MAPFRE Insurance: Making insurance simple with less cost and increased relationship

Direct One Brazil

Entry Information

Country where program ran: Brazil
Program start date: 10/01/11
Program end date: 02/28/13
Advertiser/Client Name: MAPFRE Insurance
Product/Service Description: Insurance
Category: Insurance (IS)

Strategy

Business problem

Brazil ranks the 18th. position in the international insurance market with an average per capita expense of U$300 a year, an extremely low sum compared to the U$2.5 thousand spent in the developed countries. Among the reasons that justify that difference, the most remarkable are the consumers average income, the lack of education regarding risk management, the perception of the services quality being below expectations, the complex contract language and little innovation in the relationship management with insurees and brokers.