Insurance premiums – especially for cars – will rise significantly in the coming months to offset last year’s runaway inflation. That is at least what the president of Mapfre, Antonio Huertas, who participated yesterday in the UIMP APIE seminar in Santander, foresees. Last year the average CPI was higher than 8%, so that could be the percentage increase in some cases.
In his opinion, the solvency of the entities must be guaranteed with a price increase. In the same scenario, the CEO of Línea Directa, Patricia Ayuela. He has been more prudent and has stated that there are car customers who, due to their type, are not necessary.
“Costs have risen brutally and premiums have undergone a damping process, a decline in recent years to accommodate the drop in frequency that occurred in the Covid years”, recalled the president of Mapfre to justify the need to adjust the raw to the new reality. In the case of the car, the manager assured that “out of prudence” the highest costs must be included in the calculations of the premiums to “guarantee solvency and sufficient”.
In a colloquium, Huertas has criticized the anti-squatter insurance marketed by Linea Directa. The CEO of the latter has defended that there are some 10,000 complaints for squatting in Spain while there are about 16,000 fires. And she has added that no one considers not having fire insurance.
The president of Mapfre has also referred to the potential of artificial intelligence for the sector. In his opinion, it is not possible to put doors on the field and it is necessary to prudently incorporate it into the activity.
