Momento

In Momento we are going through a challenging regulatory process to become a fully-licensed insurance carrier. By doing so, we will be able to underwrite risk, set prices and, ultimately, become owners of the product.

Once approved, around summer 22, we will be in a great position to size the $13bn untapped opportunity of +30 Mn uninsured vehicles – just in Mexico! As we will be able to attack the main pain points in the market: i) antiquated underwriting models and ii) payment conditions only adapted for the affluent.

To succeed, we have assembled an elite team with both innovative and experienced profiles. We are three cofounders, two ex-McKinsey and one ex-P&G, and we managed to attract two heavyweights of the Mexican insurance industry: the previous CUO of Zurich Mexico and the previous CFO and VP of Finance of ING and AXA Mexico.

High-Level Overview

Momento is a full-stack digital auto insurer based in Mexico City, focused on serving the underserved vehicle owners in Latin America, particularly Mexico. It offers a fully digital platform that leverages artificial intelligence to provide personalized risk assessment and pricing, flexible coverage options, and monthly payment plans tailored to customers who traditionally face barriers to accessing insurance. By streamlining claims through AI and offering a user-friendly app, Momento addresses the lack of accessible, affordable, and flexible auto insurance in a market with over 30 million uninsured vehicles. The company has demonstrated strong growth, surpassing 100,000 active drivers and raising over $10 million in Series A funding to accelerate national expansion into underserved regions like Monterrey and Puebla[1][2][5].

Origin Story

Founded in 2021 by Lois Rogel (CEO), León Bartolomé, and Andrés Guerrero, Momento emerged from the founders’ recognition of inefficiencies and exclusion in Latin America's insurance market. The founding team includes former consultants and insurance industry veterans, including executives from Zurich Mexico and ING, who combined their expertise to build a customer-centric, technology-driven insurer. Early traction was marked by rapid licensing approval, a growing customer base, and partnerships with over 450 agents and brokers. The company’s mission to “make insurance radically better and more accessible” reflects its commitment to breaking legacy models and serving a historically excluded segment[2][3][5].

Core Differentiators

• Personalized Pricing: Uses AI-driven algorithms to tailor premiums based on individual risk profiles rather than broad categories.
• Flexible Coverage: Allows customers to add or remove coverage options dynamically, avoiding rigid package deals.
• Payment Accessibility: Supports monthly cash payments, catering to unbanked or underbanked customers common in Mexico.
• Digital-First Experience: Provides a seamless mobile app for real-time claims tracking, quotes, payments, and policy management.
• Efficient Claims Process: AI streamlines claims handling, reducing friction and improving customer satisfaction.
• Strong Industry Expertise: Founders and leadership bring deep insurance and consulting experience, supported by partnerships with major brokers and investors.
• Rapid Licensing and Growth: Achieved one of the fastest insurance license approvals in Mexico, enabling quick market entry and expansion[1][2][3][5].

Role in the Broader Tech Landscape

Momento rides the insurtech wave transforming Latin America’s insurance sector, where traditional models have been inefficient and exclusionary. The timing is critical as Latin America has a large uninsured vehicle population and growing digital adoption. Market forces such as increasing smartphone penetration, demand for financial inclusion, and regulatory openness to digital insurers favor Momento’s growth. The company’s AI-driven, customer-centric approach pushes the broader ecosystem toward innovation, forcing legacy insurers to rethink underwriting, pricing, and claims processes. Momento also contributes to financial inclusion by enabling insurance access for unbanked populations, a key social and economic challenge in the region[1][2][6].

Quick Take & Future Outlook

Momento is poised for significant national expansion across Mexico’s underserved regions, leveraging its recent $10.25 million Series A funding to scale operations and technology. Future trends shaping its journey include increased regulatory support for digital insurers, growing consumer demand for flexible and affordable insurance, and further integration of AI and data analytics in underwriting and claims. As Momento expands, it may influence the Latin American insurance market by setting new standards for accessibility, personalization, and digital customer experience. Its success could inspire similar models across other Latin American countries, amplifying its impact on the region’s insurtech ecosystem[2][5][6].