Operating Model

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One of our main activities, as solutions provider for financial services and insurance brokerage, is our important role in defining strategies for the sale of insurance, in structuring new products and channels, as well as daily following up with the goals of our major commercial partners, Caixa Seguradora and CAIXA, in their different sales channels. Our operating model in this environment involves the following activities:

With Caixa Seguradora: we structure products, evaluate sales channels and actively participate in Caixa Seguradora’s marketing planning by discussing its business plan, budget, benchmarking, in addition to follow up reports submitted to CAIXA. Amongst other resources, we count with a marketing intelligence area with deep knowledge in managing information technology environments of great complexity (big data), by developing client segmentation studies and models of customers’ willingness to buy insurance.

With CAIXA: we operate as Caixa Seguradora’s direct seller of its products, as well as provide them with commercial support in the sales activities at CAIXA’s branches. Additionally, we count with a commercial structure for insurance sales and renewals through remote channels (call center and webchat). To assist large corporations with their needs, we count with the services of our own brokers in the Special Risks segment. Furthermore, we have the support of our backoffice structure to regulate insurance claims and assist clients.

Commercial Dynamics of Insurance Sales:

In our primary business environment, our products are divided into three categories: (i) bancassurance products; (ii) traditional products; and (iii) accumulation products. The distribution of each of those three sets of products are distinct.

Bancassurance products have more grip when offered to the client in connection to one of bank’s financial transaction (Mortgage Credit, Payroll Loans, Account Opening, among others), which occur specially within bank branches and independent bank correspondents. In this category, the purchase of the insurance is mainly connected to the offer made upon closing of a bank operation. Our such products are Mortgage, Credit Insurance, Life, Residential and Corporate Multi-Risk. In 2016, bancassurance products represented 80% of our total gross revenue.

Traditional insurance products, on another hand, rely on active sales efforts in distribution channels different from the bank branches and independent bank correspondents. In this category, the client holds the intent of acquiring any such insurance prior to his contact with the sales channel. Our such products are: Auto, Health, Special Risks, among others. In these cases, unlike of what happens in the sale of bancassurance products, we perform in alternative channels, specially through our remote channels for insurances sales and renewals. The traditional products represented 15% of our gross revenue in 2016.
The set of accumulation products is comprised of Pension Plan, Capitalization Plan and Consortiums, which are typically supplementary to financial products offered by the bank itself (investment funds, savings accounts, and others). This segment represented 5% of our 2016 result.

Last Update on March 09, 2017