Chubb, the world's largest publicly traded property and casualty insurer, and Tenpo, the neobank that integrates the portfolio of Krealo, the corporate venture capital of Peruvian Grupo Credicorp, announced a regional alliance to co-create customized digital insurance offerings for the app’s millions of customers in Chile and future users across Latin America.
Focused on promoting digital and financial inclusion, the alliance will provide Tenpo customers with tailor-made insurance products through an intuitive, user-friendly experience, where premium quotes, bill payments, and account management are transacted digitally.
“At Chubb, we are laser-focused on providing our partners’ customers with an optimized experience that makes selecting coverage protections easy and intuitive, with just a few clicks”, said Rodrigo Valiente, Vice President and Head of Digital for Chubb Latin America. “We look forward to continuing to co-design innovative insurance solutions with Tenpo’s team to create customized, value-added propositions for their customers. Chubb’s technology integration platform, Chubb Studio, its expertise in underwriting, AI-powered data analytics, and a fast, digital-first approach to claims management will serve as a complement to Tenpo’s unique understanding of their customers’ needs.”
Founded in 2020, the Chilean fintech offers customers free bank accounts, prepaid cards, and many daily financial solutions, including machine learning-based personal finance management, investments, and international transfers.
“We are excited to team up with Chubb, which will become a key ally on our challenge of accelerating people’s digital and financial inclusion. We aspire to represent what is most important to customers when it comes to managing their finances: safety and transparency,” said Fernando Araya, Co-founder & CEO of Tenpo. “We have a multicultural team distributed across Chile, Peru, Colombia, Ecuador and Argentina, and I am confident that together with Chubb we will support the protection needs of millions of people, entrepreneurs, and companies, using state-of-the-art technologies, with the highest safety standards,” he said.
The alliance starts in Chile, Tenpo’s most mature market, and the first insurance product will be coverage for theft of personal belongings from a vehicle.
Chubb’s technology, analytics, and data capabilities provide its global partners and their customers with a seamless experience. These capabilities are being utilized in Latin America with partners like Tenpo and in other regions around the world, including Asia and Europe. Chubb Studio allows business partners to add digital insurance offers and create end-to-end experiences across the customer journey within their existing digital platforms, with significant speed-to-market capabilities quickly and easily. Today, Chubb Studio reaches an addressable market of more than 300 million customers worldwide, via strategic business partners.