Mercado Pago to sell Prudential’s accident and life insurance in Argentina

In July, Prudential Financial announced a partnership with Mercado Libre, “the Amazon of Latin America,” to distribute life and accident insurance in Brazil through the company’s digital wallet Mercado Pago.

Now, the companies are expanding the offering to Argentina, giving consumers the option to purchase coverage online and receive health benefits such as telemedicine, emergency dental assistance, and pharmacy discounts.

The integration is powered by insurance startup Klimber.

“As we continue to grow in Argentina, we are seeking strategic partners that allow us to offer more and better products, with the reliability of Prudential, to the greatest number of people and in ways they want to purchase them. Partnering with Mercado Pago allows millions of users to access the protection and health products they need in an agile and simply way.” – Mauricio Zanatta, president and CEO of Prudential Seguros of Argentina.

“Integrating these insurance products with our existing savings, payments and credit products round out our financial inclusion value proposition. After launching cellphone theft and damage insurance this year, we listened to our clients and identified their concerns about protecting their families from the unexpected. And the result is the launch of life and personal accident insurance in partnership with Prudential of Argentina and Klimber.” – Carlos Cernadas, senior director of insurtech for Mercado Pago.

“We are accessing a segment that, until now, has not been reached by anyone, which is the base of the pyramid. The creation of accessible personal insurance that works as a financial protection tool is an unprecedented innovation in the life insurance market and insurance in general.” – Julian Bersano, CEO and founder of Klimber.