Nizel Pradhan
MLTPLY, a company that helps insurtech entrepreneurs quickly bring their ideas to market, today announced the formation and launch of Proxima, an insurtech startup that offers technology and talent tailored for the insurance industry.
Built by proven insurtech leaders known for innovation and superior service, Proxima offers insurance companies both state-of-the-art software to develop and support highly complex insurtech projects and nearshore operations hubs staffed with highly qualified talent to provide comprehensive back office support. Through operations hubs located in Santa Domingo, Dominican Republic and Quito, Ecuador, Proxima helps insurers staff and expand their IT, customer service, sales, underwriting and claims capabilities.
Proxima’s technology and people bring insurance industry stakeholders closer together. The company is already generating value for its customers in Latin America and in the U.S. by providing staff augmentation resources in underwriting and technology verticals. Proxima will introduce the following solutions and benefits to customers beginning in early 2023:
- Claims operations self-service tools supported by a highly trained professional staff.
- Data collection and analysis to strengthen underwriting performance and improve quote efficiency.
- Efficient, cost-effective sales support to accelerate growth.
- A full team of technologists available to develop, refine, and accelerate technology delivery.
Camilo Cruz, Founder & CEO of Proxima, said, “When I set out to build Unit, one of the first full-stack insurtechs in Latin America, we had to build comprehensive solutions tailored for the insurance industry because they just didn’t exist. On the one hand, you have many technology vendors with no insurance experience, and on the other, you have insurance specialists with limited breadth. In customer service and operations, traditional insurers don’t typically execute as quickly as insurtechs, but insurtech startups may not be able to absorb the demand of traditional insurers.”
“Tackling this problem requires modernizing insurance by giving it a complete overhaul – from buying and selling to customer service and process automation. To accomplish this goal, Proxima combines software development and staff building, prioritizing agility, transparency, and creativity in supporting sophisticated, end-to-end insurance operations.”
For insurance carriers, Proxima is a proven, innovative partner that can fill and accelerate key functions to deliver the value of insurtech without the risk and expense of a startup. For growing insurtech ventures, Proxima serves to deploy a cost-effective suite of services needed to extend capacity, add value and expertise, and operate efficiently and compliantly.
Gloria Guntinas, CEO of MLTPLY, commented, “Our investment in Proxima fully aligns with our strategy to empower talented insurtech entrepreneurs to bring their ideas to market quickly and reduce the cost of sales and service operations. This partnership also allows MLTPLY to expand our footprint into Latin America where extraordinary talent is already yielding impressive results for the insurance sector. We’re excited to be working with Camilo, a proven insurtech leader and results-driven operations executive, and his outstanding team.”
MLTPLY helps insurtech entrepreneurs bring their ideas to market fast. Offering capital, a fronting carrier and reinsurer, and operational infrastructure, MLTPLY cuts through the red tape to get insurtech startups off the ground up to 18 months sooner than they would on their own. Learn more at MLTPLY.io.
