Scout InsurTech Interview with Blitz

Blitz is an automated commission management platform. They seek to streamline and digitize the commission process, enabling businesses to save time and resources while ensuring accuracy and fairness. Chris Luiz sat with CEO, Sergio Zuniga, to learn more about how Blitz is impacting the industry.

Who are Blitz’s clients?

Fifty percent of our clients are insurance carriers, primarily in Latin America, including AXA, Prudential Mexico and Skandia in Colombia. We also serve Chubb insurance in seven countries, with our main point of contact in Miami, and we work with Combined Insurance in Canada. On the retail side, we work with brands like Adidas, Nike and Tommy Hilfiger in Mexico, with plans to expand across Latin America and eventually enter the U.S. market.

What does your product do?

Blitz automates variable compensation processes. We handle everything from integrating data sources to creating a flexible platform for administrators and automating the payment process. In Latin America, we’ve expanded into fintech, allowing us to disburse payments directly and provide tools for recipients to manage their commissions or variable compensation effectively.

How much capital have you raised?

None. We’ve been privately funded by our parent company.

Was the company born from within or outside of the industry?

The company was born outside of the industry, originating from an IT consulting firm. We initially developed the product to meet a specific client need and later identified a market opportunity, which led to forming an independent company two years ago.

What growth metrics have you accomplished over the last 12 months?

We’ve achieved 50 percent year-over-year growth.

Within your domain, what is the current challenge the industry is facing?

While AI is being leveraged to acquire clients and reduce fraud, little attention is paid to supporting the sales force. Blitz focuses on automating processes and providing transparency and data access for agents and brokers, ensuring they clearly understand their variable compensation. Few companies address this area, making it a significant gap in the industry.

How does Blitz take a unique approach to providing value?

Blitz offers complete transparency for both administrators and agents. Agents often lack access to raw policy data, but Blitz makes this data available and provides tools to manage commissions. For example, agents can defer portions of their commissions for tax purposes or have payments disbursed to multiple accounts or digital debit cards. These features empower agents without requiring involvement from carriers, simplifying the process and offering flexibility.

What inspired the team to start the company?

The idea emerged from a client project at our parent company. Initially focused on building a variable compensation solution for a CRM platform, we realized the broader market potential. As one of the few cloud-native solutions in this space, we offer significant technological and cost advantages over older, on-premise competitors.