Unbundling

{
  "id": "MLC-T-INS-003754",
  "term": "Unbundling",
  "field": "Insurance and risk management",
  "definition": "The practice of separating a product or service into its individual components, which are then sold or priced independently. In insurance, this involves breaking down a policy package into its constituent coverages, allowing customers to select and pay for only the specific protections they need. For example, an insurer might unbundle a homeowners policy by offering separate pricing for property, liability, and flood coverage instead of a single package premium.",
  "url": "https://mlchart.com/terminology/insurance/unbundling/"
}