(MENAFN- GlobeNewsWire - Nasdaq) SÃO PAULO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- discovermarket, a global Insurtech leader and innovator in embedded insurance solutions, has announced its official launch in Latin America, beginning with establishing a legal entity in Brazil. With this expansion, discovermarket aims to transform the future of embedded insurance in the region by bringing innovative insurance solutions, technology, and expertise to Latin America's rapidly evolving Insurtech landscape.
The Latin American insurance market is among the world's fastest-growing in both life and non-life segments thanks to its rising digital access and connectivity. Just Brazil's general insurance sector is projected to grow at a CAGR of 8.8%, from R$307.3 billion (US$61.6 billion) to R$430.7 billion (US$85.7 billion) by 2028, highlighting the market's vast potential.
discovermarket's presence in Brazil will enable partnerships with trusted brands across ticketing, fintech, travel, telecommunications, and more to introduce embedded insurance solutions that provide real value to their customers.
Embedded insurance integrates seamlessly into the digital purchasing journey, allowing brands to offer protection at the point of purchase. By tailoring more affordable and accessible propositions than traditional options, discovermarket seeks to make insurance available to a broader audience in Brazil.
“Our expansion into the Latin American market through Brazil represents an exciting new chapter for discovermarket as we work towards our mission of making protection affordable, relevant, and accessible for all,” said Patrick Bühler, CEO and Founder of discovermarket.“By delivering a hassle-free, digital-first experience, we empower brands in Brazil-and throughout the region-to enhance customer service and address the protection gap with innovative embedded insurance products.”
Founded in 2021, discovermarket goals eliminate everyday worries by enabling a world where everyone has convenient access to protection digitally. With its award-winning API Embedded Insurance platform, discovermarket has been redefining the Insurtech landscape across Southeast Asia.
About discovermarket
discovermarket is a global insurtech company headquartered in Switzerland and Singapore, proudly serving over 200 million customers. With a presence in Southeast Asia, Europe, and Latin America, we work with trusted brands across diverse industries to bridge the protection gap for underserved customers, offering accessible, affordable, and relevant embedded insurance to all. Our award-winning API Embedded Insurance platform facilitates seamless connections among insurers, brokers, and service providers, empowering them to unlock new customer segments with innovative embedded insurance solutions.
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Emily Yu
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