Insurtech had a life of its own at Finnosummit Mexico 2019
This year for the first time the conference ran four days, along with the fintech week. From September the 10th to 13th, over 3,000 attendees of the Fintech and Insurtech ecosystem connected to foster the region’s industry transformation through collaboration.
Finnosummit Mexico brought two days focused on Fintech and the other two on Insurtech and Financial Inclusion, with plenty of activities: keynotes, panels, workshops, meeting spaces for networking, after hour cocktails, dinners, and competitions of startups, among others.
Around 500 people registered for the Insurtech day of the conference and during that day I had the privilege to serve as judge for the Insurtech competition.
The Insurtech category of Finnosummit Challenge looked for the most innovative early stage startups working on a technology-based solution with the capacity to fuel innovation into the insurance industry in Mexico and Latin America, including B2B and B2C solutions.
Examples of technologies leveraged by Insurtech firms include Blockchain, Artificial Intelligence, Drones, Connected ecosystems, Big Data and Advanced analytics, Robotic process automation, Robo advisor and Wearables; in areas of the value chain such as Product design, Front office, Underwriting, Policy acquisition and subscription, Claim servicing and payout.
This year’s finalists are highlighted in the table below. Half of them targeting claims servicing and the other half, distribution.