Consumer Mobile Apps in Latin America: 2016 Property & Casualty Edition

by Luis Chipana, September 14, 2016
Product Trends/ Reviews
Latin America

Abstract

Celent has released a new report titled Consumer Mobile Apps in Latin America: 2016 Property & Casualty Edition. The report was written by Luis Chipana, analyst in Celent’s Insurance practice.



In late 2013 Celent explored the app market for insurance clients in Latin America and learnt that about 21% of insurers in the region had developed apps for their clients, though with limited capabilities.

In this report, Celent revisited each company’s website in the Latin American region and revised what apps they had available by Q2 2016. We reviewed Apple Store, Google Play, BlackBerry World, and Windows App store in search of apps provided by Latin American insurers and analyzed the type of functionalities available.

Celent gathered data on 171 property and casualty Latin American insurers in 20 countries and was able to determine the number of apps, the current features, and processes supported. From our 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.

“The growth of smartphone users across the globe have companies, including insurers, rethink and redefine their digital strategy in which mobiles are an important component,” commented Luis Chipana, analyst in Celent’s Insurance Practice and author of the report. “Furthermore, in 2016 about 39% of insurers in Latin America are offering consumer-focused apps, and the majority of insurers in the region have plans to invest in projects related to mobile.”

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

2

 

Key Research Questions

2

 

Methodology

3

The App Market for Insurers

4

 

The App Offering in Latin America

5

 

App Trend in the Region

6

 

Adoption Rates for Consumer Mobile Apps

7

 

Characteristics of Apps

8

Functionality

9

 

Claims

10

 

Account Status

11

 

Office Location

12

 

Customer Assistance

12

 

Policy Quote

13

 

Automobile and Mechanic Assistance

14

 

Data and Marketing

15

Customer Experience

17

 

Best Apps in the Region

17

Looking Forward

19

Conclusion

21

Leveraging Celent’s Expertise

22

 

Support for Financial Institutions

22

 

Support for Vendors

22

Related Celent Research

23

Sign in to download reports and access personalized information