Assurant, Inc. (NYSE: AIZ) announced the launch of its new business line, Financial Services Ecosystem Protection, in Chile. This expansion aims to address risks associated with payments, purchases, and fraud amid rising digital transaction volumes in the region.

The initiative builds on Assurant’s 15-year presence in Chile offering protection for connected devices, homes, and automobiles. The new line introduces solutions for vehicle financing and complementary programs tailored to various distribution models, including insurance and reinsurance structures. This move responds to the evolving financial ecosystem where consumers increasingly access products through banks, digital wallets, and marketplaces.

Leadership changes support regional growth

To strengthen local capabilities, Assurant appointed Ricardo Laso as President of the Andean Region. Laso brings over 13 years of experience at Assurant, spanning actuarial and business leadership roles. He assumes leadership following Fernando D’Amico’s promotion to VP, Strategic Initiatives and Execution, Latin America. Laso will oversee the expansion of strategic partnerships and the pursuit of new opportunities across Chile, Colombia, and Peru.

Digital payment trends drive demand

The launch is underpinned by significant shifts in consumer behavior regarding digital finance. According to the Central Bank of Chile, more than 7.7 billion digital payments were made over the past twelve months. Individuals over the age of 15 averaged 435 digital payments per year during this period. These figures highlight the growing need for simpler, faster, and more connected protection experiences.

Global scale supports local expansion

Assurant currently serves more than 325 million consumers across 21 countries. The company’s global portfolio includes protection solutions for over 57 million vehicles, 68 million mobile devices, and 128 million appliances and consumer electronics worldwide. The new Chilean business line leverages this global expertise to support partners in delivering relevant customer propositions.

Ricardo Fiuza, President of Latin America at Assurant, stated that Chile remains an important market for growth in the region. The addition of this business line expands capabilities to support strategic partners with innovative solutions addressing evolving market needs.

Assurant, Inc. (NYSE: AIZ) reported that mobile trade-in programs returned $1.43 billion to U.S. consumers in the second quarter of 2026. The data highlights a structural shift in upgrade behavior as consumers hold onto devices longer to offset rising costs.

Key Metrics from Q2 2026

The company’s Q2 Mobile Trade-In and Upgrade Industry Trends Report revealed significant changes in device lifecycle management:

• Average age of iPhones turned in surpassed four years for the first time.
• iPhone 13 was the top turned-in device overall.
• Galaxy S23 Ultra led Android trade-ins.
• Apple Ultra 3 smartwatches delivered an average trade-in value of $341.

What the Numbers Show

The convergence of record-high trade-in values ($1.43 billion) and extended device retention (average age >4 years) indicates a maturing secondary market. Consumers are not simply delaying upgrades; they are actively leveraging older, high-value devices to subsidize new purchases. This suggests that trade-in programs have transitioned from a peripheral convenience to a core component of consumer affordability strategies, particularly as new device component costs rise.

Market Context

Biju Nair, EVP and President of Global Connected Living at Assurant, noted that component costs continue to pressure new device prices. He emphasized that trade-in timing is critical for consumers seeking to offset these costs. Assurant’s capabilities in repair, logistics, and recommerce allow clients to recover more device value and return quality devices to the market.

Emily Herbert, senior analyst at Counterpoint Research, stated that strong demand for high-quality refurbished smartphones supports healthy trade-in values. She highlighted that trade-ins supply necessary inventory for the refurbished market, benefiting consumers, manufacturers, and the environment by reducing electronic waste.

As replacement cycles lengthen, Assurant continues to support device ownership through protection, repair, and resale services for wireless carriers, retailers, and manufacturers.