by Denise Bueno

Latin America is a region with 665 million people, an average age of 30 years, according to 2021 data, and in which 63% of its population is between 15 and 59 years old. “Without a doubt, these numbers show the enormous potential for growth and consolidation that the insurance sector has in a varied environment and in which each country has its own particularities in terms of macroeconomics and political situation”, says David Colmenares, commercial director for Latin America from Allianz Commercial, who participated in the Digital Transformation panel this afternoon, during Fides Rio 2023.

In conversation with Sonho Seguro, he stated that these numbers reveal the great challenge of having plans that include a broad strategic approach combined with high-impact local execution, which takes advantage of new technologies, data mining, artificial intelligence and digitalization to offer better answers in less time, without losing sight of a maxim of our sector: we are a business of and for people.

Regarding trends and opportunities, the executive believes that it is necessary to continue working to consolidate the insurance culture in the region. “There are still countries where insurance is seen as an expense and not as an investment, and this is noticeable, especially in the retail market. On the other hand, in the product offering that we manage at Allianz Commercial for our corporate or enterprise clients, we have great potential to continue to address the insurtech model, as well as insurance for the energy transition and for directors and administrators to mitigate the risks associated with senior management ”.

The group took advantage of Fides Rio 2023 to launch Allianz Commercial operations throughout Latin America. The announcement is the result of Allianz companies joining forces in Argentina, Brazil, Colombia and Mexico with Allianz Global Corporate & Specialty (AGCS), with the aim of serving commercial insurance clients with a unified approach to the market.

Led in Latin America by David Colmenares, Allianz’s businesses in Argentina, Brazil, Colombia and Mexico operate under the trade name of Allianz Commercial to offer an integrated approach to mid-sized companies, large corporations and specialist risks across the region.

Globally, Allianz Commercial is structured into eleven regions, each led by a Commercial Director who manages the integrated business for clients and brokers with a unified and consistent commercial approach, offering a broad set of solutions.

“The new regional structure gives us an ideal presence in all major markets around the world – and now in Latin America. We will be able to fully engage in the market with a consistent approach, offering advanced product solutions, based on global industry and underwriting knowledge, and delivered with local market knowledge”, comments Allianz Commercial CEO, Joachim Mueller.

Colmenares highlights that Allianz Commercial is the answer to the needs of a region that, like Latin America, is full of opportunities and great potential, combined with a unique context. “Thanks to our proposal, which includes the combination of global support from the Allianz group and the technical and specific knowledge of our local teams, we will consolidate our position in the market with a talented team focused on service.”

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