Open Insurances

What Open Insurances does

Open Insurances is a privately held insurance and financial services distributor headquartered in Fort Lauderdale, Florida, serving primarily non-US residents in Latin America and the Caribbean (with a parallel Cigna-mediated offering for US residents). The company operates as a multi-product broker rather than a risk underwriter, distributing four core product lines: travel assistance plans (multi-trip annual, long-stay, student, and individual trip variants with coverage from US$18,000 to US$1 million), international health insurance (via Cigna and other providers, including COVID-19 and maternity coverage), term life insurance issued through Puerto Rico-based Olé Life (reinsured by RGA and Partner Re, with 100% digital issuance and no medical exams, including return-of-premium options), and dollar-denominated investment accounts using BlackRock-designed portfolios advised by SEC-registered BCP Global.

The underlying technology stack is a thin digital distribution layer: a WordPress-based marketing site with online quoting and brochure downloads, a mobile application (iOS and Android) for investment portfolio monitoring, fund transfers, and withdrawals, and outbound integration to GlobalInvest.us for account opening. The company does not appear to own proprietary underwriting, claims, or actuarial infrastructure, instead positioning carrier-side partners (Olé Life, Cigna, Continental Assist) as the operational backend and leaning on its agent network as the primary service interface.

The business model is subscription/commission-based, with revenue generated from insurance premium commissions, investment advisory and management fees, and policy issuance. Pricing is quoted on request or via agents rather than published, with travel student plans priced roughly 50% below average university policies and individual coverage caps scaling into seven figures. Go-to-market spans a toll-free US phone line (and country-specific emergency numbers), website self-service quoting, a multi-country agent network, and a referral arrangement with Quorum Intercorp. The firm markets through a content and PR engine anchored by the founder-hosted 'Be Open' podcast and earned media coverage in US outlets such as Fox News, HuffPost, ABC, CBC, and NBC, targeting diaspora Latin Americans and international travelers through education-led top-of-funnel content.

Name

Open Insurances

Legal name

Open Insurances

Website

https://openinsurances.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Open Insurances is a Fort Lauderdale-based insurance and financial services broker serving Latin American and Caribbean residents with travel assistance, international health, life, and dollar-denominated investment products distributed via agents, phone, and digital channels.

Ownership category

akta.pro rank

Product category

Insurance Brokerage and Distribution

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Insurance Agents, Brokers & Service (6411), Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• Travel insurance plans
• International health insurance
• Term life insurance
• Insurance brokerage services
• Investment account management

Headquarters

HQ city

Fort Lauderdale

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D

Revenue model

1. Travel Assistance Plans: Revenue from selling travel assistance plans with various coverage levels (US$ 20k to US$ 1 million). Plans include multi-trip annual plans, long-stay plans, student plans, and individual trip plans. No deductible or co-insurance on plans.
2. Life Insurance: Term life insurance products backed by Olé Life (based in Puerto Rico, backed by RGA and Partner Re reinsurers). Features return of premium options at 15, 20, and 30-year terms. 100% digital issuance without medical exams.
3. International Health Insurance: International health insurance plans providing global coverage for medical treatment, hospitalization, maternity, and pre-existing conditions. Offered through Cigna for US residents and other providers for international clients.
4. Investment Account Management: Investment accounts with portfolios designed by BlackRock, advised by BCP Global (SEC-registered). Revenue generated through investment management and advisory fees. Accounts opened online in approximately 10-15 minutes.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Open Insurances is an insurance broker and distributor that sells travel assistance plans, international health insurance, term life insurance, and dollar-denominated investment accounts primarily to Latin American and Caribbean residents. The company aggregates products from providers including Olé Life (backed by RGA and Partner Re reinsurers), Cigna, Continental Assist, BlackRock, and BCP Global. Customers access these offerings through a website, phone-based sales, an international agent network, and distribution partnerships.

Product overview

Open Insurances is a multi-product insurance and financial services platform offering four core product lines: (1) Plan de Asistencia en Viajes with sub-plans including Multiviajes 60, Multiviajes 30, Plan de Larga Estadía, and Plan para Estudiantes; (2) Seguro de Salud Internacional with global medical coverage including COVID-19 protection; (3) Olé Life Seguro de Vida providing term life coverage with digital issuance; and (4) Cuenta de Inversión enabling dollar investments in BlackRock portfolios with BCP Global advisory. The company serves non-US residents in Latin America and the Caribbean through a network of over 100,000 service centers worldwide, with over 20 years of combined experience among its agents.

Differentiator

Problem solved

Functional benefit

Products and services

• Travel Assistance Plans (Plan de Asistencia en Viajes) Travel assistance plans offering medical coverage, 24/7 multilingual support, passport assistance, baggage compensation, and flight connection indemnification for international travelers, including annual multi-trip, long-stay, and student plan variants sold through Open Insurances' website, agent network, and Quorum Intercorp partnership.
• International Health Insurance (Seguro de Salud Internacional) International health insurance plans providing global access to top clinics and specialists with COVID-19 coverage, medicine delivery, 24/7 global protection, and access to US hospital networks for emergencies and elective surgeries, distributed through Cigna for US residents and other providers for international clients.
• Olé Life Term Life Insurance (Seguro de Vida) Term life insurance for non-US residents in Latin America and the Caribbean, issued by Olé Life (Puerto Rico) underwritten by RGA and Partner Re reinsurers, featuring 100% digital issuance without medical exams and optional return of premium at the end of 15, 20, or 30-year terms if the insured is alive at policy termination.
• Investment Account (Cuenta de Inversión) Investment accounts allowing non-US Latin American and Caribbean residents to invest dollars in globally diversified portfolios designed by BlackRock with SEC-registered advisory services from BCP Global, accessible via online onboarding through GlobalInvest.us and a mobile app for portfolio monitoring, portfolio changes, and fund transfers.

Quantifiable outcome

• Travelers can save up to $6,000 during their entire academic career with student plans
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and major.

• BlackRockcoreTechnology or IntegrationBlackRock designs investment portfolios for Open Insurances' investment accounts. BlackRock is the world's largest liquid asset manager, providing globally diversified portfolio construction for Latin American investors.
• BCP GlobalcoreTechnology or IntegrationBCP Global is a US company registered and regulated by the SEC (Securities Exchange Commission) that provides constant advisory services for investment portfolios. They administer the investment accounts.
• Olé LifecoreStrategic or Co-development PartnerInsurance company based in Puerto Rico, USA focused on long-term asset protection for individuals and businesses in Latin America and the Caribbean. Provides term life insurance products through Open Insurances. Backed by RGA and Partner Re reinsurers.
• CignacoreStrategic or Co-development PartnerCigna provides international health insurance plans for US residents purchasing through Open Insurances. Plans cover major medical expenses for US-based international health coverage.
• RGA (Reinsurance Group of America)majorTechnology or IntegrationOne of the world's top 10 reinsurers specializing in life and health insurance, headquartered in the United States. Provides reinsurance backing for Olé Life insurance products sold through Open Insurances.
• Partner RemajorTechnology or IntegrationOne of the world's top 10 reinsurers specializing in life and health insurance, headquartered in the United States. Provides reinsurance backing for Olé Life insurance products sold through Open Insurances.
• Continental AssistcoreStrategic or Co-development PartnerProvider of travel assistance plans for students and long-stay travelers. Backs the student plan and long-stay plan offerings with international medical assistance services.
• Quorum IntercorpmajorChannel Partner/ Reseller/ DistributorDistribution partner through which travel assistance plans are sold via quorumintercorp.com/qrm000785 platform.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Bupa Global: International private medical insurance provider serving individuals, students, and corporate clients worldwide. Comparable on international health insurance targeting globally mobile customers; much larger incumbent with proprietary underwriting.
• Allianz Care: International health, life, and travel insurance provider for individuals, families, and corporate clients globally. Comparable across multiple of Open Insurances' product lines, with a much larger geographic footprint and proprietary products.
• AXA Global Healthcare: International health and travel insurance arm of global insurer AXA, targeting expatriates and globally mobile customers. Comparable product set and cross-border customer focus, but with the scale and proprietary underwriting of a top-3 global insurer.
• MetLife International: Global life insurance carrier with strong LatAm and Caribbean operations offering term and savings-linked life products. Comparable life insurance distribution, particularly for non-US LatAm residents — direct competitor to the Olé Life-backed products Open Insurances distributes.
• Cigna Global Health: Global health services company offering international health insurance for individuals and expatriates. Comparable on the international health insurance product line — and notably also a current Open Insurances carrier partner — but operates as a direct carrier rather than niche distributor.
• Aon: Global insurance brokerage and advisory firm distributing insurance and risk management solutions across commercial and consumer lines. Comparable business model as a multi-product insurance intermediary, though Aon operates at vastly larger scale and primarily serves enterprise clients.

Direct peers

• World Nomads: Travel insurance provider for adventurous and independent international travelers, including student and long-stay plans. Closely comparable to Open Insurances' travel assistance and student plan products, with a stronger global consumer brand.
• International Medical Group (IMG): Provider of international travel medical insurance, health plans, and specialty coverage for travelers, students, and expatriates. Directly comparable product overlap with Open Insurances' travel, student, and international health offerings.
• GeoBlue: Specialist in international travel and health insurance for globally mobile individuals, including expatriates and students. Highly comparable to Open Insurances in targeting cross-border customers with multi-country health and travel coverage, though GeoBlue is more US-customer focused.

Emerging players

• SafetyWing: Digital-first insurtech offering travel medical insurance and global health coverage for remote workers, nomads, and small businesses. Comparable target customer (globally mobile consumers) with a more venture-backed, tech-led distribution model.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/openinsurances
• Facebookfacebook.com/openinsurances
• LinkedInlinkedin.com/company/openinsurances

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Open Insurances