MAPFRE AND WOOM partner to improve women’s wellbeing and reproductive health in Latin America
The InsurTech solution, developed in collaboration, uses Artificial Intelligence (AI) to support women throughout their reproductive life via a newly developed digital services platform. Global insurance company MAPFRE and start-up WOOM HEALTH join forces to improve women’s well-being and reproductive health. This alliance with the femtech company, which uses AI and machine learning techniques backed by medical professionals, seeks to foster, on behalf of women, a greater and better knowledge and understanding of the functioning and needs of their bodies in the different phases of their reproductive life.
WOOM HEALTH, a start-up created by women with solutions for women, offers, among other services, close monitoring of the menstrual cycle. This is very helpful for key moments such as conception (using AI to identify potential fertility problems) and other life processes such as menopause. The project helps the female sector of the population better understand their bodies, using an accurate calendar that learns from each user’s cycle and predicts their next period and fertility stage (including the day of ovulation). In addition, the application uses algorithms that give access to relevant and personalized content (individualized articles, tips and videos) and allows each person to share their experiences, tips and questions about these and other topics, such as physical activity or mental health.
The collaboration between WOOM HEALTH and MAPFRE came about through insur_space, MAPFRE’s fast-track-to-market program for start-ups. WOOM was selected from more than 200 initial start-ups. Thanks to this agreement, WOOM’s services will be offered, in a personalized manner via a new digital services platform, to MAPFRE clients in different geographic areas, starting with Mexico and the Dominican Republic. With this, the insurance company “wants to serve its purpose of supporting people in taking on their personal challenges and, at the same time, contribute to breaking taboos about women’s health and well-being and make access to these kinds of services universal,” says Irene Garca, Assistant General Director of Business Development and Marketing at MAPFRE Asistencia. WOOM boasts being the only company that collects and uses more than 100 male and female fertility parameters and metrics to calculate menstruation phases and fertility windows with maximum precision. In addition, it is the first women’s health application in Spanish, with a great potential for growth. Laurence Fontinoy and Clelia Morales, the startup’s founders and CEOs, point out that “as entrepreneurs, we think it is very important to research the players you enter into partnerships with, as it will directly influence the company’s future. Growth, agility and innovation can be crucial for a start-up business, so we are very happy with our partnership with MAPFRE, which allows us to continue to grow our B2B model, gain scalability and bring value to your clients with a different product.”
WOOM is a technology company dedicated to women’s health. WOOM supports women in all stages of their reproductive life; from contraception or trying to get pregnant, to menopause. With its first fertility product, WOOM uses biometrics, cycle and lifestyle parameters in order to predict the chances of pregnancy and provide women with personalized content that increases their knowledge of the process. WOOM also has a Community of women who support and advise each other — with 1.3 million registered users, the app has helped more than 100,000 women become pregnant. In Spain 5 percent of the women giving birth already use WOOM.
Since then, WOOM has established a strong position in the world with a presence in nine countries: Spain, Mexico, Colombia, Peru, Chile, Argentina, the USA, the UK and Singapore.
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MAPFRE is an international insurance company that protects what matters most for 27 million clients worldwide. It is one of the main operators in the Spanish market and the largest Spanish-owned insurance company in the world. MAPFRE is the third largest insurance group in Latin America and ranks sixth in Europe in Non-Life premium volumes. With more than 34,000 employees, in 2020 MAPFRE generatedrevenue of almost 25.5 billion euros and net operating profits of more than 650 million euros. In 2018, the company presented MAPFRE Open Innovation, the company’s strategic commitment to drive client-centric transformation through associations and by using emerging technologies that have a positive impact on business and society. Since its implementation in 2018, MAPFRE’s insur_space initiative has grown to become a global fast-track-to-market program for start-ups. For more information, visit https://www.mapfre.com/en/ and https://www.insur-space.com/
Simon Hayes, Managing Director
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