• Bancassurance is the main distribution channel for the Brazilian life insurance segment
  • Due to an extensive distr ibut ion mechanism through the branch network, banks are well placed to cater to this demand for investment products. The value of new business gross written premium generated through bancassurance increased from
    BRL11.4bn ($4.03bn) in 2009 to BRL20.3bn in 2013, with this projected to reach BRL35.1bn by 2018.
  • In 2013, brokers followed bancassurance in terms of new business gross written premium registered by the life segment. They are one of Brazil’s most important distribution channels. Allianz Brazil and Porto Seguro, for instance, had around 16,000 brokers and over 20,000 brokers respectively as of 2014, with the country’s regulations being biased towards them.
  • The number of new policies sold through brokers increased from 1.3m in 2009 to 2.2m in 2012, with this number expected to increase to 3.6m by 2018.
  • Other important distribution channels employed by insurers are retail stores and dealers.
  • Other insurers have been more innovative; Caixa Seguros, for example, distributes its micro-insurance product (Amparo insurance) through the lottery network, and some insurers are entering into agreements with large retailers for distribution.
  • The main direct marketing channels employed by insurers are direct mail, call centres and office branches; SulAmerica’s call centre at its head office in Rio de Janeiro had 985 operators in 2012.
  • The value of new business gross written premium generated through direct marketing increased from BRL2.2bn in 2009 to BRL3.7 bn in 2013
  • The use of e-commerce channels, such as online aggregrators is on the rise in Brazil


US life market

  • The US life segment is one of most mature and highly competitive in the world, with most life insurers using a variety of distribution channels to remain competitive


  • Agencies were the largest distribution channel for the life segment in the US. The channel accounted for 53.4% of the segment’s new business gross written premium in 2013, which is expected to grow to 53.5% by 2018.


  • Convincing a consumer to purchase a new product from a different insurer requires a range of agency networks, as the majority of US citizens still prefer personal interaction when purchasing a policy.


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  • Agencies are expected to maintain their dominance in the US life market as the new business gross written premium is projected to reach US$59.8bn by 2018


  • The number of new policies sold by insurance brokers in the US increased from 20.3m in 2009 to 22.3m in 2013. This number is expected to increase to 24.4m in 2018, registering a CAGR of 1.8%.


  • E-commerce’s share of the new business gross written premium in the US reached 1.7% in 2013, and is expected toincrease to 1.8% in 2018.
  • The growth of e-commerce was primarily attributed to the rise in the number of internet subscribers in the country, which rose from 217.8m in 2009 to 265.3m in 2013, and is expected to reach 308.7m in 2018.


  • Other distribution channels in the US included mobile web and shopping malls. Selling insurance products through mobile channels is expected to further strengthen business for insurers, as 55% of the US population had mobile internet access as of January 2014.