RELEASE: Jacobo Bazbaz: In 2023 the insurance sector requires 4 elements that allow innovation

(Information sent by the signatory company).

RELEASE: Jacobo Bazbaz: In 2023 the insurance sector requires 4 elements that allow innovation

(Information sent by the signatory company)

Madrid, December 27, 2022.

The executive Jacobo Bazbaz comments on the perspective of the insurance sector in 2023

Globally, 2022 was a difficult year for the different economies and productive sectors, but above all for the population in general. As a result of the various problems, the population has faced situations for which they were not prepared, however, this period has worked for people to take into account the risks they face every day, encouraging the culture of prevention. In this regard, Jacobo Bazbaz, a leading executive in the insurance sector, commented "the culture of prevention among people is very important, since in the event of an unforeseen event stability can drastically change. Insurance is financial support that allows activities to be carried out that we enjoy the most with the security of being supported". Below is a summary of what was said:Regarding the main reflections on the economic environment of 2022, the interviewee commented: "2022 was the year of failure in economic projections. Almost everyone, both on Wall Street and the central banks, were wrong in their forecasts. Inflation was not transitory, it was not an easy year. There was a lot of volatility to some extent due to war conflicts. Bonds had their worst performance in many years. The great lesson of 2022 is that you have to be prepared for the unexpected "Regarding the characteristics that the insurance industry should consider in 2023, the executive pointed out: "Product innovation is very important. You have to create products that make a difference among the population. Simple and specific products to the needs of each individuals and that companies can support their employees with these developments, from protecting themselves from illnesses to protecting assets, with products at a reasonable price. Affordable ios". Another important topic is "Strategic Alliances, the world is one of collaborations. It is the appropriate way to reach new segments. Alliances have shown that they are a vehicle to promote prevention and therefore an essential factor that can save lives." "The culture of prevention. In many Latin American countries, only 1 person in 10 has insurance for major medical expenses and only 3 cars out of 10 take out car insurance. It is necessary to focus on teaching how insurance works, regardless of the insurance you choose or the agent you go to." Finally, adaptability to change. "Many consider insurance to be expensive and complicated, appointments with agents, a lot of time invested. At this time, TikTok and Discord should be new vehicles to promote a culture of prevention." Finally, he emphasized: "the best thing is to have a prevention policy and structure budgets accordingly. It is to be expected that inflation will slow down more scheduled for the end of the year, but debate about the drop in GDP growth". Jacobo Bazbaz Sacal He is a leading executive in the insurance sector in Latin America. He works in various private sector companies, including Interprotección.

ContactContact name: Antonio JimenezContact description: Antonio JimenezContact phone: 17869093122

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