Emerging Insight #:

  182

Date of Release:

  May 3, 2021

Subtopics:

  Other channels

 

ALM Seguros in Brazil partnered with a local radio station to promote and sell microinsurance

In 2016, ALM Seguros was registered as one of the first microinsurance companies in Brazil. The company is growing rapidly, and in 2018 it was the fastest growing insurer in the country.

ALM Seguros uses brokers and non-traditional channels to sell products. One channel that has proven especially successful is a local radio station “Radio Tupi” in Rio de Janeiro.

Radio Tupi’s communication method combines financial education aimed at emerging customers and the promotion of microinsurance products. The educational part includes discussions about managing personal risks, such as death, unemployment and accidents. An important part of the product promotion and education strategy is airing testimonials from customers, allowing listeners to learn about the benefits of insurance and building trust in the product.

The radio station has taken on a broader role and also sells products directly to listeners. Listeners can purchase products through a web link or by calling the station.

By combining the communication expertise of the radio station with the insurers’ experience in mass insurance sales, the partnership has enabled ALM Seguros reach a large number of people. As of 2019, ALM Seguros served approximately 250,000 clients.

Our latest Case Brief provides more details about the distribution strategy of ALM Seguros, click here to read it.