Even with life insurance, the funeral home J García López will invest 160 million pesos to grow

After a year full of challenges and a peak in the demand for services due to Covid-19, the funeral home J García López will invest 160 million pesos to continue growing and the opening of 11 new branches of its two brands in the country, in addition to technology, grow its life insurance business, as well as pets.

The CEO of the company, Óscar Padilla, more than 23 million people have a product from themIn fact, one out of every three families prefers the services of the company and thanks to its network of correspondents, 30% of deaths operate in Mexico.

Only between January and July 2021, the funeral home registered an increase of 20% in its services, as well as 19% of its 997 correspondents distributed in the country; They also already see a rebound caused by the third wave of Covid-19, although not as aggressive as at the beginning of the year.

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“We have had a constant growth in the last 40 years, we are the only company in the funeral sector that we constantly open and we build branches, no one else does, that puts us one step ahead. One of the keywords is innovation, in all aspects, from being the pioneers of cremation in Mexico “

So next year they will invest 160 million pesos, to the construction of 10 wakes under the Santa Gloria brand to serve the lower-income segment of the population, where there are no chains that serve this segment and they want to have 1 or 3 branches in each city hall of Mexico City.

In addition to the opening of a funeral home J García López, in addition to continuing with the development of the technology platform, strengthening its insurance and product segments for pets under the name Bye Bye Friend.

“The bet is technology, bringing funeral services to all Mexican families, we have learned these 14 months, these 40 years that it is very important to get closer, develop and create funeral protection products that are closer to the families every day, that are scope”.

And they are developing a product with which from 200 pesos a month they are protectedLikewise, thanks to its various alliances with insurance companies, it allows them to place differentiators, for example, their future services include a life insurance for the holder that can be renewed with affordable installments.

The CEO of the company highlighted a business niche that he considers fundamental in his business strategy and assured that they have an aggressive plan for the next 5 years, just this year They have placed 80 million pesos, but they hope to double that figure by 2022.

While at your pet service Bye Bye FriendIn addition to cremation, they also offer to turn the ashes into a diamond.

According to the company, it reports a 17% growth in service operations, 15.11% growth in cash flow in forecasting plans and 15% global growth, but its medium-term goal is to reach 1,000 million pesos.

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