Insurama is an MGA focused on insurance for home technology, family assets and related physical goods, distributing both its own products and third-party offerings end-to-end online. Founded in late 2018 in Spain, the company operates in Spain, Portugal, Mexico, Chile and Peru and sells more than 25,000 policies monthly in Spain and Portugal. Insurama reports a customer/policy portfolio of roughly 210,000 and a commercial network of over 250 points in Iberia and Latin America. Financially the company finished 2023 with €10 million in revenue, positive EBITDA, and had more than doubled revenue for the second consecutive year. Insurama plans to accelerate international expansion (notably Colombia in Q4 and broader Central America) and to increase investment in technology, claims management and process automation. It also intends to develop new products and deepen strategic partnerships with retailers and channel partners across its markets. Insurama operates an end-to-end digital distribution platform for insurance, using technology to tailor products and provide an omnichannel customer experience. Its verticals include mobile phone, portable device, scooter, multi-device, extended warranty and rental insurance, and it planned a pet insurance launch in December. The company reports more than 30,000 customers, a network of 1,400 stores and 200 distributors across Spain. Insurama has pursued B2B2C lines and expanded its product catalog while being selected for the Mobile World Congress and recognised as a Best Place to Work in 2020. Financially, the company reported EBITDA growth of 47% and revenue growth of 789% versus 2019. Insurama intends to consolidate in Southern Europe and scale internationally with a focus on LATAM, targeting 500,000 customers and operations in 10 LATAM countries by the end of 2025.

Total raised

$15M

Funding rounds

2

Latest round

Series A

Latest activity

May 2024