In Brazil, insurer sells policies at newspaper stands

Hard on the heels of our story about friendsurance earlier this month comes word of another insurance innovation, this time from Brazil. Specifically, financial services giant Bradesco Seguros recently began selling insurance policies at local newspaper stands. Part of an initiative to increase its grassroots customer base, Bradesco Seguros is using the novel newsstand approach to sell policies for accidental death and funeral insurance. The maximum price on its policies sold this way is BRL 5.50, and the company hopes to use the strategy to sell some 50,000 policies over the course of 2011, according to a report (registration required) in Brazilian newspaper Folha de S. Paulo. Gas stations are reportedly another unconventional outlet the company hopes to try out next. Turning to social media and new sales channels to revitalize business may be nothing new in itself, but it’s interesting to see that now even insurance companies are getting in on the act. What’s more, the unexpectedness of this latest move may provide some extra cut through in a very crowded market. Only time will tell whether the venture proves successful, but there’s plenty of lateral thinking going on here to be inspired by. Spotted by: Fernando Dias