(Mt. Chimborazo, Ecuador, whose peak is the furthest point from the center of the earth. Photo credit: Dabit100.)
Editor’s Note: Andrés Cordovez Davalos, CEO, Seguros Equinoccial, SA, is one of 16 finalists for Insurance Innovation Reporter’s Four Stars Award, which recognizes outstanding insurance IT innovators across four regions of Latin America: Mexico, Central America & Caribbean, Andean, and Southern Cone.
Andrés Cordovez Davalos, CEO, Seguros Equinoccial (Quito, Ecuador), looks at the insurance market with an entrepreneur’s eye and sees success as a matter of embracing the digital paradigm. In that spirit, he is leading Ecuador’s Seguros Equinoccial with an ethos of customer choice across a range of channels that provide a consistent level and quality of service.
Seguros Equinoccial is currently the only insurer in Ecuador with online quoting and purchase of both automobile and homeowners’ insurance, complete with a payment button to conclude the sale. The company has developed apps for customers and brokers to manage policy queries, reports, payments and cancellations. Equinoccial also has a Siri-powered tool for internal inquiries about company information. The insurer is currently developing new uses for the tool.
Claims ‘Control Tower’
Equinoccial’s customers can access a claims “control tower” application by which policyholders can track the status of their claims, including progress for repairs on vehicles or other insured property.
Other projects in-flight include an auto-connect feature that utilizes big data and geographic information capabilities to improve immediate claims servicing, including “heat zone” visualization of the location in which the accident took place. Equinoccial is also developing automatic payment to brokers within an application that enables them to manage their relationship with the carrier online. Other initiatives include telework, virtual vehicle and inspections, as well as major infrastructure improvements.