Salvadoran InsurTech Sostengo raises $3.8m in recent funding round

TLDR:

Salvadoran InsurTech Sostengo secures $3.8m in funding round
Plans to expand digital insurance solutions to underserved markets

Article Summary:

Sostengo, a Salvadoran InsurTech, has secured $3.8m in funding to expand its digital insurance solutions, with plans to enter the U.S. market. The investment round saw participation from PeopleFund, establishing a joint operation. Sostengo’s innovative approach has led to a significant growth in premiums sold, addressing the vast unprotected segment of vehicles in Central America that are uninsured. The company aims to bridge this gap by providing a consumer-centric, customizable, and accessible insurance solution through its mobile platform. CEO Estuardo Escobar expressed excitement about evolving the industry and pioneering the digitalization of insurance in the region. The funding will enable continued growth in Central America and the introduction of tailored solutions to U.S. Hispanics.

Post Views: 319

Latest from Blog

AI boosts UK insurance fraud, revealed in report.

AI Helping Rise in UK Insurance Fraud, Report Shows TLDR: Nearly one in five insurance claim handlers believe many fraud claims now involve fake supporting documents created using AI tools A Law360

“Swiss Re boosts GenAI-powered partnership for P&C reinsurance expansion.”

TLDR: Swiss Re has expanded its partnership with a generative artificial intelligence (GenAI)-powered company to include property and casualty (P&C) reinsurance operations. Swiss Re partners with GenAI-powered company for P&C reinsurance operations.

Cutting-edge Risk Management Solutions for Insurance Companies.

Enhancing Risk Estimation and Pricing Strategies TLDR: Key Points: AI and big data analytics are transforming risk management in the insurance industry. Regulatory pressures and new technologies are driving AI adoption in

Your Daily InsurTech Briefing – 2024-09-24

Let’s see what’s in the news today. Insurers grapple with AI ethics and regulation USAA, MMG Insurance and Munich Re executives spoke about these insurers’ efforts to model risk and use data

AI fuels surge in UK insurance fraud with falsified claims

“`html TLDR: 65% of insurance claims handlers have noticed an increase in fraudulent claims since the cost-of-living crisis hit. 19% suspect that up to one in four claims are now using fake

Japan Insurers Group Urges Members to Reduce Cross-Shareholdings for Success.

TLDR: Key Points: Bloomberg article discussing unusual computer activity Users are being prompted to confirm they are not robots Article Summary: The Bloomberg article addresses the issue of users being asked to

Revolutionize ridesharing in Japan with Automobile Insurance for Mobility Providers.

TLDR: Tokyo Marine & Nichido Fire Insurance will begin selling “Automobile Insurance for Mobility Service Providers” in Japan starting in January 2025. This insurance policy is designed for ridesharing services utilizing private

LinkGevity scores Deep-Tech EU Grant for cutting-edge innovation!

“` Key Elements of LinkGevity Article TLDR: LinkGevity awarded Women TechEU grant for AI-driven drug discovery Company uses proprietary Blueprint Theory of Aging for innovative approach to drug discovery Article: LinkGevity, an

Insurance companies battle ethical and regulatory challenges of AI technology.

TLDR: Insurers and insurtechs are grappling with the ethics and regulations surrounding the use of AI in their businesses. The U.S. and Europe have adopted models and frameworks for AI use in

Genius.AI teams up with ClickBank for AI digital marketing!

TLDR: Genius.AI partners with ClickBank to revolutionize digital marketing with AI-powered solutions. The collaboration introduces cutting-edge AI technology to ClickBank’s affiliate network, simplifying processes for new and experienced users. Genius.AI, a leader

Suggestions

Salvadoran InsurTech Sostengo raises $3.8m in recent funding round

TLDR:

Article Summary:

Latest from Blog