The Panorama of the Insurtech

The Latin American stop of the ITC + DIA World Tour took place online on 9/15/2020 and began with the welcome from Caribou Honig, President of InsureTech Connect.

Then Karlyn Carnahan, Celent’s North America Insurance Director, spoke on “Who Will Buy Direct and Why? A Case for Business Insurance.”

“52% of microenterprise insurance buyers are satisfied with the way they buy insurance, but would like to have more options,” he said, noting that the key is to demonstrate value to clients who have no claims.

Next, it was the turn of John Swigart, CEO and Co-Founder of PIE Insurance, who brought his expertise in setting up and launching PIE Insurance, a true insurtech success story. He touched on the critical areas that make a difference in the insurtech market: “efficient pricing, an appetite for growth and a better experience than customers expect,” he said. John also highlighted the importance of companies partnering with each other to provide superior solutions.

Panel on “Is Insurtech Pushing the Boundaries of Insurance?” it had Manuel Escobedo, CEO of Peña Verde Group; Sabine Vanderlinden, CEO, Co-Founder and Managing Partner of Alchemy Crew; and Eduardo Iglesias, CEO and co-founder of eColon, analyze whether insurtech is effectively pushing the limits of the insurance industry.

These are some highlights of the panel:

  • “Our clients ask us for new types of coverage, new types of products. They need new life coverage, health insurance, cyber risk coverage. Companies need to bring new solutions to those risks that this new world has inspired,” said the eColón executive. Eduardo Iglesias.
  • “We are entering a world of constellations of value creation, a world where we have to make value proposals and unite them with risk solutions and for this, join the offers of many companies,” said Escobedo. He also added: “It is necessary to understand the ecosystem, what is happening to create the vision of the way you want to do it and know who is playing. We no longer live in a world defined by companies,” said the CEO of Grupo Peña Verda.
  • “We need to rebuild the new trust system together with our customers”, completed the CEO of eColón.
  • “Today you see a new client coming to the market, such as digital nomads, who must also be satisfied. I think that from the insurer’s point of view you are going to see those who really want to change the operation by focusing on efficiency, innovation. , changing processes and making them more digital.” concluded Vanderlinden.

Finally, the Pitch Competition brought together 5 finalists:

Source: CELENT
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