Sep 01, 2023

“Tropicalizing” Regional Policies – One pooled plan in Central America and the Dominican Republic

Recognized as Guatemala's largest insurance company, Seguros El Roble offers poolable Group Life and Medical plans across Central America and the Dominican Republic. El Roble works with Multinational companies and their brokers to find tailor-made solutions for their employee benefit offerings in Guatemala only or for the entire Central American presence. These “tropicalized” solutions allow companies to offer different benefits in the different countries in the region, administered locally, but insured and pooled centrally.

We are proud to call this esteemed company one of the newest Members of the Insurope Network!

Market Landscape

The insurance industry in Guatemala has entered a phase of growth, and is poised to continue to grow through 2025, as projected by Global Data. Notably, the life insurance sector contributes approximately 20% to the industry. Even amidst the challenges posed by the COVID-19 crisis, Guatemala's insurance sector emerged as a commendable model in Latin America, as acknowledged by AM Best. A key trend aligning with the global landscape involves the development of digital solutions by many Guatemalan insurers to cater to their clientele in the context of remote work and client demands for more digital offerings.

The Strength of El Roble

Seguros El Roble stands synonymous with its name, which translates to "The Oak." This symbolism is apt, as the company's strength resonates through its strong commitment to customers, products, services, and financial standing. Established in 1973, Seguros El Roble transitioned into a Guatemalan enterprise in the early 1990s. In 2008, BiCapital Corporation assumed full ownership, further solidifying its position and strength. With an impressive A- rating from AM Best, Seguros El Roble boasts an enduring reputation buoyed by its team of seasoned professionals well-versed in the intricacies of insurance.

Driving Innovation

The organization places innovative services at its core, offering an array of conveniences such as telemedicine, consultations for medical forms, and streamlined claims processing. Notably, the company has also recently introduced an innovative Artificial Intelligence (AI) solution for its clientele. Dubbed ARI, this AI solution facilitates diverse client needs through conversational channels. Its functionalities encompass policy consultations and payments, scheduling medical appointments, claims processing, and even road assistance.

Yet, the extent of Seguros El Roble's offerings does not end there. The company boasts Guatemala's most extensive medical network, with a significant 90% of claims being directly settled with medical service providers. Furthermore, clients are granted access to user-friendly apps for medical service consultations, scheduling, and addressing general inquiries. Among these, the groundbreaking Roble Red mobile application stands out, simplifying the utilization of Medical Expense Insurance for clients, regardless of their location. Watch the Roble Red video here.

Best regards,

Morten Unneberg
Chief Executive Officer
Insurope SC/CV
Insurope Services, Inc.