Owen and Algoan become partners to offer new services using Open Banking data

Owen, a new-generation insurtech

The insurtech Owen aims to reinvent both the way insurance is distributed and the experience of purchasing insurance. Founded in 2022 by Pierre-Olivier Grall and Thibault Masson, Owen enables fintechs, digital platforms and insurers to embed contextual insurance products directly within their own services and products.

With a comprehensive API, modular integrations, and an infrastructure designed for fast deployment, Owen allows its partners to launch insurance offerings tailored to their customers’ needs across Europe.

Among its strengths, Algoan highlighted:

• A very fast go-to-market (a few weeks) for fintech partners.
  
  
• A modular architecture that adapts to the partner’s tech maturity (full API or a plug-and-play link).
  
  
• Fully embedded insurance products within credit journeys, BNPL flows, e-commerce or mobility services, with premium service options.
  
  

Owen therefore embodies the evolution of insurance toward an integrated offering rather than a standalone product, an evolution that mirrors how users’ expectations and behaviours are shifting across financial services.

The Owen & Algoan partnership

In this context, we are pleased to announce our collaboration with Owen. Through this partnership, Algoan will provide Owen with a tailored analysis of customers’ banking situations (via our APIs) to enhance the level of personalisation and contextualisation of the insurance offerings delivered through partner fintech interfaces.

In practice:

• Algoan collects and analyses customers’ banking data through Open Banking, using our Transaction Data aggregation product and our Credit Insights analysis engine.
  
  
• This analysis is then shared with Owen, in full compliance with regulations and with explicit customer consent, to instantly propose an insurance offer adjusted to the customer’s situation.
  
  

Thanks to this cooperation, Owen can refine its benefits, adjust premiums, and provide differentiated coverage levels or premium options based on the customer’s banking profile. For example, a customer with a fragile financial situation may be offered coverage for day-to-day expenses that is more tightly adjusted (amount, duration, flexibility). A customer with a more stable financial situation may benefit from a broader offer.

In essence, the Algoan & Owen collaboration provides end customers, as well as partners (fintechs, banks and credit institutions), with a personalised, contextual and proactive insurance solution, grounded in the customer’s real financial situation rather than static offers.

What It looks like in practice: A typical customer journey

Let’s take the example of a customer applying for a personal loan (or car financing) from a credit institution or fintech partner.

Step 1: Financing application

The customer fills out their application online or through the partner’s mobile app. They agree to connect their bank accounts via Open Banking for analysis.

Step 2: Banking analysis by Algoan

Algoan retrieves the customer’s banking data (transaction history, income, expenses, balances, potential incidents) and analyses it. Within seconds, a precise assessment of the customer’s situation is produced and instantly transmitted to Owen through the API.

Step 3: Integrated insurance proposal by Owen

Thanks to the integration of Owen’s API into the journey, the institution or fintech can present a contextualised insurance offer. The amount, duration and conditions of the offer can be adjusted according to the customer’s budget profile as identified by Algoan.

With Algoan’s analysis, the credit decision is made quickly, and Owen’s insurance is embedded in the final offer.

Through this partnership, the customer benefits from a seamless financing and insurance journey, fully tailored to their real situation and frictionless end-to-end.

The integration of Algoan into our API strengthens our ability to deliver contextual insurance with unprecedented precision. By combining intelligent banking data with insurance APIs, we offer fintechs and credit institutions an entirely new way to distribute useful, relevant and rapidly deployable protection services.

Thibault Masson, Co-founder of Owen.

Benefits and added value of this collaboration

For the partner (credit institution, BNPL fintech, etc.)

• Improved conversion : A smoother, uninterrupted journey with an embedded insurance offer enhances the overall value proposition and reduces friction.
• Risk reduction : Thanks to Algoan’s banking data analysis, partners gain a clearer view of the customer’s real financial situation. This enables more accurate insurance calibration (via Owen) and credit decisions, reducing overall risk.
• New revenue streams : Embedded insurance can generate additional revenue or increase margins and customer retention.
• Competitive differentiation : Offering real-time, contextualised insurance becomes a strong differentiator in a market where customer experience and personalisation are key.
• Compliance and security : By relying on specialised players, partners ensure that Open Banking data analysis and insurance processes remain fully compliant (GDPR, PSD2, etc.).

For the end customer

• Personalised offer : The insurance proposed is adjusted to the customer’s real situation. This means that customers with significant expenses or specific budgeting behaviours may be offered more relevant or more protective coverage.
• Fluid experience : Integrating insurance at the point of financing prevents customers from having to look elsewhere, fill in extra forms or compare additional offers. The journey is simplified.
• Clarity and transparency : By relying on banking analysis and clear indicators, the offer matches the customer’s financial reality, reducing the risk of over-insurance or unsuitable engagement.

The collaboration between Algoan and Owen increases the perceived value of Open Banking for both customers and partners: beyond the credit score, it allows the delivery of a wider range of personalised services. It also supports a vision of more responsible finance: thanks to banking analysis, the insurance proposal is adjusted to each customer’s situation. This partnership is fully aligned with Algoan’s mission to make credit fairer, more transparent and more accessible.

Christelle Diguet, Marketing, Communication & Design Director at Algoan.

Conclusion

This partnership between Algoan and Owen marks an important step toward more integrated, personalised and responsible financial services.

By combining Algoan’s banking-analysis capabilities with Owen’s embedded-insurance expertise, our partners (fintechs, credit institutions, BNPL players, etc.) can offer their customers a comprehensive financial service: financing + contextualised insurance, within a smooth and fully digital journey.

We are convinced that this synergy will help better protect consumers, improve partner performance and unlock the full value of banking data in tomorrow’s financial ecosystem.

Feel free to contact us to learn more about this partnership, explore an integration or discover how it can enhance your offering.