SAÚL RUIZ VÁZQUEZ

Mexico 2021 | FINANCE | INTERVIEW

Despite the difficult conditions, Asesores Senior achieved success due to its digital investment and the perseverance of its team.

Saúl Ruiz Vázquez
BIOGRAPHY

Saúl Ruiz was born in Mexico and is an industrial engineer with a specialty in business administration. He is a prestigious insurance broker and transforms corporative leaders into successful entrepreneurs. He is dedicated to increasing financial education in society.

You are a young executive; how did you enter the insurance market?

I started my career as an entrepreneur when I was 29. I wanted to do something for someone else or the country. When I was in secondary school, I went to help people in a remote area in the state of Veracruz. I was there for a week and fell in love with the people; I realized I wanted to do something that benefited people. I saw an opportunity to be an insurance broker and was able to offer my brand and invite other people to contribute for the benefit of society. I then found a job that allowed me to help people and establish a business. There are two perspectives: the business and helping people. When I generate business, I also help my collaborators and partners to generate jobs, so I continue to help. The insurance sector is a great business. Previously, I was an employee of an important pharmaceutical company, and I realized businessmen need to take risks. When starting my business, my bosses, directors, relatives, and friends told me I was making the wrong decision. They questioned how I could become an entrepreneur in insurance, a sector that is in bad shape. Most people do not have insurance or purchase insurance because they do not fully understand the product. They might have home or vehicle insurance but do not consider other insurance possibilities.

Asesores Senior has a presence in five cities. What are your expansion plans?

When we developed our website, we said we had to be present in five cities within five years. We are currently in nine cities as of end-2020. The intention is not to limit ourselves to just to a circle or just Mexico City. There are many people who need help. If I meet an individual who wants to open in Xalapa, I will say go ahead, and we will try to start operations there. Right now, the real strategy for the next year, in addition to opening new cities, is to have a presence in 15 cities within the next two years.

What business changes did you implement because of the pandemic?

In the first week when the restrictions were announced, I was shocked. Our business is done face to face, and even face to face, it is difficult to sell insurance. It is a huge challenge, but we invested in technology. We developed a virtual advisory service to generate trust among our clients. It was an important investment and is not an app, but a website. We try to serve people from their homes. We have created a user-friendly website for our users. Our challenge was not only convincing prospective clients, but also our partners as well that it could be done.

What growth do you expect for 2020 compared to 2019?

At the close of October, we have grown by 30% compared to 2019, and we expect to grow by 60% by the end of 2020. We have partly achieved that not only due to our digital investment at the beginning of the year, but also due to the shift in mentality. We managed to motivate our investors and made them believe this could be done. In the last two years, we have achieved double-digit growth. Our first year we achieved triple-digit growth. Perseverance is the key to this success.

What is your vision for 2021?

Our vision will not be the same as it was in 2019. In 2021, we will continue to invest in technology, and we will combine what we did in 2020 and 2019 to achieve greater growth. We now have a more efficient system thanks to our investment in technology and our interest in consuming less paper and using digital resources. There is now less paperwork in our processes, and that saves time and is better for the environment.