BB Seguridade operates mainly through a model known as bancassurance, which comprises the partnership or relationship between a bank and an insurance company to distribute insurance, pension plans, premium bonds and dental care plan products through the banking channel.
In BB Seguridade’s case, its affiliates’ insurances, pension plans, premium bonds and dental care plans sales takes place mainly via Banco do Brasil channels, a network with national capillarity that covers more than 60,000 service points (agencies, service stations and correspondents), as well as digital channels such as internet and the mobile app.
The distribution of these products at Banco do Brasil is brokered by BB Corretora. This relationship between the parties is governed by a 20-year term agreement firmed in 2013.
This comprehensive distribution model coupled with long-term partnerships with private companies that hold massive expertise in insurances, pension plans, premium bonds and dental care plans operations which enables its affiliates to maintain complete and high quality products portfolios are BB Seguridade’s main competitive advantages.
With more than 200 years of tradition, Banco do Brasil is one of the most known and valuable brands in the country and occupies a prominent position in the Brazilian banking industry according to several criteria. Thus BB Seguridade benefits from the association with Banco do Brasil brand, a fact that conveys the same qualities perceived by the public regarding the financial institution, such as: solidity, tradition and reliability.
The company believes that such attributes, highly valued by customers seeking to secure their assets, their future and their families also contribute to BB Seguridade's product distribution strategy, especially in life and pension plans segments.
Updated on June 1, 2020.