Julian Abascal Alvarez

General Director
Banorte Annuities

We improved our profit indicators and value for our clients. We already service 38% of the annuities market in Mexico.

Julian Abascal Alvarez

General Director
Banorte Annuities



Profit indicators and value for our customers were improved this year. Profits increased 36% in the year, while return on capital (ROE) reached 30%. We have managed to achieve that 75% of our clients have a credit for annuities with life insurance. We already service 38% of the annuities market in Mexico.

The automation of key processes, in particular verification of the individual, allowed us to improve timing the suspension of pension payments.

We increased detection of people who have passed away by 30%, allowing us to release reserves in a timely manner.

We were the first to sell loans over the telephone. With our Annuities Loan product, we achieved an average term of 6.8 years, against the 5 years of last year, and with that we are approaching our goal of 7 years.

We created a model to determine the types of annuities that will best suit the company and thus participate in social security system pensions auctions with a better analysis of the information.

We have a process to opportunely detect possible differences between assets and liabilities thereby improving our solvency margin.

An application was launched for new customers, which allows us to register them into our system remotely via a mobile device (tablet) operated by a customer service executive.

A reduction in customer service costs was achieved, as a result of the leverage we obtained with the Afore’s customer services offices. Our offices were reduced from 25 to 5, but we increased the number of service centers with 40 major customer service offices of the Afore XXI Banorte in Mexico. The average customer service cost dropped 27%.

We redesigned the training program for Customer Service executives, in order to provide more hours of classroom training.


Our calculations show that we will reach our goal of doubling our profits, which was planned for 2020, in 2018-2019. We are conducting a mortality study to make a better selection of pensions.

The restructuring of investments to mitigate asset-rating risks and maintain positive solvency margins continues.

We continue implementing tools to detect deaths in shorter periods of time and opportunely suspend pension payments.

The scheme for commissions and sales incentives continues to be improved, to establish a more profitable relationship with customers.