Owen Selects Assurant to Enable Embedded Protection for Swan’s Next-Generation Business Cards

Key Terms

embedded banking financial

Embedding banking means putting basic bank services — like accounts, payments, lending, or card issuance — directly inside non-bank apps or stores so customers can manage money without leaving the platform. For investors, it matters because it can create steady new revenue streams and stronger customer loyalty for the platform, much like a store adding an in-house bakery that keeps shoppers buying more and returning more often.

embedded insurance financial

Embedded insurance is a type of coverage that is integrated directly into a product or service, often during the purchase process, making it easy and seamless for consumers to access protection. For example, when buying a new car or booking travel, insurance options may be included automatically. This approach matters to investors because it can expand market reach, increase sales, and create new revenue streams for companies offering these integrated protections.

risk carrier financial

A risk carrier is the company or legal entity that agrees to take on financial responsibility for losses or claims, most commonly an insurance company, reinsurer, or a dedicated insurance vehicle. Investors care because the risk carrier’s financial strength, capital reserves and claims performance determine how much potential loss it must cover and how profitable it can be—think of it as the party holding the checkbook for future claims, which affects its earnings and stock value.

third-party administrator (TPA) financial

A third-party administrator (TPA) is an outside company hired to handle day-to-day administration of employee benefits, insurance claims, or retirement plans on behalf of an employer or insurer. Think of a TPA as a property manager who processes claims, manages paperwork, and ensures payments and reporting happen correctly; its efficiency and accuracy can affect a firm’s costs, regulatory risk, and cash flow, making it relevant to investors evaluating operational risk and expense predictability.

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Owen and Assurant come together to deliver card-linked travel and fraud protection for Swan’s embedded banking ecosystem

PARIS--(BUSINESS WIRE)-- Owen, an insurtech dedicated to modernising insurance for fintechs and digital platforms, and Assurant, Inc. (NYSE: AIZ), a global company that redefines the boundaries of protection – safeguarding and servicing connected devices, homes, automobiles, and commercial equipment for leading brands worldwide, announce their collaboration to support Swan, Europe’s leading embedded banking platform, with tailored protection embedded directly into Swan-powered card products across France and Europe.

Owen selected Assurant to provide the insurance capacity required to support Swan’s next-generation card offering, bringing together Owen’s embedded insurance expertise and Assurant’s scale, governance, and experience in affinity protection. Together, Owen and Assurant enable fintechs to integrate insurance natively into their financial products — seamlessly and at scale.

Under the arrangement, Assurant will act as the risk carrier for the insurance component, with Owen serving as broker and third-party administrator (TPA), and Allianz providing assistance services.

“This collaboration with Assurant reflects exactly what Owen is built for: insurance that is modern, simple, and embedded into the products people already use. With Swan as our first success story, we demonstrate that high-quality protection can be distributed at scale — natively, and without friction," said Thibault Masson, Co-founder, Owen.

“This initiative is fully aligned with our strategy in France and Europe: to be an insurer first for the affinity ecosystem, working with both established and digital-native distribution partners,” said Felipe Sanchez, President, Assurant Europe. “Embedding travel coverage into Swan-powered cards brings added value at the precise moment customers need it—within the everyday financial experience—while meeting the high expectations of governance and service quality in the French market.”

Swan: The First Live Implementation of Owen and Assurant Working Together

The program launched in April 2026 with Swan, Europe’s leading embedded banking platform. Swan enables established B2B Softwares to integrate banking features — accounts, cards and payments — directly into their products. The platform processes approximately €2 billion in monthly transactions, operates across 30 European countries, and serves 150+ companies including Pennylane, Indy, Agicap and Lucca.

Through this initiative, Swan’s partners can now offer their users embedded travel insurance and fraud protection directly within their cards. Central to this model is Owen, bringing its embedded insurance expertise to the program — integrating protection natively into Swan-powered card products for a seamless user experience.

"Embedding insurance into a card product used to mean months of integration work and complex regulatory lift. With Owen and Assurant, it becomes a native capability, so Swan’s partners can ship richer, more complete card experiences for their own customers, faster." - Julien Mettoudi - VP Product & Operations, Payment, Swan.

About Assurant

Assurant, Inc. (NYSE: AIZ) redefines the boundaries of protection – safeguarding and servicing connected devices, homes, automobiles, and commercial equipment in partnership with the world’s most successful brands. As a Fortune 500 company operating in 21 countries, Assurant leads the way in leveraging insights and technology to transform customer connections that build loyalty and drive value.

Learn more at assurant.fr

About Owen

Owen is an insurtech that modernises and simplifies access to insurance. Through an embedded insurance model, Owen enables fintechs, neobanks and platforms to integrate coverage directly into their products across multiple European markets — and allow their users to benefit from it easily with a seamless claims experience.

Learn more at get-owen.com

About Swan

Swan is a European fintech specializing in embedded banking. Businesses of all types can unlock the full potential of their product by integrating Swan's banking features, such as accounts, cards, and payments.

Swan processes over €2 billion in monthly transactions for more than 150 companies—like Pennylane, Indy, Agicap, Libeo, and Lucca—and operates in 30 European countries. Founded in 2019, the company has received growth capital from leading investors such as Lakestar, Accel, Creandum, Bpifrance and Eight Roads. Swan is a principal member of Mastercard and a licensed financial institution, regulated by the French banking authority (ACPR).

Learn more at swan.io

View source version on businesswire.com: https://www.businesswire.com/news/home/20260603739999/en/

Media Contacts:
Neeti Dhawan
Director, International Communications
neeti.dhawan@assurant.com

Source: Assurant, Inc.