SÃO PAULO, Dec. 03, 2024 — discovermarket, a leading global Insurtech specializing in embedded insurance solutions, has officially launched in Latin America, starting with Brazil. This expansion aims to revolutionize embedded insurance in the region by introducing innovative solutions, technology, and expertise to its dynamic Insurtech market.
Latin America’s insurance market, encompassing both life and non-life segments, is experiencing rapid growth driven by increased digital access. Brazil’s general insurance sector alone is projected to expand at a compound annual growth rate (CAGR) of 8.8%, from R$307.3 billion (US$61.6 billion) to R$430.7 billion (US$85.7 billion) by 2028, showcasing significant potential.
discovermarket’s Brazilian presence will facilitate partnerships with key brands in sectors such as ticketing, fintech, travel, and telecommunications to offer embedded insurance solutions providing real customer value.
Embedded insurance seamlessly integrates into digital purchasing, enabling brands to offer protection at the point of sale. By providing more affordable and accessible options than traditional methods, discovermarket aims to broaden insurance access in Brazil.
“Our Latin American expansion, beginning in Brazil, marks a significant milestone for discovermarket as we strive to make protection affordable, relevant, and accessible for everyone,” said Patrick Bühler, CEO and Founder of discovermarket. “Our streamlined, digital-first approach empowers Brazilian brands—and those across the region—to improve customer service and address the protection gap through innovative embedded insurance products.”
Founded in 2021, discovermarket’s objective is to alleviate everyday concerns by providing convenient digital access to protection. Its award-winning API Embedded Insurance platform has been transforming 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 collaborate with trusted brands across various industries to bridge the protection gap for underserved populations, offering accessible, affordable, and relevant embedded insurance solutions. Our award-winning API Embedded Insurance platform seamlessly connects insurers, brokers, and service providers, enabling them to reach new customer segments with innovative embedded insurance offerings.
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Contact:
Emily Yu
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