Sigo Seguros is enabling mobility for immigrants and the working class. We provide affordable access to auto insurance via our mobile-first, bilingual platform.
🩳 tldr
Revamped investor update, plus a lot of moves. Here are the highlights:
~$3m committed in Debt and Equity for Series A extension,
reach out if interested in participating.
Appointed Guy Carpenter as our new Reinsurance Broker 💪
Attending AIR conference in Florida to meet with reinsurers next week.
Launched Contigo Collective to develop new direct marketing initiatives.
Working with Lightbulb on an audit of our paid media spend.
Launched development of our AI Underwriting Assistant Agent.
How you can help 👇
Hiring Insurance Product Manager (must have auto insurance product pricing or actuarial experience) — please send recommendations my way!
🧮 the numbers
>20% growth in policies outstanding since January 1
👀 gross written premiums and conversion rates by geography
We are able to swiftly adjust our targeting through our direct platform in a way none of our competitors can. We went from converting 23.5% in Houston to less than 7% of quotes in under a year as we transitioned away from that risk while keeping high conversion rates in our target geographies (see Dallas and San Antonio).
✈ upcoming travel - let’s meet up!
Palm Beach Florida for AIR Reinsurance Conference: 5/4 to 5/6
New York for Insurance Capital Summit: 5/8
Washington DC and Alexandria for Flintlock Founder Event: 5/12 to 5/16
[TENTATIVE] San Francisco for Fundraising: 5/19 to 5/21
[TENTATIVE] Chicago for May Board Meeting: 5/21 to 5/23
[TENTATIVE] Dallas for Old American Golf Classic: 6/10 to 6/13
🏆 shoutout
Engineering revamped our onboarding and reduced the instance of purchase blocking errors by over 60% 📉
Also thank you to Rafael for the introduction to Guy Carpenter and to Rick for the intro to Mike Rome/Lightbulb 🤝
