General Insurance Mobile Apps for Producers in Latin America: Agent Mobile Technology Is on the Move
Celent has published a new report titled General Insurance Mobile Apps for Producers in Latin America: Agent Mobile Technology Is on the Move.The report was written by Luis Chipana, analyst in Celent's Insurance practice.
Producers are the most significant channel for P&C insurance in Latin America. Overall, there are more than 202,000 producers in the region, 20% higher than that of last two years ago, selling no less than 60% of the premium in each market.
In 2014 Celent explored the produced-focused app offering in Latin America and learnt that no more than 6% of insurers in the region had developed this technology for producers. In this edition, Celent revisited each insurer’s website in the Latin American region and revised the apps they had available by Q2 2016. We reviewed Apple Store, Google Play, Blackberry World, and Windows App store in search of apps provided by Latin American insurers and analyzed the type of functionalities available.
Celent gathered data on 171 property and casualty Latin American insurers in 20 countries and was able to determine the number of apps in the market, features, and processes supported. From our review of mobile apps and case studies from around the world, Celent was able to determine a possible path for the short term and provide an outlook of how the future might look.
“The growth of smartphone users and the growth of the sales forces in the region have insurers rethink and redefine better ways to serve the producers through digital channels, channels in in which mobiles are an important component,” commented Luis Chipana, Analyst in Celent’s Insurance Practice and author of the report. “Now, in 2016 about 13% of insurers in Latin America are offering producer-focused apps and the majority of insurers in the region are interesting in investing in mobile technology for producers.”