123Seguro

123Seguro operates as a digital insurance brokerage platform with a strong presence in Latin America, focusing on making insurance more accessible and transparent for consumers. Founded in 2010 in Buenos Aires, Argentina, by brothers Martín and Bruno Ferrari, the company was established to streamline the process of purchasing and managing insurance policies. Martín Ferrari, the CEO, brings over 17 years of experience in the insurance industry and holds a B.A. in Business Management, complemented by executive programs at Stanford, Harvard, and Columbia Business School. His background, which began during the Argentine economic crisis of 2001-2002, provided him with resilience and a deep understanding of navigating complex economic environments. Bruno Ferrari serves as the company's COO, contributing to the operational management of the insurtech firm.

The company's business model is centered on a B2B2C strategy, providing a platform where individuals can compare, customize, and purchase insurance policies online. Revenue is generated by acting as a broker for over 20 different insurance companies, earning commissions on the policies sold through its platform. Initially, 123Seguro bootstrapped its operations, which allowed it to develop a user-focused model before securing its first major funding round. In December 2017, it closed a $3 million seed round with participation from notable investors like Mercado Libre, NXTP Labs, and Alaya Capital to fuel its expansion across Latin America.

123Seguro primarily serves individual consumers looking for auto, life, home, and personal accident insurance. Its platform provides detailed quotes, policy management, and claims assistance. A key feature is its mobile application, which allows users to access their policy documents, communicate directly with the company, and request roadside assistance with a single click. The firm has expanded its operations beyond Argentina to include Colombia, Brazil, Chile, and Mexico. A significant part of its growth strategy involves forming strategic alliances with banks, retailers, and fintech companies through its "+123" program, which embeds its insurance offerings into third-party platforms. This channel represented over 40% of its policy sales in the first half of 2023. A notable partnership was formed with Prudential Financial in late 2024 to distribute accident, health, and life insurance products to the mass market in Brazil and Mexico, regions with low insurance penetration.

Keywords: digital insurance broker, insurtech Latin America, online insurance comparison, auto insurance, life insurance, policy management, claims management, Martín Ferrari, Bruno Ferrari, embedded insurance, B2B2C insurance, Mercado Libre investment, Prudential partnership, financial services, Argentina startup, insurance technology, online broker, policy comparison, digital distribution, accident & health insurance