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EF: What insights can you share about MAPFRE's transition and the expectations for 2024 under the new strategic plan?
BV: The transition is more tied to health insurance and the pandemic. The shifts in our sector are largely influenced by the pandemic and the adjustments we've made over the past two years in response to various goals and changing behaviors. People are visiting doctors more frequently, transitioning from a focus on healing to prevention. The pandemic has played a relevant role, as access to healthcare and routine check-ups became challenging in some regions. We have observed cases where diseases are discovered too late for timely treatment. Our focus remains on providing more value to society.
EF: How significant is the health division within MAPFRE, and what strategic importance does the health sector hold for the company as a whole?
BV: In Spain, we hold the top position in auto insurance, and we are the fifth company in health insurance, a crucial and strategic sector for us since health insurance aims to become the leading sector in the Spanish insurance market within the next two years. Our reputation in the market is exceptional, particularly for providing an outstanding service. If we talk about our offer, I would like to highlight that we provide a diverse range of coverage, from basic to comprehensive health insurance, with options for copayment or no copayment. Our array of reimbursement options, especially the top product in Spain, sets us apart. MAPFRE leads in this category, allowing clients to choose any doctor or medical center worldwide. This variety of products empowers our clients to select coverage that aligns with their needs and budgets, offering everything from economical plans to top-tier coverage.
EF: As MAPFRE expands globally, how does the significance of Spain persist in the overall importance of the company?
BV: Spain holds a special significance for us; it is ingrained in our identity. While we have expanded globally, Spain remains crucial, and our cultural ties, especially with Latin America, make it unique. Spain is not just a country; it is our first country, and our presence here is unparalleled. We recognize the challenges for other countries to replicate this. In our strategic planning, we aim for a balanced approach, understanding how each country contributes to the company. Spain's role in our organization is distinctive due to the unique factors and expertise we have cultivated here.
EF: Can you elaborate on your perspective regarding the shift towards preventive healthcare and outline MAPFRE's efforts to promote prevention?
BV: One of the challenges facing health insurance today is the shift from healing to prevention. From an insurance company perspective, we have two primary objectives. Firstly, providing better service by ensuring quicker diagnoses that lead to a faster recovery. Secondly, reducing costs, as an early prognosis, typically results in fewer medical expenses. Our policies encompass a range of prevention programs, starting with pediatric initiatives and extending to prevention for young individuals. We have specialized programs for women, especially for those aged over 40 years, focusing on early diagnosis of breast diseases, specialized programs for men for early diagnosis of prostate diseases for those over 50 years, and many others related to different diseases. We continually enhance our programs, introducing new solutions and preventive measures to address potential health concerns. The aim is to achieve early detection and prevention, ultimately benefiting both patients and the company by minimizing the effort and costs associated with prolonged illnesses.
EF: Can you elaborate on the significance of Savia, MAPFRE's digital health platform, including its key functionalities and the value it adds to the company?
BV: MAPFRE has been a pioneer in digitalization across various sectors, including health, for the past three to four years. The introduction of Savia, a health services company, marked a significant step in providing solutions to individuals without private insurance coverage. Savia initially focused on digital services for video consultations, chats, and appointments, catering to those who needed prompt medical attention without relying on social security. The integration of Savia's technology into MAPFRE's insurance offerings has resulted in the top-rated app for managing health insurance in the Spanish market. This app allows policyholders to access information about their policies, engage in video consultations or chats, and even obtain prescriptions online—all without incurring additional charges. Leveraging Savia's digital tools, the app seamlessly connects with the insurance network, facilitating processes such as authorization requests, reimbursements, and more. This digital platform enhances the overall experience for health insurance policyholders, who typically engage with their coverage on a frequent basis. MAPFRE ensures a multi-channel approach with clients able to access services through the app, local offices, or over the phone, providing flexibility and convenience for users to manage their policies from the comfort of their homes at any time.
EF: How is MAPFRE contributing to ensuring the sustainability of the Spanish healthcare system?
BV: At MAPFRE, we think that there is nothing more sustainable than promoting people's futures. We work so that sustainability is not a concept but a roadmap for all our activity because we believe that companies should generate not only exclusively material wealth but also ethical and, above all, human wealth. This is something that we are very clear about and apply in everything we do. There is no doubt that there are still important inequality gaps that directly impact people's well-being, and with this vision, we work to continue moving towards a better model of society that guarantees equal opportunities to all without exclusion. In this sense, MAPFRE will soon present 'Na Favela' in Brazil, the first microinsurance for groups with limited resources in this country, which offers medical insurance, discounts on medication, telemedicine, financial reimbursement in case of illness or accident, and death coverage. Health prevention and healthy living, as I say, are always behind what we do. Fundación MAPFRE, our foundation, also contributes to improving the quality of life and health, with activities in more than 20 countries to promote healthy living habits, prevent non-communicable diseases, and promote research. In all these years, we have awarded more than 1,000 research scholarships that have contributed to the advancement of our society, and many of them are closely related to health. Annually, we allocate a budget of around 2 million euros.
EF: How does MAPFRE attract and retain talent, especially considering the competitive nature of the industry?
BV: We boast numerous initiatives aimed at providing comprehensive benefits to our employees. This includes life insurance and health insurance for all employees, with a substantial portion covered by MAPFRE. Employees enjoy free health insurance, while the contributions for partners and children are subsidized by half. Furthermore, our employees benefit from significant discounts on various insurance products offered by MAPFRE, extending to car and home insurance. We offer special opportunities for education, collaborating with renowned universities and training centers in Spain. We also provide an array of sports-related perks to promote a healthy lifestyle. Our company facilitates communities where employees can share their hobbies, fostering a sense of camaraderie and making MAPFRE feel like a close-knit family. The versatility of our workplace is another highlight. With over 31,000 employees in more than 40 countries, individuals can explore different roles and departments within the company. In my 17 years at MAPFRE, I have navigated through 7 different positions, showcasing the flexibility and opportunities for professional growth within the organization. This multitude of offerings and the emphasis on a people-centric culture make MAPFRE an exceptional workplace. Whether for clients or employees, our commitment to caring for people sets us apart. For younger individuals seeking a dynamic and supportive work environment, MAPFRE stands out as an excellent choice, providing benefits and opportunities that few companies in Spain can match.
EF: As MAPFRE recently celebrated 90 years of commitment, are there any final comments, lessons learned, or advice you would like to share with our readers?
BV: I believe that we are in a unique scenario, the Decade of Action, which urges us to give a collective response and collaborate to face social and environmental challenges. Our duty is to leave a better planet, and as a society, we are committed to doing what is in our power so that society and companies prosper and that we fight for a fairer, more equal, more ethical, and certainly safer place. #PlayingOurPart is the motto that structures our communication on sustainability and refers precisely to that commitment to the thousands of gestures that add up to the common objective of protecting the planet and building a future for all with simple but important gestures. It is the contribution with which we want to add, but also inspire others to add, in moving towards the sustainable future to which we aspire.
