Reinsurance giant Swiss Re has led a pre–Series A funding round for Latin America-based digital insurer Klimber.
According to a report from Reinsurance News the investment, the value of which was not disclosed, will provide the firm with access to the Swiss Re’s innovative solutions, products, and extensive pool of knowledge and data, while adding the financial strength of a global reinsurance entity.
Klimber, which is headquartered in Buenos Aires, Argentina, was founded in 2016, and in 2018 the platform launched the first digital life insurance offering in Latin America through its end-to-end platform.
For Swiss Re, the investment in Klimber supports its commitment to narrow the insurance protection gap in Latin America, creating a leading digital ecosystem with a significant InsurTech in the region.
Together, the pair will work to make the insurance buying process simpler to provide over 100 million of underinsured individuals in the region with greater access to insurance protection.
Julian Bersano, Klimber’s CEO, said, “Having Swiss Re as one of our main investors will enable Klimber not only to quickly establish our digital solutions as a standard in Latin America, but also provides our company with critical resources to deliver innovative protection to more than 100 million of underinsured Latin Americans.”
Kaspar Mueller, president Reinsurance Latin America, Swiss Re, said, “Our aim is to make the insurance buying process as simple as possible – so that even more people have access to the safety net it provides. We believe that the capabilities and experience that Swiss Re and Klimber bring to the table will help achieve that.
“Investments like this underscore our commitment to the Latin American market and our clients in the region to build a leading digital ecosystem.”
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