As for the local, he assured that an effect of the pandemic was “the acceleration of technological changes, which have become a necessity for all generations, for which AVIRA was present accompanying the companies.”
For the medium and long term, Guzzi highlighted that they set out to “do a job that had to do with greater market opening and possibility for all companies in the sector” and were in charge of developing “inclusive insurance.” “By means of a commission, we were able to formulate a document with initiatives that change the standard insurance regulations in order to capture a market that we understand as underdeveloped and with specific needs. Among them, tax deductions and investments stand out, given that many products we sell have a savings component,” he said.
Likewise, the seminar was sponsored and participated by the National Insurance Superintendence. Regarding innovation, Superintendent Adriana Guida pointed out that the Insurance Innovation Table was created with the aim of involving experts in the field. On this point, she emphasized: “We are focused on knowing everything that has to do with the insurance activity in relation to new technology and we put a special focus on regulation.”
Regarding inclusion, Guida explained that the new regulations for the micro insurance market are being regulated “in order to be able to include those people who need it most.” “On the other hand, we will go out to test the insurance culture and awareness through ‘Seguro va a la escuela’ and ‘Seguro va a los barrios’, in such a way that different population groups become aware of the relevance of being insured” he added.
In the line of inclusion, Andrea Camargo, an expert in inclusive insurance from the UN World Food Program, stressed that they are aimed at populations that do not have access to traditional insurance. In this sense, she pointed out that “for a case to be successful, it must have the following criteria: critical mass, that is, to cover a large number of people; value, given that the product to be insured must be important for whoever acquires it; and distribution, so it is key to work with different entities with direct knowledge of the population”.
Regarding the challenges of innovation, Hugues Bertin, CEO and founder of Digital Insurance Latam, warned about a paradigm shift that unleashes a new driver for insurers: sustainability. “Societies are beginning to be concerned about climate change and willing to act day by day to generate a positive impact. This generates a change of agenda for companies, which are gradually beginning to place sustainability among their main concerns, given that their business is threatened if they do not adopt this new driver”, he pointed out.
In this framework, he highlighted that this issue is being worked on worldwide by insurers, and exemplified that “56% of the adherence to the Net-Zero Alliance, which seeks to achieve greenhouse gas emission neutrality by 2050, are insurers”.
Source: Ambito
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