Arquivos Corporate benefits and insurance management - Pryor Global

Seguro de vida será promissor em 2023?

prylocawp23 prylocawp23 — Wed, 22 Feb 2023 19:34:47 +0000

The economic and geopolitical context is giving rise to new risks, which are increasingly serious and of different natures: climatic, with natural disasters; cyber, such as the data leaks; geopolitical, with the ongoing war between Russia and Ukraine; and economic, in the context of rising inflation and interest rates.

In contrast, we have a post-pandemic economic recovery scenario and the advance of the vaccination against the new coronavirus. Life seems to be back on track at last, but not in the same way as before. There is a new awareness of the need to anticipate and guard against such traumatic events as the pandemic and its consequences, and of the risks that plague our society.

It is in this context that the insurance market stands out. In Brazil, according to a survey conducted by the National Confederation of Insurance Companies (CNSeg), the contracting of life insurance policies may grow by up to 10% this year. This forecast is a result of both the concern mentioned above and the modernization of the insurance industry to reach new audiences and offer better services.

What to expect from the insurance market in 2023?

The pandemic effect was important for the insurance industry, as it anticipated the use of technology and innovation in daily activities. In addition to being increasingly present in the digital environment, insurers are now implementing management tools that allow them to make decisions based on data, which makes it possible to reach out more assertively to potential customers.

This means that insurers have a better idea of the policyholders and their main needs. Profile analysis and customized quotes, for example, are already a reality in some cases.

Through increasingly automated systems, it is possible to optimize processes, something policyholders tend to worry about when taking out any type of insurance. Cloud computing provides insurers with a digital infrastructure that increases their operational agility and ability to innovate. This leads to faster responses to customer demands and enables faster and more efficient communication.

Even the ESG issue has been in the insurance industry’s sights. Some insurers are incorporating Environmental, Social, and Corporate Governance factors into their strategy, positioning themselves as important players when it comes to sustainability.

Here at Pryor Global, we are also always innovating and seeking the best products for our clients. Through our Benefits Management and Corporate Insurance department and in partnership with the best insurance companies and brokers in the country, we analyze the particularities of each case and offer a unique solution.

Come and get to know our services! Schedule a conversation with our specialists right now.

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Segurança digital: o que esperar dos próximos anos?

prylocawp23 prylocawp23 — Thu, 26 Jan 2023 12:50:24 +0000

The last year was challenging for all companies in terms of digital security, with several data breaches, cases of fraud, cyberattacks, and system vulnerabilities, putting both institutions and individuals at risk. To get an idea, in the last quarter of 2022, Brazil saw a 37% increase in the number of cyberattacks, according to research by Check Point Software.

Threats to digital security have existed since the birth of the internet. While we have made considerable progress in combating them, these threats are still lurking. As cybercrime evolves, so does cybersecurity, and methods of prevention must therefore be adapted.

The fight for cybersecurity must be a constant battle.

The “old” attacks will continue to be effective sources of revenue for cybercriminals: compromised email boxes, attacks aimed at data theft, ransomware, and phishing. And with good reason, new failures in cybersecurity systems are inevitable and the human factor remains part of the equation.

Cybercriminals are now using advanced tools based on Artificial Intelligence (AI), Machine Learning (ML), and automation. They are training neural networks to fool predictive algorithms that have been used to modify malicious files, allowing them to bypass system defenses.

However, these same tools can also serve the purpose of cybersecurity. One of the many possibilities is to begin automating AI-based security controls and response mechanisms, enabling faster and more accurate responses to cyberattacks, and protecting critical data for businesses and individuals.

Just as the method has been refined, the scope of cyberattacks has broadened. Russia’s offensives against Ukraine, for example, have made it clear that warfare is now hybrid and that the risks of geopolitically motivated cyberattacks are a reality. Geopolitical attacks on cybersecurity will increase, but they will also lead to defense innovation.

To combat cyber threats, it is necessary to focus not only on technology but also and especially on people and their behavior. People are the biggest risk in terms of cybersecurity, largely because of a lack of awareness, negligence, or inadequate access controls.

An effective approach to cyber security is to put together a strategy focused on prevention, creating smart solutions that aim to prevent cyberattacks. Similarly, taking out a cyber insurance policy is one way to safeguard a company.

Pryor Global, through its Corporate Benefits and Insurance Management, offers the best products in the market so that managers have the necessary security to perform their daily activities.

Learn how we can help protect you and your company and talk to one of our specialists.

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Programas Mundiais de Seguros oferecem vantagens para empresas multinacionais

prylocawp23 prylocawp23 — Thu, 29 Dec 2022 17:11:05 +0000

While internationalization is an important step in the growth strategy of companies, it also presents new challenges: as soon as they establish themselves in the new territory, they are subject to the country’s regulations: legal obligations differ from one place to another, and therefore it is necessary to adapt to several different legislations.

In this scenario, one of the main concerns of managers is to control the risks to which the company is exposed to ensure its operation and, above all, its long-term survival. To do this, they end up hiring insurance that often ends up not being adequate to their culture and/or geographical location, for example.

Depending on the size and complexity of the company, the coverage taken out in the various international locations where it is present may differ significantly from the home country coverage. Another country means another language, but also different insurance market practices and legal requirements. It is in this context that the Global Insurance Program emerged.

If a US company has a subsidiary in Brazil, for example, should it take out its own insurance or should the parent company’s coverage be extended to the subsidiary? In the latter case, the company can opt to be part of a Global Insurance Program. Thus, coverage will be developed from the United States for the entire group and a policy will be issued for the subsidiary’s country.

The differential of this type of coverage is that the specific needs and legal requirements of each country are respected. It is worth noting that it is not always possible to assign a team to study the regulations of the subsidiary’s country. Through a technical and experienced team, the Global Insurance Program offers peace of mind to perform the company’s activities, focusing on the core business, and avoiding exposure to risks.

By choosing to be part of a Global Insurance Program, specialists work out the best strategy for your company and come up with a global solution according to your requirements. This is, therefore, the ideal solution for those who are seeking the internationalization of their business.

Pryor Global, attentive to the news in the insurance market, can support its clients with the possibility of participating in a Global Insurance Program. Therefore, multinational companies can count on security to operate in other countries, with the support of teams with expertise in the different legislations.

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Seguro de crédito em tempos de instabilidade econômica

prylocawp23 prylocawp23 — Fri, 25 Nov 2022 14:42:52 +0000

It is important to have alternatives to mitigate risks for your business. In this context, trade credit insurance can be the best choice.

Since 2020, the world has been experiencing an unprecedented situation. The covid-19 pandemic, which continues to alarm the population – as indicators have risen again in Europe, indicating a global trend – has resulted in impacts in the most diverse sectors, especially in the economy.

In 2020, the first year of the health crisis, the Brazilian economy contracted by 3.9%. Although, in general, the country managed to overcome the negative expectations around the GDP (Gross Domestic Product) growth – with an advance of 4.6% in the following year -, there is still much to be done to effectively get out of the situation of economic insecurity.

The president-elect, Luiz Inácio Lula da Silva, has already signaled the fiscal measures he intends to adopt and left the market astonished with the possibility of a PEC (Proposal of Constitutional Amendment) to leave out of the spending cap of approximately R$175 billion reais. Therefore, the expectation is that the BC (Central Bank) will increase the Selic rate considering a potential fiscal worsening.

The fear of an increase in the interest rate, as well as an inflationary risk, may reflect negatively on the growing expectation of the Brazilian economy. In times of insecurity, it is important to count on alternatives to mitigate risks for your business. In this context, trade credit insurance may be the best choice.

Trade credit insurance in times of economic uncertainty

Companies have trade credit insurance to protect themselves against the risk of non-payment when selling goods and services on credit terms. If a customer (debtor) does not pay within the agreed time and has complied with the terms of the policy, the insured company (creditor) files a claim with the insurer to obtain payment.

Credit insurance can and should be contracted by companies that export and want to protect their cash flow. For example, the coverage can provide assurance about an international customer’s ability to pay due to trade and political instabilities. Take for example the war between Russia and Ukraine and the economic risks that the situation poses.

This type of insurance protects your business from risks that are beyond your control. As well as minimizing the chance of default, it gives you the confidence to extend credit to new customers and improves access to finance, often at lower rates. Therefore, your company can become more competitive in the market.

With default rate breaking records in Brazil, with 68.4 million people in this situation, according to data from Serasa Experian, preventing your business from potential losses is better than waiting for the situation to improve.

Want to know more about trade credit insurance? Talk to Pryor Global. We are committed to providing our clients with the best products available on the market. Our experts are ready to discuss the benefits of the insurance products we offer.

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Seguro de crédito em tempos de instabilidade econômica

prylocawp23 prylocawp23 — Tue, 22 Nov 2022 17:35:45 +0000

It is important to have alternatives to mitigate risks for your business. In this context, trade credit insurance can be the best choice.

Trade credit insurance in times of economic uncertainty

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Cresce demanda pelo seguro D&O

prylocawp23 prylocawp23 — Mon, 12 Sep 2022 20:56:38 +0000

D&O insurance meets different legal needs and protects company executives in case of a lawsuit for an act committed in the course of their duties

Recent data released by the Superintendence of Private Insurance (Susep) shows an increase in demand for the so-called D&O (Directors and Officers) insurance. The growth was 25% when comparing the years 2020 and 2021, with an increase in the collection from BRL969 million to BRL1.290 billion the following year.

In fact, this is a global trend. A report published by the consultancy Next Move Strategy identified that the global D&O insurance market generated USD 21.70 billion in 2020, and is expected to reach USD 53.76 billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 11.7% from 2021 to 2030.

What is the reason for this increase? One of the hypotheses, and perhaps the strongest, is the entry into force of the Brazilian General Data Protection Regulation (GDPR), which regulates the treatment of personal data. It is worth mentioning that fines for violations of the law are already being applied to the companies that have incurred in the misuse and leakage of personal data, for example.

Among other things, GDPR provides for a fine of up to 2% (two percent) of the turnover of the private legal entity, group, or conglomerate in Brazil in its last fiscal year, excluding taxes, limited to a total of BRL 50,000,000.00 (fifty million reais) per violation. The potential financial damage for companies that incur in acts against the law can ruin a business. It is in this context that taking out D&O insurance comes in handy.

D&O insurance meets different legal needs and protects company executives in case of a lawsuit for an act committed in the course of their duties, such as an investigation due to accounting irregularities and/or fraud. However, D&O insurance does not cover any expenses that occur due to criminal activities, intentional wrongdoing, and punitive damages.

Regarding GDPR, such insurance can protect the personal financial assets of executives who are being prosecuted in cases of non-compliance with the law. After all, risks can affect both the assets of companies and their executives.

At Pryor Global, our clients have access to a wide range of business insurances. We are always aware of what is happening in the market, honoring our commitment to offering the best products and services. Contact us!

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ANS amplia cobertura para tratamento de transtornos globais do desenvolvimento

prylocawp23 prylocawp23 — Thu, 04 Aug 2022 12:42:54 +0000

Autism is included in the list

On June 23, the Collegiate Board of Directors of the National Supplementary Health Agency (ANS) approved a normative that guarantees the expansion of the rules for health insurance coverage for patients with Global Developmental Disorders (GDD) (ICD F84), among which is the Autism Spectrum Disorder (ASD).

The measure went into effect on July 1, making coverage mandatory for any method or technique indicated by the attending physician for treating the patient affected by one of the developmental disorders.

“§ 4 For the coverage of procedures involving the treatment/management of beneficiaries with global development disorders, including autism spectrum disorder, the operator must offer care by a provider able to perform the method or technique indicated by the attending physician to treat the patient’s disease or condition.”

Global Developmental Disorders refer to a group of disorders characterized by delays in the development of socialization and communication skills. Parents may notice the symptoms as early as infancy, although the common age of onset is before age 3.

According to data from the Center of Diseases Control and Prevention (CDC), it is estimated that up to 2% of the world population has autism; in Brazil, the number of people affected reaches 2 million.

According to Paulo Rebello, president-director of ANS (…) “the technical discussions about therapies for treating the Autism Spectrum Disorder were already happening internally, in a Working Group created in 2021 and formed by representatives from four of the five directorates of the Agency.”

Besides the expansion of coverage, the new normative also adjusted annex II of the list so that the unlimited sessions with speech therapists, psychologists, occupational therapists, and physical therapists encompass all global development disorders.

It is worth noting that the abovementioned working group will continue to monitor and evaluate the question in order to propose improvements in the coverage of health plans.

More details can be found in the video of the 14th ANS Collegiate Board of Directors Meeting, in Technical Note No. 1 and in the Explanatory Memorandum.

Here at Pryor Global, we offer our clients the best products in the corporate benefits and insurance market. We are always aware of the changes in legislation, ensuring solutions of excellence and a unique portfolio.

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ANS aprova reajuste de 15,5% nos planos de saúde

prylocawp23 prylocawp23 — Tue, 05 Jul 2022 13:18:35 +0000

This is the largest increase since the historical series began, in 2000

The National Health Agency (ANS) approved 15.5% increase in individual and family health plans. The readjustment applies to all regulated medical-hospital plans, that is, those contracted as of January 1999 or adapted to Law No. 9,656/98. The decision was taken on May 26th, with consideration by the Ministry of Economy and approval by the Collegiate Board of Directors.

This is the largest increase since the historical series began, in 2000, surpassing the 13.57% in 2016. The calculation considered changes in healthcare expenses and the IPCA (Extended National Consumer Price Index). According to the most recent information, Brazil has almost 50 million health plan beneficiaries. The new changes are expected to affect around 8 million of them.

The readjustment will be applied to plans with anniversary date of the contract between May this year and April 2023. The 15.5% percentage is the maximum amount that can be applied.

It is worth remembering that health plans were readjusted with a negative percentage in 2021 for the first time in history (-8.19%), resulting in a decrease in the value of monthly fees between May of that year and April 2022. There was a decrease in the number of procedures scheduled, such as consultations, exams, and surgeries, in 2020, the year of the pandemic, as a result of the protective measures adopted to prevent the spread of covid-19.

Therefore, it is possible to conclude that the accumulated readjustment of 15.5% this year and the readjustment of -8.19% last year is equivalent to an annual increase of 2.97% in these two years of pandemic.

Beneficiaries must pay attention to the information contained in the payment slip and verify 1) if the 15.5% increase is being respected and 2) if it is being charged from the anniversary date of the contract. When verifying any irregularity, it is possible to contact ANS by telephone (0800 701 9656) or at the website: http://www.gov.br/ans.

Beneficiaries who want to change their health plan can carry out the portability to another operator. For this, they must consult the ANS Guide to make the appropriate comparisons.

For the best corporate benefits and insurance for your employees, count on the support of Pryor Global. Always attentive to changes in the market, we offer the best products considering each client’s business. Talk to us and find out how we can help you.

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Seguro de sucessão empresarial: proteção financeira e patrimonial para empresas

prylocawp23 prylocawp23 — Fri, 17 Jun 2022 16:43:35 +0000

By taking out this type of insurance, the financial risk associated with the loss of one of the partners is mitigated

A successful business is not created overnight. Sometimes, it takes years for the endeavor to succeed, the result of a lot of planning and hard work. However, these continue even when the company is already established. After all, if the entrepreneur’s desire is to see his business prosper even after he is no longer involved, in the event of permanent disability or death, for example, then he needs to plan very carefully. After all, who will take control of the company?

In this scenario, business succession insurance may be the solution. Although it is still little known in Brazil, this product is already consolidated in the international market. Good succession planning can boost the company’s growth and set the stage for the definitive departure of one of the partners.

The insurance to be contracted can provide the resources so that the shareholders can immediately buy the part corresponding to the partner who died, for example. This facilitates the transition process, as day-to-day operations will be minimally impacted, in addition to reassuring the heirs in the event of the loss of the family provider.

By taking out this type of insurance, the financial risk associated with the loss of one of the partners is mitigated. First, it will not be necessary to have cash on hand to make this purchase. Second, it prevents a person who is not prepared to assume an important role within the company.

Without this type of insurance policy, a company could have its future jeopardized. If the heirs are not interested in maintaining the business, the other partners may find themselves obliged to go through a liquidation procedure, having to raise the necessary capital to buy the part that belongs to the former. All this without proper planning. Failure to do so could mean the end of the business.

Business succession is a process that requires strategic planning. Therefore, do not hesitate to hire a company that is specialized in this type of insurance. Pryor Global brings together the best products in the insurance industry in partnership with excellent insurers and operators. After all, your business is as important to us as it is to you. Get in touch with our team and learn about our solutions.

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Cresce procura pelo seguro de vida

prylocawp23 prylocawp23 — Wed, 04 May 2022 20:59:30 +0000

In a scenario of increasing instability, life protection has taken on a new meaning

The covid-19 pandemic has brought unexpected challenges for businesses around the world. The insurance sector is no exception, having suffered a significant decline in business during 2020: it went from 12.3% growth in 2019 to 1.3% the following year, according to data from the National Confederation of Insurers (CNSeg).

However, insurance companies weathered this crisis well, performing positively and better than most other segments of the economy, according to the president of CNSeg, Marcio Coriolano. Now, they are enjoying a strong recovery thanks to unprecedented measures to meet customers’ needs.

Data from Susep (Superintendence of Private Insurance) released earlier this year reveal that the sector raised R$275.21 billion the year-to-date, an increase of 13.1% compared to the same period of the previous year. The highlight goes to the life insurance segment, with R$21.08 billion collected, an increase of 17.3%. Among the reasons for this recovery, it is the change in the customers’ perception of life insurance.

Due to the pandemic, insurance is now necessary protection against unforeseen circumstances rather than an investment product. Such shifts in consumer mindsets have reminded companies of the importance of customer-centricity. Insurance market players quickly adapted and introduced specific coverage for pandemics, as well as policies tailored to customers’ expectations and requirements.

Searches for the term “life insurance” on Google doubled in 2021. A quick search on Google Trends reveals that the term is still on the rise, a sign that Brazilian interest in life insurance is here to stay. Whether it is the perception of the fragility of life, or the fear that the family will be financially helpless, the need to protect against unforeseen events is a priority in the post-pandemic world.

It is not possible to say when and if the new coronavirus (Sars-CoV-2) will disappear. Despite the widespread feeling that the pandemic is over, the reality is not so optimistic. In China, for example, a new lockdown was decreed after the number of cases increased, even though most of the population had been vaccinated.

In a scenario of increasing instability, with the world having to deal with the effects of a health and economic crisis, as well as a war in Eastern Europe, whose effects are also felt on all other continents, the future is surrounded by uncertainty. Life protection has taken on a new meaning.

At Pryor Global, we care about the future of our clients. We offer the best products available in the insurance market, considering the profile and needs of each business. Count on us to protect your future. Contact our specialists.

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