These are the three new challenges of Santalucía Impulsa Startups 2024 for the insurtech ecosystem

Santalucía Impulsa, the Santalucía Group's Open Entrepreneurship and Innovation ecosystem, launches its 7th edition of InsurChallenges, the project acceleration program aimed at entrepreneurs and startups for the development of innovative business solutions in the insurance industry. Since its creation in 2016, Santalucía Impulsa has “accelerated” 31 startups that have obtained funding of 24.3 million euros. Now, with this 2024/2025 edition, new entrepreneurs will have the opportunity to test their business models in the different companies of the Santalucía Group.

Santalucía Impulses Startups: the InsurChallenges of 2024

This year's call is aimed at the search for new startups in the insurtech ecosystem in three major areas:

• Sustainable Development Goals (SDGs) and its impact on society (sustainability, well-being and financial education).
• Digitalization and Future 4.0 (digitalization, automation, customer experience and new technologies).
• On Demand Customers and Services (family, silver economy, new generations or groups).

In the words of Ángel Uzquiza, Corporate Director of Innovation, the program is looking for”business ideas that respond to the real problems that individuals and companies face on a daily basis to improve our relationship with current and future clients of the different businesses of the Santalucía Group: insurance, healthcare, residential and funeral businesses. Our focus is focused on process improvement, customer experience and the search for new products and technologies with an impact on society” .Examples of this are some of the last startups accelerated by Santalucía Impulsa. For example, Durcal, which has developed a GPS watch that has a built-in fall detector and a 24-hour help button. O Fynce, an asset manager to help users to invest in a simple way. But let's see in detail what are the challenges posed by InsurChallenges 2024.

SDG Challenge and Impact on Society

This challenge consists of solving the problems identified by the Santalucía Group focusing on the field of sustainability, health, well-being and financial education.What they are looking for are innovative and sustainable solutions to address urgent challenges of the world, aligned with the United Nations Sustainable Development Goals. To this end, Grupo Santalucía targets startups with scalable solutions that address challenges in the areas mentioned. | More information about the SDG challenge and Impact on society

Digitalization and Future 4.0 Challenge

To respond to this challenge, we need solutions and new technologies that optimize processes to improve productivity and efficiency of the different business units. The objective is to find startups with innovative and scalable solutions that address challenges related to operational transformation and technologies in the context of the 4th Industrial Revolution. These new business models have to use technologies such as Artificial Intelligence or Machine Learning to generate a positive impact in society and in the economic model.| More information about the Digitalization and Future 4.0 challenge

On Demand Customers and Services Challenge

The last challenge is to contribute valuable products or services that accompany insurance and that facilitate lifestyle and/or well-being of families, new generations, seniors and other groups. To achieve this, we are looking for startups that provide solutions with clear added value, improving the awareness, tangibility and enjoyment of their products or services. In this sense, aspects such as the product life cycle, the customer's profile, their experience or the sales cycle must be considered. | More information about the On Demand Customers and Services challenge

What's new at the 7th edition of Santalucía Impulsa Startups

As we mentioned before, the projects submitted in this call will have the possibility to test your solutions within different business units which make up the Santalucía Group. In other words, the company will work hand in hand with other companies and departments so that startups can verify the effectiveness of their projects. ”This year, the different business units, companies and departments of the Group will be actively involved in the collaboration and development of projects”, adds Uzquiza. In addition, and as a novelty, entrepreneurs and emerging companies will have access to different services to respond to the challenges of InsurChallenges 2024. This will be possible thanks to the program collaboration with Shuttle, The Referent, Microsoft And Insurtech Community Hub, among others.¡Register here for the InsurChallenges 2024/2025 of Santalucía Impulsa Startups!