The president of Spanish insurer Mapfre offered the group's strategic 2019-2021 plan at an investor day, outlining efforts and progress in Latin America, with a special focus on its operations in Brazil and Puerto Rico.
Details were not disclosed about the new talks between the two partners and the future of their Brazilian insurance JV.
Failure to keep pace with technological change is seen as a key factor.
Watchdog SBS permits AFPs to offer commission discount schemes as yet more pension-related bills are submitted to congress.
The launch is part of Sancor's broader rollout of a telematics-based system, following a pilot program last year.
The Brazilian firm has ambitious plans to become a large player in the private pension market.