Transcript Superintendencia de Seguros y Reaseguros de Panamá

SUPERINTENDENCIA DE SEGUROS
Y REASEGUROS DE PANAMÁ
MONITORING IN THE INSURANCE INDUSTRY EXPERIENCES
(UNOFFICIAL ENGLISH TRANSLATION)
STATISTICS
 Information dating back to the year 2000
 Two different methods:
o INUSE (Sistema de INforme Único de SEguros)
o Periodical reports direct from insurance companies
 Periodic publication in the SSRP’s web site.
STATISTICS
 Financial
 Annual Statistical Bulletin
 Market
 Comparison of Written Premiums, Incurred Claims and Insurance Policies
 Ranking of Insurance Companies by Written Premiums
 Technical
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Solvency Margin
Technical Results
Insurance Companies’ investments
Cumulative information of Written Premiums and Incurred Claims
Late Payments
OUR GUIDELINES
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Only relevant information
Harmony in presenting the information
Unification of data format
Zero tolerance for errors
Double checking our information with the proper departments
Innovate, and check publication trends
INUSE
 6203 accounts
 Quick Access to the database
 Financial Statements (Cash flow, Balance Sheet, Profit and Loss Statement)
INUSE
 Current Upgrade
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Connection to Insurance Companies’ databases through VPN
More dynamic and faster communication with Insurance Companies
Publication of Statistic Information will take less time
Less errors
More flexibility
LEGISLATION
 Law 12, 3rd April 2012
Periodic publication of statistical information on the
development of the supervised consumers’ operations.
Artículo 229. Informaciones estadísticas. Para efecto de supervisión y control, las
aseguradoras mantendrán prácticas de presentación que reflejen apropiadamente la
solvencia de la aseguradora y los resultados en cada ramo de seguros, separadamente.
Igualmente, llevarán las informaciones estadísticas que señale la Superintendencia y la
remitirán a esta dentro de los primeros quince días de cada mes. La Superintendencia
señalará, por medio de resoluciones, los límites y lineamientos necesarios para cumplir
con las disposiciones de este artículo.
ACHIEVEMENTS
 More media presence
 Confidence
 Better response times
PROJECTS
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Premiums and Claims forecasts
Add more interesting information for consumers
Infographics
Tighter controls for report submissions by Insurance Companies
New format for publications
Frequent meetings with Insurance Companies to exchange useful ideas
Way to send quicker replies to consumers’ questions