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General Insurance Mobile Apps for Producers in Latin America

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22 May 2014

Is Agent Mobile Technology on the Move Yet?

Abstract

This report analyzes the use and availability of mobile apps for property and casualty producers in Latin America.

P&C insurance apps for producers are found in a very few countries and provided by very few insurers. However, this is changing; more insurers are deploying mobile apps, and the great majority believe they will have great use and impact in the next three years.

In the report General Insurance Mobile Apps for Producers in Latin America, Celent analyzes the use and availability of mobile apps for producers in Latin America. Celent gathered data on 169 P&C Latin American insurers in 20 countries, focusing on the top 10 of each market, and was able to determine the number of available apps in the market, the current features, and processes supported. From a 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.

Producers are the most significant channel for P&C insurance in Latin America. Overall, there are more than 168,000 producers in the region selling no less than 60% of the premium in each market. Nevertheless, the app availability is relatively low, and only 10 insurers (out of 169 examined in this report) offer an app to producers.

“It is intriguing that producers, the most used sales channel for P&C in the region, have not taken advantage of mobile apps,” says Luis Chipana, Analyst with Celent’s Insurance Group and coauthor of the report. “The starting point should be leveraging the investments and functionality today available in producer portals, while rethinking user experience, products, and processes aimed to the mobile phone and tablets.”

“In the near future, we expect to see functionalities like interactive presentations, needs analysis, automated advisor assistance, appointment management, and virtual meetings, along with a more massive deployment of app functionality as we know it today,” adds Juan Mazzini, Senior Analyst with Celent’s Insurance Group and coauthor of the report. “The pathway is clear; insurers in Latin America started by developing apps for customers, and now mobile apps for producers are becoming the next big thing.”

This report examines the P&C producer focused apps available in Latin America. Celent’s goal is to provide insight into the following areas:

  • What are the P&C app offerings from insurers to producers in Latin America?
  • How developed are Latin American countries in terms of insurance apps offering for producers?
  • What functionalities do insurance apps offer to producers in Latin America?
  • What are the patterns among the available apps in the insurance industry, and what processes are integrated with them?
  • How far has the insurance industry gone, and how much further does it have to go?
  • What is the future of apps for producers in the insurance industry?