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"We are able to simplify the underwriting process by automating manual processes, thereby increasing operational efficiency," said Valentina Sierra Toro of SURA.

"We have learned from our clients that responsible debt is crucial to enabling them to grow their operations consistently," said Esteban Velasco, cofounder of Sempli.

The technology tool allows policyholders to interface with company staff through video calls on WhatsApp to streamline their claims.

Sura ranked fourth, moving up from 8th in the 2017, while cement maker Cementos Argos rounded out the top five.

The parametric insurance policies cover higher-than-expected rain and drought during the periods of the year when coffee beans are young and most susceptible to weather shocks.

"We have taken the issue of cybersecurity very seriously," said Asobancaria President Santiago Castro.

This figure represents an 11% uptick in the number of new entrants to the system compared to the 999,000 people who secured financial products for the first time in 2016.

The bond aims to attract international finance to the region and "meet the growing demand of clients in local currencies," said IDB Invest.

Bladex reported profits of $16.6 million USD in the quarter — up from the first quarter, but a drop from the $17.5 million USD in the second quarter of 2017.

The demand shows "the confidence of the market in Itaú,” said Derek Sassoo of Banco Itaú Colombia.