On the 12th, Porto and CDF, Assistência e Apoio Digital announced the creation of a new company providing services in the sector
The alliance created by Porto and CDF will unite all operations carried out by the two companies, including the entire service provision area of Porto, an insurance company that has become a reference in services provided to customers, helping from repairing the customer's shower to O car collection that there was a problem on the road. The company, which is still awaiting approval from Cade (Administrative Council for Economic Defense), will emerge as one of the largest services in the country and will have a potential revenue of around R$ 2 billion per year.
Also, the company will have a large part of the operations of CDF, a company founded in 2007 and inspired by a service delivery model in the United States. The CDF, when created, attracted a private equity fund from BTG Pactual, which in September last year invested BRL 350 million in the business.
The new company of CDF and Porto is also planning a new creation, Porto Assistência e Participação, which will be 80% owned by Porto and 20% by CDF shareholders.
Company created by Porto and CDF will bring together services performed by both companies
The new company being developed by Porto and CDF will bring together 100% of the sectors that took care of Porto's assistance and services. As Marcos Loução, CEO of Porto Seguro Bank, points out, the new company will have the potential to have Ebitda (earnings before interest, taxes, depreciation and amortization) of R$ 400 million annually and profits of R$ 1,9 billion. He also concludes by saying that the market in which the company is inserted has a lot of growth potential.
Porto insurance company alone provides, on average, 4,5 million assistance services per year. CDF, on the other hand, performs around 1,4 million services and has a base of approximately 9 million customers, the vast majority of which are not even aware that they are using CDF services, since CDF often acts on behalf of partner companies such as Vivo, Via, Carrefour and Magazine Luiza.
The new company being prepared by Porto and the CDF will be led by Eugênio Staub Filho, an executive who is now CEO of CDF and has worked in groups such as Gradiente and Goldman Sachs and Bank of America.
Staub has been with the CDF company since its inception. The company's CEO reports that CDF currently operates in three main areas that complement Porto insurance operations. The areas in which the companies work together are; provision of technical support to the population, such as configuring the Wifi network; Install products such as Smart TVs and refrigerators; And also provide repair services such as locksmith and maintenance of gas heaters.
Quality of services provided by companies
Porto Assistência currently has 4.200 service providers and 4.400 standard car networks. In addition, the company has more than 2.000 first responders and 1.100 unique vehicles.
In this context, the company provides around 4,5 million services annually, equally distributed between automotive and residential services. “We have an undeniable capillarity, with a wide network of fast and efficient suppliers throughout the country. For customers and policyholders, nothing has changed. We will remain a reference in terms of work, quality and reliability of Porto products”, stated Loução.
Another characteristic of the Porto Assistência insurance company is the continuous process of renaming so that customers can always use the tools and vehicles that best meet their needs. The company develops equipment based on the experience acquired over the years. Furthermore, since 2008, providers have been using electric bicycles to provide care. In 2020, the company conquered and started the operation of the first electric winch in Brazil.
Currently, the fleet has 50 bicycles, one motorcycle, 5 trucks and 16 vehicles, which together avoided the emission of 35,38 tons of CO2. The company also has extensive experience in emergency care. For example, he pioneered the design of using a personal watercraft for flood rescue. This year alone, the company sent teams to special projects to deal with landslides and floods that hit the cities of Minas Gerais, Bahia, Sao Paulo and Rio de Janeiro.
