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Consumer Mobile Apps in Latin America: 2016 Life and Health Edition

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5 October 2016

Abstract

Celent has released a new report titled Consumer Mobile Apps in Latin America: 2016 Life and Health Edition. The report was written by Luis Chipana, analyst in Celent's Insurance practice.

In early 2014, Celent explored the app market for insurance clients in Latin America and learnt that about 12% of insurers in the region had developed apps for their clients, though with limited capabilities.

In this report, Celent revisited each company’s website in the Latin American region and revised what apps they had available by Q2 2016. We reviewed Apple’s iTunes 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 172 life and health Latin American insurers in 20 countries and was able to determine the number of available apps in the market, the current 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 across the globe have companies, including insurers, rethink and redefine their digital strategy in which mobiles are an important component,” commented Chipana. “Furthermore, in 2016 about 30% of life and health insurers in Latin America are offering consumers-focused mobile apps and the majority of insurers in the region have plans to undertake projects related to mobile initiatives.”