Argentina's San Cristobal Sociedad Mutual de Seguros Generales SA has launched a wholly digital insurance company called iúnigo, La Nacion reported.

Iúnigo will initially offer car insurance through an app and looks to include insurance for temporary homes and microinsurance in the medium term.

The insurance company aims to expand in Latin America and be the first so-called insurtech unicorn in the region, with 8 million to 10 million insured cars within 10 years.