This includes individual life insurance policies offered to CAIXA´s clients through its branches. It is currently our most important product in terms of revenue. Life Insurance is extremely important in the bancassurance model, and we believe that it has great potential for growth among CAIXA‘s client base. The sale of life insurance is suited to using bancassurance channel mainly due to: (i) the simplicity of the product, (ii) agility at the time of the sale, as well as convenient payment through automatic debiting from client‘s bank accounts.
Life Insurance is divided into two main segments:
Individuals: Offered directly throughout the entire branch network of CAIXA´s checking and savings account holders. The main product in this segment is ‘Vida da Gente’, which provides coverage for death by natural causes and accidents, and offers benefits including monthly raffles, a Home Check-up program, and funeral assistance. Other products for individuals include ‘Amparo’ insurance, which is sold exclusively through lottery outlets and independent banking agents.
Corporate: Offered to CAIXA’s corporate client base, which mainly comprises small and medium-sized companies. The main product in the segment is ‘Vida Empresarial’, which provides simplified coverage and benefits, in line with the profile of CAIXA´s clients.