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December 5, 2019updated 09 Dec 2019 1:21pm

Generali inks distribution pact with Mercado Libre in Argentina

La Caja, the Argentine subsidiary of Italian insurer Generali, has signed a pact with Argentina-based e-commerce firm Mercado Libre to offer non-life insurance plans.

Under the agreement, Generali will sell its motor and home insurance plans through the e-commerce firm’s digital portal.

The collaboration will enable Mercado Libre’s customers to access its digital platform to prepare quotes and underwrite the LaCaja plans.

Generali said that the signing of the agreement will expand its channels that include the website, mobile app, and direct phone assistance.

It is also expected to augment Generali’s 64 physical agencies located across Argentina and the range of distribution contracts that already exist.

Commenting on the agreement, Generali international CEO Jamie Anchústegui said: “The initiative is incorporated in the new strategy of the Generali Group to develop innovative B2B2C distribution models by opening new customer contact channels.

“The agreement with Mercado Libre also makes it possible to strengthen the company’s digital transformation process, becoming the first operator in the market to trial this new channel.”

In October this year, Generali Vietnam Life Insurance and Orient Commercial Joint Stock Bank (OCB) signed a bancassurrance contract whereby the bank will exclusively distribute Generali’s life and health insurance products in the country. The contract is valid for 15 years.

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