ENIF, the AMIS has other data: it affirms that insurance acquisition did increase in the pandemic

The Mexican Association of Insurance Institutions (AMIS) contradicted the results of the National Survey of Financial Inclusion (ENIF) 2021, stating that the acquisition of insurance among the population yes increased in the wake of the pandemic.

Norma Alicia Rosas, general director of the organization, explained that since they are the results of a survey, they do not reflect what the sector detected, since for them the medical expenses policies rose and the life policies remained stable.

“This survey talks about two or three years, they take a very long period. What I could say is that we are seeing a little bit more encouraging figures”, he referred.

For his part, Juan Patricio Riveroll, president of AMIS, added that due to its nature of being a survey, the ENIF 2021 does not provide accurate and supported data in people who have proven to have insurance, because “they may have thought that they were talking about Popular Insurance that they no longer have” which could affect the results.

The National Survey of Financial Inclusion 2021 published by the National Institute of Statistics and Geography (Inegi) indicated that the population that had insurance went from 20.1 million seen in 2018, to 17.6 million Mexicans with at least one policy.

By branch, life insurance represented 13.1 percent of the population between 18 and 70 years of age, a drop compared to the 17 percent it represented in the 2018 Survey. In major medical expenses, in said periods, it went from 6.3 percent to 5.8 percent.

Another piece of information that he showed is that 5 percent of those who have never purchased insurance are Because they don’t trust the insurers. In this regard, the president of AMIS said that the penetration of insurance has increased little by little and in terms of reputation “I think it is not an issue of lack of trust, but rather that people tend to not wanting to confront a reality (of risk) and we went off on the tangent that they think they are not going to get paid.”

Rosas, on the other hand, explained that the great challenge facing the sector is to protect more Mexicans, since only 18.4 percent of the Economically Active Population (PEA) has life insurance and the penetration of housing insurance barely reaches 6.5 percent without counting mortgages.