INSURANCE COVERAGE IN LATIN AMERICA

INSURANCE COVERAGE IN LATIN AMERICA

Today we are talking about insurance in Spanish-speaking nations. Latin American insurance presents all the traces of a developing market, which is nothing more than confirmation of the truth that the insurance industry given that it serves the economy and society, succeeds in the sense in which stated society does. make.

Latin American insurance is among the fastest-growing in current decades in the world, following in the wake of the very economies of which it is a part. However, it still has a long method to go, which indicates it has plenty of chances.

The very first thing to comprehend about the Latin American market is that it is immensely different. The fundamental insurance coverage penetration rate that is typically used, the ratio of premiums per occupant and year, in Latin America goes from 695 dollars in Chile to 56 in Guatemala, according to SwissRe figures. Figures that a few of the Latin American countries do not include, such as Honduras, El Salvador, Nicaragua, or Venezuela, so it is possible that there are markets with even lower ratios in the location.

Confronted with these ratios, the density of insurance in Spain is around 1,500 dollars, which is an excellent sign of the very essential development courses that insurance coverage presents in the LATAM location.

It should likewise be said that the Spanish and Portuguese-speaking American countries are very involved in the objective of making insurance a tool present in their advancement policies. In numerous of these nations, these efforts have resulted in the dissemination of insurance coverage microfinance; microinsurance.

these are insurance coverage figures specifically developed for people with few resources, developed to permit, through the payment of very low premiums, the preservation of possessions that might seem modest, but for these individuals is essential when it concerns keeping and improving their standard of living. Microinsurance thus spreads insurance coverage "from below", enhancing the aggregate defense of society against threats. The objective is that less and fewer individuals, after a misfortune, state the 4 cursed words: "I have actually lost whatever."

We are, for that reason, prior to a sector, the Latin American insurance provider, which guarantees many enjoyable surprises in the years to come.