By Brazil Stock Guide – Prudential do Brasil, the local unit of Prudential Financial Inc. (PRU), has formed a partnership with fintech RecargaPay to distribute mass-market insurance products through digital channels, the company said Thursday (27).
The agreement integrates a loan protection policy, known in Brazil as “seguro prestamista,” directly into the borrowing flow within the RecargaPay app, which has more than 13 million clients. The purchase process is fully digital and embedded in the loan contracting journey.
The product is designed to cover outstanding debt balances in the event of unforeseen circumstances, while also helping reduce default rates and strengthen the profitability and security of credit operations for the platform.
According to the companies, the insurance is already available to all RecargaPay users taking out loans. The partners plan to expand the collaboration by adding new protection products and broadening the range of insurance solutions offered through the app.
“Today, only 18% of the population in the country has some type of insurance. By joining forces with RecargaPay, we are able to expand our geographic reach and access to financial protection with affordable solutions that combine efficiency, trust and real impact,” said Luciana Amano, Vice President of Mass Market at Prudential do Brasil.
Prudential do Brasil currently covers more than 6.5 million lives, as it seeks to scale distribution through digital platforms and strategic partnerships in Latin America’s largest economy.
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