Even after more than eight decades of providing general insurance for optimum financial protection and risk management, non-life insurance giant MAPFRE Insular still finds new and innovative methods to serve the needs of Filipinos. With a range of services covering motor vehicle, fire and allied lines, personal accident, casualty, liability, engineering, marine cargo, and surety, the company has built an impressive track record in terms of both diversity and reliability.
Due to the outstanding partnership between two industry leaders, MAPFRE Insular is likewise a stellar example of “thinking global and acting local”.
MAPFRE is the largest insurance conglomerate in Spain, the leading non-life insurance company in Latin America, and the 6th largest Non-life insurer in Europe. Its local partner, Insular Life, is the first and largest domestic life insurance company in the Philippines, with over a century of financial services expertise.
Built on Trust
Needless to say, MAPFRE Insular has amassed an extensive roster of clients, distributors, suppliers, and shareholders throughout its long and remarkable history. Far more than simple familiarity, however, the ties that bind them have become stronger and more cherished over time.
“We put trust as our foremost value. Because of this, we focus on developing relationships, and not just signing contracts,” explained MAPFRE Insular President and CEO Tirso C. Abad.
Abad likewise emphasized that their groundwork of trust begins internally. “Before we ask the public to place their trust in us, we must first ensure that our operations uphold the highest standards of integrity, professionalism, expertise, and empathy,” he noted. Accordingly, MAPFRE Insular adheres to globally accepted good Corporate Governance standards and practices, including strict compliance to the five areas of the Organization for Economic Cooperation and Development (OECD) corporate governance methodology.
These practices earned MAPFRE a place among the Top Five best scoring companies according to the ASEAN Corporate Governance Scorecard (ACGS).
This approach has reaped significant benefits for the company. Apart from its reputation as the most trusted non-life insurance provider in the country, MAPFRE Insular ranks among the top non-life insurance companies in the Philippines in terms of earned premiums, net premiums written, and assets. The company is also among the highest capitalized and most solvent in the non-life insurance business in the country.
Relationships and Reach MAPFRE Insular is a testament to the adage that “the best referrals come from satisfied clients”. Given its ever-increasing client base, the company has taken determined steps to expand its reach and improve its customer engagement systems.
“At present, our company has 10 Sales Offices, 3 Delegado offices, and 7 Exclusive Agency Offices,” Abad pointed out. “By the end of the year, we are aiming to open 5 new offices in Isabela, Quezon City, Malate,Caloocan, and Batangas, with two more offices set to open in 2019.”
Parallel to this expansion, the company has made substantial investments in digital and mobile technology. “Digital transformation is now the key driver of virtually all customer experiences today,” Abad noted. “As such, one of our core strategies not only involves customer experience, but the delivery of that experience through innovative technology,” he concluded.
With a future-proof strategy and a solid foundation of values in place, there is no doubt that MAPFRE Insular is well-poised to lead the industry for decades more to come.
To learn more about MAPFRE Insular’s services, please visit the MAPFRE Insular website at http://www.mapfre.com.ph.