(Mexico City) — Mexican startup Super, which offers coverage for earthquake property damages, plans to expand into hurricane insurance and possibly raise a fresh funding round next year, according to chief executive officer and founder Sebastian Villarreal.
The company, which launched in 2019, offers simple and affordable insurance options to clients by eliminating the middlemen. Super uses technology to determine claims and makes direct payments to clients in a matter of days.
Its quake insurance, which was tested during a 7.0 magnitude tremor on Sept. 7, is based on acceleration models developed by external seismic engineering firm ERN. The model determines the potential damage that a quake initiated thousands of miles away can cause on a client’s home, whether it is a house or a high rise condo building.
Super is now turning its attention to providing support for damage caused by ever-more frequent hurricanes, especially in the Mexican states of Quintana Roo, Campeche, Veracruz, Jalisco and the Baja Peninsula.