Gustavo Morales was elected yesterday as the executive president of Fasecolda. He is a lawyer from the Universidad de los Andes with international studies from the Diplomatic School of Madrid, Spain. He has held various positions, including Superintendent of Health, president of Afidro and Acemi. He will replace Miguel Gómez Martínez, who resigned last December.
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Morales revealed to Portafolio that the sector increased its penetration last year to 3.72% of GDP, from 3% in 2021with which Colombia rose to the Latin American average level.
What is the importance of the sector in Colombia?
It fulfills a social work because it is a scheme in which when we all put in and someone needs help, with that collective effort they are helped. You see that in all lines of business, including climate change and unemployment. Helping the Government, the State and society to strengthen the insurance function is key.
What will be your line of action?
There are several challenges. The sector is solid, it fulfills people and companies and that more and more people are protected. Insurance penetration has increased but could be higher. At the end of 2022, it represented 3.72% of GDP, an increase compared to the 3% it represented in 2021. That already raises us in the Latin American average and the objective is to reach the OECD averages. The more penetration there is of insurance, the more protected people, companies and State entities will be.
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Will there be changes in the guild?
Fasecolda is one of the most solid and technically supported unions in the country and we are going to build on that solidity that other people have raised in previous years and we will discuss with the board the emphasis and changes.
The Soat has had many problems and the Government lowered 50% of its cost to some sectors. What do you think?
It is to be expected that the number of insured will increase with the discounts that were regulated and we will have to wait a few more months for the impact on the sector. It is necessary to look for more people to have Soat, to reduce evasion and fraud.
How did the sector do in 2022?
In 2022, claims for $22.8 trillion were dealt with in all branches, 14% more than in 2021 and that represents the sector’s commitment to customers and policyholders. What it is about is that people understand the benefits of protecting themselves.
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