This is a profile image of Salomon Spak

Salomon Spak


Leads the firm’s insurance work in South America, advising clients on digital, analytical, and operating model transformations

Salomon is a partner in McKinsey's Lima office and leads the firm’s insurance sector in South America. Since joining the firm in 2010, he has primarily served insurers in Latin America, North America, and Africa, covering topics across the value chain, including strategy, digital transformation, advanced analytics, organization, and efficiency. Solomon has nearly 20 years of experience in the industry.

More broadly, he works with financial institutions to build digital and analytics capabilities to deliver substantial performance improvements.

Some of his recent experiences include the following:

  • designing and implementing an agility-at-scale model at a multiline and multichannel insurer in Latin America
  • developing the strategy and launching the implementation of a technology transformation to support an insurer’s digital ambitions
  • developing a digital strategy for an insurance group in Latin America; evaluating both the direct opportunity and the digitalization of its main business
  • implementing advanced-analytics models to optimize pricing strategy in auto insurance, achieving three-point improvements in the combined index
  • designing the pricing strategy for several Latin American banks
  • leading the creation of a fraud management area and model, designing new processes, and developing advanced-analytics models, achieving a ten-fold increase in fraud savings
  • leading several growth strategy efforts for the banking insurance business for banks in Latin America
  • defining a strategic plan with clear growth initiatives for a large multiline insurance company, focusing on its auto insurance business unit, which included an optimal distribution model, channel strategy, and more
  • transforming the collections management for a financial institution in Latin America, optimizing operational performance, redesigning the customer experience, and redefining the required technological infrastructure

Published Work

Exploring ecosystem maturity in Latin American insurance,” McKinsey & Company, May 2022

Pulso del Consumidor Colombiano de Seguros de Vida 2022 [Pulse of the Colombian life insurance consumer 2022], ”LIMRA, September 2022

Pulso del Consumidor Chileno de Seguros de Vida 2022 [Pulse of the Chilean life insurance consumer 2022],” LIMRA, September 2022

Pulso del Consumidor Peruano de Seguros de Vida 2022 [Pulse of the Peruvian life insurance consumer 2022],” LIMRA, September 2022

Pulso del Consumidor Mexicano de Seguros de Vida 2022 [Pulse of the Mexican life insurance consumer 2022],” LIMRA September 2022

Past Experience

RIMAC Insurance and Reinsurance
Sales manager, retail insurance


Stephen M. Ross School of Business

University of Lima
BS, industrial engineering