Digital insurance ecosystem Stere has expanded its operations to the Latin America insurance market, the company announced.
Based in Brazil Stere has said it will use its new presence to serve regional embedded and affinity clients such as tech platforms, banks, online marketplaces, superapps, and member-based organisations.
Stere has entered the market with 15 closed deals in place and Thiago H. Soares as CEO of Latin American operations.
These include Fleets, a boat rental app with over 2,000 vessels; Kitei, a fintech for debt settlement and refinancing platform; OAB, Brazilian Bar Association, in collaboration with Redentor Seguros; and FeTransporte, a Brazilian-based MGA focused on marine and transportation.
Soares and his team, Stere noted, have also signed on a select group of LatAm-based MGAs and embedded partners to help address capacity needs, develop a unique customer experience journey, and implement unique digital capabilities using a rich library of APIs.
“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,” said Stere CEO and Founder Dogan Kaleli.
He added: “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 organisations, securing a contracted revenue of two million dollars.
“Based on this early momentum, I am excited to see what they can do when operations scale and the team expands more broadly throughout the region.”
According to the company, Soares is an insurance industry veteran whose career spans two decades, multiple continents, actuarial senior management positions, and digital analytics regional manager roles at Chubb, Allianz, CNP Assurance, and Hannover Insurance.
Soares said: “Stere is an enabler, not a competitor, and I am thrilled to help Dogan realise his vision of a digital ecosystem that creates a seamless customer experience by eliminating long-standing industry challenges.
“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.”
He brings to Stere extensive experience developing digital transformation processes for LatAm-based global Fortune 100 companies as well as development of predictive and statistical models to identify profitable risks and customers with high propensity to buy insurance and improve underwriting and rating processes.
Soares added: “Our team has remarkable experience in the insurance industry, which helps our customers achieve the best combination of smart underwriting with innovative technology and great customer experience.”
