Nubank registers leading NPS in the insurance market in Brazil
With over 700,000 active policies, Nubank ended the first half of 2022 as the industry leader in the NPS ranking of relationship and in life insurance products, according to a report by global consultancy Bain & Company
Aug 11 , 2022
São Paulo, August 11, 2022 – Less than two years after launching its first product in the insurance market, Nubank already leads the NPS ranking of customer relationship in this industry in Brazil, with 65 points. The data is included in the benchmark report for the first half of 2022 by NPS Prism®, a registered trademark of the specialized global consultancy Bain & Company, Inc and to which Nubank is a subscriber.
Insurance customer relationship NPS is the metric that defines how inclined a consumer is to recommend a particular company as an insurer. Currently, Nubank has Chubb, the largest publicly traded property and civil liability insurer in the world, as a partner in the insurance market. Together, the companies worked on the development of Nubank Vida and Nubank Celular Seguro, which offer life and mobile insurance coverage, respectively, with a 100% digital experience through the Nubank app in Brazil.
“We set out to reinvent how insurance is done in Brazil, just like we did with banking. Having the best NPS in insurance in the country in such a short time proves that we really are building something fundamentally different and better. But it’s just day one – we continue to make radical improvements in product transparency, digital experiences, customer service, and claims experiences”, says Burke Deutsch, General Manager of Insurance at Nubank.
“Nubank’s impressive NPS score is a testament to our collaborative partnership approach with a laser-focus on the customer experience,” said Marcos Gunn, Senior Vice President, Chubb Group and Regional President, Latin America. “We look forward to continuing our alliance with Nubank and further deepening our understanding of their customers’ insurance protection needs and exceeding their customer journey expectations.”
Nubank Vida leads life insurance NPS in the country
Also according to data from Bain & Company, Nubank Vida, the life insurance that marked Nubank’s debut in the segment, took the lead in the list of most recommended life insurance products among customers, with an NPS of 55 points.
“Our focus is to build the best insurance products for all Brazilians, innovating with digital experiences that eliminate complexity and bureaucracy while delivering disruptive prices. We are building products that meet customers’ needs and fit their budget”, adds Burke Deutsch.
In April of this year, Nubank and Chubb announced a new agreement that strengthens the alliance between the companies aimed at the development of new insurance categories and the possibility of expanding this business unit to the operations in Mexico and Colombia. In Brazil, currently, Nubank has more than 700 thousand active policies from Nubank Vida and Nubank Celular Seguro.
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