Despite the fact that in 2020, car sales collapsed due to the closure of activities and some people canceled their policies, Quálitas had a 22% growth in its net profit with 6,798 million pesos, the highest figure in its history.
José Antonio Correa, general director of the company, says that before the closure of activities, the Tuco company had to provide payment facilities for its customers such as interest-free months and the companies that have fleets of cars reduced certain coverage to lower the prices of your policies.
The low mobility of 2020, caused there to be fewer accidents and this in turn reduced the accident rate.
“Accidents decreased during the pandemic but one of the things we noticed is that as the economy began to open up, the number of accidents continued to decline but their severity was greater,” Correa said in an interview.
Quálitas recorded that since October 2020, car claims began to have an upward trend and this represents a risk for the company in economic terms since auto parts have become more expensive up to double digits.
Correa says that the average repair cost in the insurer ranges from 5,000 pesos but can go up to 400,000 pesos, depending on the type of car.
“Imported vehicle parts have risen to double digits, I’m talking about between 12 and 14%; a year ago the peso was close to 23 pesos and automakers normally make adjustments in their repairs,” added the manager. .
In addition, the technology that automakers add to their vehicles will pose a challenge in the future with the penetration of electric cars and autonomous cars. Although the automotive industry has achieved greater efficiency in batteries and components, currently the most expensive repairs occur on hybrid cars.
In 2020, the use of bicycles in Mexico City increased by 20%, according to Inegi figures, despite this Quálitas does not consider the insurance of this type of transport despite the fact that there are such specialized bicycles whose cost is of several thousand pesos.
“We are interested in insuring everything that has to do with mobility, but we are hoping that there is a sufficient demand why clients do not seek to insure this type of transport either,” Correa said.
Where there has been a greater interest in insurance is in motorcycles, where they have managed to capture 20% of the national market.
