The Mexican company Quálitas, which has a 32% market share in the sale of auto insurance with 4.5 million insured vehicles, announced that it is ready to enter the health insurance sector.
“We are seeking authorization to enter a new field, we hope to do so sometime in 2022, in health, in the field of medical expenses that we are going to start softly and without any rush. We have a lot to learn and we hope to take solid steps ”, declared José Antonio Correa, Chairman of the Board of Directors and CEO of Quálitas, at a press conference.
More than two months ago, the Covid-19 pandemic became the most expensive catastrophic event for the insurance sector in all of Mexico’s history, with $ 2.495 million, according to the Mexican Association of Insurance Institutions (AMIS) .
Read: Covid-19, the most expensive claim in the history of insurance in Mexico
Currently, Quálitas has a presence in Mexico, Peru, the United States, Costa Rica and El Salvador; In addition, it is analyzing entering other Latin American markets, such as Colombia.
In this sense, the manager acknowledged that they are interested in the growth of the aging population in the country and in the world to offer the sale of medical insurance, offering as a major differentiator the attention to agents and clients.
“We have come over the last 18 months making all the corresponding requests to the different secretariats, the Ministry of Health, the National Insurance and Bond Commission, and we have made progress with the authorizations because it is a complex process. We hope to be able to leave during the first semester of 2022 ”, added Correa.
Regarding the shortage of semiconductors and microchips that has hit the automotive industry in the last year, the manager assured that this has also affected the insurance sector, as there have been delays in the arrival of parts and in the purchase of cars.
“We have seen that the logistics issue has had an important impact on the times to be able to have spare parts and they have been extended in the industry in general. What we know is that it will continue, by the main manufacturers, this will continue and it seems that the issue of microchips will continue until 2022 “, he mentioned.
However, he acknowledged that there is a strong interest on the part of the Mexican population in buying pre-owned and used vehicles, which has reactivated the industry.
“The sector has grown between 2 and 3%, in Quálitas it has grown just over 8% in terms of the premiums we issue. The fall in car sales does have an important impact, but we have seen a reactivation in the part of used or semi-new vehicles because there is a greater interest precisely because of the temporary shortage of new cars, “explained Correa.
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