Fidens Insurtech chosen as the exclusive Platform for BlockRisk’s Product Factory in the U.S.

With the growing need for digitization in the insurance industry and the opportunity to accelerate the distribution of insurance products across all markets, Fidens Insurtech, the renowned and proven digital insurance platform, has been selected by BlockRisk to launch its advanced digital product factory. Initially focusing on the U.S., the BlockRisk team aims to support the “Time to Market” of wholesale brokers in the country through end-to-end digitalization of products, from design to distribution, either traditionally via the web or embedded via APIs.

This innovative way of adding value to the insurance distribution chain uniquely positions BlockRisk to leverage the capabilities of Fidens Insurtech’s ecosystem, known as “Fidens Connect.” This ecosystem includes technological services already integrated into its platform, ranging from business intelligence reports, digital signatures, and identity verification to payment gateways and customer service chatbots. Fidens Insurtech offers more than 20 connected and operational solutions.

“This partnership marks a decisive moment for both companies. At BlockRisk, we are committed to transforming the insurance industry through advanced digital solutions, and Fidens perfectly aligns with our vision. Together, we are crafting a new chapter in the history of insurance distribution in the U.S.,” said Johnny Blatt, CEO of BlockRisk. Alejandro Martínez, CEO of Fidens Insurtech, added, “Providing value with our platform and capabilities to BlockRisk’s product factory in the U.S. is a key milestone for us at Fidens Insurtech. Not only does it support our international expansion strategy, but we also achieve this with an innovative value proposition in the world’s largest insurance market.”

Looking at the future of the U.S. wholesale market, Insurance Journal identifies “two key trends shaping the future of the wholesale insurance industry: the integration of advanced technologies, particularly artificial intelligence, and the use of third-party data and sophisticated algorithms to improve underwriting and portfolio management.” Both trends lie at the core of Fidens Insurtech’s capabilities. Insurance Journal also notes, “Even in 2024, insurance operations were predominantly manual: new technologies, specifically web service APIs, will offer efficiency opportunities through connectivity. While the wholesale insurance industry has traditionally been cautious about adopting technology, it now has the opportunity to optimize operations through improved system connectivity, such as implementing APIs and web services.” This validates BlockRisk’s innovation strategy and highlights Fidens Insurtech’s opportunity to contribute through its platform.

BlockRisk becomes Fidens Insurtech’s first U.S. client just six months after opening its Miami, Florida office in June.

About Fidens Insurtech

Fidens Insurtech revolutionized online insurance distribution in Latin America, becoming a pioneer in the Chilean market in 2002. By 2024, half of the insurance companies in Chile utilize the Fidens Platform to distribute insurance online, either directly or through banks, retailers, and other partners. Fidens Insurtech is also an internationally recognized provider of insurance solutions by Celent, which ranked the Fidens Platform among the best solutions in EMEA, APAC, and LATAM. Its new “Fidens Connect” ecosystem includes world-class partners who offer Fidens Insurtech clients the ability to quickly and easily add their technological services to the platform. Today, Fidens Insurtech serves clients in Chile, Bolivia, Peru, and the U.S., dedicating itself to accelerating digital insurance distribution to protect more people and businesses in any international market.

About BlockRisk

BlockRisk is a product factory that can offer scalable solutions, empowering insurers, brokers, and MGAs to innovate with new ideas, solutions, and proposals tailored to meet their clients’ evolving needs. By using modular technology that provides the framework and components necessary for a company to be more agile and flexible, BlockRisk drives business growth effectively and efficiently in today’s digitally competitive world.