Founded
2019
Headquarters
Mexico City, Mexico.
Industry
Fintech
Subsectors
Crabi is at the forefront of transforming Mexico’s auto insurance industry through a fully digital embedded insurance model that provides a superior experience to both partners and end customers.
The challenge
In Mexico, over 50 million vehicles are on the road, but only about 30% are insured, far below the Latin American average. The auto insurance industry in Mexico represents a $25 billion market that has remained unchanged for over 40 years. Existing products are rigid and involve several layers of intermediaries, complicating the process and increasing costs. Coverage options are often unclear, and the overall customer experience is notoriously poor, leaving drivers frustrated and underserved. Despite a legal mandate for insurance, enforcement is weak, and legacy players dominate the market, leading to outdated processes and a lack of innovation. This has created a massive opportunity to disrupt the status quo and provide drivers with innovative, transparent, and accessible solutions tailored to their needs.
The solution
Crabi is revolutionizing auto insurance in Mexico by offering a completely digital, customer-focused platform. As the first insurtech startup in nearly three decades to obtain a full-stack auto insurance license in Mexico, Crabi manages every step—from policy creation to underwriting and claims—providing unmatched speed and transparency. The company is building the technological infrastructure to significantly disrupt the entire logic, from marketing and customer acquisition to the underwriting process and the body shops that support claims. This is all built around cutting-edge tech and GenAI, which integrates the entire insurance process. Additionally, as an embedded insurance player, Crabi is utilizing its tech platform to innovate a highly efficient go-to-market and customer acquisition strategy through car financing companies and brokers, the traditional distributors in the industry.
The founders
Crabi is led by Daniel Bernardez (CEO) and Ignacio Martinez (COO), two visionary leaders dedicated to transforming auto insurance through technology. Daniel Bernardez, a seasoned technology executive, brings deep expertise in product innovation and strategic growth. Ignacio Martinez, an accomplished business leader, complements Daniel with his extensive experience in process optimization and elevating customer experiences. Together, their leadership has propelled Crabi to become a trusted partner for drivers across Mexico, leveraging advanced analytics and customer-centric strategies to redefine auto insurance possibilities.
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