Guatemala's insurance industry offers both growth potential and some major structural barriers. The main factor limitinggrowth is the country's low average income level. In the life sector, this limits demand for savings and investment products. While inthe non-life sector, the lack of affordability means that the market remains heavily reliant upon basic, mandatory lines. The market is,however, home to a positive mix of domestic and multinational carriers, and both product ranges and distribution channels areexpanding - this means that as income rates rise, insurers will be well placed to reach potential first-time users.
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