Why we invested in iSalud.com
By Carlos Vázquez, Investment Manager at Ad4Ventures Spain (Mediaset Group).
Ad4Ventures is the venture capital arm of Mediaset Group (leading free to air television broadcaster in Spain and Italy), focused on television media for equity deals. Ad4ventures has become the largest media for equity player in Southern Europe.
What is it?
Health insurance online comparator and broker. Many online comparators targeted successfully telco’s services, car insurance and utilities companies among others, but not health insurance, mainly due to idiosyncratic complexity for selling this products.
Isalud.com, acknowledging this fact, leveraged its operations as an outstanding broker/ consultant team that acquires customers for their partners and assists users along the process.
Why?
· High LTV as a result of being a broker rather than a lead generator as most competitors leading to setup fees and brokerage fee, at the signing of the policy, but also renewal commission over the average 7 year life time of the customers
· High conversion rates from lead to customer as an indication that the model works
· TV Fit: As a business half way between insurtech and e-health credibility becomes cornerstone. High LTV and the conversion efficiency makes TV a good mean to increase market penetration, reaching out people who may not be online early adopters, and to increase conversion rates further as a result of the trust generated by the TV exposure
· And of course, THE TEAM, experienced, focused, analytical and with the intention of building a sustainable and profitable business, simply brilliant!
The Exit:
iSalud was sold to CNP Partners in 2018, resulting in a very attractive return for the investors
