APR. 05, 2021
Two companies join forces to launch a game-changer platform for life insurers and brokers in Brazil, and quickly expanding to Latin America, and with an expected valuation of US$10 in 3 years.
Bria launches an innovative solution for a market where health experts, statisticians and insurers / brokers generate more than 5 million data points monthly in risk assessment and customer engagement analysis.
Nion Network continues with its mission in the Latam market to evaluate opportunities and, occasionally, make investments for insurtechs with the potential to optimize the insurance market in Latin America. This was the case with Bria this week: Nion confirmed the agreement with investors that generated an investment of appx. US$ 300,000, in a negotiation that also included the company's intellectual capital contribution and global network to expand to more countries in near future.
According to Thiago Soares, Latam CEO of Nion, the expectation is that, in up to three years, Bria will reach the valuation of US$ 10 million, being among the main insurtechs of underwriting intelligence and digital experience in the personal insurance space.
“Bria has its own development team, health specialists and insurance professionals who support the platform and a 100% digital experience that produces risk assessment and underwriting insights, and customer engagement algorithms”, details Soares. "We currently have more than 10 insurance agents involved in our digital underwriting, customer engagement and health-intelligence projects."
For Joseph Kulmann, managing partner of Bria, Soares' vast knowledge, combined with Nion’s vision on insurance innovation, were two main differentiations that led to this partnership. "The technical vision, the vast market experience together with the vision of innovation that has generated many important contributions for us", he says.
Similarly, the two companies have one goal: to embark together with the purpose of digitally transforming the experience in the relationship between the insurer and the insured.
At this time, the union between Nion and Bria will leverage the moment of changing customer behavior in terms of health care, life and well-being, including intelligence in the evaluation process. Thus, with a consistent base of health procedures and patient attributes, the idea is to add to the process of evaluating and engaging leads with financial, insurance and health products.
Bria's main product consists of a “smart” risk assessment and underwriting framework with a 100% digital journey for individual Life and Group Life insurance.
About Nion Network
Nion is an ecosystem that connects and enables entrepreneurs, corporate partners and insurance professionals to create innovative solutions and a positive impact to shape the future of insurance. Nion does that by creating innovative opportunities for our corporate partners; by giving our members the tools to advance their skill-sets; and by helping entrepreneurs expand their business reach through its exclusive global network of insurance professionals, investors, corporate partners, strategists, data scientists, venture builders, and growth experts.
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Bria is a technology and data analytics company that provides digital tools for insurance companies, brokers and managing general agents (MGA). Through its technology and analysis of statistical health data, Bria’s algorithm assists in the risk assessment and underwriting process. Bria offers “smart” digital solutions for every pre-bind and post-bind steps such as an integrated point-of-sale portal for clients (“API”), a digital submission in-take form with pre-underwriting capabilities, a telemedicine algorithm and a network of medical staff to better analyze the risks at point, and a wellness platform for post-bind customer experience and well-being with gamification strategies.
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