A study shows that Cali's insurance market reaches 2.11 trillion pesos in personal insurance and 1.91 trillion in business insurance, highlighting gaps in the commerce sector. Over 55% of commercial companies lack coverage, while mobility insurance leads in the personal segment. The analysis, conducted by Aseguradora Solidaria, emphasizes the role of low and middle socioeconomic strata in this market.
Cali's insurance market is establishing itself as a key hub in southwestern Colombia, with a total value exceeding 4 trillion pesos in 2026, according to a study by Aseguradora Solidaria published on March 12.
In the business sector, significant disparities are noted across industries. While 93.6% of services companies and 89.8% of manufacturing firms have insurance, only 44.8% of commerce businesses do, leaving over 55% unprotected. Samanta Arango Paredes, the study's lead, explains: “In Cali, many companies buy insurance because it is required by a contract or legal obligation, but there is still a need to advance toward a more strategic view of insurance as a tool to protect business growth”.
For individuals, the 2.11 trillion pesos market focuses on everyday coverages, with mobility insurance accounting for 37%. Within this, all-risk vehicle policies total 640 billion pesos and SOAT, 150 billion. Arango adds: “In many Cali families, the vehicle is a fundamental part of daily economic activity. For many households, it is not just transportation, but also a work tool”.
The socioeconomic distribution reveals that low and middle strata drive 92% of the personal market: 1.03 trillion in low, 905 billion in middle, and 168 billion in high. “Often, insurance is thought of as a product for higher-income segments, but the data show otherwise: in Cali, the market mainly moves in low and middle strata. This requires the sector to design more accessible and modular solutions”, states Arango.
Emerging trends include pet insurance at 12.4% of the market, alongside funerals (20.6%) and life (19.9%). The expert concludes: “The sector's opportunity lies in bringing insurance closer to people's daily lives. When citizens understand how insurance protects their work, housing, business, or what matters to them in general, it completely changes how they relate to it”.
The study highlights gaps in risk protection for businesses and citizens in the city.
