Sigo Seguros is enabling mobility for immigrants and the working class. We provide affordable access to auto insurance and innovative payments solutions via our mobile-first, bilingual platform.
🩳 tldr
Recruited a few rockstars 🤘
Dan Monahan (ex-Amazon) joins as VP of Technology.
Gabriela Gil (ex-Metromile) joins as VP of Marketing.
Dean Kozlowski (20 years in non-standard auto) joins as VP of Insurance Product.
Financing 💰
$2.6m first close for Series A extension; second close set for Sep 15.
Continuing to explore leverage and other debt financing opportunities.
MGA Profitability focus 🪛
Prices increased >20%, tightened underwriting, and taking a more aggressive claims handling approach.
Prioritizing underwriting profitability after 1H expansion pushed above target loss ratio range.
Focus is on securing reinsurance and fronting commitments for 2026.
Sigo Seguros Platform Expansion ✨
Relaunched Sigo Insurance Services; first policy sold 🚀
Secured appointments with Patriot MGA and AssuranceAmerica;
Began outreach to +70 carriers/MGAs > 17 appointment packages underway > target 5-10 appointments.
Launched Contigo Premium Finance to monetize the payment flexibility Sigo MGA customers love for our insurance brokerage customers.
Partnering with Kira to provide remittances and accept cash payments.
🫵 Value Creation Opportunities
Intros to Premium Finance professionals and
specifically intros to people at AIS and COST Financial.
Intros to Auto insurance carriers or MGAs that may want to appoint Sigo Insurance Services.
Reach out if you or any accredited investors in your network are interested in participating in the financing (convertible note 2x liq. pref., 25% discount, Series A Valuation Cap)
🧮 the numbers
Restrictions on growth implemented in August to focus on underwriting profitability resulted in decreased sales.
Policies in Force are up 21.5% YTD, and has driven near-term loss ratio pressure as new business typically runs hotter than renewals. Our rate and underwriting changes are designed to restore underwriting profitability, albeit at the cost of moderating growth from here.
We expect CAC to be well below our target range in the medium term. While we currently do not observe meaningful marketing leverage with our performance marketing spend, we believe the top of the funnel remains strong which has informed our recent platform expansion.
🥅 goals for the rest of 2025
ramp Sigo Brokerage sales to at least 250 policies per month.
secure >5 carrier/MGA partnerships for Sigo Brokerage.
improve ultimate loss ratio projections for Sigo MGA.
licensing/compliance Contigo Premium Finance.
secure reinsurance and fronting commitments.
onboarding revamp for expanded platform.
proof of concept on remittances and cash.
additional funding via debt/equity.
