MAPFRE has agreed to acquire a 38.9% stake in Spanish insurtech Tuio, strengthening its investment in digital insurance distribution and artificial intelligence as it seeks to expand across Europe and Latin America.

The transaction will be completed through a combination of share purchases from existing shareholders and participation in a capital increase. Financial terms were not disclosed.

The deal remains subject to the necessary regulatory approvals.

Supporting digital expansion

MAPFRE said the investment will enable Tuio to accelerate the development of its digital insurance model beyond Spain into markets across Latin America and Europe where the insurer already operates.

Founded in 2021, Tuio provides fully digital home, motor and life insurance products using proprietary technology, automation and artificial intelligence. The company currently serves more than 100,000 active customers in Spain.

MAPFRE said the partnership will support Tuio’s continued growth while preserving its focus on innovation, agility and digital specialisation.

Focus on artificial intelligence

The insurer said the investment reflects its view that artificial intelligence, particularly agentic AI, represents a significant technological shift for both the insurance sector and the wider digital economy.

According to MAPFRE, the partnership will help develop more agile and personalised distribution models that combine AI capabilities with human advice, while improving access to insurance for underserved customer groups.

Tuio said it became the first insurance application to integrate with ChatGPT for the sale of insurance products. Since launching the integration in early February, the company said more than 20% of its new customers have been acquired through AI assistants.

Growth plans

MAPFRE said the investment provides additional support for Tuio’s expansion strategy in Spain and internationally while accelerating the development of new technological capabilities.

The insurer added that the transaction aligns with its broader strategy of investing in digital innovation and new distribution models designed to meet evolving customer expectations.

As one of Spain’s largest insurers, MAPFRE operates in more than 40 countries and reported €34.5 billion in revenue and €1.1 billion in net earnings for 2025.

Tuio has previously secured backing from investors including BlackRock, Bamcap Ventures, Extension Fund and Capital Certainty.