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ANA

MEXICO - Finance

Raúl Barba Cavazos

CEO, ANA Seguros

Bio

Raúl Barba Cavazos is CEO of ANA Seguros.

"There is a great opportunity in the Mexican car insurance market, as only 33% of vehicles are currently insured."
With a vast network of offices and brokers across the country, ANA Seguros focuses on raising awareness through campaigns and innovative policies, emphasizing the importance of insurance in various scenarios.
What opportunities for growth has ANA Seguros identified within the Mexican car insurance market?

There is a great opportunity in the Mexican car insurance market, as only 33% of vehicles are currently insured. This gives us an opportunity to offer specialized products and services to different niches and segments across all economic segments in the country. ANA Seguros currently has 136 offices and a network of nearly 12,000 brokers who handle over 95% of our business. We are able to cover almost every corner of the country. This also allows us to identify the different niches and segments that require insurance and ensure we can provide the right coverage and services that they need. For example, the needs in Cancún or Playa del Carmen are vastly different to those in Chiapas. Although we specialize in automobiles, we also have branches that specialize in property insurance, medical insurance, expenses, and so on. Every branch has its own niche. Certain states like Baja California and Yucatán have mandatory insurance, and we see many opportunities there to be profitable. If the other states follow suit, this will be extremely positive for the sector.

How do you work on raising greater awareness of the importance of insurance given the perceptions of it in Mexico?

We are a socially responsible company. Many of the campaigns we develop strive to raise greater awareness around issues in the country such as violent robberies. We have different innovative policies. For example, clients who purchase an auto policy are also covered even if they are not driving; we cover them no matter the vehicle—a bicycle, golf cart, and others. Insurance companies sometimes have a reputation for not paying; however, this is not what we believe in. We want people to feel comfortable with the service they are receiving and be confident that they will be covered in the event of accidents. The issue of civil responsibility is becoming increasingly delicate. Obviously, we hope no one ever has to end up requiring insurance, but in such situations, insurance can make all the difference. The best insurance is the one that you never have to use.

What investments is ANA Seguros making in the area of technology and innovation in insurance?

Our company is practically 90-95% digital. We have an app and over 2,000 web services, with micro sites, automated charging, quotes, and more. We have a virtual office for our agents to upload their proof of payments or payment follow ups, an app for insurers, and virtual evaluations with AI. ANA Seguros is the first company to use that many digital services in Mexico. If a policy owner has an accident late at night or somewhere remote, our technology enables an assistant to take control of their phone with their authorization and call for assistance directly. Our technology can also tell customers exactly what car parts need to be replaced, how much it will cost, and more purely by looking at a photo that they send us. We coordinate the interaction between the customer, the mechanic, the agent, the spare parts buyer—basically everyone involved in the process. There is constant follow up from the moment a customer makes a claim until their car is fixed. We are entering an interesting period using data science whereby we can anticipate any situation or be well prepared . Despite all this, however, this is still a business of people, which is why maintaining excellent relationships in our network is key.

What main projects will you focus on in 2024?

Now, ANA Seguros is ranked 10th in the auto segment, and the goal is to rise in rankings among other insurance companies in the coming year. We hope to do this with new innovative products and by opening new channels with agencies, new collaborators, and SMEs. We are focusing on the main cities in the country, namely Mexico City, Guadalajara, and Monterrey.

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