Introducing Oyster Business Insurance

In 2023, Oyster experienced significant growth in adoption of our insurance products for everyday consumers. Using the Oyster embedded insurance platform, hundreds of merchants are now offering tailored insurance to their customers at the point-of-sale and post-purchase for sales and rentals.

With Oyster, merchants can provide their customers a seamless insurance experience and generate a new revenue stream. Oyster’s platform adapts to fit the insurance needs of a wide range of merchants from enterprise Shopify brands to local brick-and-mortar shops.

In the past year, we’ve built strong relationships with the many merchants that have come to Oyster for their customers’ insurance needs. Upon this foundation of trust, these merchants asked us to solve challenges around protecting their businesses as well as their customers, soliciting advice from our team of experts and being led to the right solution for their business.

Regardless of the guidance our team can provide, the current process of obtaining insurance policies tailored to their business remains manual, lengthy, and fragmented. Merchants often encounter challenges classifying their businesses, understanding coverages and limitations, providing verified underwriting data, and communicating the nuanced and ever-changing dynamics of their business operations. They end up needing to work with several brokers or carriers to find the proper coverage, and still struggle to understand exactly which risks they are covered for. We aim to reimagine this process.

Today, we’re excited to announce our new product, Oyster Business Insurance, to streamline business insurance coverage for merchants in one platform.

‍

Oyster Business Insurance

Merchants can now get business insurance through Oyster. From newly-incorporated stores to industry-leading brands with over 9-figures in annual sales, Oyster enables a modern, comprehensive flow to protect businesses with an all-in-one insurance platform.

‍

Through partnering with a wide group of top-rated commercial carriers, Oyster brings together several types of coverage into a single, unified platform for businesses.

Available Coverage

• Business Owners Insurance – Fundamental protection for running your business.
• General Liability Insurance – Protection for risks resulting from your products and operations.
• Workers’ Compensation Insurance – Protection for your employees when they are injured or become ill from work.
• Umbrella Insurance – Extra protection beyond existing policies for losses and damages.
• Specialized Coverage – Insurance for specialized coverage across property, cyber, and more unique to your operations.

‍

Merchant Library

We’ve also built out a merchant library for merchants to learn about the basics of business insurance. Our goal is to increase transparency and knowledge for business insurance, and we aim to continue to expand our curriculum going forward.

‍

Merchant Product Suite

With the rollout of Oyster Business Insurance, we have launched a brand new merchant dashboard and expanded the suite of products available for merchants. Through Oyster, merchants can now obtain insurance for every step of their business journey – from obtaining insurance for their business to offering insurance to their customers.

‍

‍

Upcoming Features

This year, we’ll be launching a series of new products and features to further elevate the experience for our business insurance customers. Through expanding our merchant product suite, we aim to enable merchants to get comprehensive business insurance tailored to their operations, with the goal of protecting any merchant of their business risks in our all-in-one insurance platform.

‍

If you’re interested in getting a new business insurance policy or consulting about your current policy, you can get started here. Our team is eager to hear from you!