A policy is acquired to protect you from a risk, a calamity, to cover yourself in case of damage or loss of something that is important to your life. Colombia is a unique country if you consider that most people prefer to protect their car against the risk of theft or total loss by accident, including health or life. Insurance penetration (an indicator that measures the share of insurance premiums issued in the economy through GDP, GDP) reaches 2.8%, well below markets like Chile (4.7%) but better Than in Uruguay (2.3%), Mexico (2.2%) and Peru (1.9%).
One reason why this figure does not progress faster is that people do not know the clause that has their insurance. This is reflected in the complaints against the insurance sector, where the figures from the Superintendence of Finance reveal that during the first half of 2016 there was a 24% increase in customer non conformists compared to the industry, compared to the first half of the year. 2015. Continue reading “Do not make mistakes in buying your insurance”