Despite the best efforts of globalists, Theresa May, the BBC, online FBPE remoaners and Gina Miller, Brexit actually happened. Sort of. That means expats and retirees living in Spain and other EU countries will have to carry more medical insurance, since it is unlikely that any country will offer much more than emergency treatment under GHIC type schemes. So this creates a great opportunity for insurers in the healthcare sector. News from MAPFRE here;
There are more than 500,000 English-speaking residents in Spain, of whom more than half come from the United Kingdom. Some of them are temporary residents, but the advent of Brexit and the current global health crisis may lead many to consider settling permanently in Spain.
MAPFRE has more than 50,000 English-speaking clients in Spain, located mainly in Madrid, Catalonia, the Mediterranean coast and the Balearic and Canary Islands. To better understand the needs and characteristics of this group, as well as the attitude toward insurance of the people within it, the company recently conducted an analysis with the aim of designing specific solutions for them in an effort to become the benchmark insurer for this group.
The analysis shows that there are essentially two profiles of English-speaking residents in Spain, according to where they are located. In coastal areas and the islands, about 70 percent of residents are over 54 years old. Most are retired people who spend long seasons in Spain, or permanently reside here for a quieter life.
By contrast, in large cities like Madrid and Barcelona, the profile of such residents is different: the average age is younger (about 40 years old) and this demographic mainly comprises people seeking new experiences and opportunities. Many of them are employees of large companies and a large proportion work in language teaching.
What unites both groups is a love of Spain’s climate, our gastronomy and the quality of life that this country offers. The main problem they face in their daily life is the language barrier. Regarding insurance, everyone in this group is in need of services in English, and confess that they are concerned about not knowing what they are signing up for if they cannot access well-translated documentation or correct explanations in their own language.
In general, it is a demanding group that values high-quality, personalized service in English, across different channels, as well as access to management platforms on which they can express themselves in their mother tongue. They mainly request automobile, health and homeowners’ insurance.
Support and services in English
For this reason, MAPFRE has developed a new support program specially designed for Spain’s English-speaking residents. The proposal includes a personalized multi-channel service in their own language, informative material translated into English (brochures, welcome pack, signs…) and recommended providers, among other services. This solution is already provided in 23 of the insurance company’s branches, located in the areas with the greatest presence of foreign residents. They offer products and services in English that will later be extended to other cities at the national level.
These 23 branches have employees qualified to meet the needs of this group, in order to facilitate maximum communication with them, so that the clients can be assured that they are being served and understood correctly. In addition, through its website and app, MAPFRE offers all services in English, as well as telephone assistance 365 days a year through SI24.
This personalized support is expanded through agreements with providers, a service that has been required by this community in order to complete certain procedures, such as assistance in car repair workshops or medical consultations in clinics and hospitals, where they can also receive consulting services in their own language. In addition, MAPFRE has launched the MAPFRE TRANSLATE app for internal use of certain services, such as vehicle towing, which provides immediate translation between the client and tower and provides direct and agile communication in the client’s language.
“Our goal is to improve the client experience to optimize their relationship with the company and thus become a benchmark in the foreign residents segment. We have already done so for the Chinese community in Spain, and now we want to extend these options to our English-speaking clients,” says Manuel Maestro, Assistant Director of Business Development for Large Cities and sponsor of the Foreign Residents program.
As part of this program, a year ago, MAPFRE launched its sales strategy for the more than 240,000 Chinese citizens living in Spain, with the aim of becoming this group’s trusted insurance company. MAPFRE has more than 20,000 Chinese clients and four branches offering personalized services in their language.
MAPFRE is the benchmark insurer in the Spanish market and leader in the Automobile, Homeowners and Business lines, among others, with more than 7 million clients, around 11,000 employees in Spain and roughly 3,000 branches distributed throughout the country, which offer personalized advice to its clients.