Insurance in Brazil Emerging Consumption Needs Analysis

Impact of Behavior Changes

Ongoing behavior changes among customers are significantly impacting the Brazilian insurance value chain in 2024 and 2025, influencing various stages from product development to claims management. The increasing adoption of digital channels by B2C customers, evidenced by the high number of active app users for companies like Porto Seguro, is shifting the Marketing & Distribution and Policy Administration & Customer Service stages towards requiring more robust digital infrastructure and self-service options. This digital preference also extends to Claims Management, with customers expecting digital avenues for reporting and tracking claims.

A notable shift in demand is the growing interest in specific insurance products. The rise in VGBL products in 2024 indicates that individual customers are increasingly using life insurance for financial planning and long-term protection. Concurrently, B2B customers are showing increased awareness and demand for Civil Liability insurance, anticipating continued strong growth in this segment driven by regulatory environments and risk understanding. These changes directly influence the Product Development & Underwriting and Marketing & Distribution stages, requiring insurers to develop tailored products and utilize effective channels to reach these specific customer segments.

Evolving customer expectations regarding service quality are placing pressure on the Policy Administration & Customer Service and Claims Management stages. Customers are more vocal about their experiences and demand efficient, transparent, and satisfactory resolution of issues, as highlighted by the focus on reducing complaints. The ability of insurers to effectively handle claims, particularly in the face of increasing climate events, is becoming a critical factor in customer satisfaction and reinforces the importance of efficient Claims Management processes and coordination with service providers and reinsurers. The increasing use of multiple distribution channels by customers necessitates seamless integration and consistent service delivery across all touchpoints within the Marketing & Distribution and Policy Administration & Customer Service stages.

These behavioral shifts collectively point to a customer base that is more informed, digitally adept, and demanding of personalized products and high-quality service throughout their insurance journey.

Emerging Consumption Needs

Based on the analysis of behavior changes and market dynamics in the Brazilian insurance sector during 2024 and 2025, several emerging consumption needs are becoming apparent:

• Convenient and Seamless Digital Interaction: Customers require easy-to-use digital platforms and mobile applications for purchasing policies, managing existing ones, making payments, and filing and tracking claims. This includes a demand for self-service options and readily available digital support.
• Tailored and Flexible Protection Solutions: Beyond traditional broad coverage, there is an emerging need for insurance products that address specific life stages, financial goals (like long-term savings through VGBL), and evolving business risks (such as increased demand for Civil Liability). There is also a growing interest in flexible, short-term coverage options, particularly in the car insurance market.
• Transparent and Responsive Service: Customers expect clear communication regarding policy terms, premium calculations, and, crucially, the claims process. They demand faster response times and proactive communication throughout their interaction with the insurer, especially during claim handling.
• Integrated Service Ecosystems: Customers are increasingly interested in insurers offering a broader range of services beyond just the insurance policy, potentially bundling insurance with other financial or related services for convenience and potential cost savings.
• Reliable Support During Critical Events: With the increasing frequency of extreme weather events, there is a heightened need for insurers to provide timely, empathetic, and effective support and claims processing for losses related to natural disasters.
• Accessible Insurance Options: The legalization and regulation of mutual societies and the broadened scope of insurance cooperatives are poised to increase financial inclusion and offer insurance options to segments of the population previously underserved., This suggests an emerging need for more accessible and potentially more affordable insurance products.

Emerging Consumption Need	Potential Impact on Value Chain Stage(s)	Potential Impact on Industry Players
Convenient & Seamless Digital Interaction	Marketing & Distribution, Policy Administration & Customer Service, Claims Management	Increased investment in digital platforms, mobile apps, and online customer support. Development of user-friendly interfaces.
Tailored & Flexible Protection Solutions	Product Development & Underwriting, Marketing & Distribution	Development of more granular and customizable policy options. Creation of bundled products. Utilization of data analytics for personalized offerings.
Transparent & Responsive Service	Policy Administration & Customer Service, Claims Management	Improvement of communication channels and protocols. Streamlining of claims processing workflows. Investment in customer relationship management (CRM) systems.
Integrated Service Ecosystems	Product Development & Underwriting, Marketing & Distribution, Policy Administration & Customer Service	Development of partnerships with service providers and other financial institutions. Expansion of product portfolios beyond core insurance.
Reliable Support During Critical Events	Claims Management, Product Development & Underwriting	Enhancement of catastrophe response plans. Development of specific products or riders for climate-related risks. Improved coordination with loss adjusters and service providers.
Accessible Insurance Options	Product Development & Underwriting, Marketing & Distribution	Development of simpler, more affordable products. Utilization of new distribution channels like cooperatives. Focus on financial education and inclusion.

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