Leveling the playing driving field

Auto insurance is an absolute in America — it’s required for the over 200M licensed drivers in this country. Accordingly, insurance companies and insurtechs aggressively compete for consumer attention using clever slogans, easy onboarding, bundled offerings and discounted fees. Despite drivers needing auto insurance and a frothy market of quality providers, not all drivers are offered transparent, unbiased, and affordable insurance options. Welcome to the world of non-standard auto insurance.

They are required to transact in-store or through brokers. And are subject to bias premiums based on immigration and socioeconomic status. This isn’t a small segment of the market — in 2021, the U.S. auto insurance industry was estimated to be worth ~$311 Billion, with most estimates placing the non-standard portion of the market at ~30-40% of that market (approaching $100Bn). And the nomenclature is equally as questionable and reinforcing by labeling 40% of the drivers as “non-standard” and labeling the standard market as “preferred.”

“My cousin with a stellar driving record was unable to access standard insurance and was forced to pay more because of her income and immigration status.”

By labeling the entire working class as high risk, industry leaders overcharge and thereby benefit from incredible margins and low loss ratios! And by doing so, they’ve isolated an entire community of drivers by giving them no choice.

Enter Sigo: a mobile-first auto insurance product focused on offering trustworthy, affordable insurance to the Hispanic, Latinx, and working class “non-standard” communities. After building and managing their own auto insurance agency in the heart of these spaces, Nestor and Julio created Sigo to be the trusted advisor to the community. As we continued to dive into the category, we were inspired by Nestor and Julio’s passion for serving their community and their focus on putting consumers first. We believe that consumer-obsessed brands can and will continue to support communities, and are thrilled to help Sigo do the same. We’re excited not only by Sigo’s transparency, safety, and authenticity, but also by their stellar product. A few highlights on what differentiates Sigo:

• Up to hundreds of dollars less per year to the driver by removing the unnecessary fees
• End-to-end digital support (no more brick and mortars which lowers the offering cost)
• Fully integrated Spanish language transaction process
• Stellar customer service
• Unbiased underwriting

Insurtech has seen massive growth over the past decade by going digital and adding telematics. Our excitement around Sigo is its audience-first brand that is democratizing access by bringing affordable, accessible, and trustworthy solutions to emerging-standard customers who need it most. At Listen, we believe in the power of brands to help create a more equitable and inclusive world, and we couldn’t be more excited to welcome Sigo to the Listen fam and help make sure all consumers have access to insurance that works for them (and doesn’t break the bank.)