Insurance industry shifts focus toward prevention and digital integration

The insurance industry is undergoing a strategic shift toward prevention, digital integration, and human-centric service. Executives from major firms including AXA, Santander Seguros, and Santa Lucía emphasized at the XVII Encuentro Financiero Expansión-KPMG that the sector must move beyond mere financial compensation for losses to focus on continuous customer accompaniment and risk prevention.

Mapfre’s Carlos Cendra noted that industry growth has recently been driven by rate increases rather than expanding coverage to new risks. He suggested that the future of distribution lies in identifying specific life moments where insurance becomes relevant, utilizing AI assistants, embedded insurance, and hybrid physical-digital interfaces.

In response to immediate environmental challenges, Allianz and Occident have activated emergency protocols to assist clients affected by heavy rains in Catalonia, Spain. These companies are leveraging digital appraisal systems and reinforced assistance networks to expedite claims processing during weather-related emergencies.