Overview
Iglu is a digital insurance distribution and underwriting platform serving small and medium-sized enterprises (SMEs) and individual homeowners in Peru. Launched in February 2022 as an initiative of AVLA -- a Chilean financial group operating across Chile, Peru, Mexico, and Brazil -- Iglu targets the underserved SME segment in a market where fewer than one in five businesses carried any form of insurance at launch.
The platform uses Artificial Intelligence and Big Data to automate underwriting, enabling customers to obtain property insurance policies in under seven minutes from any device without paperwork. Coverage options include fire, earthquake, theft, and allied lines for businesses, and earthquake, fire, and theft for homeowners. Policies start from 12 Peruvian soles per month (approximately USD 3), with building coverage available up to USD 3 million.
As of April 2022, Iglu made its platform available to over 1,000 insurance brokers in Peru as a distribution channel. The company set a five-year target to capture 7% of the Peruvian property insurance market, projecting revenues of USD 40 million. AVLA, which generated USD 35 million in revenue in 2021, backs Iglu as its flagship digital insurance unit in the region.
Products & Services
Business Property Insurance (Negocio)
Fully digital property insurance for small and medium-sized businesses covering fire, allied lines of fire, earthquake, and theft. Policies are issued in under seven minutes from any device without paperwork. Coverage is fully customizable, allowing businesses to select specific risks, with pricing starting from 12 soles per month.
Key Features
- Automated policy issuance in under 7 minutes
- AI-driven underwriting and automatic subscription
- Fully digital, paperless process accessible from any device
- Customizable coverage selection by risk type
Target Users: SMEs, insurance brokers
Home Insurance (Hogar)
Personal property insurance covering earthquakes, fires, theft, and robbery for individual homeowners. Building coverage is available up to USD 3 million; contents coverage up to USD 300,000. The product targets Peru's low homeowner insurance penetration rate (approximately 3% of homes insured at launch).
Key Features
- Building coverage up to USD 3 million
- Contents coverage up to USD 300,000
- Digital purchase process without paperwork
- Starting from 12 soles per month
Target Users: Individual homeowners, consumers
Pet Insurance (Mascota)
An additional insurance product within the Iglu platform covering pets. Specific coverage details are limited in publicly available sources.
Key Features
- Available through the same digital platform
- Part of the broader product catalog expansion
Target Users: Individual consumers with pets
At a Glance
- Founded
- 2022
- Headquarters
- Lima, Peru
- Employees
- 11-50
- Funding
- PE-Backed
Category & Focus
- Category
- Distribution & Sales
- Subcategories
- Digital Storefront Quote-to-Bind Embedded Insurance
- Insurance Verticals
- P&C Personal P&C Commercial
- Target Customers
- Consumers, Agents/Agencies, Brokers
Customers
- Peru SME market (1.7+ million target businesses)
Links
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Last updated: 2026-06-23