LISA Insurtech is a company that, despite having started its operations in 2018, has already expanded to many countries worldwide and just recently entered the insurance market in Argentina.
Although the Argentinian market suffers from capitalization and investment problems resulting from the lag of financial results against inflation, it’s an exciting market for LISA, with many insurance companies aiming to provide a close and humane service, especially in the most painful moments when a loss has already occurred.
On June 27, our CEO, Gino Bustamante, was interviewed by 100% Seguro to discuss the company’s current and future plans.
LISA Insurtech’s first steps were taken in 2018 with minimal resources. In 2021 it managed to raise an investment round of 2,5 million dollars funded by HCS Capital. This helped accelerate all the ideas and dreams the company had in mind in many countries.
Today, LISA operates in Chile, Mexico, Peru, Colombia, Spain, Ecuador, Bolivia, and the United States. Currently, Argentina has opened its doors to the company, where they already have its first client in Health, Auto, Life and Home branches.
Regarding LISA’s value proposition, Gino said that what generates a differential value is that there is a clear focus for claims, which arises from the little empathy that the insurers detected in the attention to their policyholders in such a painful moment.
LISA Insurtech can do this through artificial intelligence that analyzes photographs and documents that show the damage or the size of the claim and, in only 2 minutes, can have a proposal for adjustment or solution to the claim.
Although when LISA began its operations there was a need to pivot and evangelize the use of technology in the industry because of skepticism, today, the progress is enormous, and people are more informed and open to new solutions.
What are LISA’s future horizons?
New products will soon be launched, more focused on sales, marketing, underwriting and customer service, with some pilots already available.
LISA Insurtech wants to continue adding value solutions to the industry’s current problems. First, the lack of interoperability between all the actors involved with the insurance company and, second, the of claims prevention and early detection.