What is UNESPA?
UNESPA is the Spanish Association of Insurers and Reinsurers. The association was founded in 1977 and represents over 200 firms that as a whole make up 96% of this industry in Spain. These companies invoice €60 billion a year, which represents nearly 5.3% of Spain’s gross domestic product (GDP). The insurance industry handles an average of some 140,000 claims every day. These incidents range from minor inconveniences —like a flat tyre or a leak— to major challenges, such as complex surgical procedures or prudently managing the retirement savings that a person has accrued over the course of his life.
To perform their work, insurers directly employ some 50,000 people. Added to these jobs are the indirect jobs of distribution networks as well as those created within support service industries (adjusters, doctors, construction workers, electricians, lawyers, plumbers, painters, mechanics, and so on). Insurance is a first-class provider of services to society and, as such, is an important creator of work and a driver for the economy.