2017 - amazon web services€¦ · 2017 estamos seguros report ended t.unespa.es.es or ailable in...

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2017

Estamos Seguros Report

Check the extended

version of this report at

www.unespa.es

or

www.estamos-seguros.es

(only available in Spanish)

UNESPA. Association of Spanish Insurers.

Núñez de Balboa, 101. 28006 Madrid. Spain.Telephone (+34) 91 745 15 [email protected]

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The best analysis of the insuranceactivity in 2017

INDEX

01. INSURANCE ID

02. INSURANCE AND THE SPANISH PEOPLE

03. LIFE INSURANCE

04. MOTOR INSURANCE

05. HEALTH INSURANCE

06. PROPERTY INSURANCE

07. BURIAL SERVICES INSURANCE

08. BUSINESS INSURANCE

09. INSURANCE AS AN INSTITUTIONAL INVESTOR

10. WHY SOLVENCY IS SO IMPORTANT

11. INSURANCE AND ITS PROVIDERS

12. INSURANCE AND ITS EMPLOYEES

13. A COMMITMENT TO TALENT AND ENTREPRENEURISM

LETTER FROM THE PRESIDENT

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4

6

8

10

12

14

15

16

18

20

22

24

26

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DID YOU KNOW…? INSURANCE PAYMENTS AS A % OF GDP

PROBLEMS SOLVED BY INSURANCE EVERY HOUR OF THE YEAR.

Worked-related accidentsCLAIMS/HOUR: 1

Miscellaneous pecuniary lossesCLAIMS/HOUR:10

Source: Own calculation of Estamos Seguros based on data from the Dirección General de Seguros y Fondos de Pensiones.

Legal defenceCLAIMS/HOUR: 23

Personal damage

2.80%Damage to goods

1.34%

IncomeprotectionCLAIMS/HOUR: 32

Air and sea transportCLAIMS/HOUR: 95

General public liabilityCLAIMS/HOUR: 99

AssistanceCLAIMS/HOUR: 191

Motor Third Party LiabilityCLAIMS/HOUR: 293

Other motor insuranceCLAIMS/HOUR: 699

Fire and other property damageCLAIMS/HOUR: 1,266

Credit and surety CLAIMS/HOUR: 2,112

Medical servicesCLAIMS/HOUR: 16.660

Insurance manages new personal savings worth

500,000EUROS EVERY HOUR.

LIFE INSURANCEPAYMENTS

ACCOUNT FOR 4%of disposable household income.

01.INSURANCE ID

The purpose of insurance is to help people, businesses, institutions and other econo-mic agents when they suffer an unexpec-ted setback. It helps them get back on their

feet. Insurance protects all types of policy hol-ders from all sorts of danger and is ceaseless in its broad endeavour. This support is increasingly provided through a service. On other occasions, it

comes in the form of compensation. In one form or another, insurance companies return 5.2 million euros lost by their customers as a result of these claims every hour. Insurance contributes around four percentage points to the economic wealth created each year.

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4.46%

3.70%

3.71%

4.61%

5.02%

4.82%

4.40%

4.00%

3.39%4.04%4.40%

4.23%

4.60%

4.36%

4.13%

4.89%

4.32%

4.66%

3.81%

Source: Household Budget Survey. Source: Own calculations of Estamos Seguros based on the Household Budget Survey (EPF) compiled by INE.

4%3.5%3%

0% 20% 40% 60% 80% 100%

4.5% 5% 5.5%

PERCENTAGE OF HOUSEHOLD BUDGETALLOCATED TO INSURANCE.

PERCENTAGE OF HOUSEHOLDS CONTRACTING DIFFERENT TYPES OF INSURANCE. BY AUTONOMOUS REGION.

Andalusia

Galicia

Castilla-La Mancha

Castilla and León

Asturias

Balearic Islands

Catalonia

Madrid

Community of Valencia

Murcia

Extremadura

Canary Islands Ceuta

Aragón

Navarre

Cantabria

La Rioja

Basque Country

Melilla

GAL

CYL

AST

CANT

PV

NAV

CAT

ARA

LR

C. VAL

CLM

MUR

MAD

EXT

AND

BAL

CAN

CEU

MEL

ES

67.60%

71.28%

76.48%

61.99%

54.93%

80.81%

76.47%

67.03%

74.26%

75.22%

70.19%

64.65%

79.13%

75.36%

87.15%

88.15%

80.51%

51.69%

30.51%

73.59%

79.69%

74.62%

75.23%

83.49%

82.30%

77.66%

78.81%

82.85%

78.77%

82.06%

85.35%

81.11%

78.28%

84.23%

81.79%

76.53%

79.84%

77.12%

81.36%

79.85%

28.59%

19.41%

14.66%

37.48%

36.11%

19.32%

14.42%

25.94%

39.73%

15.58%

30.32%

23.69%

45.98%

23.33%

21.15%

31.20%

25.44%

32.20%

38.14%

27.73%

15.89%

3.54%

3.07%

13.11%

23.60%

4.60%

3.66%

14.23%

13.10%

0.94%

22.28%

10.63%

19.42%

17.09%

15.13%

13.54%

13.80%

22.03%

27.97%

12.42%

17.87%

3.34%

5.23%

13.37%

26.35%

5.91%

5.59%

17.32%

13.74%

1.95%

23.70%

11.81%

19.84%

18.84%

16.33%

14.75%

15.56%

22.88%

29.66%

13.80%

18.45%

3.74%

4.43%

17.82%

26.04%

6.04%

8.90%

19.67%

15.58%

1.59%

24.52%

13.36%

20.87%

19.82%

17.54%

14.48%

16.24%

25.42%

36.44%

14.82%

66.78%

30.64%

55.11%

37.61%

66.12%

44.42%

38.03%

56.40%

41.87%

47.55%

71.41%

51.29%

47.13%

63.09%

37.88%

46.45%

36.54%

44.07%

34.75%

49.93%

Property Motor Health Burial Travel assistance

Civil liability Other insurance

02.INSURANCE AND THE SPANISH PEOPLE

The most popular insurance policies are present in 96% of households. Only one in every 25 households in Spain has no insurance whatsoever. Spanish people in-

vest 4.50 of every 100 euros they earn to protect

themselves, their homes, their vehicles, etc. The most common combination is motor and home policies, but the insurance protections favoured by households vary according to region.

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A PRODUCT FOR EVERY CONCERN ANDEVERY NEED

AVERAGE LIFE INSURANCE COMPENSATION PAID ON DEATH, BY AGE OF THE DECEASED.

Up to 25 years From 26 to 40 years From 41 to 50 years From 51 to 60 years From 61 to 70 years From 71 to 80 years

13,042 € 38,829 € 36,162 € 29,648 € 25,791 € 33,664 €

Notice: The present infographic is a summary version. The full description can be found in the 2017 We Are Safe Report (full version). This publication can be downloaded at www.unespa.es

PLAN DE PREVISIÓN

ASEGURADO (PPA)

Investor profile

Conservative

8,000 €

Compatible with otherproducts: PIAS and SIALP

Annual contribution cap

Main tax benefit

Can it be redeemed?

Guaranteed return?

Deferred taxation. Reduction of contributions made

in the taxable income. Payments are taxed as

earned income.

No. It is illiquid until retirement or under certain

especial cases (serious illness, long-term unemploy-

ment, etc.)

Yes, unless it is redeemed before the agreed date.

Average saver profile

56 to 65 years old

Conservative

Main tax benefit

Can it be redeemed?

Guaranteed return?

Capital gains obtained by a person aged 65 are exempt from taxation if the proceeds are reinvested in an annuity. The annuities themselves do also have certain tax benefits.

Yes, but tax benefits are lost.


65 to 85years old

240,000€

LIFE AND TEMPORARY ANNUITIES

Investor profile


Average saver profileConservative

Main tax benefit

Can it be redeemed?

Guaranteed return?

Accumulated income is taxed as any other income

from savings.

Yes


46 to 55 years old

DEFERRED CAPITAL

No cap

Investor profile



Conservative

Main tax benefit

Can it be redeemed?

Guaranteed return?

The return accumulated by the customer is exempt

from taxation if it is collected in the form of an

annuity and provided that at least five years have

elapsed since the first contribution.

Yes, but tax benefits are lost.

The product may or may not offer a guaranteed

return. (Unit linked)

18 to 50 years old

PLAN INDIVIDUAL DE

AHORRO SISTEMÁTICO(PIAS)

8,000 €

(max. €240,000 in total) Compatible with other products: PPA and SIALP.

Investor profile



Moderate

Main tax benefit

Can it be redeemed?

Guaranteed return?

The return accumulated is exempt from taxation if at least five years have elapsed since the first contribution.

Yes, but the tax benefits are lost if the product is redeemed before 5 years have elapsed.

Guarantees at least 85% of the premiums paid on maturity-

46 to 65years old

SEGURO INDIVIDUAL DE AHORRO A LARGO PLAZO

(SIALP)

5.000 €

Compatible with other products: PPA and PIAS.

Investor profile



Risk-tolerant

Main tax benefit

Can it be redeemed?

Guaranteed return?

Accumulated income is taxed as any other income from savings.

Yes

No

56 to 75years old

UNIT-LINKED

No cap

Investor profile



03.LIFE INSURANCE

S ophistication is the key feature of life in-surance. What started off as a very simple product has developed over time to create multiple versions of itself in response to

changing customer needs. Today, life insurance

covers unexpected death and disability. But it also ensures well-being after retirement. Savings tools differ because no two savers are the same. There-fore, there is a wide range of insurance products to meet the requirements of each individual.

AN INSURANCE POLICY FOR EVERY NEED

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TRAFFIC CLAIMS SOLVED BY INSURANCE EACH DAY IN SPAIN.

ESTIMATE OF VEHICLES REPAIRED BY INSURANCE COMPANIES EACH YEAR.

Travel assistance11,153 CLAIMS

Fire17 CLAIMS

Revoked licence2 CLAIMS

Legal defence services546 CLAIMS

Personal injury1,581 CLAIMS

Claims for damages265 CLAIMSVehicle damage

5,463 CLAIMSOccupants81 CLAIMS

Own damage6,620 CLAIMS

Broken windows3,833 CLAIMS

Theft394 CLAIMS

Source: Own calculations made by Estamos Seguros.


20064,221,275

20074,208,983

20104,470,653

20144,216,343

20153,976,390 2016

3,752,020

20114,500,854

20124,746,881

20134,059,486

20084,893,252

20094,635,609

20174,061,840

04.MOTOR INSURANCE

For a long time now, motor insurance has not only been about the liability that arises when we cause an accident. Motor insu-rance today is a raft of large scale services

of proven efficacy. It aims to address the conse-quences of road accidents on people, vehicles and objects. Given the number of vehicles on the road, it is an activity in constant motion.

A WORLD OF SERVICES

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Source: Own calculations made by Estamos Seguros based on INE data.


PRESENCE OF HEALTH INSURANCE IN THE GENERAL POPULATION, BY PROVINCE.

PRESENCE OF HEALTH SERVICES INSURANCE IN THE GENERAL POPULATION.

Private insuranceNº of insured:

4,182,704

Mutual insurance for civil servants

Nº of insured:

1,849,831Reimbursement

of medical expenses

Nº of insured:

721,352

TOTALNº of insured:

9,906,084

Other groups (businesses)

Nº of insured:

3,152,1989.0%

4.0%

6.8%

1.5%

2017

21.3%

20%10%0% 30% 40%

Ciudad RealBadajoz

Pontevedra

La CoruñaLugo

Orense

Asturias

León

ZamoraValladolid

Burgos

Palencia

Soria

La Rioja

Cáceres

SevilleHuelva

Cádiz

MálagaGranada

Córdoba

Toledo

SalamancaÁvila Madrid

GuadalajaraSegovia

Saragoza

Huesca Lérida

Teruel

Cuenca

Valencia

Alicante

Albacete

MurciaJaén

Almería

Castellón

Tarragona

Barcelona

Gerona

Guipúzcoa

Biscay

Cantabria

Navarre

Alava

Las Palmas

CeutaMelilla

S. C. Tenerife

Balearic islands

05.HEALTH INSURANCE

Health insurance is becoming increasingly important in Spain. There are 11.5 million health insurance customers. 10 million of these have a health insurance policy.

Therefore, one in five people has health insuran-ce cover through individual or collective policies. It features increasingly among the social benefits offered by companies to their employees.

In addition to the health services cover, the prod-uct includes subsidies insurance. This product guarantees compensation for the insured person in the event they are not able to work due to ill-ness or hospitalisation. The policy is particularly suitable for self-employed workers as it relieves concerns over any potential setbacks in their health.

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Distribution of repair services

Estimated equivalent employment derived from home repairs paid by insurance

Average repair time, by guilds.

Masonry

Carpentry

Locksmith

Windows and glass

Electrician

Plumbing

Multi trade

Other

Parquet and other flooring

Painting

Appliance repair

13.4%

4.9%

4.0%

8.3%

4.8%

31.8%

2.0%

7.5%

1.7%

11.4%

10.1%

7,750

6,493

2,797

4,007

1.960

9,863

4,601

6,763

3,389

6,159

5,439

13days

19days

5days

8days

5days

6days

28days

9days

23days

16days

6days



THE 10 MOST COMMON REPAIR SERVICES REQUIRED TO RESOLVE CLAIMS FOR HOUSEHOLD INCIDENTS.

% Percentage

% Accumulative

1. Plumbing service

24.9%

24.9% 2. windows and glass service

40.4%

15.5% 8. Locksmith service

81.7%

3.5%6. Plumbing service+Painting service

74.1%

4.2%

3. Masonry service

55.3%

14.9% 5. Electrician service

69.9%

4.4%4. Appliance repair service

65.5%

10.2%9. Masonry service

+plumbing service

83.8%

2.2%

7. Masonry service+plumbing service+painting service

78.2%

4.0%

10. Painting service

85.7%

1.9%

BREAKDOWN OF REPAIR SERVICES REQUIRED BY INSURED HOUSEHOLDS.

06.PROPERTY INSURANCE

Over time, property insurance has develo-ped from paying back the amount of the repair to the customer to carrying out the repair itself. Specifically, multi risk

insurance policies offer a wide variety of services involving a substantial number of repair workers, whose activities and employment are in a large

part sustained by the insurance business. It is im-portant to highlight that all insurance companies require the providers of these services to be cu-rrent with their legal, tax and social security obli-gations to ensure that the work is performed with the highest guarantees and total transparency.

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Source: Own calculations made by Estamos Seguros based on ICEA and INE data.


PRESENCE OF BURIAL INSURANCE BY PROVINCE.

PRESENCE OF BURIAL INSURANCE AMONG DEATHS EACH YEAR.

40%20%0% 60% 80%

UNINSURED

255,934

ÁlavaAlbaceteAlicanteAlmeríaAsturiasÁvilaBadajozBalearic isl.BarcelonaBurgosCáceresCádizCantabriaCastellónCeutaCiudad RealCórdobaCuencaGeronaGranadaGuadalajaraGuipúzcoaHuelvaHuescaJaénCorunna

Province Presence Province Presence

25.55%59.19%46.19%45.44%64.16%71.39%70.95%22.04%34.28%25.61%69.06%78.79%47.38%34.71%38.57%67.56%56.51%25.97%24.40%48.82%32.36%42.26%66.34%19.88%60.88%48.66%

La RiojaLas PalmasLeonLéridaLugoMadridMálagaMelillaMurciaNavarreOrensePalenciaPontevedraS.C. TenerifeSalamancaSegoviaSevilleSoriaTarragonaTeruelToledoValenciaValladolidBiscayZamoraSaragossa

29.01%61.55%47.52%24.69%26.80%39.12%58.69%18.88%57.84%23.22%41.50%32.01%55.03%49.47%51.72%44.92%61.50%17.70%37.34%20.76%55.44%47.42%34.51%42.84%32.12%39.82%

INSURED

250,9622017

20172016

2016159,649

168,273

07.BURIAL SERVICES INSURANCE

B urial services insurance has a deep-rooted history in Spain. This is reflected in its wi-despread use among the population. Al-most half the Spanish people have burial

services insurance. Estimates suggest that around

60% of deaths in the country are covered by burial insurance. In 2017, around 255,000 funerals were arranged. The aim of this service is to help fami-lies at a very difficult time.

08.BUSINESS INSURANCE

A large part of the insurance industry’s ac-tivity is centred on businesses, to which it provides stability by ensuring that they receive compensation for damages cau-

sed by unexpected incidents. Available data su-

ggest that the volume of assistance provided by insurance cover for this segment during the hard crisis years was largely unchanged. During the hard times, insurance was where it should be.

Transport (goods)

Electronic equipmentTransport (hull)

2,048 €

4,173 €

Industrial multi risk

2,573 €

Theft

15,872,273 €

Industrial fires

36,092,027 €

108,182,794 €

135,870,403 €

83,833,712 € 687,513,040 €

Mechanical breakdown

74,514,596 €

7,557 €3,487 € 3,470 €

1,686 €

2,393 €

Assembly

36,524 €

Construction

ESTIMATED BUSINESS INSURANCE PAYMENTS

Estimated business insurance payments

Average business insurance payments

Source: Own calculations made by Estamos Seguros,

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Source: DGSFP

Source: Own calculations made by Estamos Seguros based on Bank of Spain data.

2,442Loans

932Other

34Mortgages

24,265

Spanish corporate debt

24,196

Foreign public debt

127,334

Spanish public debt

37,019

Foreign corporate

debt

10,414Real Estate

25,028Cash

9,283

Spanish funds10,892

Foreign funds11,920

Spanish securities

4,015

Foreign securities

INSURANCE INVESTMENT PORTFOLIO (IN MILLIONS OF EUROS)

TOTAL

287,774

DAILY NET ACQUISITION OF INSURANCE SECTOR FINANCIAL ASSETS. 1995-2017

Cash and deposits

Short-term fixed income

Long-term fixed income

Short-term loans

Long-term loans

Stock markets

Unlisted shares

Investment funds

Other interests

Financial derivatives

Other

PROPERTY ASSETS OF THE INSURANCE SECTOR, BY REGION.

1,787,993 €

57,084 €

19,126,859 €

195,317 €

110,764 €

625,267 €

510,277 €

2,441,877 €

158,701 €

2,459,007 €

-242,660 €

SPAIN

10,294,316,541 €

MADRID

5,499,831,664 €

BARCELONA

2,100,221,178 €

OTHER PROVINCES

2,694,263,701 €

09.INSURANCE AS AN INSTITUTIONAL INVESTOR

The inherent benefit of insurance for the economy is twofold. Firstly, the claims paid prevent many individual, financial and group projects from failing. However,

insurance money is also used to make pruden-tial investments, with a clear long-term horizon,

while it remains unused. This makes the Spanish insurance sector a provider of stable financing, the type of financing most needed by economic agents. The State is the main beneficiary because there is a clear mission to invest insurance money in public debt.

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Life

Motor

Multi risk

Other

Health

180,469,263,854

2016 2017 (UP TO SEPT.)

11,189,329,760

2,045,468,418

6,358,115,176

14,750,422,697

185,855,627,669

11,623,244,659

3,074,995,183

6,548,893,155

15,330,591,693

SPANISH INSURANCE SECTOR PROVISIONS

Source: DGSFP.

SPANISH INSURANCE SECTOR SOLVENCY REQUIREMENTS

2.01.51.0 2.5 3.0 3.5 4.0LEVEL OF COVERAGE OF THE OBLIGATORY SOLVENCY CAPITAL (CSO) IN THE EUROPEAN ECONOMIC AREA

SPACE SETEUROPEAN ECONOMIC

2.11

Poland2.69

Czech R.2.25

UK1.51

Austria2.76

France2.23

Romania1.62

Bulgaria1.96

Greece1.62

Germany3.23

Sweden2.65

Norway2.06

Finland2.01

Italy2.20

Hungary2.24

Eslovaquia2.29

Cyprus2.70

Lituania1.95

Latvia1.43

Estonia1.93

Ireland1.73

Croatia2.27

Slovenia2.40

Liechtenstein2.34

Denmark3.04

Malta3.98

Luxemburgo2.30

Netherlands1.77

Belgium1.76

Spain2.40

Portugal1.47

Required margin

22,200,007,383 €

Required margin

22,426,268,704 €

Excess funds

30,867,228,775 €

Excess funds

33,494,432,976 €

2016 2017(UP TO SEPT.)

Coverage

2.49

Coverage

2.39

Source: DGSFP,

Source: Own calculations made by Estamos Seguros based on Eiopa data.

10.WHY SOLVENCY IS SO IMPORTANT

Solvency is a topic never or rarely talked about. However, without it, the insuran-ce guarantee, especially for long-term products, would not exist. Solvency is the

hidden, or silent, power used by insurance com-panies to meet their commitments, both present and future. It comprises three basic lines: current payment capacity, reflected in the annual claims payments; future payment capacity, reflected in the technical provisions; and lastly, capacity to

respond to adverse events, which is the solvency margin itself. The rules for calculating the solven-cy requirements have changed recently, becoming much more stringent. Under this new calculation methodology, the Spanish insurance sector is still eminently stable.

20 21

AVERAGE NUMBER OF VEHICLES REPAIRED AT AUTO WORKSHOPS DUE TO TRAFFIC ACCIDENTS COVERED BY INSURANCE COMPANIES

MAINSUPPLIERS OF

SPANISH INSURANCE

IN 2017

Health sector (traffic accidents)

Household repairs

Health sector (health insurance)


907050 110 130 150 170

Payments made to the main Spanish insurance providers in 2017

Induced employment equiva-lent deriving from insurance claims paid,

5,611,211,803 € 251,386

74,9031,671,914,736 €

545,032,530 € 24,417

Auto repair workshops160,5003,582,543,412 €

Funeral services

38,413857,422,165 €

80

68

59

76

88

94

72

64

1609476

80

53

52

65

63

68

95

68

Andalusia

Galicia

Castilla-La Mancha

Asturias

Balearic islands

Catalonia

Madrid

Comunidad Valenciana

Murcia

Extremadura

Canary islands Ceuta

Castilla y León

Aragón

Navarre

Cantabria

La Rioja

Basque country

Melilla

SPAIN

74

Source: Own calculations made by Estamos Seguros based on Dirce data,

11.INSURANCE AND ITS PROVIDERS

The insurance measures carried out after an incident give rise to a flurry of interactions between the insurance companies and va-rious professionals, particularly relating

to repairs. Through its operations, the insurance sector becomes a source of work for many of them. Demand for insurance-related services is estima-ted to create between 550,000 and 600,000 jobs.

22 23

Source: Own calculations made by Estamos Seguros based on ICEA and EPA data.

Source: ICEA. Source: INE.Source: ICEA.

LEVEL OF COMPLIANCE WITH LISMI REGULATIONS IN THE INSURANCE SECTOR1

PERCENTAGE OF TEMPORARY STAFF IN THE INSURANCE SECTOR WORKFORCE.

AVERAGE SENIORITY OF EMPLOYEES. BY SECTOR.

1.The LISMI requires that 2% of a company's workforce be differently-abled. This figure is calculated on the basis of the number of employees hired directly, those that act as suppliers and those that benefit from donations or sponsorships extended by the company.

ORDINARY WAGE COST BY SECTOR (INSURANCE = 100)

Public administration, education and healthcare

Insurance

Agriculture, livestock farming and fishing

Mining and electricity

Machine industries

Total economy

Food, textiles, leather, wood and paper industry

Finance (including insurance)

Transport and communications

Construction

Commerce and hospitality

Other services

14.6

13.2

12.4

10.9

11.0

11.3

10.8

10.3

10.4

10.0

9.1

7.9

17.5

14.5

13.7

12.8

12.6

12.7

11.9

12.3

11.3

10.5

11.2

10.8

15.7

13.9

13.4

12.4

12.3

12.0

11.5

11.2

11.1

10.4

10.1

8.7

MEN BOTHGENDERS

WOMAN

Permanent employees

96.04%

Temporary staff

3.96%

Disabled employees

1.28%

Donations / Sponsorships

0.23%

Trade hires

1.25%

155,32

152,82

150,18

118,32

100,00

87,98

78,13

70,37

69,97

65,35

56,47

50,93

36,84

Coke and refined petroleum products

Supply of electricity, gas, steam and air conditioning

Financial services, excluding insurance and pension funds

Telecoms

Insurance, reinsurance and pension funds, excluding Social Security Office

Legal and accounting activities

Public administration and defence; Social Security Office

Education

Building construction

Property activities

Administrative work and other ancillary activities provided to companies

Retail activities, excluding motor vehicles and motorbikes

Building services and gardening activities

YEARS12.INSURANCE AND ITS EMPLOYEES

The insurance sector provides some of the highest quality jobs. This is reflected in the stability of the contracts offered, remune-ration, equality policies, compliance with

regulations on disability, etc. The sector marks an extremely positive, at times excellent, trend in all these fields, reflecting the stability of these high added value positions.

24 25


Agents

27.10%

Tied insurance agents - legal entities

Exclusive insurance agents - legal entities

324

Tied insurance agents - natural persons

182

11,890

Exclusive insurance agents - natural persons

63,704

Brokers

17.10%

Reassurance brokers - legal entities 62

Insurance brokers - natural persons 3,553

Insurance brokers - legal entities 1,503

Internet

1.20%

Other channels

3.15%

Bancassurance

38.65%

Insurers branches

15.78%

INSURANCE CHANNELS MARKET SHARE

PROFILES OF INTEREST TO THE INSURANCE SECTOR TODAY

Exclusive bancassurance operators 36

Tied bancassurance operators 14

Post and Qualifications Characteristics

IT SPECIALIST

Object-oriented programming and data bases

ECONOMIST

Economics, Business administration

COMMUNICATIONAND NEW CHANNELS

Marketing, Economics and Advertising

SPECIALIST INBIG DATA

Mathematics/Statistics

LAWYER

Law, Business administration

MARKETING

Marketing, Advertising, Business administration,

Good team player

Data analysis skills

VisualBasic, MatLab

English

Specialised in customer relations models

Analytical skillsInitiative

Proficient in SQL and tools such as HADOOP and HIVE

Flexibility and good judgement

English

Knowledge of analytics and SEO-SEM

Good team player

English

13.A COMMITMENT TO TALENT AND ENTREPRENEURISM

Insurance is a cutting-edge industry, accusto-med to innovation. Therefore, it is always on the lookout for talent. The insurance sector is constantly seeking professionals at the head of

their field that will allow it to forge boldly ahead and respond to its customers’ needs.

Insurance companies also have a strong com-mitment to entrepreneurism, mainly through their marketing component. The sector is centred on training and consolidating its workforce. Each year, 9,000 new entrepreneurs are trained; for an investment that can reach 10,000 euros each.

26

Insurance is not the most important activity in an economy. It does not employ the most people. Nor does it have the highest turnover. It is not the most enjoyable or the one prefe-rred by influencers. However, without insurance none of these other revenue-rich, emplo-

yment-generating or influential activities would be the same. The fact that their full potential can be developed is due to the insurance industry.

The sole aim of this publication is to draw back a veil. A veil that usually conceals the insurance sector, making it invisible to many of us. In part, this is the way it should be; insurance is usually only needed in situations that are unpleasant for all concerned. However, it also fair to dedicate a few minutes to this activity because in silence, and seemingly irrelevance, insurance is responsible for rebuilding what has collapsed, and in doing so, is a provider of confidence.

You do not have to be an expert in economics to see that development depends on confidence. People who are more confident bear more risk, and those that risk more, grow more. In the end, we all grow; and our well being and quality of life improve. Here lies the essence of the insurance activity; because if there were no insurance, people who now barely think twice before risking something would think three, four, ten or twenty times; and then would perhaps decide not to make a move.

These pages contain a description of some of the things that insurance does each day, each hour, each minute, to ensure that neither society nor the economy lose the confidence they need to progress. If you can spare the time to read this document, I believe that you will learn some facts that you were not aware of. Facts that will surprise you.

Thank you for reading.

Pilar González de Frutos President of UNESPA.

2017 - amazon web services€¦ · 2017 estamos seguros report ended t.unespa.es.es or ailable in...

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