Prudential partners with Insurtech 123Seguro to serve customers in Latin America

Prudential Financial, a global financial services leader, has announced a strategic partnership with 123Seguro, a leader in digital insurance transformation in Latin America and one of the region's largest digital insurance platforms. The partnership combines the strength of both companies' industry-leading customer service and technological innovation with Prudential's nearly 150 years of insurance experience.

Beginning in 2024, Prudential and 123Seguro will leverage capabilities to distribute accident & health, life and ancillary products to the region's mass market customers, initially focusing on Brazil and Mexico. Customers will access the products and services through a robust digital platform built and administered by 123Seguro, which complements and expands the reach of Prudential's existing business. Partners will have the flexibility to modify offerings based on relevance to customers' needs, and the end-to-end experience for customers will be contextual, embedded, simplified and frictionless from purchase through claim payment.

"Less than 20% of Brazil and Mexico's populations have any form of life insurance," said Luciana Amano, vice president and head of Partnerships for Prudential's International Insurance Businesses. "The scale of reach achieved by this new partnership with 123Seguro allows us to help millions more Latin Americans, across all stages of life, achieve greater financial security. Our distribution partners can anticipate a highly differentiated ROI and enhanced customer loyalty by offering innovative products backed by best-in-class customer and claims service."

The partnership aims to raise the standard of protection and service in the region and is a key component of both companies' growth strategies in segments including banks, fintechs, retailers and the gig economy. The intent is to expand into additional key Latin American markets in the near future.

"This agreement represents a crucial step in our B2B2C strategy, enabling us to partner with a global company to offer innovative and accessible insurance through alliances with distribution partners in each of our markets," said Martin Ferrari, CEO and co-founder of 123Seguro. "We are excited to be able to complement our portfolio with products of Prudential's quality and strength."

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About Prudential Financial

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of June 30, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise, and innovation for nearly 150 years. For more information, please visit news.prudential.com.

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About 123Seguro

Founded in 2010, it is the insurtech company with the largest presence in Latin America. It is the most robust online insurance platform for the banking, fintech and retail sectors, with B2B and B2C operations in Argentina, Brazil, Chile, Colombia, and Mexico. It has been chosen as one of the most innovative by CB Insights and is a case study by Columbia University. More info: 123seguro.com.

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Original text here: https://news.prudential.com/latest-news/prudential-news/prudential-news-details/2024/Prudential-Financial-partners-with-insurtech-123Seguro-to-bring-innovative-insurance-to-customers-in-Latin-America/default.aspx