IMeureka was founded by Rafael Zurera and me over five years ago. Drawing on our experience of approximately 10 years in major international insurance brokerage firms, we identified a significant opportunity. After months of careful consideration, we decided to embark on this venture—a journey that, truthfully, has been well worth it.

Essentially, we observed that large brokers lacked technological tools to efficiently mediate corporate insurance transactions or leverage the data generated during each transaction. Unsurprisingly, such tools were also absent in small and medium-sized brokers. In Spain alone, there are 5,000 insurance brokers, presenting a vast opportunity to develop technology that could assist brokers in negotiating these types of policies and enable them to harness the power of data.

In addition to this technological development, we introduced the concept of a marketplace for corporate insurance—a highly disruptive innovation on a global scale. Our marketplace democratizes access to underwriting capabilities and advanced technology for small and medium-sized brokers. The data generated in every transaction is transformed into value through our AI. This represents a significant business opportunity in a massive European market where data is the key asset.

Luxembourg is the second-largest financial hub globally and is establishing itself as a leading fintech hub in Europe. It is becoming the gateway for any fintech looking to scale.

In the insurance sector, there is a particularly interesting European regulation: the freedom to provide services. This regulation allows any European insurance company to operate in any member state, provided the necessary bureaucratic procedures are completed.

This represents a significant opportunity, as any insurance company or MGA could operate in Spain (or any other European country) by accessing our marketplace and finding the type of business that interests them among hundreds of brokers. This approach democratizes the insurance market, fundamentally changing the rules of the game by enabling brokers and insurance companies to “meet” in the most cost-effective and efficient way possible.

For us, this is an entirely new territory, and at the beginning, it is always challenging to identify the right people who can truly help you achieve your goals. While being a small market comes with significant advantages, it also has its drawbacks.

That said, our value proposition is quite unique, and in my brief experience in Luxembourg, I have noticed that our model generates considerable interest among professionals familiar with the industry. I believe that for IMeureka, this represents a significant opportunity to establish a strong position in this market—not only from a business perspective but also in terms of access to capital and leveraging the country as a corporate hub.

The work carried out by the SFF and the Chamber of Commerce is essential for companies like ours. It significantly streamlines communication and facilitates numerous events where you can meet people and identify opportunities. Promoting cross-border relations between Spain and Luxembourg presents a mutually beneficial opportunity that, in our case, supports internationalization and networking efforts.

Additionally, in the insurance sector, much of the risk from Latin America is reinsured through Spain and Europe. In this regard, both the Chamber of Commerce and the SFF can serve as vital connectors, further enhancing collaboration and creating synergies.