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Financial Times

Identity crisis: the insurers moving away from insurance

Identity crisis: the insurers moving away from insurance

Henrik Naujoks, a partner with Bain & Company, says: “They [Porto Seguro] are a high-price insurance provider, but they constantly grow market share. People like the services that they aggressively advertise. People are willing to pay the price.”

  • agosto 07, 2018
  • min read

Financial Times

Identity crisis: the insurers moving away from insurance

There is evidence that the strategy can work of pivoting away from insurance. Brazil’s Porto Seguro has spent decades building a range of services for its clients, from car parking and car repairs to plumbing for the home. The investment has paid dividends. Last year the company made R$135m ($36m) of net profits from its services businesses, against R$778m from insurance.

Henrik Naujoks, a partner with Bain & Company, says: “They [Porto Seguro] are a high-price insurance provider, but they constantly grow market share. People like the services that they aggressively advertise. People are willing to pay the price.”

Read full article on the Financial Times here.