Celebrating the Paraguay Chamber of Insurtech Event: Five Key Takeaways - Pro Global

Celebrating the Paraguay Chamber of Insurtech Event: Five Key Takeaways

Pro Global Latin America Director Martin Smith shines the spotlight on November’s ground-breaking event in Paraguay


January 8, 2024

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The Paraguay Chamber of Insurtech event in November was nothing short of extraordinary, with the Pro Global Latin America team immersed in the dynamic discussions and excitement surrounding the official launch of the Cámara Paraguaya de Insurtech (CAPI). Here are our five key takeaways:

Launch of Cámara Paraguaya de Insurtech
The highlight of the event was undoubtedly the official launch of the Paraguay Chamber of Insurtech – Cámara Paraguaya de Insurtech (CAPI). The President of CAPI, Mr. Alberto Duarte, opened the conference. This chamber is set to become a pivotal meeting point, fostering collaboration between insurance companies, startups, agents, insurance producers, and regulatory bodies. It promises to be an invaluable hub for the adoption of cutting-edge technologies in the insurance sector, creating a collaborative environment that propels the industry forward.

In-Depth Discussions on Technology Applications

The event facilitated deep discussions on the applications of technology, particularly Artificial Intelligence, in the insurance sector. The industry is on the brink of transformation, and the insights shared at the event hinted at a future where technology plays a central role in shaping operations. Stay tuned for more key takeaways as the industry embraces these advancements.

Pro Global’s Presence and Propel Automation

I was delighted to be invited to speak at this event and used the opportunity to shed light on Pro Global’s commitment to innovation with the recent launch of Propel Automation. This venture focuses on leveraging robotics, automation, and digital tools to enhance efficiency and support the transformation of the insurance industry.

My address provided a global perspective on the trends shaping the insurance landscape. The integration of AI and automation is becoming increasingly prevalent, with projections indicating significant growth in IT spending. The emphasis is on leveraging technology not as a replacement for human involvement but as a tool to enhance capabilities, ensure compliance, improve decision-making, and digitise complex operations.

Automation and AI as Game-Changers

Contrary to common fears of job displacement, Pro Global views automation and AI as game-changers. These technologies are seen as tools that enable the evolution of work methods, optimise processes, and empower teams to focus on tasks of greater importance. Propel Automation, for instance, exemplifies Pro Global’s vision by automating complex activities, ensuring accuracy, and increasing operational efficiency.

Paraguay’s Opportunity to Leapfrog into the Digital Era

Paraguay has a unique opportunity to leapfrog into the digital era. By learning from the best practices, efficiencies, and advancements observed in Europe, the Paraguayan insurtech sector can enhance operational processes, improve customer service, and gain a competitive edge in the global insurance market.

A fast-evolving region

This event was ground-breaking for many reasons. It was fascinating to be part of the discussions around technology, particularly AI and automation, and hear their framing as not the enemy of the insurance industry but a powerful ally. These tools unlock new levels of efficiency and effectiveness, ensuring that the human touch is applied where it is most needed while automating repetitive and time-consuming tasks.

I’d like to thank the organisers for the opportunity to share insights and experiences. Pro Global is committed to bridging the gap between established markets in the UK and Europe and the burgeoning insurtech sector in Latin America. The goal is to bring the best of European tech solutions, further refining them to empower the local industry and shape the future of the insurance landscape in this fast-evolving region.

In celebration of the Paraguay Chamber of Insurtech event, the stage is set for Paraguay’s insurtech sector to thrive in the digital revolution, ensuring competitiveness, efficiency, and a customer-focused approach.

Meet our expert

Name: Martin Smith

Job title: Director Latin America

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