Shopnet Broker plans to increase capital and incorporates Preventiva's Afin2 product

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BY : Diego GutiérrezJanuary Mon, 2017
Shopnet Broker is a Spanish company created in 2000 that offers technological services for the insurance sector. The company operates through two subsidiaries: Segurosbroker, to serve the end customer, and e-Correduría for the professional insurance market, as well as in Spain, Portugal and Mexico.
Incorporation of Preventia's Afin2

Segurosbroker has included Preventiva's AFIN2 product in its range of funeral insurance, allowing users of the brokerage to quote and contract any of the three types of insurance offered: mixed, level or natural premiums, with no surcharge for instalments and 100% online, thus extending the range of products it offers in the funeral insurance branch.

Creates SNTMex, to grow in Latin America

Shopnet broker has recently opened a new subsidiary in Mexico. , exporting to Mexico all its multisorting technology and its MedPro management application, as well as its administrative outsourcing and contact centre services.

To this end, it has signed agreements with large Mexican distribution companies, financial institutions, professional associations and major brokers.

In the words of the group's chairman, "the degree of maturity and robustness of our tools for the Spanish market, where we continue to grow and have recently closed major agreements, allowed us to tackle an international development strategy for which Mexico seemed to us to be the ideal market due to its size, legal similarities with ours and level of insurance".

Forecast of capital increase

Currently, as published in the BOE, Shopnet intends to carry out a capital increase of €4,807.00. At the moment the company has a capital of €224,200. The capital increase will be carried out by issuing 4,807 new registered shares, of the same class and series as the existing ones.

Shopnet broker shareholders include BBVA, Iberdrola and FCC.

Insurtech market in Spain

Investment in startups in the Insurtech sector is growing considerably, exceeding $1400M in venture capital investment in the first three quarters of 2016. In addition, traditional insurers are creating their own funds to invest in these startups.

In Spain, although we have not yet seen many operations in the sector, we have seen the appearance of new funds with the aim of investing in fintech, such as Fintech Ventures.

Shopnet Broker plans to increase capital and incorporates Preventiva's Afin2 product
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