From The Report: Mexico 2018
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The stable growth of the Mexican economy and the low level of insurance penetration in the country are likely to continue to drive growth in the sector over 2018 and 2019. In the absence of further natural disasters the loss ratio of insurers, which rose following the 2017 earthquakes, can be expected to stabilise in 2018. Nevertheless, the rise in incidents of car theft will likely require action on the part of insurers, with a more comprehensive product design. However, new regulations and a closer management of risk should support the industry in overcoming these challenges. Incorporating emerging technology into the design and distribution of products will be key for insurance firms to stay competitive. This chapter contains an interview with Manuel Escobedo Conover, President, Mexican Association of Insurance Companies.