4 Peruvian InsurTech companies transforming the insurance space

By Pavithra R

The InsurTech industry is evolving rapidly. Peruvian InsurTechs are constantly blazing digital transformation trail in Latin America. Here is a list of 4 Peruvian InsurTech companies worth keeping an eye.

Comparabien (2010)

Comparabien is the first financial comparison platform in Latin America. Its main purpose is to develop free-use web solutions that allow users to compare different offers of products and services, free and simple.  Its objective is exclusively to indicate the providers where the user can find the desired product.

This InsurTech is an ideal complement for managing finances through cell phone, a personal financial advisor. Its application is a calculator/simulator that allows to compare the conditions of the different financial products, giving the user the opportunity to choose the best alternative with transparent and impartial information so that they have the power to choose well. Comparabien offers various financial products such as credit cards, mortgages, loans and saving accounts along with disseminating information related to the banking, financial and cell phone fields.

Hello ZUM (2012)

Hello ZUM is an Insurtech startup that has developed a multi-carrier policy admin system for managing sales and post-sales processes digitally, by integrating directly to insurance companies. Its white-label, software-as-a-service and multi-carrier platform ZUM helps manage all sales and post-sales processes for insurance distribution channels. ZUM integrates insurance distribution channels with insurance companies directly and in real-time via proprietary APIs and Web Services, digitizing every manual process of insurance distribution, making the whole industry digitally connected.

ZUM offers 25% savings in operating expenses for both the distribution channel and the insurance company. It has the ability to penetrate and serve new markets (e.g. SMEs, individuals, or any segment with high-transactionality or lower-income), due to a wider digital reach and acquisition cost reductions.

Mapsalud (2015)

Mapsalud offers a mobile and web platform that allows users to find out about the costs and benefits of their health plan. The InsurTech has developed an app offering health insurance plans and information. Its application allows users to know their health insurance. Users can consult the health insurance of all the Insurers in the market and can see the scope of coverage, rates and providers that their health plan has.

Mapsalud offers timely and detailed information on health policy, provides summaries of coverage at the national level and score for benefits applied by the plan.

Inventiva Solutions (2014)

Inventiva Solutions is a technology company specialized in providing digital transformation solutions for the insurance industry. Its solutions allow users to increase productivity, reduce costs, improve customer service and increase their competitive value. Its solutions serve:

1) Insurance Broker: Broker-Up Cloud is a comprehensive (all-in-one) solution that automates all the key processes of the insurance brokering and marketing business. It covers the management of all types of products: corporate, personal and affinity.

2) Financial entities: Broker-Up Bancassurance allows the administration and commercialization of insurance related to credit operations such as credit life (life of debtors), pledge guarantees, financial leasing and renting.

3) Insurance marketing: Broker-Up Affinity facilitates the administration and marketing of mass insurance and microinsurance through channels or mass distribution points of sale.

4) Insurers: Insure-Up is a set of sales and service technology tools (front office) that help insurers to provide a superior customer experience by optimizing all their interaction channels.

ALSO, READ: Cool FinTech Report by IBS Intelligence