Long Distance Sales of Financial Products

Distance marketing of financial products is a business alternative with great potential in Costa Rica.

Monday, March 11, 2013

Elfinancierocr.com reports that "distance marketing of financial products and insurance in particular, is an alternative for both for business insurers as well as intermediaries. However, when insurance mediation activity is regulated by the risk involved, it deserves special attention by the Superintendent of Insurance. "

"The Insurance Marketing Regulation provides in Article 33, the possibility of taking out insurance by means of distance communication. However, this regulation does not define that term, but only refers to the rules of the Commercial Code and the Civil Code, as well as the rules and regulations that can be set by the National Financial Supervision System " .

"The existence of clear rules on this in particular would benefit all market players, since it would prevent abuses that have been committed against consumers, but also the unscrupulous use of insurance by the public ...".

"... Distance marketing is a useful and inexpensive mechanism for developing the sale of insurance. With a moderate effort on the part of the market, insurance intermediaries, consumers and the Superintendent of Insurance, this market need could be addressed and increase insurance penetration putting Costa Rica at the cutting edge in comparison with other countries in the area .. . ".



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