The annual GEB Latin America Meeting took place on April 2015 in Cancún, Mexico. During the 3-day event, representatives from GEB and the Generali Group met with partners, clients and experts to discuss latest market trends and share our strategy in the region.
With its steady GDP growth and expanding middle class, Latin America represents a significant opportunity for investment. The insurance industry has been growing strongly over the last decade, with still great potential ahead.
If employee benefits traditionally play an important role in complementing state social security systems, the war for talents further highlights the importance of reward. Due to a widening gap between skills needed and skills available in the labour market, talent shortage and retention of skilled employees are becoming a top priority for employers.
Expert panels in the agenda focused on most effective solutions to the challenges ahead.
Companies in Latin America have to deal with strong regional differences, from countries with a high-ranking business environment like Chile to countries characterised by stronger state interventionism as in Ecuador, and even with differences within the same country, particularly in larger ones like Mexico and Brazil.
Flexible design allows to integrate these differences in varied types of benefits in the same plan and to enhance cost control and optimisation. Customised benefits portfolio can further help link the local and global perspective, by facilitating adjustments to changing regulatory requirements and local market conditions while ensuring consistency within the corporate framework.
The event programme further included case studies on specific countries such as Peru, where our network is top leader in the market. The objective of these sessions is to favour knowledge transfer and sharing of best practice across the world.
Service excellence and innovation, along with strong network coordination, characterise GEB reputation across Latin America, where over time we have identified and partnered with best local providers, all with exclusive network agreements, to ensure consistently the highest quality to our clients. The dedicated presence of GEB staff coordinated by the regional office in Miami, further strengthens the capacity to provide insight on emerging trends and opportunities.
During a round table, organised in collaboration with AmericaEconomia, Americas Market Intelligence and the Mexican Business Council for Foreign Trade, Investment and Technology, guest speakers presented emerging opportunities for companies in Latin America and the evolution and international expansion of Multilatinas companies.
GEB is actively supporting the so called Multi-latinas or Global Latinas, regionally based firms that have expanded abroad, by facilitating their access to GEB Global network and providing assistance to scale up their HR operations worldwide. This has been made possible by the development of solutions specifically designed for international small and medium size companies, leading to the launch of a multi-employer pooling solutions (the Generali Multi Plan).
GEB would like to thank all partners and attendees that have greatly contributed to the success of this year Latin America Network Meeting. We look forward to continuing our collaboration with you.