MAPFRE Insular Makes Insurance Easier through Digitalization

Ciara Alarcon
In the Philippines, majority of the population has no insurance as they thought that these services are hard to acquire. In fact there’s only 1.64% insurance penetration in the country. With this, MAPFRE Insular started to embrace digitalization to make insurance more accessible and easier.

MAPFRE Insular Makes Insurance Easier through Digitalization
MAPFRE Insular Makes Insurance Easier through Digitalization

With storms and natural disasters always landing in the local shores, it’s obvious that a big amount of financial loss is always on threat as properties were either uninsured or under-insured. To address this dilemma, MAPFRE Insular has invested in new technologies to simplify the concepts of insurance for consumers.

One of their innovations is the use of the QR code for all of their policies. This helps them to verify the authenticity of the policy, enabling MAPFRE to transmit or send policies through email. The QR code also promises a more secure service.

“The digital images QR codes can be kept safe in your phone or in any cloud service while simultaneously providing the policy holder with an added layer of security thanks the QR’s codes advanced software, which will then protect policy holders from counterfeit insurance policies, making it easier to retrieve when needed,” MAPFRE Insular President and CEO Tirso Abab explained.

The company also step up their insurance application process through the launch of their MAPFRE Insular Virtual Office (MIVO). This allows their partners to do their business online like quoting, and collecting payments.

MAPFRE introduced its UpDocs, as well, enabling consumers to submit requirements online, and to start processing of the First Notification of Loss (FNOL). The company has 24/7 hotline, too, allowing their policy holders to report claim anytime. They also have the MAiassist road assistance app, which delivers a convenient way to access roadside assistance and track the location of the service in real time.

For more information, you can visit MAPFRE Insular website here.

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