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Latin America: Contributions of insurtech during the pandemic

Many years passed, they had to go through a pandemic like the current one, which took us by surprise and gave us a great lesson: we were not prepared to face an event of such magnitude, which is fueled by other problems that we already had worldwide.

The arrival of the Coronavirus has led many economic sectors along paths that perhaps they did not intend to travel in a short term due to the efforts and investment that this requires, but thanks to the insurtech, many companies were able to stay afloat, innovate, stay and continue growing.

  1. Simplified and on-demand products:

This is one of the first changes that we can observe for the insurance industry. The health crisis has highlighted the need to be able to have the backing of insurance, especially associated with health insurance.

Insurtech have been able to identify the previous need and began to popularize simpler, personalized and accessible protection options.

In the auto industry, «pay for what you drive» or «Pay as you drive» has been a benefit for drivers due to social distancing. Clearly, customers who use vehicles less due to all this current situation, are looking for options and benefits that allow them to take advantage and save.

2.Telemedicine heyday

Telemedicine has positioned itself as the complement to health insurance. The benefits of technology have allowed close and fast communication from wherever the patient is with his doctor, making a comfortable and safe virtual experience possible.

This is not everything! But what is missing we will reveal to you in our next article. Wait for the second part that will be available soon.

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