César, Desirée, Diego, Karla, Erica and Josué correspond to two professional profiles which are key to our business, namely automobile underwriters and processors and share a mission: to achieve the maximum satisfaction of our clients.
TEXT MARÍA JESÚS PÉREZ FUENTES | PHOTOGRAPHS MAPFRE | ILLUSTRATION ISTOCK
César is head of Underwriting in the Automobile Unit at MAPFRE Perú. The underwriters are professionals who analyze the risk of an insurance company’s portfolio and ensure that it is profitable. “We safeguard the risk assumed by the company, and ensure the level of quality offered to our clients.” His objective is to achieve a technical equilibrium, whereby the clients’ needs are satisfied with attractive products, while the portfolio provides positive returns. With the introduction of distance working, César can distribute his working hours between his home, office, and visits to brokers.
“Our principal function is the analysis and selection of risks by means of prior automation or in operations pending approval,” explains Desirée, from her position at the Territorial GM of Catalonia. “We are risk assessors, acting as auditors to avoid fraud and risks for the company in respect of the policies issued.”
Diego started out in MAPFRE in Chile, although he has now been in Colombia for 11 years. From there, he comments on the multidisciplinary nature of his daily routine. “Every day is full of challenges and responsibilities; I therefore have to be ready and willing to take on the full range of activities related to my job.” These activities include preparing quotes for both collective and individual products, overseeing the selection and underwriting process in that line, supporting the sales network when they require training on the products, or analyzing and interpreting the claims rate figures, among others.
Karla is a claims analyst/processor in the Dominican Republic whose job is to provide clients with solutions following an accident. Processors are the ones responsible for dealing with the companies and individuals affected, and negotiating with the insured and other parties in order to reach the ideal solution for all concerned.
A normal day for Karla begins with an examination of the paperwork generated since the opening of the claim. “We answer calls from clients requesting information on the status of their case, as well as information on the claim in general. We also issue the orders to the repair shop and confirm parts availability with the suppliers so as to coordinate with the shop when the vehicle should come in for repair and, finally, when it can be returned to the client.”
The service provided by the processors is fundamental for us to be perceived as a company that is 100 percent client oriented. As set out in the Strategic Plan for 2019-2021, in MAPFRE we strive to place our clients at the center of everything we do, so as to continue being their benchmark insurer. The processors are responsible for advising, accompanying and guiding our clients through their most vulnerable moments, fostering their loyalty thanks to the excellent service provided. They ensure that the claim is resolved with due guarantees and controls, within the time limits established for each process, and always standing by our clients the whole time, right up to the resolution of the claim incident.
Josué, an appraiser at MAPFRE PUERTO RICO, is a clear example of this customer-centric approach. “Serving our customers is one of the greatest satisfactions. On arriving early at the office or starting the car to head off in the morning, I already know that it will be a productive day and that many clients will receive the first-class service we must provide. The need to resolve situations that crop up daily fills me with great enthusiasm and energy. For me, our customers and their satisfaction are paramount,” he declares.
In MAPFRE we are working on anticipating our clients’ needs and revising the Automobile line in the coming years. Achieving the maximum degree of personalized service is one of MAPFRE’s objectives. This will enable us to ensure our customers experience the best possible relationship with the company, offering them an innovative value proposition, adapted to each profile. “Customers demand simplicity and immediacy, but, at the same time, personalization of cover options, paying solely for what is necessary,” says Desirée, “and we must therefore be proactive through both the traditional network and using the new technologies.”
“Due to the evolution of technology, customers nowadays expect to receive a faster, more immediate service and they are also more demanding,” adds Erica from MAPFRE MIDDLESEA. “Currently, new technologies and our competitors in the insurance market, together with the evolution of technology, simplify – and will continue to simplify – everyday tasks for processors, thus allowing for straightforward, efficient communication between the customer and the insurer.”
In order to achieve these objectives, these professionals agree that it is vital to offer underwriters and processors the technological tools and/or solutions that can make their daily work more agile, as well as facilitate their learning the technical, sales, operational, technological and financial aspects they require in order to fulfill their function.
“The main challenges in the sector are to come up with innovative products, be profitable, grow your market share and offer virtual tools to facilitate matters for both clients and the company”
Diego Ávila Muñoz, vehicle underwriter at MAPFRE Colombia
“It is essential for us to be at the forefront of technology, since that will influence whether we can provide an excellent service and continue on the road to greater profitability”
Josué Cordero Pérez, adjuster/appraiser at MAPFRE Puerto Rico
Adapting to the future automobile sector is one of the hot topics in the industry. Autonomous vehicles, ride sharing, connectivity, mobile apps… Insurers are racing to adapt to the dizzying pace of evolution in the sector by devising products and services that respond to these changes. “The digital revolution will have a big impact on the automotive sector; thanks to the new technologies, vehicle underwriters will have more information when it comes to assessing and analyzing risks, and setting new conditions for the new markets as they emerge,” states César.
For this reason, our ability to capture, store and analyze the data is fundamental, given that it will end up playing an essential role in underwriting. “Through digitization and big data,” explains Desirée, “we’ll be able to assess and offer personalized premiums thanks to data from the connected car, in such a way that the insured can have a premium in line with their particular circumstances. We are talking about variable premiums within a given period of time, according to the risk, and shared premiums for automobile sharing, for example.”
“At MAPFRE PUERTO RICO, technology and its use have been a determining factor for the success of this company,” declares Josué. “The technology applied to our work is of great help when it comes to loss adjustment and claims processing. It is essential for us to be at the forefront of these changes, since that will influence whether we can provide an excellent service and continue on the road to greater profitability.”
In conclusion, Karla, expresses her future desire for the Dominican Republic, “that we continue educating this market on insurance matters, while being more competitive and smashing old paradigms.”
Cesar Otoya del Águila, Head of Underwriting at the Automobile Unit. MAPFRE Perú. 21 years in the company
“We safeguard the risk assumed by the company, and ensure the level of quality offered to our clients.”
Desirée Barrachina Hidalgo, Automobile Underwriter. MAPFRE España. 18 years in MAPFRE
“Our principal function is the analysis and selection of risks by means of prior automation or in operations pending approval.”
Erica Bartolo, Motor Claims Handler at MAPFRE MIDDLESEA. 7 years in MAPFRE
“Due to the evolution of technology, customers nowadays expect to receive a faster, more immediate service and they are also more demanding.”
Josué Cordero Pérez, Adjuster/appraiser at MAPFRE Puerto Rico. 3 years and 5 months in MAPFRE
“The technology applied to our work is of great help when it comes to loss adjustment and claims processing. It is essential for us to be at the forefront of these changes, since that will influence whether we can provide an excellent service and continue on the road to greater profitability.”.
Diego Ávila Muñoz, Vehicle Underwriter. 2 years in MAPFRE chile and 11 in MAPFRE Colombia
“Every day is full of challenges and responsibilities; I therefore have to be ready and willing to take on the full range of activities related to my job.”
Karla Massiel Maria Morel, analaims Analyst/Processor in the Dominican Republic. 5 years in MAPFRE
“I hope we continue educating this market on insurance matters, while being more competitive and smashing old paradigms”
Some functions of an underwriter
- Satisfy underwriting needs according to the line of business in question, in order to guarantee the satisfaction of our clients and cost optimization for the company.
- Draw up the underwriting policies and manual for the products in order to select the insurable risks for the company
- Support the sales area by defining specific rates and conditions that contribute to growth in both individual and group policies within the automobile line.
- Analyze the occurrence of accidents and written and accrued premiums, so as to support the renewal process by determining profitability and business continuity, thus fostering customer loyalty.
- Reveal opportunities for the enhancement of processes, seeking their optimization and improved service provision.
- Draft and prepare the quote slip in accordance with the policies and technical conditions.
- Review the conditions of business group policies in the automobile line when participating in a tender, in order to ensure compliance with the company’s underwriting policies.
Some functions of a processor
- Process personal injuries and material damages
- Deal with the entities and individuals affected by accidents, negotiate with the insured, other parties and the professionals who intervene in cases, striving to obtain the best possible result for all parties.
- Corroborate whatever is needed to clarify the matter. Conduct studies, validate reports of different kinds (police, judicial, administrative, etc.), deal with the other parties (who may be individuals, companies or public bodies), with other professionals involved in the claim (adjusters and attorneys), with service providers (travel assistance), etc
- Perform the necessary checks to establish how the accident happened, the absence of bad faith, due coverage under the policy and the party responsible. The company can thus compensate the insured to the tune of the duly covered damages.