Wrapbook: $181b in entertainment payroll for the taking
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If you’ve followed insurtech for more than a week, you’ve probably read about embedded insurance. That is, incorporating insurance point-of-sales directly into the purchase flow of the asset you’re trying to insure. It’s an incredibly effective distribution channel.
While other companies like Boost Insurance are trying to make it easy for retailers (e.g. an online used car marketplace) to offer insurance, Wrapbook is taking a verticalized approach: not only is Wrapbook providing a unique payroll product for project-based industries, they’re also a licensed insurance agency.
Wrapbook, at its core, is trying to answer: how do you make it as easy as possible for project-based industries (e.g. entertainment) to manage their operations? These are industries that cycle through a freelance workforce and where each project requires a unique set of insurance policies that range from workers comp to production insurance to temporary fleet insurance.
