Miami-based start-up Olé Life is aiming to accelerate the uptake of life insurance in Latin America with a full-stack digital offering that uses artificial intelligence and digital underwriting to smooth the process for customers. Latin America has one of the lowest insurance penetration rates in the world at just 1.3%, with 15% of those who can afford cover having a policy, compared with 52% in the US. Olé Life said its digital underwriting technology allows customers to apply for policies of up to $1m without the need for a medical exam. The platform also offers lifestyle-related ‘add-ons’.
Olé Life is a full-stack digital life insurance provider.
Olé Life is run by co-founder and CEO Michael Carricarte, who has previously founded three other insurance start-ups.
