Ana Carolina Mello*

It isn’t new that the pandemic and quarantine have increased the volume of electronic commerce in Brazil by a great deal. According to the Movimento Compre & Confie, the growth of Brazilian e-commerce in the first eight months of 2020 was 56.8% compared to the same period in 2019.
The insurance market shouldn’t be different, but, unfortunately, still finds it difficult to take advantage of changing consumer behavior, attract over new incoming and improve operational efficiency. Part of the difficulty is in the old insurance systems, the difficulty in replacing them and the time and cost of this demand. After all, navigating the digital world requires cutting edge technology, quick solutions and flexibility.
An increasingly frequent option in the world market are insurance companies that combine their “legacy” systems with other digital systems and platforms. It is no different in Brazil. And, in recent years, companies have appeared here that help to leverage this movement and place insurance companies in the digital world. Innovation will come from the market not only from insurtechs. Insurers have a lot of knowledge, human capital and a willingness to change.
To act digitally, it is necessary to experiment, test, correct and adapt. Therefore, starting early is a differentiator and the insurers that are operating, even in the initial phase, started ahead. They are already learning how their customers compare, decide and buy. Some, for example, are venturing into “Legal Design” or “Visual Law” clauses – a more transparent and objective form of communication to the policyholders. Others have already discovered the advantages of personifying the product offering. And everyone, for sure, already knows that being digital is much more than selling online.

Ana Carolina Mello is a partner-owner of the startup Safe2Go. Graduated and post-graduated in Business Administration from West Texas A&M University and University of São Paulo