Comparativa Anual: Análisis del Mercado de Seguros en Ecuador a Través de Datos Numéricos

This article analyzes the evolution of the insurance market in Ecuador from 2019 to 2023, highlighting the sector's importance in the national economy. The primary objective is to conduct a detailed year-by-year comparison using specific data to assess growth consistency and significant changes during this period. The methodology includes analyzing quantitative data provided by official sources, such as the Central Bank of Ecuador and the Superintendence of Companies, Securities, and Insurance. The variables analyzed include net premiums written, technical results, claims costs, and claims paid. The results show that the COVID-19 pandemic significantly impacted the market, increasing claims paid during 2020 and 2021. From 2022 onwards, a recovery and normalization are observed, with a reduction in claims paid and claims costs. However, in 2023, the market experiences a significant increase in these indicators, mainly due to high vehicle insurance claims driven by rising crime and repair costs. In conclusion, the insurance market in Ecuador exhibits an evolution marked by fluctuations due to external and internal factors. It is recommended to strengthen risk management, incorporate technological innovations, and develop sustainability policies to mitigate the impacts of unexpected events and ensure sustainable and resilient growth in the future.