Ep. 232: Nestor Solari: Insurance Opportunities in Underserved Communities 

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Nestor Solari is the Co-Founder and CEO of Sigo Seguros, an inclusive car insurance provider that primarily serves immigrants and other working-class populations who can’t purchase traditional auto insurance. The company seeks to extend a helping hand to those whose financial metrics aren’t seen as ideal by most insurance industries. Nestor believes the market for immigrants and other minorities locked out of traditional insurance will one day be the dominant market, and Sigo Seguros is simply leading the way. Nestor earned a degree in Finance from Penn State University, an MA in International Studies from the Lauder Institute at the University of Pennsylvania, and obtained his MBA from The Wharton School at the University of Pennsylvania.

Nestor joins us to describe Sigo Seguros's vision to serve the underserved in the insurance industry. He shares the ideas that led to where Sigo Seguros is today and explains how his career in finance allowed him to have a better perspective when he started an insurance company. He discusses the challenges of being a company that serves a relatively small market. Nestor also shares what we can look forward to from Sigo Seguros in the near future.

"There's a lot of opportunity to be unlocked in building a community around insurance." - Nestor Solari

Today on Spot On Insurance:

  • Nestor's life in Uruguay and his aspirations as a young man
  • How Nestor's career in finance got started
  • The turning point in Nestor's life that made him come back to America
  • How Nestor found a career in insurance
  • Why Sigo Seguros primarily works with financial services serving underserved populations
  • The main reason Nestor founded Sigo Seguros
  • Why they don't use traditional financial metrics to underwrite insurance
  • Why offering products and services for everybody does not truly serve everyone
  • The challenges of building inclusive products
  • The story behind the name of their company
  • What it's like starting a company as someone outside of the industry
  • How supportive Nestor's family was when he started small
  • Nestor's relationship with Bryan Falchuk
  • What we can expect from Nestor and Sigo Seguros

Key Takeaways:

  • In insurance, traditionally, the less you think about it the better. The fewer touchpoints you have with your insurance company, the better.

Resources Mentioned:

Connect with Nestor Solari:

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

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