Being present at an innovation event such as “CQCS Insurtech Innovation” reinforces the importance of working together – brokers, insurance companies and regulatory entities – to generate innovations that contribute to the generation of new business amidst an increasingly challenging economic scenario . The statement was made by the CEO of Minuto Seguros and vice president of the new Creditas insurance unit, Marcelo Blay, upon confirming the company’s presence at the event to be held on November 23rd and 24th, at Pro Magno Centro de Eventos, in Sao Paulo.
According to him, the insurance market in Brazil has undergone several changes in recent years, including innovations developed by insurance companies, new products and business models, new rules adopted by regulatory bodies and new companies and investors arriving to participate in the sector. “In parallel to all this, the Brazilian economic scenario has been increasingly challenging with the increase in inflation and interest rates, and we are still witnessing a pandemic in progress, unfortunately”, emphasizes the executive, adding that the reflections on these aspects that affect insurtechs in Brazil and the exchange of experiences with other professionals, provided by “CQCS Insurtech Innovation”, offer “the opportunity to create new solutions for the challenges that lie ahead” and which, for this reason, believes in be “very important for Minuto Seguros to be present at the event”.
Blay also highlights that Minuto Seguros understands the combination of technology and quality human service as fundamental for attracting and retaining customers. “We have to be helpful, fast, transparent and efficient in all our processes. This demands investing in innovation, of course, but also in people, in teams of consultants who specialize in insurance”, stressed the CEO of Minuto Seguros, stressing that when the company was launched 10 years ago, this vision proved to be true and continues still valid today. “For this reason, we reached the position of the largest Auto Insurance brokerage in Brazil and the largest online brokerage, leader in the sale of insurance over the internet in the country”, he emphasizes.
He also recalls that, recently, it was announced that Minuto became part of Creditas, a fintech leader in credit and consumer solutions in Latin America. This agreement, in his view, will diversify and increase the offer of products, generating several new businesses that benefit our customers, Creditas customers and the insurance companies themselves. “Considering our history of success and the new possibilities arising from the union with Creditas, Minuto has a lot to contribute by sharing experiences and learning with the congressmen of CQCS Insurtech Connect”, assures the executive.
Blay also points out that Minuto Seguros has invested a lot in technology to make the customer’s life easier, both in the insurance quote process and when finalizing the purchase, renewing the policy and offering assistance whenever necessary. Thus, through innovative processes, an online platform was developed where customers can quote their Auto Insurance quickly and transparently, and “have access to products with an excellent cost-benefit ratio”.
However, he points out that, if today it has the 16 largest insurance companies in Brazil integrated in the platform, at the beginning of this trajectory, many and long meetings were necessary to “convince the insurance companies to give us a chance to develop technology together”.
According to the executive, at that time there was no talk of APIs or insurtechs. “In some ways, we were trailblazers. In this sense, I believe that Minuto’s innovation processes are important because, in the final analysis, they benefited not only Minuto but the insurance market in Brazil as a whole”, he stresses.
Finally, Blay points out that he wants to share this entrepreneurial journey so he can serve as a source of inspiration for anyone interested or at a strategic crossroads. “In some ways, we were pioneers in launching a digital insurance brokerage at a time when there was no such thing. We have also shown that it is possible for a broker to raise funds through venture capital and foreign capital funds, until then something restricted to large multinational brokers. And now, with the merger with Creditas, we are signaling that it is possible for companies in the sector to join forces with large fintechs. It has been a journey full of mistakes and successes and I believe we can share our experience with everyone”, he concludes.