Q: How can AMIS and the insurance industry better support Mexico’s health system?
A: The public health system in Mexico has achieved significant results, despite the fact that in recent decades it has faced increasingly complex diseases that afflict the population. In this context, the insurance sector considers it essential to implement structural reforms that will allow us to impact the epidemiological panorama of the country. At AMIS, we have designed a proposal titled: Towards Universal Coverage of Financial Health Protection, in which we analyze the challenges we consider most urgent.
Q: What role do insurance companies play in the fight against chronic diseases?
A: The insurance sector in Mexico considers chronic diseases to be of vital importance because they impact the life expectancy of Mexicans. Our proposed document includes financial protection for management of chronic diseases. We consider it relevant to contribute with a proposal that helps the government to respond to these needs, since in recent years the costs related to treating only diabetes have risen to US$7.7 billion. We believe that prevention is key because if information campaigns are implemented for timely care, adequate treatment can be accessed.
Q: What are the main challenges of operating in the current Mexican healthcare system?
A: Mexico faces major challenges in its health system, especially chronic-degenerative diseases. However, it is possible to turn these challenges into opportunities thanks to the work of society and the public and private sectors. We firmly believe that Mexico has important elements: the country is the world’s 15th-largest economy and ranks 11th in terms of population size. It is about evaluating and realizing an appropriate strategic management. The objective of proposing collaboration scenarios between the public and private sectors is to achieve short-term protection for the 19.3 million Mexicans who do not have this right.
Q: How does AMIS promote access to healthcare in a country where access to health is a challenge?
A: With our proposal we want to show the benefits that our sector can offer to expand the health coverage and the quality of the services that are offered. The actions to effectively meet our objectives are based on three axes: population coverage, extent of coverage and services or risks covered.
Q: To what extent are insurance policies based on preventive actions a possibility in Mexico?
A: There is a gap in digital transformation both in Mexico and internationally; for this reason, the 27th edition of the AMIS Insurance Convention had as its main theme, The Client of the Future in Insurance. At the same time, each company works on the development and adoption of new technologies that bring insurance to more people. The new products must be aligned with the needs of the client, which will be the focus of the activity of the insurers. With the adoption of technology in the implementation of policies and in customer service, what we seek is to have the innovation that the industry needs to offer financial protection through insurance to the entire population of the country.
Q: What growth do you expect for the private insurance sector in Mexico and what will be the contributing factors?
A: We are a business sector that bets on Mexico and believes in its people. In 2016, we invested MX$33.4 billion (US$1.9 billion) and generated employment for more than 76,000 people. Last year, the insurance sector grew 9.9 percent in real terms and we reached MX$435 billion (US$24.2 billion) in premiums. Given current economic conditions, we expect 7 percent growth in the insurance market in real terms this year. By 2020, we expect the value to reach 3.1 percent of GDP. To achieve this goal, we have designed the Expansion Plan, which includes 16 priority projects for the industry.