On October 27, the Asociación Insurtech de Colombia (AIC) held the inaugural AIC Insurtech Conference at the Bogotá Chamber of Commerce’s Chapinero venue. The event brought together insurers, reinsurers, intermediaries, insurtechs, technology companies, industry associations and international experts to discuss how innovation can translate into greater protection for individuals and businesses.
Across nine conference sessions, participants discussed the application of artificial intelligence in insurance, Open Finance and Open Insurance, new distribution channels, embedded insurance, parametric solutions and climate risks. One message ran through the conversations: transformation requires a combination of technology, insurance expertise and collaboration among industry stakeholders.
| “Transforming the insurance industry is everyone’s responsibility; it is not the task of any single player.”
Mathilde Viola, Executive Director of AIC, during the opening remarks. |
Turning conversations into proposals
During the industry associations’ panel, Gustavo Morales, Executive President of Fasecolda, outlined a proposal submitted to the national government to strengthen private-sector participation in preparing for and responding to catastrophic risks. The discussion underscored the protection gap affecting homes and the need to explore public-private partnership models.
▸ “We have already submitted that proposal to the national government, and they are reviewing it with interest.”
Gustavo Morales, Executive President of Fasecolda.
The Open Finance discussion also called for stronger collaboration among Fasecolda, ACOAS, ACOIS and AIC. Rodrigo Alfonso, Chair of AIC’s Board of Directors, encouraged the industry to begin developing use cases and pilots instead of limiting the conversation to technological preparations for regulatory compliance.
▸ “Open Finance is not a technology project. Open Finance is a business project and a business strategy project.”
Rodrigo Alfonso, Chair of AIC’s Board of Directors.
Technology measured by its impact on customers
The heads of Colmena Seguros, SBS Seguros and BNP Paribas Cardif shared their experiences with automation, customer service and claims payments. Andrés Mendoza, President of Colmena, argued that the speed and quality of claims settlement should become visible indicators for consumers and a new dimension of competition among insurers.
The conference also featured Rick McCathron, CEO and President of Hippo, who shared lessons from the evolution of insurtech in the United States. He explained that modernization requires combining insurance business expertise with technology: Hippo now receives approximately 90% of its initial claims notifications through AI agents, while keeping claims settlement in human hands.
| “At Hippo, we do not start any artificial intelligence project unless it delivers a benefit to the customer.”
Rick McCathron, CEO and President of Hippo (English rendering of the Spanish press release). |
Innovation that expands protection
Afternoon panels presented results from embedded and parametric insurance, including examples of insurance distribution integrated into digital platforms and coverage against climate-related events. FARO XXI, a regional initiative led by the Alianza Insurtech Panamericana and Boston Consulting Group, provided a collaborative roadmap designed to move the sector from diagnosis to action.
The inaugural edition was supported by eight sponsors (In Motion, Colmena Seguros, Allianz, Fasecolda, Busqo, Seguros Bolívar, BMI Seguros and Gistek) and opened up further conversations about use cases, pilots and partnerships. AIC will continue creating opportunities for traditional insurance companies and technology players to work together toward an industry that is more accessible, efficient and customer-focused.
| About Asociación Insurtech de Colombia
AIC is an association connecting insurers, reinsurers, intermediaries, insurtechs and technology providers to drive the transformation of the insurance industry through innovation, knowledge-sharing, collaboration and public policy dialogue. More information: [email protected] |
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