BUSINESSAgenda INSURANCE
Insurers need to find ways and means of standing out, offering better coverage as well as unique and superior benefits. These are crucial and must accompany a professional service to clients as well as a strong and uniform brand image. “The challenge is how to be different. This challenge is ongoing and can never be allowed to remain static,” says Lynne Joslin, a professional with 37 years’ experience, having worked in the insurance industry both as a broker and as an underwriter, while specialising in a number of areas including reinsurance and technical underwriting, strengthening the sales network and recently setting up a dedicated unit for business training. Her experience has taught her a great deal about the importance of understanding clients’ needs in order for them to feel important and secure.
BOOSTING BENEFITS IN the INSURANCE GAME Malta is a very small island with many insurance players all vying for the same business, and it’s a market which can quickly reach saturation point. Lynne Joslin, Chief Officer Sales Network and Business Training at MAPFRE Middlesea talks to Rebecca Anastasi about the importance of increasing value to their insurance products in order to stand out from the rest of the competition. 50 | WINTER ISSUE
“Clients are the foundation of the business and, along the years, it has become extremely difficult to capture new clients or retain existing ones based simply on long-term relationships with the company,” Ms Joslin insists. MAPFRE Middlesea is the leading insurance company in Malta for general business. The company is listed on the Malta Stock Exchange. Furthermore, MAPFRE Malta holds leadership positions in both the life and non-life markets. “This signifies strength and stability, and the client feels safe and assured in this knowledge,” explains Ms Joslin. The diversity in the range of products and services offered locally is further enhanced through synergies with the international insurance conglomerate, MAPFRE, who itself is a major player in the global insurance market. MAPFRE has interests across five continents and is one of the fastest growing insurance groups in Spain and South America. It includes the