Insurance leaders assess sector’s prospects and highlight FIDES Rio 2023 Conference

The president of the Brazilian Confederation of Insurers (CNseg), Dyogo Oliveira, gave the opening remarks at an end-of-year lunch attended by more than 200 insurance industry leaders. He said that his work at CNseg is focused on “bringing insurance into people’s everyday lives, promoting the sector and democratizing access to it.” The event, held at the Copacabana Palace Hotel in Rio de Janeiro on December 8, took place as part of preparations for the FIDES Rio 2023 Conference. It was attended by the president of the Inter-American Federation of Insurance Companies (FIDES), Rodrigo Bedoya.

Edson Franco, Fenaprevi; Rodrigo Bedoya, FIDES; Alexandre Camillo, Susep; Dyogo Oliveira, CNseg, at insurance industry leaders lunch in Brazil

Oliveira emphasized CNseg’s strategic repositioning in the institutional and communication areas, aimed at bringing the subject of insurance closer to people’s everyday lives. “Between May and November 2022, the media published 3,100 articles about insurance, up nearly 20% from the same period of 2021. These articles involved strategic topics such as products, regulation, mass insurance policies, growth projections, success stories and consumer demands,” he said. “Whenever there is an opportunity to promote insurance, we will take it.”

FIDES RIO 2023

FIDES’ 38th Western Hemisphere Insurance Conference will take place in Rio de Janeiro between September 24 and 26, featuring insurance market representatives from throughout Latin America, as well as the United States and Spain. Oliveira said it will be an invaluable moment to establish business connections, update knowledge and do business.

“This event will be held in person once again. FIDES is a large business platform that facilitates business deals with the biggest insurers and reinsurers in Brazil and the rest of Latin America. We expect there will be more than 1,500 participants. FIDES Rio 2023’s agenda is aligned with CNseg’s guidelines of promoting the sector’s institutional image, stimulating its development and encouraging the exchange of information between regional markets,” Oliveira said.

Latin American insurance industry’s response capacity

The president of the Inter-American Federation of Insurance Companies (FIDES), Rodrigo Bedoya, was the lunch’s international guest. He provided some more details about FIDES Rio 2023, which he said will be “very special,” given the importance of the Brazilian insurance market. He noted that at the last conference, held in 2019, in Bolivia, people couldn’t yet imagine the full impact of the pandemic, but since then the Latin American insurance sector has demonstrated its capacity to respond in a robust and compassionate way.

Insurance for everything and everyone

Oliveira also listed some deliveries in the 226 days since he was appointed, including an institutional campaign called “Insurance for Everything and Everyone,” which has already reached 188 million Brazilians with an inclusive message regarding insurance. He noted that the insurance sector pays out almost R$500 billion in claims, benefits and redemptions to society every year, employs around 250,000 people, pays more than R$60 billion in tax, finances 23.4% of the public sector debt in its role of institutional investor, and has financial assets of approximately R$1.7 trillion.

The president of CNseg also mentioned a list of 31 proposed measures to boost the development of Brazil and the country’s insurance sector, submitted to this year’s presidential candidates; the creation of an insurance market working group in partnership with the Economy Ministry to discuss measures to support the insurance sector with industry representatives; and the “open insurance” scheme, which will enable customers to authorize insurers to share their data, bringing new advances to the insurance market.