Insurers form part of the everyday lives of people. Although we are not aware of it, they are behind any activity giving us peace of mind in the face of everyday unforeseen circumstances. However, there is still a great deal of ignorance in society of the importance and impact of insurance companies.
As the insurance business association UNESPA highlights, the insurance industry has become an indispensable part of the engine driving the economy. Its importance in GDP (approximately 5.5%) should be highlighted, but one of the most important aspects is the volume of capital managed. According to data from the ICEA (Cooperative Research among Insurance Companies and Pension Funds), in the first half of 2017, insurance companies managed more than 223,400 million euros from its customers.
The following news item gives more details to put the importance of the insurance sector into context. The importance of the sector must be understood to promote ethically exemplary management for it.