Insurance for the New Possible · 2025-09-30 · 49 min
Insurance for the New Possible was joined by Stefan Möller , CEO and Founder of Klar, and Alejandra Magaña , Director of Revenue Growth, Digital Transformation and Distribution Channels at Chubb. Some of the insights they shared included: - With six banks dominating the Mexican market, there is little competitive pressure for incumbents to offer attractive products to underserved populations. Without new entrants driven by different incentives, financial exclusion persists. - Even among the banked, many Mexicans are unaware of what returns they could earn on deposits. For Klar, improving literacy is not just a service; it is core to the mission of getting people into the formal financial system with clear, tangible benefits. - Financial inclusion without insurance leaves people vulnerable to unexpected life events - job loss, illness, or death. Lack of protection exacerbates economic instability, especially for underserved families. - Deep local roots in Mexico enable better technology development and more efficient decision making. This benefits Mexicans in a way that strictly foreign players eneritng the Mexican market cannot accomplish.
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