At a Glance: Brazil's insurtechs on the map

While Brazil is still looking for the best way to regulate insurtechs, the number of players entering the segment keeps growing.

According to the latest data from the national insurtechs program, linked to Brazilian e-commerce chamber câmara-e net, there are 79 active insurtechs in the country.

In the first survey conducted by câmara-e.net, in June 2017, the number was 25.

São Paulo state houses 62% of them, followed by Paraná, Rio de Janeiro and Minas Gerais, according to the data.

SEGMENTS

The vast majority of the surveyed insurtechs (89.7% of the total) work on applications for the web and 79.3% develop mobile apps.

Nearly 69% also develop application programming interfaces (APIs), targeting the corporate segment (72.4% of the total), the corporate and the consumer segment (65.5%) and the consumer segment (51.7%).

Around 55% of the insurtechs were focused on products for business solutions, 53.5% on digital channel solutions for users, 51.7% on platforms for business, 48.3% on products for individuals and 46.6% on data analytics and big data.

Artificial intelligence and machine learning solutions were used by 27.6% of the insurtechs.

Câmara-e.net says the survey gives a clearer picture on how insurtechs work, which audience they target, which problems they propose to solve, what technologies they use and in what areas they operate.

"More than just numbers, our goal was to have a national panorama of a segment that is growing all over the world," said Beatriz da Rocha Pinto, coordinator of the insurtechs committee at câmara-e.net.

"We have some surveyed companies that are still being analyzed by our team, because we need to see if they fit into the concept of insurtech. So this number could change soon," she added.