Working in an under-explored segment, PASI stands out and expands the popular insurance market

By: Priscila Palacio

In the late 1980s, Alaor Silva Junior, a young insurance broker from Minas Gerais, sought new markets and saw an opportunity, even in the face of the unfavorable economic scenario and social problems, especially in the construction sector. During this period, Silva Junior found that there was a large mass of Brazilians made up of workers and workers belonging to the less favored social classes, practically excluded from the insurance market.

Because of the manifestations of dissatisfaction and difficulties in the relationship between capital and work, the idea of social insurance for the middle and lower income classes fit perfectly into the project under development.

After consulting several business segments and class entities, he realized that the product would be unique in the market: group life insurance, which prioritized the social and at the same time, became an important tool used by companies to meet the needs of their employees. This was how the PASI (Immediate Social Assistance Plan) was born.

The product was able to democratize the life insurance that until then was the privilege of the higher classes. In the first year of existence, the insurance was adopted by civil construction in Minas Gerais, helping and providing coverage for thousands of workers in this sector and their families.

After approval of the project by Sinduscon MG (Civil Construction Trade Union), the PASI product achieved tremendous growth and success in the market, expanding to other states and activities of the economy.

Pioneer and innovator

It is the group life insurance best known and recommended in the segment that has acted, being accepted at the national level, by protecting formally hired workers, under legally established schemes,

as well as the outsourced.

Its objective is to promote the inclusion of 100 million Brazilians in this branch of insurance and be a reference, causing new trends for the insurance market;

Promote and stimulate the advance of the security protection in the population directly or indirectly stimulating the whole market in this way.

Today it is recognized as the country’s first popular insurance. Revolutionized the national market, because it was conceived with unprecedented coverages such as: food aid in case of death of the holder; indemnification for the birth of children with congenital disease; reimbursement to the company of expenses with labor termination; coverage that anticipates the indemnity in case of professional illness acquired in the exercise of the profession and the birth basket and the birth bonus.

Silva Junior, attributes the success of the PASI model mainly to its essence, which is embodied by the philosophy of its development, which is to attend exclusively to workers and their families belonging to low and middle income classes in Brazil. He points out that the model was born and evolved on a platform institutional and operational capacity that allowed, in addition to its sustainability, to offer social, economic and financial instruments for workers, companies, class entities, insurance brokers and the guaranteeing insurer,currently in MetLife. “In its historic conception, it was able, in a dynamic and unprecedented way, to materialize particularities and peculiarities linked to the innovative coverage that charmed people and companies that experience it. We are always attentive to the repressed demands that we identify with our target audience, “he says.

Technology is an ally

Targeting the consumer of the future, they have invested in technology trends to assist the broker. For this, it has invested in the tools available on the site, to streamline operations. Among the main innovations is the operation of the management, scanning and automation processes. The use of robots is also part of the processes. One of the recent technological improvements is linked to the process of joining the portal. The old process is still valid and now the broker also counts on the Web Membership.

PASI’s technological structure includes 100% of the documents scanned and integrated into the contracts, allows express quotation, automatic renewal, online claims follow-up, second automatic invoice, WhatsApp service, spreadsheet converter for group invoicing, automatic invoicing via -mail, among others.

New products

The products are structured according to the needs of the companies and class entities, always with focus

in meeting the demands of the category workers. The main products are developed to meet the requirements of collective bargaining agreements, regional coverage, insurance for interns of any category, as contemplated in the law and Agrovida, aimed at the field worker.

The novelty of the portfolio is PASI Trainee Insurance, aimed at any type of company and young students starting their professional careers. It is a personal accident insurance exclusively for trainees hired 100% online. In addition to offering the basic coverage required by the legislation, it has great differentials when it provides the coverage of the Temporary Disability Accident Disability, the Funeral Assistance in the event of Death, besides social, psychological and nutritional assistance.

Fabiana Resende comments on the launch of new products: “Our bet is on the launch of products

Simplified and fully digital. In the first half of this year, we will launch a product for a category of workers not yet covered by protection. We will also have our first experience with an individual product this year.

We have just launched the PASI GOLD, which is different in meeting capital of up to 1 million reais, “he explains.

Recognition

The PASI trajectory is marked by achievements, awards and citations in reports and studies of important national and international commissions and councils.

Received from the ANSP (National Academy of Insurance and Social Security), the award for Best National Social Security;

It is cited as a successful model of microinsurance in the International Report on Microinsurance in Brazil, carried out by CENFRI – Center for Regulation and Financial Inclusion.

For the Susep is recognized as pioneer in the category of microinsurance and pioneer in its segment of action and a national model case to be followed.

In the report by ENS (National School of Insurance) on products from the private sector, correlated with microinsurance, PASI is dedicated to a chapter among the existing programs.

The president, Alaor Silva Júnior, was awarded the Honorary Citizen Title of Belo Horizonte, by decision of the City Council. The title is the recognition of the work that develops with the brokers, entities, businessmen, workers in Minas Gerais and Brazil.

Silva Júnior comments on the satisfaction of obtaining market recognition: “Our initiative was successful and we were recognized in studies and reports as a model of life insurance and collective accidents.” It is a tremendous responsibility for him to continue the mission that began in June 1989 and which today inspires other insurers.

“With such responsibility we must always be vigilant so that our mission is continued through technical, financial, commercial and operational management. PASI was born protecting only 9,250 direct insureds. Currently the market is already registering numerous insurers that have become followers of our model that, sure, protect millions and millions of policyholders through similar plans offered in the market. It is gratifying to note that our work format, can directly and indirectly protect more than 100 million people insured, “he emphasizes.

Current overview

• 25,800 customer companies

• 96,000 contracts already in place

• 2,500,000 policyholders (holders and dependents)

• Indemnified amounts already exceed R$ 280 million

• More than 41,300 indemnities effected

• 6,000 Insurance Brokers registered nationwide

• Present in the 27 Federative Units

• Partnership with more than 300 class entities

• 19,200 Christmas Baskets Delivered

Regional activity

Beatriz Abadia (photo), PASI’s Insurance regional manager is responsible for the São Paulo office and responds to the needs of brokers in the states of São Paulo, Goiás, Mato Grosso, Mato Grosso do Sul and Brasília. Its mission is to offer support and expand the customer base and develop the business, supporting the brokers that offer the products, the new business with the unions and companies.

Beatriz reveals that this year the group will invest in the expansion of the regional structure and in the way of acting with brokers. She estimates that the broker values the quality of care and stresses that this is a decisive factor in building a solid and long-term portfolio. “The broker seeks a personalized service. PASI watches over quality and personal treatment. Anyone who contacts our office will know exactly who to talk to. This is our great differential. In this way, we have the confidence and respect in these 30 years of activities and, above all, help the broker build a sustainable portfolio.”