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Inclusive Insurance in Brazil

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  • 18 Pages
  • November 2022
  • Region: Brazil
  • Microinsurance Network
  • ID: 5712915

A large proportion of Brazil’s population (72%) is considered financially vulnerable. Informal workers, women, young people and those living in shanty towns represent particularly underserved segments that require greater attention from the insurance industry. 

In this context, the actions undertaken by the National Confederation of Insurance Companies (CNseg) and the Superintendency of Private Insurance (SUSEP) are important in helping both the supply and demand sides overcome challenges and barriers faced in the marketing, sales and access to microinsurance.

The impact of the government's efforts to fight poverty was counteracted by economic crises and the pandemic. Insurance can offer an alternative to improve the resilience of both the population and the state.

Table of Contents

1. Introduction

2. Context

3. Risk exposure

4. Enabling inclusive insurance market development

5. The current inclusive insurance landscape

  • Identified microinsurance coverage
  • Products
  • Distribution
  • Gender
  • Claims

6. Opportunities and challenges

  • Targeted insurance education
  • Developing innovative product offerings
  • Digitising the market
  • Fostering an inclusive insurance data ecosystem

Companies Mentioned

  • 180 Seguros
  • Azos
  • Bradesco Seguros
  • Brazilian Institute of Geography and Statistics (IBGE)
  • Central Bank of Brazil
  • CGAP (Consultative Group to Assist the Poor)
  • Claro
  • Cobli
  • Iza.com.vc.6
  • National Confederation of Insurance Companies (CNseg)
  • Oi
  • Superintendency of Private Insurance (SUSEP)
  • United Nations
  • Swiss Re
  • Vivo
  • World Bank