White label on-demand solution for Top Insurer

  • October 14, 2020
  • Argentina, Brazil, Chile, Colombia, Dominican Republic, El Salvador, Mexico, Panama, Uruguay
deadline:​
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Problem statement & Solution needed

A growing reliance on smartphones, mobile apps, social media and chatbots has impacted both the insurance industry and the consumer. A consumer today now expects the same customer experience when buying insurance as when shopping on Amazon.

Insurers are faced with meeting the demands of tech-savvy consumers, particularly millennials who make up the largest generation of buyers. Millennials are more than twice as likely than other generations to purchase their policies online or through a smartphone rather than through an agent. Consequently, many of the leading insurance technology startups (or InsurTechs) in the on-demand insurance space are those targeting millennials. Simple transactions with no paperwork completed via smartphone are commonplace and consumers are coming to expect the same for insurance.

Who can apply?

Solution of interest:

Big Data | eHealth | GIS | InsurTech | Location Intelligence | On-Demand | Wearables

Business model:

B2B2C | B2C

Technologies:

AI | AI / Artificial Intelligence | Big Data | Biometrics | Blockchain | Chatbots | Cognitive Computing | Data Analytics | GIS | IoT | Machine Learning | Wearables

Maturity - employees:

15

Maturity - Stage:

$ 3M

Partnership model:

Co-creation, Joint-Venture, PoC / Pilot, White-label

What are we offering

Partnership and potential Investment. No monetary prize, although we are looking for a long term relationship

Challenge deadline

00
Days
00
Hours
00
Minutes
03/07/2020
Launch
03/07/2020
14/10/2020
Aplication deadline
14/10/2020
15/10/2020
Evaluate
15/10/2020
23/10/2020
Winner
23/10/2020

Organizer

Headquarters

Colombia

Founded

1944

Employees

15

Sector activity

Insurance

Countries

Colombia, Argentina, Chile, Uruguay, El Salvador

About the company

We are one of the largest LATAM Insurance companies and we have more than 60 years of experience in the insurance industry, with clients in Mexico, Dominican Republic, Panama, Brazil, Chile, Argentina, Uruguay, El Salvador and Colombia. We are committed to the growth of this region and its potential. A key factor in achieving well-being of our customers, competitiveness and sustainability is the talent of our team, people who, united by their differences, work together to achieve the goals and contribute to the development of the countries in which we are present.

Challenge Rules

We only ask for InsurTechs that works on the Latin American region that offer white-label product.

Intermediate agencies of insurance policies are facing a true Challenge in terms of distribution. New technologies are disrupting the market and our company does not want to lay behind its competitors.

That is the reason why we are looking for any solution that helps us distribute better, more and at a smaller cost, without compromising our image.

We are looking for InsurTechs that can create white label products that help our company to distribute at a scale level (increasing leads while reducing the opportunity cost).

The company must be (at least) on a Seed Stage, with more than 500K of funding and must operate in Spain, at least. And we will put focus on:

  • Increase of the nr. of commercialization of policies
  • Innovative solution: as much innovative more opportunities to win, we are looking for unique opportunities
  • Regulation: must follow the current legislation in as much as many countries where we operate
  • Collaborators: the more, more opportunities to win
  • White label solution must be necessary

We accept applications until 14th of October.

Two weeks after, we will communicate the winner privately.

The winner will gain the possibility to launch a Pilot and to scale within the company in a short time.

Our company will consider investing, to acquire or to partner with the winner. And we won’t do any type of communication but the announcement of the winner, which will be a private message between both parts.

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