Digital insurance firm Stere has expanded its insurance operations into the Latin America by closing 15 embedded insurance deals with several regional companies.

The US-based insuretech’s Latin American operations is headed by CEO, Thiago Soares.

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Soares earlier served Chubb, Allianz, CNP Assurance, and Hannover Insurance in actuarial senior management positions, and digital analytics regional manager roles.

In Latin America, Stere intends to serve regional embedded clients such as banks, tech platforms, online marketplaces, superapps, and member-based organisations.

Furthermore, Soares-led team already signed on a group of MGAs and embedded partners based in Latin America. This is aimed to help address capacity needs, implement unique digital capabilities using APIs and develop a unique customer experience journey.

Soares added: “My team is already working closely with companies like Chubb, Berkley, Mapfre, AIG, MDS, Aon, Sabemi, Ezze and others to remove historic industry pain points by bringing Stere’s unique marketplace of underwriting deals and digital infrastructure capabilities to the LatAm insurance industry.”

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Soares said the team’s experience in the insurance industry would help customers in achieving the best combination of smart underwriting with innovative technology and great customer experience.

Stere CEO and founder Dogan Kaleli said: “Thiago’s extensive local, regional, and global experience are perfectly suited to this position and I can’t think of anyone better qualified to manage Stere’s LatAm journey.

“In just a few short months, he has assembled a team who represent Stere in Brazil, Colombia, and Mexico and who have already closed deals with 15 significant LatAm organizations, securing a contracted revenue of two million dollars.”