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Life & Health Insurance Mobile Apps for Producers in Latin America

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22 May 2014
Juan Mazzini
Luis Chipana

Is Agent Mobile Technology on the Move Yet?

Abstract

This report analyzes the use and availability of mobile apps for life producers in Latin America.

Life and health insurance apps for producers are found in a very few countries and provided by very few insurers. However, this is starting to change; more insurers will be deploying mobile apps, given that the great majority believes apps will have great use and impact in the next three years.

In the report Life & Health Insurance Mobile Apps for Producers in Latin America, Celent analyzes the use and availability of mobile apps for producers in Latin America. Celent gathered data on 168 life & health Latin American insurers in 20 countries, focusing on the top 10 of each market, and was able to determine the number of available apps, current features, and processes supported. From a 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.

Producers are the most significant channel for life insurance in most Latin American countries. Overall, there are more than 168,000 producers in the region selling no less than half of the premium in each market, except for Chile and Brazil. Nevertheless, app availability is very low, and only four insurers out of 168 included in this report offer an app to their producers.

“It is intriguing that producers, the most used sales channel for life and health in most of the countries in the region, have not taken advantage of mobile apps,” says Luis Chipana, Analyst with Celent’s Insurance Group and coauthor of the report. “The starting point should be leveraging the investments and functionality today available in producer portals, while rethinking user experience, products, and processes aimed to the mobile phone and tablets.”

“In the near future we expect to see more insurers providing mobile apps to producers, at least with basic functionality, as a consequence of competition and market evolution,” adds Juan Mazzini, Senior Analyst with Celent’s Insurance Group and coauthor of the report. “As the offering evolves we expect to see functionalities like interactive presentations, needs analysis, automated advisor assistance, appointment management, and virtual meetings, along with voice recognition capabilities.”

This report examines life & health producer-focused apps available in Latin America. Celent’s goal is to provide insight into the following areas:

  • What are the Life & Health app offerings from insurers to producers in Latin America?
  • How developed are Latin American countries in terms of insurance apps offering for producers?
  • What functionalities do insurance apps offer to producers in Latin America?
  • What are the patterns among the available apps in the insurance industry, and what processes are integrated with them?
  • How far has the insurance industry gone, and how much further does it have to go?
  • What is the future of apps for producers in the insurance industry?
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