Seguros Multiples

What Seguros Multiples does

Seguros Múltiples (legal name: Cooperativa de Seguros Múltiples de Puerto Rico) is a property and casualty insurance cooperative incorporated in Puerto Rico on April 23, 1963, and operating since February 8, 1965. It is organized under Chapter 34 of the Puerto Rico Insurance Code as a non-profit, owned by approximately 150 credit unions and other cooperatives, each holding one vote in the delegate assembly. The company sells auto, residence, and commercial insurance to Puerto Rican individuals and small and medium businesses, alongside bundled products (Multipack Personal, Multipack Comercial) that combine multiple coverage types into a single annual policy with up to 20% savings versus standalone policies, and add-on assistance services (roadside/travel and home emergency, each priced at $50/year). It also distributes the state-mandated Seguro Obligatorio (SRO) at the legally fixed price of $99 per year per vehicle through the government CESCO Digital portal during vehicle tag renewals.

The company's technology stack centers on a web portal, native iOS/Android mobile app, and an Amazon Alexa skill enabling 24/7 self-service for policy management, premium payments, claims filing, document downloads, and assistance requests. Claims operations include virtual inspection (photo/document upload by case number), Express claims processing, and direct deposit payment options. Distribution is omnichannel: over 30 physical service centers across Puerto Rico (with eight named branches in San Juan, Ponce, Mayagüez, Aguadilla, Arecibo/Hatillo, Bayamón, Caguas, and Carolina), a TeleSeguros phone channel (787-758-0101), an authorized agents/producers network, and digital self-serve surfaces. Revenue is generated almost entirely from recurring annual insurance premiums on personal and commercial P&C policies, supplemented by subscription-priced assistance add-ons and one-time gift card sales; as a non-profit cooperative, earnings are reinvested rather than distributed to external shareholders. The company maintains financial strength ratings of A- (Excellent) with positive outlook from A.M. Best and A/Exceptional from Demotech.

Name

Seguros Multiples

Legal name

Cooperativa de Seguros Múltiples de Puerto Rico

Website

https://segurosmultiples.com

Company type

Private

Founded year

1963

Operating status

Operating

Headcount range

251–500 employees

Short description

Seguros Múltiples is a Puerto Rican property and casualty insurance cooperative serving individuals and SMBs with auto, home, and commercial coverage, plus bundled Multipack products and roadside/home assistance, distributed through 30+ branches, digital channels, and 150 member credit unions.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Insurance Carriers and Related Activities (524), Other Direct Insurance (except Life, Health, and Medical) Carriers (524128), Other Insurance Funds (52519)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• Property and casualty insurance
• Auto insurance
• Home insurance
• Commercial insurance
• Roadside assistance

Headquarters

HQ city

San Juan

HQ country

Puerto Rico

HQ region

Latin America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Property & Casualty Insurance Premiums: As a property and casualty insurer, Seguros Múltiples generates the vast majority of its revenue from annual insurance premiums charged on auto, residential, and business policies. Premiums are collected annually (coinciding with vehicle tag renewals) or on a per-policy-year basis. The cooperative structure means revenue flows back into the organization for the benefit of member policyholders rather than external shareholders.
2. Mandatory Auto Insurance (Seguro Obligatorio): State-mandated auto liability insurance priced uniformly at $99 per year per vehicle, as required by Puerto Rico law. Revenue is collected annually through the vehicle registration (marbete) renewal process.
3. Assistance Services (Roadside & Home): Add-on assistance services — Múltiple Asistencia en Carretera y Viaje and Múltiple Asistencia en el Hogar — each priced at $50 per year. These supplementary services are bundled into Multipack Personal or sold independently, providing recurring annual revenue.
4. Gift Cards (Multiple Asistencia): Gift cards for the Múltiple Asistencia en Carretera y Viaje service are sold as standalone products, allowing customers to purchase roadside and travel assistance coverage for friends and family members as a present.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

Seguros Múltiples is a Puerto Rican cooperative insurance company offering property and casualty insurance products for individuals and businesses. Core offerings include auto insurance (including mandatory Seguro Obligatorio), home insurance (homeowners, dwelling/hazard, flood), commercial insurance (property, liability, auto fleet, umbrella), and bundled products (Multipack Personal and Multipack Comercial) that combine multiple coverages with up to 20% savings. Supplementary roadside and home emergency assistance services are sold standalone or bundled.

Product overview

Seguros Múltiples is a Puerto Rican cooperative insurance company offering a comprehensive portfolio of personal and commercial insurance products. The core offering includes auto insurance (Seguro de Auto), residence insurance (Seguro de Residencia), and business insurance (Seguro de Negocio). The company differentiates through bundled products like Multipack Personal and Multipack Comercial, which combine multiple coverages into single policies with savings up to 20%. Supplementary assistance services include Múltiple Asistencia en Carretera y Viaje ($50/year for roadside and travel assistance) and Múltiple Asistencia en el Hogar ($50/year for home emergency services). Digital access is provided through a mobile application and Amazon Alexa skill integration. The company operates exclusively in Puerto Rico and is organized under Puerto Rico's Insurance Code Chapter 34 as a cooperative.

Differentiator

Problem solved

Functional benefit

Products and services

• Multipack Personal A bundled annual insurance policy combining auto, home, and additional coverages (responsibility umbrella, roadside assistance, home assistance, boat insurance) into a single policy with one invoice, offering savings up to 20% versus purchasing separate individual policies. Targeted at Puerto Rican individuals and families.
• Seguro de Auto Vehicle insurance providing full cover, liability, physical damage protection, and claims service for automobile owners in Puerto Rico. Includes collision, comprehensive, liability, medical payments, and rental car coverage options.
• Seguro Obligatorio Mandatory minimum auto liability insurance required by Puerto Rico law for motor vehicles, covering up to $4,500 per accident for damages caused to another vehicle. Priced uniformly at $99 per year per passenger vehicle and purchased annually with vehicle registration (marbete) renewal.
• Múltiple Asistencia en Carretera y Viaje Roadside and travel assistance service priced at $50 per year providing 24/7 towing, tire changes, battery jump-starts, fuel delivery, and locksmith services throughout Puerto Rico, plus international travel medical emergency assistance, lost luggage support, accommodation expenses, and 24/7 telephone support. Available standalone or bundled within Multipack Personal.
• Seguro de Residencia Home insurance policies available as Homeowners (comprehensive coverage of structure, personal property, and liability), Dwelling/Hazard (basic structure coverage for rentals or mortgaged properties), Flood (NFIP-compliant coverage), and Personal Liability, protecting against hurricanes, earthquakes, fire, theft, and vandalism.
• Múltiple Asistencia en el Hogar Home emergency assistance service priced at $50 per year providing 24/7 coverage for plumbing, electrical, locksmith, and glass repair emergencies throughout Puerto Rico, with up to $300 per event and up to 3 events per category annually. Coverage begins 24 hours after activation.
• Seguro de Negocio Commercial insurance products including Commercial Property, Civil Liability, Commercial Auto fleet, Commercial Umbrella, and Inland Marine/Ground Transit coverage for Puerto Rican businesses. Civil liability limits start from $100,000 and pricing is tailored to industry and business type.
• Multipack Comercial Commercial bundled insurance combining property, liability, auto, and other coverages into a single policy with savings up to 20% on premiums versus purchasing separate business coverage. Targeted at Puerto Rican small and medium businesses seeking streamlined commercial protection.
• Aplicación Móvil Seguros Múltiples Native mobile application available on iOS and Android that enables policyholders to pay premiums, download documents, file claims, request roadside and home assistance, and access policy information 24/7.
• Alexa Skill Seguros Múltiples Amazon Alexa voice assistant skill enabling policyholders to query policy information, receive payment reminders, locate service branches and workshops, and request roadside and home assistance via voice commands on Alexa-enabled devices.

Quantifiable outcome

• Save up to 20% on insurance premiums by bundling auto, home, and assistance coverage in Multipack Personal compared to individual policies
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Number One Auto PartsminorOthersAn affiliated company within the Seguros Múltiples cooperative group. The relationship is disclosed in the company's Privacy Policy as one of the affiliates with whom customer information may be shared for service provision purposes.
• Mutli MortgageminorOthersAn affiliated company within the Seguros Múltiples cooperative group. Listed in the Privacy Policy as an affiliate with which customer information may be shared under applicable circumstances.
• TelesolutionsminorOthersAn affiliated company within the Seguros Múltiples cooperative group. Disclosed in the Privacy Policy as one of the affiliates sharing customer data for service-related purposes.
• Central Credit CorporationminorOthersAn affiliated company within the Seguros Múltiples cooperative group. Listed as an affiliate in the Privacy Policy, sharing customer information for service delivery purposes.
• Green Insurance AgencyminorOthersAn affiliated company within the Seguros Múltiples cooperative group. Disclosed in the Privacy Policy as an affiliate with data-sharing relationships for service provision.
• Amazon (Alexa)coreTechnology or IntegrationSeguros Múltiples has developed an official Amazon Alexa Skill ('Seguros Múltiples') available on the Amazon Skill Store. The skill enables policyholders to query policy information, receive payment reminders, locate service branches and workshops, and request roadside/home assistance via voice commands on Alexa-enabled devices. The integration represents the company's investment in voice-based digital self-service.

Scale indicators6 records

Recent moves1 record

Expansion highlights6 records

Direct peers

• MAPFRE Puerto Rico: MAPFRE Puerto Rico is a major P&C and auto insurer operating across the same personal and commercial lines as Seguros Múltiples. Both compete directly in mandatory auto, residence, and commercial coverage across the island, making MAPFRE the closest large direct peer.
• Multinational Insurance Company (Puerto Rico): Multinational Insurance is a Puerto Rico-domiciled P&C carrier writing auto, property, and commercial lines directly competing with Seguros Múltiples across personal and SMB segments. Comparable local-market orientation and product mix make it a tight direct peer.
• Universal Insurance Group: Universal Insurance Group is a property and casualty carrier with a strong Puerto Rico presence, offering auto, home, and commercial products that directly overlap with Seguros Múltiples' Multipack portfolio. They are a primary in-market competitor.

Broad incumbents

• Triple-S Management (BlueCross BlueShield of Puerto Rico): Triple-S is the dominant health insurer in Puerto Rico with deep island-wide distribution. While primarily health-focused, it is a broad financial-services incumbent whose scale, brand, and credit-union relationships make it a structural comparable in the local insurance market.
• GEICO (Puerto Rico operations): GEICO sells auto insurance direct in Puerto Rico with strong digital acquisition capability, overlapping directly with Seguros Múltiples' auto and mandatory insurance segments. Its low-cost direct model pressures pricing across the personal auto category.
• State Farm (Puerto Rico operations): State Farm operates in Puerto Rico offering auto and home coverage through local agents, overlapping with Seguros Múltiples' core products. As a broad incumbent with deeper capital and agent networks, it competes for the same personal-lines customer wallet.
• Liberty Mutual (Puerto Rico operations): Liberty Mutual writes personal and commercial lines in Puerto Rico, including auto, property, and umbrella coverage that directly overlap with Seguros Múltiples' bundled offerings. A broad incumbent peer with global scale and reinsurance capacity.
• Allstate (Puerto Rico operations): Allstate writes auto and property insurance in Puerto Rico through agency and direct channels. Comparable product mix (auto, home, bundled discounts) positions it as a broad incumbent peer against Seguros Múltiples' Multipack Personal offering.

Regional players

• Caribbean American Property & Casualty Insurance: Caribbean American Property & Casualty writes residential and commercial P&C coverage across the Caribbean basin. It shares a regional risk pool and similar catastrophe exposure with Seguros Múltiples, providing a useful benchmark for Caribbean P&C underwriting and pricing.
• Cooperativa de Seguros de Vida de Puerto Rico (COSVI): COSVI is a sister cooperative insurance company in Puerto Rico with shared cooperative values and member-base overlap. While primarily life and accident/health, it competes for the same credit-union member relationship and brand positioning, with similar governance and community-program model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@segurosmultiplespr
• Facebookfacebook.com/SegurosMultiplesPR
• LinkedInlinkedin.com/company/cooperativa-de-seguros-multiples
• Instagraminstagram.com/segurosmultiplespr

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Seguros Multiples