NN Group: Embedded Insurance through Oxygen: A Cross-border and Fast-delivery Concept

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29 March 2023

Winner of the 2023 Celent Model Insurer Award for Innovation Execution


Embedded insurance is considered a billion- or even trillion-dollar market opportunity. It certainly is a new revenue stream for insurers and partners, and it can be profitable if supported with the right tools and methods at scale. It won’t necessarily replace existing distribution outlets, but it will provide more options to customers and reach new clients with products that cover new risks, at the right place and the right time.

Oxygen is a technology platform within NN Group that offers embedded insurance fully integrated in the commercial transactions of third parties’ products or services for its European business units. The Oxygen platform, combined with innovation techniques such as the use of MVP and agile methodologies, contributes to higher levels of efficiency and speed to market for NN. Moreover, this platform can be used to enter the market of embedded insurance in different countries, digitally integrating with traditional and nontraditional partners.

Celent has been covering, for some time, the rise of the digital middle layer to accelerate the readiness to compete in the digital distribution space, along with platform APIfication and the creation of ecosystems with traditional and nontraditional partners. We are glad to see how incumbents, such as NN Group, are adopting these trends, moving from a test or subscale experimentation to executing at scale.

NN Group's initiative: Embedded Insurance through Oxygen: A Cross-border and Fast-delivery Concept, is a winner of the 2023 Celent Model Insurer Award for innovation execution.