LATIN AMERICA ADVISOR

Financial AMERICA ADVISOR

A daily publication Of the dialogue

August 22, 2023

What Does Mercado Libre Mean for Latin America’s Insurers?

E-commerce site Mercado Libre said its insurance business has reached five million clients. A Mercado Libre worker is pictured. // File Photo: Mercado Libre.

Q

A

Pierluigi Paganini, CEO of Cybhorus: “There are many reasons for the growth of Mercado Libre’s fintech and insurance businesses in Latin America, the first one is the growing popularity of e-commerce platforms in Latin America. Mercado Libre is the leading e-commerce platform in the region. The increase in demand for financial services is sustained by this growth. Payment processing and insurance are essential services for both e-commerce merchants and consumers. Mercado Pago enables customers to pay for their purchases online with a variety of methods, including credit cards, debit cards and bank transfers. Insurance solutions offered by Mercado Libre are cheap, convenient and easy to purchase. Another reason behind the growth is the huge investment in technology by Mercado Libre, allowing the firm to provide efficient and secure financial services. The lack of financial infrastructure in Latin America is caused by…”

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ABOUT THE financial services ADVISOR

Covering Latin America’s banking and insurance sectors, remittances trends and data, micro lending issues, new technologies in the industry, anti-money laundering regulations, and much more, the Inter-American Dialogue’s biweekly Financial Services Advisor, a sister publication of the Latin America Advisor, gives readers fresh insight and diverse viewpoints from financial sector leaders. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

board of advisors

Ernesto Armenteros
Vice Chairman
of the Board,
Banco de Ahorro y Credito Union

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

Richard Child
CEO,
Mattrix Group

Michael Diaz
Partner,
Diaz, Reus & Targ, LLP

Ernesto Fernández Holmann
Chairman of the Board,
Ayucus

Desiree Green
Vice President,
Int’l Gov’t Affairs,
Prudential Financial

Earl Jarrett
Deputy Chairman & CEO
The Jamaica National Group

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

Thomas Morante
Attorney,
Carlton Fields

Manuel Orozco
Senior Fellow,
Inter-American Dialogue

Adalberto Palma Gómez
Senior Partner,
Aperture SC

Rodolfo Pittaluga
Adjunct Professor,
Florida International University
College of Law

Roberto Teixeira da Costa
Founder & Board Member Emeritus, CEBRI

Mario Trujillo
CEO,
DolEx Dollar Express

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