EP 35 – How Are Innovative Fintechs Reshaping the Financial Landscape in Mexico?
30 September 2025

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:

  • Insurance can’t rely on claims alone to demonstrate value. The industry needs to make the value of insurance more visible throughout the customer lifecycle. That means potentially front-loading benefits, rewards, and experiences.
  • Embedded insurance works best when it doesn’t look like insurance. The sweet spot lies in designing synergistic insurance experiences that blend into a partner’s ecosystem. Think less about selling insurance directly, and more about solving contextual problems.
  • Micro-engagements create macro-trust. The real opportunity is in riding the existing engagement rails of digital platforms — from shopping to content to financial planning tools.
  • Digital platforms offer rich, intent-driven signals for insurance. Intent is the new targeting and digital platforms create powerful conversion funnels.
  • Livestreaming could be the new digital salesforce. Live commerce is already massive in Asia, and it’s merging entertainment and transactions in real time. This model works because of engagement, two-way interaction, and urgency.
  • “Do Right by the Customer” is the guiding principle. In a world of personalization, embedded experiences, and digital trust, the brands that win will be those who prioritize customer value.
  • 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.
  • Innovation isn’t just about technology—it’s about improving customer experience, building trust, and delivering clarity. Whether it’s simplifying policy language to be understood in 60 seconds or developing AI-powered financial guidance, the goal is to be present, fast, and relevant in customers’ lives.

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Stefan Möller

Stefan Möller

CEO & Founder at Klar

Born in Mexico, Stefan Möller is the founder and CEO of Klar, the country’s second-largest digital financial services platform. Since 2019, he has led Klar’s mission to democratize access to fair, simple, and inclusive products, reaching over 2.5M active users. A former investment partner and banking consultant, Stefan built one of the sector’s most efficient models, achieving profitability in 2024. Under his leadership, Klar launched Platinum Card, Klar Empresarial, and is now pursuing a full banking license ahead of an IPO.
Alejandra Magaña

Alejandra Magaña

Revenue Growth, Digital Transformation and Distribution Channels Director at Chubb

Alejandra Magaña is Revenue Growth, Digital Transformation and Distribution Channels Executive Director at Chubb Mexico, driving the company’s transformation through technology, innovation, and omnichannel strategies. With extensive leadership experience at Chubb and AXA, she has built a strong track record in customer-centric growth and digital business models. Her expertise spans Bancassurance, Fintech, retail, airlines, and automotive dealers, where she has designed impactful solutions and forged strategic partnerships that elevate customer experience and business performance.

More about Chubb Partners :

Chubb’s partners include leaders in retail, e-commerce, banking, fintech, airline, telecommunications and other industries. We co-create and design digital insurance solutions for their customers – individuals and businesses of all sizes.