The Brazilian economic scenario has faced critical challenges in recent years, with alarming levels of indebtedness and default among consumers. According to recent data from Serasa Experian, more than 72 million Brazilians are in debt with some type of overdue payment, what represents about seven in every ten families. Projections of the National Confederation of Trade in Goods, Services and Tourism (CNC) indicate that the level of indebtedness is expected to rise in the coming months, reaching 79,9% in December 2024. Furthermore, about 8,6 million people are out of the labor market, intensifying the financial difficulties of families
In this context, financial protection insurance emerges as a solution to protect buyers against unforeseen events and economic difficulties caused by loss of income. In addition to expanding the supply to meet a growing demand, a financial protection service — also called borrower insurance — brings various benefits to retailers, including customer loyalty and the opportunity to generate additional revenue
Greater credibility
It is undeniable that consumers are becoming increasingly demanding when it comes to choosing products and services. They seek not only quality, but also brands that truly meet your needs and offer real value. By providing a comprehensive solution that ensures compliance with financial obligations even in the face of adverse situations, the store demonstrates commitment to the safety and well-being of its customers. This helps attract new audiences, in addition to strengthening the loyalty of those who already know the brand by taking care of what is important to them
Market spread
In an increasingly saturated market, offering financial protection insurance can be an excellent competitive advantage. Retailers who see beyond the obvious and identify the real needs of consumers have the chance to expand their portfolio with relevant solutions, especially in the current economic scenario
These insurances guarantee the partial or total payment of the insured's debts in situations such as loss of income due to involuntary unemployment, temporary physical incapacity, hospitalization due to accident, accidental death, among others. Furthermore, they can provide benefits such as agility in service, what contributes to improving the customer experience and strengthening the retailer's position in the market
Increase in sales
Financial protection insurance can also generate a significant source of additional revenue for the retailer, reaching a diverse audience, both CLT workers and freelancers, liberal professionals and public employees. When offering these products, it is possible to increase the average sales ticket or even turn visitors who initially have no intention of buying into consumers, strengthening the efficiency and success of the sales strategy
