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Article: Commercial insurers enter affinity market; Latin America's economic stability spurs business.(Spotlight: Emerging Markets: Latin America)
- Article from:
- Business Insurance
- Article date:
- January 28, 2008
- Author:
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ROBERTO CENICEROS
Latin American commercial insurers and brokers are making a play for corporate customers' employees through "affinity'' strategies.
Affinity business refers to personal lines coverage distributed mainly through two channels: Coverage is sold to individual employees through employers, sometimes as a supplement to group products; or coverage is sold through other inexpensive means, such as solicitations accompanying utility bills or credit card statements, to reach large groups of consumers.
In Brazil, for example, 70% of electric bills serve as a distribution channel for ACE Seguradora S.A. products, such as personal ...