About Momento Seguros and Its Founder, Lois Rogel Vence
Momento Seguros, a Mexican insurtech founded and led by Lois Rogel Vence, has recently closed a Series A funding round with investors specializing in fintech and insurance. This strategic move aims to accelerate the company’s growth in 2023 through two primary avenues: investing in technology and expanding geographically.
Momento Seguros’ Mission and Technology Focus
Established four-and-a-half years ago, Momento Seguros sought to modernize a stagnant insurance product using technology. The company has since built an operation centered around vehicle insurance, including autos and motorcycles, with fully digital processes for quoting, contracting, payments, and claims management through a mobile app.
Rogel Vence aims to expand Momento Seguros’ presence across almost all Mexican states, gradually increasing their footprint. A key differentiator is the use of artificial intelligence to better segment risk, adjusting prices with more variables to prevent low-risk profiles from paying for fraud or high claim rates. On average, a good profile can save 20-30% compared to traditional insurers, though the final price depends on individual cases.
Claims Management and Customer Experience
Momento Seguros addresses a critical aspect of insurance—claims handling. The company combines digital attention with traditional operations based on the incident’s nature. For minor damages, users can report issues via app, answer a questionnaire, upload photos, and receive quick authorization. The company boasts an eight-minute record for such cases.
For more complex incidents involving third parties, injuries, or responsibility disputes, Momento Seguros employs in-house adjusters and on-site assistance. The company has grown through direct acquisition and distribution, leveraging strong social media presence and collaborations with agents and brokers to expand reach beyond proprietary channels.
Market Trends and Opportunities
Rogel Vence highlights the post-pandemic growth of motorcycles in Mexico City, noting a more than threefold increase in the last four to five years. This under-insured segment presents an opportunity for Momento Seguros, which aims to offer flexible coverage and validation mechanisms to reduce costs. The company claims to save customers up to 50% when specific profile conditions are met.
Strategies for Expansion
In 2023, Momento Seguros plans to open new states, consolidate existing markets, and expand the range of vehicles covered. Rogel Vence anticipates launching commercial vehicle insurance (pickups, vans, work units) and entering the business fleet policy market without shifting to life or other insurance verticals.
Key Questions and Answers
- What is Momento Seguros? Momento Seguros is a Mexican insurtech founded by Lois Rogel Vence, offering digital vehicle, motorcycle, and now business fleet insurance through a mobile app.
- Why is the Series A funding important? This investment will accelerate Momento Seguros’ growth by focusing on technology advancements and geographical expansion.
- How does Momento Seguros differentiate itself? The company uses artificial intelligence to better segment risk and offers flexible, cost-effective coverage options for under-insured segments like motorcycles.
- What are Momento Seguros’ expansion plans? The company aims to open new markets, consolidate existing ones, and introduce commercial vehicle and fleet policies without venturing into other insurance verticals.
