Dominicans are increasingly aware of the importance of insuring their property, life and health, although the insurance sector faces certain challenges, mainly the access of the poorest to these services.
For the chairman of the board of the WorldWide Group insurance company, Zanoni Selig, when comparing Dominicans with citizens of other Latin American countries where that company has a presence, Creoles are more insured.
“It is not true that the Dominican Republic is lower in insurance culture than most Latin American countries. The Dominican is becoming more and more aware,” said Selig.
He declared that the Creoles understand that life insurance is a necessity, mainly in the middle and upper classes, “although it should reach lower classes, but (the country) has been progressing and there is a culture of insurance.”
He assured that one of the challenges of the company is to create more affordable products, to be able to reach a different class than the one that normally acquires its services, and make these can be bought by a less favored social class, for which they are working. .
The executive, during an interview with Free Journalpointed out that they see in the local insurance market “a great opportunity for growth”. “We do not see any shadow, right now”.
“We believe that we can grow -he added-, the only thing that, for our life insurance, which we finished last year with a growth in sales of 30 percent, if the tax were removed or reduced, in this Grow a lot”.
He stressed that one of the phenomena that is happening in the Dominican market is that the level of technology and the experience of doctors is increasing, working with more critical cases, for which the patient does not have to go outside the country for treatment.
He also highlighted that in the country the costs of treatments and procedures are cheaper than in the United States. “For our business, I see it as good,” she observed.
WorldWide is an insurance company, focused on two branches: one of major medical expenses or health insurance international, and another individual life. The company has 50% of the private sector in its country health insurance international. “Everything that is private insurance. We have competitors, but most of them are not focused on that field, but they do it as one more. There is much more market, mainly in places that are not the capital and Santiago; everything that is the Cibao region: Espaillat, Duarte, Mirabal Sisters, Puerto Plata and the East region”, he specified.
The president of the insurer’s board of directors highlighted that, in the case of individual life insurance, the company is also a leader in the country.
Zanoni Selig, who was accompanied by Wolfgang Wand, a member of the company’s board of directors, reported that they are in the country to celebrate one of the organization’s four board meetings a year, as well as an event to reward the brokers that placed the most policies in 2021 and announcements of new coverage, especially from the health insurance international
