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GNP car insurance: everything you need to know

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GNP Auto Insurance: everything you need to know

Which insurer and which insurance to choose is a fundamental decision when you buy a car. Literally, what you decide is going to haunt you for a year. To choose well, it is best to have all the information available about an insurer and the products it offers.

And although suddenly it seems that there are many options and that they are all in constant battle to attract our attention, it is easy to find the one that best suits us.

To help you in this important decision, in GURO S we are collecting all the information we can about different insurers and at In the end you are the main beneficiary.

This time we will review with you the characteristics of the auto insurance from GNP, one of the most important Mexican insurers and with greater market share in various lines of business.

1. GNP Auto Insurance

1.1 Types of vehicles for which GNP offers auto insurance

GNP offers coverage for the following types of vehicles:

  • Automobiles
  • Pickups
  • Motorcycles

1.2 Uses of vehicles insured by GNP

Additionally, GNP comments that coverage for auto insurance is only available for types of vehicles that meet the following uses:

  • Private (personal use)
  • Cars entering Mexico as tourists

Other types of vehicular use must be subscribed on a case-by-case basis with the support of the GNP subscription area or with the support of one of the GUROS advisers.

1.3 GNP Auto Insurance Packages and Coverages

Like most insurers, GNP offers the most common packages for auto insurance:

  • Wide
  • Limited
  • Civil Liability (CR)

If you are interested in knowing how the coverages offered by the 3 GNP auto insurance packages differ, we present a table / summary with the most relevant:

We invite you to consult the details of all the coverage of auto insurance in the GUROS Blog so that you can make the best decision according to your needs.

Compulsory insurance GNP rating

Grade 8. 35 (Ranking: place 18 of 23)

Remember that we consulted this rating in the Condusef Financial Entities Bureau, a tool that evaluates financial entities. In the case of auto insurance and insurers operating in Mexico, the rating depends on the Claims and Controversies received before the Condusef, as well as the Sanctions that it applies to them.

GNP offers the Standardized Basic Automobile Insurance (its product that offers what is required by Compulsory Civil Liability Insurance ), with the basic requirements that by law, all vehicle owners must comply to circulate on federal roads .

As you can see, for this coverage GNP obtained a rating of 8. 35 (of 10) to fill the position 16 of the 23 insurers that offer this product .

1.4 Deductibles and insured amounts of GNP auto insurance

The 3 auto insurance packages will charge you the same (as long as the coverage is included) and they will cover the same amount. The difference is for what type of claims they can help you.

1.5 General conditions of GNP auto insurance:

To consult the general conditions of GNP auto insurance, Click here.

1.6 Quote of the GNP auto insurance for

To make things easier for you, in GUROS you can see the quote for the three most popular GNP car insurance packages.

For this article, we take the list of the 10 best-selling models in Mexico and we quote how much the 3 GNP packages cost at an annual payment, with the Postal Code 06600 , from Colonia Juárez in Mexico City as reference.

1.7 GNP accident and road assistance telephone number

If you have contracted GNP auto insurance and need to report a claim, the telephone numbers you must contact are the following:

  • If you are in Mexico City and the Metropolitan Area: 3795 9000
  • From the Interior of the Republic: 01 (55) 5227 06600

Remember to follow the instructions step by step in our Guide of car accidents so that the damages suffered are the least possible.

1.8 Other insurance and coverage offered by GNP

Being an insurance company of multiple branches, GNP has several products and insurances for:

  • Home
  • Medical expenses
  • Life
  • Property damage
  • Savings and investment products for education and retirement.

In the automobile branch, in addition to the aforementioned packages (Comprehensive, Limited and Civil Liability) offers:

  • Tourist Cars
  • Auto Elite (Additional coverage to Comprehensive package)
  • Adaptations, Conversions and Special Equipment , covers wheels, stereo, speakers and sunroof that suffer damage due to accidents or Total Theft.
  • Auxiliary protection for damage to the interior of the car caused by theft or attempted theft, derived medical expenses or theft of glass.
  • Substitute car to continue with your activities with a period of 10, 16, 019 or 31 days in case of theft or accidents that cause damage to your car

In total, GNP has has 31 types contracts for automobile insurance in the Register of Insurance Adhesion Contracts (RECAS) of the Condusef. These are divided into resident, legalized and border auto products.

2. Information about GNP

2.1 General Information

GNP, the insurance company we all know, is the result of the strategic alliance between two of the oldest insurers in the country and is part of one of the most important business groups in Mexico.

The alliance of La Nacional Compañía de Seguros sobre la Vida (founded in 1901) Y

Seguros La Provincial (founded in 1936) gave birth to Grupo Nacional Provincial, SA in 1969. Three years later, in 1972, GNP se would integrate the business conglomerate of Grupo BAL.

Some information about the insurer:

Countries in which it operates

Despite having alliances and agreements with insurers from different countries of the world, GNP is a company 100% focused on Mexican markets, with offices established throughout most of the country.

Number of clients and / or volume of premiums (total business)

According to the data of the AMIS (Mexican Association of Insurance Institutions), during 2017, GNP had operations for a total value of , 831 million pesos in premiums in all the branches in which it operates.

Ranking in the Mexican insurance sector

The above numbers place GNP in 2nd place in the global ranking of insurers in Mexico, with the 10. 65% of the Mexican market.

For the automobile industry, it occupies the same 2nd place, with the 12. 4% market share.

2.2 GNP financial information

The main financial indicators of the insurer are the following:

GNP combined technical ratio

The Combined Ratio (also known as the Combined Technical Ratio or Combined Index) is the operating result of each insurer.

In 2017, according to your Report on Solvency and Financial Condition 2017 , GNP had a Combined Index in all branches of the 107%; same as uploaded to 111% when taking into account only the automobile sector.

Billing, cost per claims and loss ratio of GNP Seguros

In its Corporate Social Responsibility Report 2017 , GNP reports a turnover of $ 50, 831 million pesos of premiums.

On the other hand, the cost of claims in the same period reached $ 36, 444 millions of pesos. Its loss ratio was 65%.

In the automobile sector, GNP invoiced $ 12, 768 million pesos in (that is, the 23% of your total billing). Whereas, due to claims, in that branch he accrued $ 8, 132 million pesos, almost the 64% of the total.

Financial valuation

As one of the most important insurers in Mexico, GNP has a certification of the American rating agency AM Best , available on the website of the Mexican stock exchange:

  • Best's Financial Strength: A –
  • Best Issuer Credit: a –
  • National Scale: yy .MX
  • 036

    2.3 Information on the quality of GNP care

    We use different official bodies to measure the quality of claims service from each of the insurers.

    These are the ratings GNP has received:

    Index of User Service Performance (Condusef)

    GNP had a score of 7. in the Condusef User Service Performance Index. With this it reaches the position 27 of 79 insurers of which there is a record, according to the accumulated 2017.

Claims before the Condusef

In the first quarter of 2018, GNP was the second insurer with the most claims before Condusef. In the «Automobile Damages» branch, he received 849 claims , the 15. 6% of the total of all insurers.

Although the Condusef does not specify what were the causes of the claims, although the most common are usually:

  • Refusal to pay the compensation
  • Disagreement with the time for payment of compensation
  • When the user presents a disagreement with the repair time of the affected good

Claims submitted on the total of claims attended

In the same first quarter of 2018 attended a total of 92, 0 036 claims, and if we compare them with the 849 claims, we have a rate of 0.9% claims.

Sanctions imposed

According to your CSR Report 2017 , page 33, GNP received 22 sanctions from different authorities last year. These penalties have a total value of $ 1 million 393 thousand 019 pesos.

While the portal of Bureau of Financial Institutions mentions that during 2017, GNP was applied 26 penalties for $ 849, 586. Of this, 12 were for not presenting documents, items or specific information. 4 were for failing to appear at a conciliation hearing. 2 sanctions were for not presenting a report and 7 for other reasons.

Finally, a report from the National Insurance and Surety Commission published on 31 June 2018 , records that in the last 18 months has suffered a warning and two fines for a total of $ 75, 037 pesos for presenting incorrect risk, statistical and actuarial information.

Average valuation to adjusters

The average evaluation of GNP adjusters is 2.9, taken based on the evaluation of 75 adjusters . This rating is below the overall average of 4.2.

2.4 Added GNP values ​​

Here are the added values ​​of the insurer for auto insurance:

Payment options at 3, 6 and 11 months without interest

Own workshop network

Mobile app

GNP has several mobile applications for the different types of insurance offered. In the case of Auto Insurance, there is Conecta Móvil, available for iOS and Android .

To register you must be a customer. Do not forget to have the policy number on hand to report a claim. Likewise, you can request road assistance with a button.

In the same way, allows to know the distance to which the assigned adjuster is located and know the location of different services such as hospitals, corralones or gas stations. In addition, it allows you to follow up on the car repair or the request for the reimbursement of Major Medical Expenses.

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