By: Carlos Alberto Pacheco

Insurance Corp – What factors do you attribute to Brazilians’ low adherence and demand for insurance?

Tarcísio Godoy – Historically, Brazilians have not been rooted in the culture of protecting their property, exceptions made to auto and personal insurance. But I believe the main factor is still the large participation of the state as a provider of coverage to the population. Just to mention two examples, social security and the Worker Support Fund (FAT). In her inaugural speech, Susep’s new superintendent Solange Vieira addressed the issue. One of her questions, when commenting on the low penetration of insurance into society, was as follows: “Why is our largest insurer the state?” At the same time as he asked, Solange proposed the solution. “It is well known that the state interferes with the market and tends to price badly, distorting relative prices and reducing the potential for sector development. We need to reduce their participation.” Therefore, I understand that it will make the sector expand its penetration in all layers of society, making the expected quantitative leap.

IC – On the other hand, what can companies and institutions do to change the concept that insurance is acost,  noninvestment cost?

TG – Firstly, we need to invest in the creation of new products. The market needs to offer what the population wants to hire and not what companies see as the most attractive product. And to do this on a large scale, to make a mass in insurance. As a result, prizes will become more competitive. This will be a process that will feed back. At the same time, innovation must be invested in, so that new ways of thinking and marketing insurance continue to emerge. The supply by remote means also contributes to this process of democratization of the product. The understanding that insurance is an investment and not an expense will come in the wake of all this movement. It will be something naturally perceived by public opinion.

IC – A favorable regulatory environment is also conducive to the spread of the culture in this regard, isn’t it?

TG – Yes, we have to provide a favorable scenario for all these conditions to happen. Creating an environment of greater regulatory flexibility and harmony between laws and regulations with technological advances is critical. It will also greatly help in this process the investment in publicity actions, whether institutional or advertising. The population needs to know the many “invisible” benefits that the market generates for individuals, companies and the country’s economy.

IC – There is also the social role of insurance that society is unaware of ?

TG – The nature of insurance goes far beyond the protection itself, the premise of every policy. This industry is a major generator of domestic savings, as it accumulates reserves that can be the backing for large investments, public and private. It is also important to show the very high values that are returned to society with the payment of compensation. And, of course, there is the social side of insurance, which allows individuals to do personal and family planning in the medium and long term because they know that their lives and assets are protected. All of this needs to be communicated very clearly and objectively to society.

IC – What are the initiatives of the National Insurance School in this direction? Does ENS promote any initiatives specific?

TG – The School maintains the Website All About Insurance (TSS), which has consolidated itself as one of the main sources of information for insurance, capitalization, private pension and related topics. As its name suggests, the site seeks to clarify any doubts that may arise when contracting insurance. Therefore, it is widely accessed by the general public and also by journalists. In 2013, TSS received an award for its performance in favor of institutional disclosure of insurance. Since its inception, it has totaled more than 10 million clicks, and in 2018 it had about 1 million clicks.

IC – Is ENS also at the forefront in training industry professionals?

TG – The National School of Insurance promotes the training and qualification of professionals from the perspective of continuing education and acts as a true catechist of the market, bringing its educational programs to an increasing number of people, either in person or through online courses. The latter serve students anywhere in the country and abroad, especially in the so-called Lusophone countries. We are preparing many new features soon, which will further expand insurance qualification opportunities and related topics. I anticipate that one of them will be called the Knowledge Trail, being carefully crafted to become the great ally of those who want to plan every step of their careers. (cooperate Priscila Palacio)