State-owned insurer UNIVida nearly doubled its profits in 2023

The Personal Insurance and Reinsurance company UNIVida SA generated a profit of Bs 70 million during last year, almost double the amount obtained in 2022 when it reached 36.8 million.

"The 2023 management we have closed with more than 70 million bolivianos of profit which surpassed the most important result of 2022 which was 36.8 million. 2022 and 2023 are the most important historical milestones for the company", said the general manager, Larry Fernández, during the Public Accountability Hearing.

The figures obtained in the last two years are higher than those generated in previous years. According to the graph presented by UNIVida, in 2021 it had a profit of Bs 3.1 million; in 2020 it reached Bs 17.3 million and in 2019 it was Bs 11.4 million.

Fernández also assured that corporate profitability was improved based on ROA (Return on Assets) and ROE (Financial Profitability); it counts on diversification and corporate self-sufficiency.

SOAT

Regarding the sale of the Compulsory Traffic Accident Insurance (SOAT), he said that the quality of service in the commercialization and attention of the insurance was boosted, exceeding 1,590,764 policies sold during 2023.

And as of February 14 of this year, 1.35 million SOATs were sold. Of these sales, 26.3% were made through digital media and 73.7% in person.

QR payments (SOAT) were made effective for the purchase of SOAT through digital channels, UNIVidaApp and the Web Page.

Likewise, claims and prevention services were improved with the reduction of the claims settlement period with respect to the standard (15 days).

In addition, he informed that since 2022 UNIVida promoted together with other public and private institutions the Prevention and Road Safety Campaign "No te distraigas, cuida tu vida", which aims to promote good practices of drivers, passengers and pedestrians in the national territory to improve road safety.

Prevention

As part of the prevention plan, which not only seeks to reduce the accident rate in the country, but also makes it possible to generate a set of activities and make a set of donations.

For example, he said, the accident rate in vehicles dropped from 64.5% in 2022 to 54% in 2023. "We do not attribute this result to ourselves as UNIVida" but it is a result that has been promoted by the Police, the Vice Ministries of Citizen Security, Consumer Defense, Transportation, Health and Pensions and Financial Services.

Last year, UNIVida delivered 2,140 large cones, 265 flashlights, 294 luminous batons and 188 alcohol sensors (breathalyzers) to the Police in the departments of La Paz, Cochabamba, Santa Cruz and Tarija.