Source: Yahoo Finance
That’s a big part of why Latin America has one of the lowest insurance penetration rates at 1.3%. In addition, 15% of Latin American adults who can afford life insurance policies have one, compared to 52% of U.S. adults.
Miami-based Olé Life wants to change that. It joins others — for example, Equisoft, Turaco, and Acko — in bringing a digital-first approach to regions with low insurance penetration. Others like Mexico-based Minu are offering life insurance benefits via employers.
The full-stack insurance carrier is targeting Latin America’s growing middle class that may have previously been unable to obtain financial protection.
It provides life insurance through the web or a mobile app and has developed a digital underwriting methodology that doesn’t require a medical exam and can underwrite policies of up to $1 million, according to Olé Life co-founder and CEO Michael Carricarte, who has previously founded three other startups in the insurance space.
Read full article: https://uk.news.yahoo.com/ol-life-wants-buying-life-120027929.html
