Mario Nogueira | CEO & Division Head, Ebix Latin America
Digital transformation is reshaping industries around the world — and the insurance sector is no exception. In recent years, insurtechs have emerged as key drivers of this revolution, delivering innovative solutions that combine technology and operational efficiency for insurers and brokers. These technology-focused organizations — ranging from startups to established global companies — are redesigning processes, enhancing customer experience, and redefining traditional business models.
Within this landscape, Ebix Latin America stands out as one of the leading global insurtechs, developing digital solutions that drive efficiency, automation, and integration across the insurance ecosystem.
But what exactly are insurtechs, and why are they transforming the market so rapidly? Let’s explore this phenomenon and understand its impact on the evolution of the insurance industry.
What are Insurtechs — and How Are They Transforming the Market?
The term insurtech derives from the combination of “insurance” and “technology.” These companies leverage technological innovation to optimize operations, enhance the customer experience, and deliver more flexible and accessible solutions.
Insurtechs are breaking traditional barriers in the industry by introducing new possibilities such as:
- Automated, paperless, and online quoting and policy issuance, streamlining bureaucratic processes while improving the customer experience.
- Artificial Intelligence for personalized pricing and underwriting.
- Digital signatures and blockchain to enhance transaction security and transparency.
- On-demand insurance models, enabling flexible, instant policy purchases.
Ebix Latin America exemplifies an insurtech that not only embraces these innovations but also leads this transformation, offering a comprehensive digital portfolio for insurers and brokers.
The Critical Role of Insurtechs in Operational Efficiency for Insurers and Brokers
One of the most significant contributions of insurtechs is their ability to boost operational efficiency, enabling insurers and brokers to streamline workflows and deliver faster, more personalized services.
Process Automation
Automation has been one of the greatest revolutions brought by insurtechs.
Digital platforms now replace time-consuming manual tasks such as risk analysis and claims processing — reducing costs and increasing productivity.
Ebix provides solutions that integrate policy management, predictive risk analysis, and claims management into a single digital environment, ensuring greater efficiency for both insurers and brokers.
Enhanced Customer Experience
Today’s consumers are more demanding and expect personalized and accessible services. Insurtechs are investing in intuitive platforms, AI-powered chatbots, and mobile applications that simplify customer interactions.
Ebix Latin America focuses on personalized engagement, enabling insurers to create tailored offerings that strengthen relationships and raise customer satisfaction levels.
The Impact of Insurtechs on the Growth of the Insurance Market
The global insurtech market has shown accelerated growth in recent years, fueled by significant investment and the ongoing digitalization of the insurance sector.
According to the Global InsurTech Report Q3 2024 by Gallagher Re, global funding for insurtechs reached USD 1.38 billion in the third quarter of 2024 — the highest level since early 2023 — indicating a renewed wave of investor confidence in the segment.
Complementing this, McKinsey & Company estimates that over USD 10 billion has been invested globally in insurtechs since 2012, signaling the maturity and consolidation of this emerging market.
The Swiss Re Institute reports that insurtechs already represent around 5% of the global insurance market, with expectations to reach 10% by 2030, driven by new business models and the adoption of emerging technologies such as AI, automation, and data-driven solutions.
McKinsey’s Technology Trends Outlook 2024 further highlights how these technologies are transforming core insurance processes — from customer service to underwriting and policy distribution — delivering a more efficient and personalized experience.
In Latin America, Brazil stands out as the region’s primary insurtech hub.
According to Revista Cobertura, the country accounts for 57.2% of all insurtechs in Latin America, reinforcing its regional leadership.
Moreover, the presence of these companies is not only expanding but also maturing.
As published by Época Negócios, between August 2024 and January 2025, the number of active insurtechs in Brazil grew by 6%, while the mortality rate fell from 12% to 7% — reflecting greater stability and resilience in the sector.
Currently, Brazil has 206 active insurtechs, ahead of Mexico (120) and Argentina (88), according to Insurtech Brasil.
This growth is driven by continuous investment in new technologies, which democratize access to insurance and enhance the customer experience.
Digital platforms are facilitating interaction between insurers, brokers, and consumers, making the sector more competitive and accessible.
As one of the leading global insurtechs, Ebix Latin America spearheads this movement, offering technological solutions that modernize insurance management and distribution, driving large-scale efficiency and innovation.
Financial Inclusion and the Democratization of Insurance
Digital platforms play a crucial role in expanding insurance access to new audiences, promoting financial inclusion and helping to grow the market.
The digitalization of financial services has been fundamental in bringing new consumers into the insurance ecosystem. Through innovative technology platforms, insurtechs are eliminating long-standing barriers — such as complex bureaucracy, high entry costs, and lack of transparency — making insurance more accessible and aligned with modern consumer needs.
By democratizing access to insurance, insurtechs not only expand market opportunities but also play a socially relevant role, providing greater financial protection and stability to a more diverse population.
This movement reinforces the importance of technological innovation as a key driver of modernization and sustainable growth in the insurance sector.
The Future of Insurtechs — and How Ebix Is Leading the Way
The future of insurtechs is promising, and companies that invest in technology and innovation will remain at the forefront of this industry-wide revolution.
Among the key trends shaping the coming years are:
- Broader use of AI and Machine Learning for risk prediction and personalized underwriting
- Growth of Open Insurance, promoting transparency and interoperability
- Implementation of Blockchain and smart contracts for enhanced automation and security
As a global leader in insurance technology, Ebix Latin America continues to innovate to meet market demands — ensuring that insurers and brokers stay ahead of this evolution.
Conclusion
Insurtechs are reshaping the insurance landscape by bringing efficiency, innovation, and accessibility to every stage of the value chain.
Organizations that embrace these solutions are becoming more competitive and better prepared for the challenges of the future.
Ebix Latin America stands at the forefront of this transformation, delivering digital solutions that are redefining the insurance industry.
To learn more about how your organization can benefit from these innovations, speak with our specialists and become part of the insurtech revolution.
About Ebix Latin America: The Leading Insurtech in the Insurance Market
Learn more: Ebix Latin America
Ebix Latin America is a global insurtech specializing in the development of innovative technology solutions for insurers and brokers. As a reference in insurance technology, we offer the most comprehensive digital stack, ensuring efficiency, automation, and integration across all areas of the global insurance industry.
With around 400 professionals and offices in São Paulo, Rio de Janeiro, and Curitiba, we serve the entire Latin American region, being the largest company exclusively focused on insurance technology in Brazil.
We transform challenges into innovation. Join this revolution in the insurance market.
