Insurance: Growth Potential in El Salvador

In 2016, only 22% of the population had insurance in the event of a claim, and that proportion is now 26 %.

Wednesday, May 15, 2019

A study on the perception and penetration of insurance in the country, carried out by the Salvadoran Association of Insurance Companies (ASES), states that 23% of people who do not have insurance are for lack of knowledge or interest in this service.

María Teresa Bolaños, director of ASES, explained to Laprensagrafica.com that "... the study shows that the main reasons why people have insurance is to protect their family, to prevent an accident, to protect their assets in the event of an eventuality, to have support when unexpected expenses occur, to have access to medical services and as a means of saving."

You may be interested in "Insurance: Salvadoran Market Up 5% in 2018"

Bolaños added that "... We have found that the benefit of having insurance is perceived by consumers when they receive compensation. This reiterates our commitment to continue working so that insurance reaches more people in order to give them peace of mind in unexpected situations."

Other relevant data from the investigation in which more than a thousand people between 18 and 65 years old were interviewed in the Metropolitan Area of San Salvador, Santa Ana and San Miguel, is that on average one person invests $39.41 a month in insurance premiums.

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