MercadoLibre, via its digital wallet Mercado Pago, is set to sell Prudential Seguros’ personal accident and life insurance coverage in Argentina.    

The move will help Mercado Pago strengthen its insurtech offering.

The latest offering in Argentina follows a recent collaboration between Mercado Pago and Prudential to offer life insurance services in Brazil.

From purchase to claim management, the new proposition claims to offer consumers a digital and accessible experience.

Apart from life products, the service offers users health benefits including telemedicine, emergency dental assistance as well as pharmacy discounts.

Additionally, the platform will enable entrepreneurs to access personal accident and disability insurance, and injury and hospitalisation income.

Prudential Seguros of Argentina president and CEO Mauricio Zanatta said: “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.”

Mercado Pago insurtech senior director Carlos Cernadas said: “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.” Prudential’s offerings in Argentina will be offered in coordination with reinsurer Swiss Re and digital firm Klimber.