COMPANY PROFILE -Mapfre S.A.
Business Sector :Insurance
Operating Geography :Spain, Europe, Global
About Mapfre S.A. :
Mapfre is a global insurance company spreading its wings across five continents. It also offers insurance services through subsidiaries and provides health, life, homeowner's, commercial, industrial risk, burial, accident, automobile and third-party liability insurance policies. Its headquarters are located in Majadahonda, Spain. The company conducts its business around more than 100 countries in the world. The firm has more than 38,400 employees and 27 million clients gets benefited from the insurance maverick’s offerings for more than 80 years. Mapfre is known as the largest Spanish insurance company in the world and is also the 2nd largest insurance group in Latin America. Mapfre also provides health and other non-life insurance policies. Mapfre’s 2022 aim is to transform the process that began several years ago and to continue adapting to the complex macroeconomic environment.
Mapfre's unique selling proposition (USP) is to generate shared value with the society and the company’s long-term vision is to improve the society as a whole. The company's mission statement reads."We are a multinational team that works to constantly improve our services and develop the best relationship with our clients, distributors, suppliers, shareholders and society at large."
Mapfre S.A. Revenue :
€ 27,257.2 million - FY ending 31st December 2021 (y-o-y growth 7.2%)
€ 25,419.1 million - FY ending 31st December 2020
Competitive Analysis of Mapfre S.A.
The SWOT analysis for Mapfre SA is presented below in a matrix followed by the detailed analysis report:
Strengths | Weaknesses |
1. Well established in Spain and Latin America and operating in over 100 Countries
2. Strong financial position with consistent dividends and an excellent solvency position
3. Strong brand reputation leads to improved trust among customers and ensures customer retention and sales
4. Mapfre SA has entered into several bancassurance agreements to strengthen its position in LATAM
| 1. Fragile supply chain causing losses with few efforts to make it agile and strong
2. Comparably higher auto insurance rates and poor satisfaction in US compared to its competitors
|
Opportunities | Threats |
1. Mapfre SA can use its place in B3i to create block chain driven innovation which can serve as a solution for multiple business problems
2. Collaborating with booming insurtech startups in Latin America to seize the market share in insurtech space
3. Use of Artificial Intelligence to ease business operations
| 1. Strongly influenced by international pricing conditions and competition leading to low penetration
2. Dynamic ecosystem (changing consumer trends and government regulations) requires accommodations by insurers
3. Liquidity crunch in Spain has led to decline in the Spanish insurance market and a greater insurance protection gap
4. Scarcity of domestic savings and the excessive reliance on FDI in LATAM economy
|
Mapfre S.A. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed SWOT Analysis of Mapfre S.A.
Strength
This section is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
1. Mapfre SA can use its place in B3i to create block chain driven innovation to solve multiple business problems: Currently, the insurance sector deals with several issues such as cyber risks, inefficient exchange of information, use of middlemen, etc. Almost all of these problems can be solved due to insurance processes and business models built on blockchain. Blockchain can increase customer engagement, reduce administrative costs, and increase the effectiveness of fraud detection and pricing. This is a step ahead in digitalization. Mapfre SA is a member of Blockchain Insurance Industry Initiative (B3i) which is a global association of more than 40 international insurance and reinsurance companies. This initiative aims to create blockchain-driven technology for insurance companies such as the ones mentioned above. It can collaborate to create climate risk models, means to enhance the MGA market, and means to create transparency and synchronicity between Insurers, Banks, and Customers. Mapfre SA can thus take advantage of blockchain-driven innovation and boost its operations.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Mapfre SA is presented below in a table followed by the detailed analysis report:
Political | Economical |
1. The Russian-Ukraine War led to fall in business margins and growth rate | 1. Rising inflation has led to fall in profitability and drop in shares of insurance companies
2. Increasing interest rates indicate a favourable trend in life insurance sector
|
Social | Technological |
1. Change in consumption pattern of users post Covid-19
2. Social unrest in Latin America has caused huge losses to insurance industry
| 1. Collaborate with insurtech sector to improve business processes using advanced technology
2. Use of Usage Based Insurance to remove inefficiencies in motor insurance domain
|
Legal | Environmental |
1. Major lawsuit against Mapfre over oil spill in Peru | 1. Climate change translates to insurance risks and needs to be mitigated
2. Strong focus on sustainability and environment friendly operations
|
Mapfre S.A. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Mapfre S.A.
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
1. Change in consumption pattern of user post Covid-19: Post Covid-19, a number of trends were noticed pertaining to the consumption pattern of users in the insurance sector. Users had to become comfortable with digital spaces due to the lockdown. This accelerated the process of digitalization and thus the need for digital means of getting insurance policies, filing paperwork, and paying installments was generated with an extremely user-friendly interface. Users, post-Covid-19, are very conscious about their health and want to use sustainable products. Due to the recessionary nature of the pandemic, value for money is the top priority of consumers. As a result, insurance companies including Mapfre SA must leverage technology to digitalize their operations. Insurance companies must also reexamine investment strategies to decrease risk and increase payouts in order to improve financial security and develop programs to expand insurance and coverage to users.
The remaining section under "Social" is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Brands :
- Mapfre RE
- Mapfre Global Risks
- InsureandGo (Subsidiary)
- Mapfre AM
- Mapfre Asistencia
- Mapfre Insurance
- Mapfre Middlesea
Mapfre S.A. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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Mapfre S.A. Porter's Five Forces Analysis |
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Mapfre S.A. VRIO Analysis |
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Mapfre S.A. Value Chain Analysis |
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Mapfre S.A. Covid-19 Impact Analysis |
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Mapfre S.A. Segmentation, Targeting and Positioning (STP) Analysis |
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Mapfre S.A. Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in Mapfre S.A. SWOT & PESTLE Analysis Report
1. Annual Report - https://www.mapfre.com/media/shareholders/2021/summary-integrated-report-2021.pdf
2. MAPFRE forges a network of bancassurance partnerships to strengthen its leadership in Latin America - https://www.mapfre.com/en/insights/insurance/mapfre-network-bancassurance-partnerships-latin-america/
3. Motor insurers hit by ‘extraordinary inflationary pressures - https://www.ft.com/content/7fc8aa95-07b5-4b23-9e5b-f0e75886e2bb
4. How Life Insurance Is Affected By Rising Interest Rates - https://www.forbes.com/sites/forbesfinancecouncil/2022/07/19/how-life-insurance-is-affected-by-rising-interest-rates/?sh=5712fbf8c561
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Mapfre S.A. SWOT and PESTLE analysis has been conducted by Sakshi Sachan and reviewed by senior analysts from Barakaat Consulting.
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