Image credits: Adrianna Geo
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News Article

Funeral Planning Just A Swipe Away

By Jorge Ramos Zwanziger | Tue, 02/02/2021 - 17:28

A Mexican entrepreneur has taken advantage of technology and has introduced the first specialized app for funeral services. Julio César Rojas, CEO and Founder, created Khibuq last year, which is an app that works as an intermediary between users looking for different funeral products and services and different funeral homes in Mexico, reports Expansión Política. The app allows users to access information concerning the location and state of the deceased. So far, there are 56 funeral homes registered in the app which operates not only in Mexico City but in other states such as Yucatan, Jalisco, Zacatecas and the State of Mexico.

Rojas explained to Forbes Mexico that when it comes to funeral services, prices tend to vary. While 60 percent of funeral homes in Mexico operate illegally, Khubiq overcomes this obstacle, he argues, by signing service contracts from legally-established funeral homes, which allows for more stable pricing. The app, which is available both for Android and iOS, allows people to compare funeral homes prices, select inclusive plans and contract services, pay with credit or debit cards and even make bank transfers. “With this app, services are cheaper than if you were to visit a funeral home due to the business model that we use. We charge [funeral homes] 15 percent per purchased service and from that 15 percent we take 5 percent to pay back the user,” explained Rojas to Forbes Mexico in an interview.

Rojas wanted to solve the lack of funeral planning in Mexico, by offering through the app a membership with access to future funeral services. Rojas explained that only seven percent of the economically active population have hired a funeral insurance plan, reports Expansión Política. The percentage of Mexicans with funeral insurance is around 1.5 percent, out of 130 million Mexicans. In regards to wills, it is around seven percent and life insurance is about 12 percent, Óscar Chavez, Director of Planning and New Businesses at Grupo Gayosso told Expansión Política. He argues that the challenge is educating people in Mexico about the importance of funeral insurance, opposed to a country like Spain, where the percentage of people with funeral insurance is around 60.

The data used in this article was sourced from:  
El Economista, Expansión Política
Photo by:   Adrianna Geo, Unsplash
Jorge Ramos Zwanziger Jorge Ramos Zwanziger Junior Journalist and Industry Analyst