Malta Business Review COVER STORY OF THE MONTH COVER STORY OF THE MONTH Malta Business Review DRIVING CONSTANT GROWTH “A STRONG BRAND PROMISE IS ONE THAT CONNECTS YOUR PURPOSE, YOUR POSITIONING, YOUR STRATEGY, YOUR PEOPLE AND YOUR CUSTOMER EXPERIENCE. IT ENABLES YOU TO DELIVER YOUR BRAND IN A WAY THAT CONNECTS EMOTION<strong>ALL</strong>Y WITH YOUR CUSTOMERS AND DIFFERENTIATES YOUR BRAND.” Martin Vella speaks to Felipe Navarro, CEO of MAPFRE Middlesea about their brand promise MV: Does your brand promise articulate what your target customers can expect in their interactions with you? What should they experience? How should they feel? And most importantly what do you promise that is unique? FN: Our brand promise is to be “your trustworthy insurance company“ and we do our utmost to fulfill this promise by providing peace of mind and being deserving of our clients’ trust. Peace of mind and protection is the essence of what we have to offer (we consider ourselves ‘people who look after people’ ) and this guides us in how we live our brand. Crafting this promise requires understanding of our values, interests, strengths, and our business philosophy. MV: Can you please elaborate on your mission, vision and values? FN: Our Vision is that of being the most trusted global insurance company. We intend to continue developing innovative solutions that safeguard people, with products designed to protect their property and savings, and securing their future. Our aim is to provide close support to clients whenever and wherever they need us, across all five continents. As a multinational team, our mission is to strive to improve our services and ensure the best possible relationship with our clients, distributors, providers, shareholders, and society in general. Our Values include solvency, integrity, vocation for service, innovation for leadership, and being a committed team. These values shape our operations and guide us as we work towards achieving our vision and delivering on our mission. MV: How would you explain these values to the reader? FN: Solvency is understood to mean financial strength and sustainable results over time, rendering us fully capable of meeting all obligations with stakeholders. All MAPFRE directors, employees, agents and partners, are required to conduct themselves ethically at all times, taking a socially responsible approach to all activities and long-term commitments. This is what we mean by integrity. We constantly strive to excel in all of our activities. When we refer to vocation for service, we mean that our performance is centered on ensuring the best possible relationship with clients. When we speak about Innovation for leadership, we identify differentiation as a key requirement to drive constant growth and improvement, putting technology at the service of our business and objectives. Our Vision is that of being the most trusted global insurance company MV: What are the advantages of being a global insurance company? FN: MAPFRE is a leader on the global insurance market. We operate in more than 100 countries across five continents, and we At the heart of our operations are the more than 37 million clients who place their trust in us. are the foremost multinational insurance group in Latin America and leaders in nonlife insurance in the region. We are among the top 10 insurers in Europe, and the undisputed leader in the non-life insurance in the Spanish market. We also feature in the top twenty vehicle insurance providers in the United States. All this places us in a position to deliver efficiently and effectively with regard to our clients’ insurance needs anytime, anywhere. At the heart of our operations are the more than 37 million clients who place their trust in us. We insure people, protecting their goods and managing their savings. We insure professionals and businesses, supporting them through challenging times. And we cover major risks, placing the emphasis on prevention. MV: How many people work for MAPFRE worldwide? FN: We are 37,000 employees in 5,400 offices offering a comprehensive portfolio of products worldwide. MV: What is the main reason clients choose MAPFRE? FN: MAPFRE is synonymous with innovation. We seek solutions that address new challenges, and we respond efficiently in the event of major disasters. We provide our clients with full support by harnessing the latest technology. We help to drive digital transformation in the world via products designed to cater to future risks, even covering activities that do not yet exist. Commitment is a keystone of our business philosophy. It is our duty to establish a solvent and profitable business, but never at the expense of sustainable engagement with the environment around us. The CSR branch of the organisation, Fundación MAPFRE, not only helps provide shareholding stability, it also delivers on our mission of driving development in the communities within our footprint, taking action to enhance the quality of life for around 17 million people in 29 countries. <strong>MBR</strong> EDITOR’S Note Mr. Felipe Navarro López de Chicheri is President & Chief Executive Officer at Mapfre Middlesea Plc, Chairman at Bee Insurance Management Ltd., Chairman at Church Wharf Properties Ltd., Chairman at Euro Globe Holdings Ltd., Chairman at Euromed Risk Solutions Ltd., Chairman at Middlesea Assist Ltd. and Chairman at The Maltese- Spanish Chamber of Commerce. He is on the Board of Directors at Growth Investments Ltd. and MSV Life Plc. Mr. Navarro López de Chicheri was previously employed as Director & General Manager by Duero Pensiones EGFP SA. He also served on the board at Aseguradora Valenciana SA de Seguros y Reaseguros, Bankia Mapfre Vida SA, Bankinter Seguros de Vida SA de Seguros y Reaseguros, CatalunyaCaixa Vida SA d'Assegurances i Reassegurances, CCM Vida y Pensiones de Seguros y Reaseguros SA, Laietana Vida Cia Seguros de la Caja de Ahorros Laietana SA and Union del Duero Compaia de Seguros de Vida SA. He received his undergraduate degree from Universidad Complutense de Madrid and an MBA from Universida de Alcalá de Henares. 6 7 www.maltabusinessreview.net