The Rise of Aggregators in Insurance: Ready or Not, Here They Come
View from Latin America
Key research questions
- How are aggregators changing how insurance is being sold?
- What products are aggregators offering?
- What do insurers need to understand about aggregators in the marketplace?
Abstract
This report looks at the current availability of aggregators in the Latin American region and their current offering and business models. It also discusses the potential of this channel for insurance distribution, looking to the development of this space in other insurance markets.
The arrival of aggregators takes business from both the insurers (at least from those going direct) and the intermediaries, but they also bring transparency to the market and provide customers with a simple way to shop around. Other channels, or even insurers reaching directly to the customer, need to figure out where and how they will add value; otherwise they will lose to these low-cost, simple, transparent sale outlets.
In this report Celent explores and analyses aggregators in 17 countries in Latin America and gives insights into the products they offer and how they have evolved in the last three years.