Paris, 12 november 2013
On 22 October 2013, a report on the micro-insurance industry in Brazilian business newspaper Valor Econômico confirmed the market leadership of Caixa Seguros, CNP Assurances’s Brazilian subsidiary.
Easy to purchase and with affordable premiums, micro-insurance policies are designed to preserve the socio-economic situation of low-income individuals. According to Valor, the micro-insurance market and its 100 million potential clients are currently a major focus of Brazilian insurance companies. With its 95% market share, Caixa Seguros has a considerable head start in this business, which is both highly promising and socially beneficial. Caixa Seguros’s flagship micro-insurance product is the Amparo policy, whose sales are now ramping up to a targeted 100,000 a month. For just BRL 2.50 (less than €1) a month, Amparo offers broad coverage in the event the family breadwinner dies, causing an abrupt loss of revenue. For example, it covers the cost of the funeral, along with comprehensive support services, and the payment of a cash allowance and food aid for three months.