowering the team to deliver essential financial protection products with a simple click.

Interviewer: Can you share the latest significant achievement or milestone at Embea?

Eloi: I’m happy to share that 3 months ago, we launched "Embea Illness Protect," a product providing financial security in the event of serious illnesses. It's designed to offer a substantial sum to customers diagnosed with serious diseases, such as cancer. Given the high incidence of such illnesses and their potential to cause financial distress, our product aims to alleviate that burden, allowing customers to focus on recovery. We've already partnered with organizations in the health and financial sectors, reaching our initial customers.

Interviewer: Now that you're part of the Embea team, how do you feel?

Eloi: The positive response from our first partners and customers has affirmed my decision. The current economic landscape, especially in the context of fundraising and the drive toward profitability, works in our favor. We're helping our partners realize their goals and monetize their customer base effortlessly through meaningful services. Our integration offerings are highly adaptable, allowing us to meet the expectations of both our partners and their customers. We are offering the following options:

• A streamlined checkout process that aligns with our partners' branding, facilitating quick insurance policy sales.
• Robust API integration for a seamless user experience and effective data utilization.
• Group contracts, enable a single insurance policy to cover all customers linked to a partner's services like credit cards, subscriptions, loans, etc.

Last but not least, the pragmatic Go-To-Market strategy, leveraging established markets like bancassurance or employee benefits, and infusing our innovative, rapid, digital solutions, while exploring new high-potential verticals like online health applications.

Interviewer: Any final thoughts?

Eloi: We're just at the beginning of what promises to be an exciting journey. It's thrilling to be part of a team that's redefining insurance, making it more accessible and beneficial for everyone involved. There's a lot more to come from Embea, so stay tuned for some exciting developments ahead!