Liberty Mutual has entered a partnership with the digital insurance distribution company REIN to provide a new embedded insurance offering to Sony Electronics and its customers.
The two companies have teamed up to launch an insurance product for purchasers of Sony’s Airpeak S1 drone. First unveiled by Sony in December 2021, the Airpeak S1 is the world’s smallest class drone that can be equipped with a full-size mirrorless interchangeable lens Alpha camera.
Liberty Specialty Markets, part of Liberty Mutual, and REIN chose to launch its new bundled insurance product in anticipation of the need for drone insurance in a fast-growing market, and to add value to Sony’s drone offering, a release said.
“Our partnership with REIN enabled us to provide this unique solution for Sony’s Professional Drone Airpeak S1 and demonstrates how we develop tailored solutions to support the ever growing and evolving needs of our insureds,” said LSM head of delegated authority practice Lewis Edwards (pictured). “We look forward to expanding our partnership with REIN to bring more embedded insurance solutions to our partners and clients.”
REIN is a fintech that helps carriers transform their insurance products into digital offerings on the Insurance Exchange (IX), allowing business customers and brokers to embed the offerings in their digital commerce environments.
“At REIN, our goal is to provide the technology necessary for carriers to be the partner companies trust for embedded insurance,” said REIN co-founder and CEO Jason Griswold. “By leveraging REIN’s IX platform, Liberty can provide global brands such as Sony the ability to access digital insurance products designed to meet their customers where they are, when they need it.”
Griswold added that REIN is “consistently impressed” with LSM’s vision and commitment to being at the forefront of industry transformation.
The drone insurance offering is available through Sony’s Airpeak webpage.
