Industry in Colombia
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COLOMBIA, 2013/08/13
Despite strong macroeconomic increase and rising gain over the completed decade, insurance penetration in Colombia remains low. However, major infrastructure projects are expected to generate opportunities for coverage, and providers are seeking new ways to reach the retail market.
In early 2013 Superfinanciera, the regulator of the insurance sector, announced that insurance penetration – as measured by the ratio of premiums to GDP – grew to 2.48% last year. This is one of the lowest rates in Latin America, where the average stands at around 3%, according to market participants.
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COLOMBIA, 2013/08/13
Fuelled by a large pool of available workers and advanced communication technology infrastructure, Colombia’s business process outsourcing (BPO) sector is experiencing substantial increase.
Although multinational companies are ready customers for Colombian contact centres to handle customer calls from Spain and Spanish-speakers in the US, local industry leaders argue that firms need to diversify their services and boost language skills to remain competitive in a world market.
