Mexico has over 85 million (65% of total population) internet users and out of those around 78 million people use mobile. Even after having such a huge number of internet users there are not many good online insurance providers in Mexico. Having not enough awareness about insurance products is a challenge in Mexican market, however things are changing at a faster pace. Our client saw a huge opportunity in this space, hence the birth of Bruno.
We spent 5 days in Monterrey, a beautiful city which is a capital of Nuevo León.
Monterrey is hi-tech and advanced in terms of infrastructure as compared to most
of other Mexican cities.
We interviewed all the stakeholders (insurance experts) and 5 different users. Based on these interviews we find out that all insurers depend on their traditional sales force that is incentivised by commissions but not aligned with the user's needs. Users stick to the canned products that the market offers through traditional channels that partially respond to their risk profile. To be able to satisfy their needs, they have to go with different suppliers and do not always find all the coverages they require or end up buying coverages that more closely resemble what they need.
The major goals of the project were: