The insurance market in Mexico relies on a variety of sales channels, each with unique characteristics that influence how policies are sold, managed, and distributed. According to the Comisión Nacional de Seguros y Fianzas (CNSF), the main channels range from traditional individual and corporate agents to digital platforms and physical sales modules.
Understanding the differences between these channels is essential for brokers, agents, and insurance professionals seeking to optimize strategies in a competitive market. Channel performance also varies depending on coverage types, including Life, Non-Life, Accident, Medical Expenses, and Health insurance.
Overview of Insurance Sales Channels in Mexico
Individual Agents are licensed professionals who sell insurance directly to clients, earning commissions for their sales. They may represent one or multiple insurers and provide personalized service and advisory support.
Corporate Agents are legally constituted companies or partnerships acting as intermediaries for insurers, leveraging their personnel and networks to distribute policies efficiently.
The Bank Branch Network or Bancassurance uses bank locations to sell insurance to clients, often bundling policies with financial services like loans, credit cards, or savings accounts.
Internal Sales Forces consist of the insurance company’s own staff dedicated to direct sales without relying on external intermediaries. This team operates in offices, branches, or in-field channels.
Other Mass Distribution Channels include retail and commercial outlets, such as supermarkets and department stores, allowing insurers to reach large volumes of customers efficiently.
Automotive Dealerships sell insurance linked to vehicle purchases, where policies are offered as part of financing or purchase packages.
The Internet channel primarily refers to external digital platforms or “pure players”, including comparison websites and marketplaces. This channel enables clients to quote and purchase policies from multiple insurers online. Direct sales through the insurer’s own website are generally considered part of the internal sales force.
Payroll Deduction channels sell insurance via agreements with employers, with premiums automatically deducted from employees’ salaries. This method improves collection efficiency and supports group insurance penetration.
Commercial Enterprises bundle insurance with products or services, such as electronics retailers providing coverage for purchased devices.
Telemarketing leverages direct contact through calls or messages, supported by targeted marketing and client databases.
Sales Modules are physical points of service, often located in high-traffic areas or shopping centers. Advisors provide information, quotes, and policy issuance on-site, offering convenient access to insurance products.
Premium Distribution by Sales Channel in 2024
The distribution of premium volumes in Mexico during 2024 shows notable patterns across channels. Corporate Agents led the market with 29.5% of total premiums, closely followed by Individual Agents at 28.6%. Bancassurance contributed 16.3%, while the Internal Sales Force accounted for 8.1%. Other mass distribution channels represented 6.3%, and Automotive Dealerships contributed 4.3%.
Digital intermediaries or Internet pure players captured 2.7% of premiums, reflecting their growing but still limited role in the market. Channels such as Payroll Deduction, Commercial Enterprises, Telemarketing, Sales Modules, and Microcredit together accounted for less than 5% of total premium volumes. It is important to note that channel performance varies significantly depending on the coverage type, and the figures above represent averages across the entire insurance sector, including 52 coverages spanning Life, Non-Life, Accident, Medical Expenses, and Health.
Data and Methodology
This analysis is based on more than 37 million policy records issued or active between January 1 and December 31, 2024, including new issuances, cancellations, reinstatements, endorsements, and other policy movements. Data was compiled and analyzed by RankingsLatAm.com, using policy records.
Access the Full Report
A complete version of the report is available for download, including a free overview and a professional edition with detailed breakdowns of each channel and each of the 52 coverage types analyzed. Access it here: Insurance Distribution Channels in Mexico – RankingsLatAm.com.