Hugues Bertin, Digital Insurance LatAm: The Importance of Creating Real Value in the Insurtech Industry, Ep 3

In this episode of Hacking Insurance, our host Rodrigo Alfonso talks with Hugues Bertin, Chief Strategic Officer at Digital Insurance LatAm.

Hacking Insurance is a podcast where you can learn about the latest digital trends in the insurance and insurtech world from industry leaders. Our host, Rodrigo Alfonso, is co-founder of Sekure, the LATAM market’s embedded insurance distribution network. Throughout the episodes, Rodrigo will talk with guests about technology, innovation, and the impact of Insurtech on insurance.

20 years innovating in the insurance industry 

Digital Insurance LatAm is a strategy consulting firm specializing in innovation and digital transformation. The company has expertise and connections in the insurance industry and in the world of digital innovation and insurtech. 

Hugues has worked for more than 20 years in the insurance world, in companies such as BNP Paribas Cardif, Mercer, PwC, and more. But after working many years in the corporate insurance sector, he decided to step aside and explore the digital transformation of this industry. In 2018, he left his corporate career behind to create Digital Insurance LatAm. He also joined the venture capital fund HCS Capital as an Insurtech Advisor. 

In this episode, Hugues gives us his perspective on the crisis that the insurtech industry is going through today, especially in countries like the United States. He explains that the problem lies in the fact that, although in the last couple of years insurtech valuations have increased exponentially, this did not translate into actual value creation. And in this edition of Hacking Insurance, Hugues tells us what three problems an insurtech should be solving to create real value in the industry in the long term.

On the other hand, he proposes a disruptive point of view on the relationship between regulation and the insurtech world. Insurance entrepreneurs often feel that regulation does not reform at the pace at which the industry is moving. But Hugues suggests that the solution lies in partnering among entrepreneurs and sitting down to talk with regulators. 

He also suggests that, for the industry to survive in the future, it is necessary to generate recurrence and emotional connections with customers. Finally, he shares in detail his vision of embedded insurance and the MGA model. 

Outline of this episode:

  • [00:30] – Introduction to Hugues Bertin
  • [01:45] – Hugues’ start in the insurance business
  • [03:10] – His perspective on the insurtech crisis in the U.S.
  • [08:00] – The development of the insurtech ecosystem in LatAm 
  • [12:48] – The main challenges for insurtechs to grow and his view on regulation
  • [19:00] – The M&A movement in Latin America
  • [23:04] – Embedded insurance and other business models in the region
  • [29:45] – Recommendations for insurers that want to approach the insurtech world 
  • [32:25] – Recommendations for entrepreneurs who want to enter the insurtech world
  • [36:25] – Recommendations of events, podcasts, books, etc.

Resources and people mentioned:

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