Identificación de las causas del crecimiento de la demanda de los seguros de vida en el Distrito Metropolitano de Quito en el periodo marzo 2016 a marzo 2020.

Abstract

Nowadays, insurance companies have had a remarkable growth, the most important factor is that they have aimed their efforts to know what the real needs of customers are, and this article aims to identify the cause of the increase in life insurance in the Metropolitan District of Quito, between 2016 and 2020. The insurance sector has maintained a positive trend in Ecuador, although people don't have the culture of taking out insurance, during the year 2017 and 2018 there is a favorable growth in life insurance of 6.5% and 12.4% respectively compared to previous years, that represents 383 million dollars, about 20% of the market share. One of the reasons is that financial institutions to approve a credit apply as a fundamental requirement, that they have life and disencumbrance insurance, even more so when they are mortgages. It is necessary to know that there is a high impact on the values paid by insurers due to the increase in claims in the life insurance industry, for example in 2016 there was a growth of 31.4% representing 120 million dollars, and while in 2019 it increased 13.8%, about 144 million dollars. On the other hand, the contracting of insurance has increased since 2019 due to the contagions that occurred due to the COVID-19 that was identified in Wuhan, China. Since then, the disease has spread in Ecuador since March 2020, causing many deaths. For this reason, people are considering having life insurance.