Mr. Venegas hopes that the company can make the insurance arena efficient.
“In 10 years, Rimac will still be the leader of a bigger market with a penetration of at least 2.5% of GDP. We are beginning to talk about what more we can do to educate the country and how we can secure further professionalism. Usually the people working in insurance were people who never finished university. The problem is that there is not a specific insurance program for people who want to work in insurance.”
Technology is one of Rimac’s investments: the company is changing operation systems in a bid to enter markets in a better fashion. The firm is also developing its customer service and health operations. Mr. Venegas states that the most important thing is that brokers are the most important intermediary between insurance and banks. He points out that 52% of the company’s sales came through brokers with the others made through direct “sales forces” of various kinds. These sales forces, he says, are very necessary.
“We have several direct sales forces and we have to have more than 1,500 people in sales force, but we also use non-traditional channels through banks, retailers, car dealers, etc., and some sell directly on our platforms.”