The Rise of Electric, Hybrid, and Plug-in Vehicles in Mexico
Nearly 49% of Mexicans plan to acquire an electric, hybrid, or plug-in vehicle in the near future, according to a Grupo Interesse analysis on how electromobility is reshaping the Mexican insurance market.
Key Challenges for Insurers
- Battery Vulnerability: Insurance companies must address the risks associated with battery degradation and replacement.
- Specialized Services Lack: There is a shortage of specialized services tailored to electric vehicles.
- Electric Incidents and Cyber Threats: The connectivity of these vehicles exposes them to electric incidents and cyber threats.
In response, insurers are offering specialized policies, electric system coverage, digital management tools, and differentiated technical assistance.
Experts’ Perspectives
“Electromobility not only redefines how we travel but also compels the insurance sector to innovate in products, services, and customer care models. The key lies in achieving a balance between security, accessibility, and sustainability,” said Juan Carlos Alonso, Partner and Director of Autos at Grupo Interesse.
Diana Avalos, General Director of the Mexican Association for Electric Vehicle Promotion (AMIVE), noted that “in the last five years, electric vehicle growth in Mexico has been exponential, driven by reduced battery costs and the economic savings they offer compared to combustion engines.”
Building a Solid Ecosystem for Successful Transition
The transition to electric mobility in Mexico is progressing steadily, with more consumers seeking sustainable alternatives. However, a robust ecosystem involving manufacturers, insurers, public sector, and service providers is essential for a successful change.
“Specialized insurance is crucial for building user confidence and accelerating adoption,” emphasized the Grupo Interesse director.
The main opportunities, according to the executive, are updating risk models, expanding service infrastructure, and strengthening the sector’s response capacity.
Anticipating Future Scenarios
The challenge is not only to cover current risks but also to anticipate future scenarios. Technological adaptation, specialist training, and collaboration between insurers, manufacturers, and authorities will be vital to establish a secure and reliable electric mobility ecosystem.
Grupo Interesse’s Commitment
With this vision, Grupo Interesse reaffirms its dedication to providing strategic knowledge and solutions that will strengthen the Mexican insurance market and support the challenges of future mobility.
