MAPFRE Global Risks recently hosted risk managers from the largest companies in Colombia. This meeting gave visitors the chance to learn more about the company’s different areas, the work done by the various teams and the importance of cybersecurity and AI in the insurance industry.
From February 21 to 26, MAPFRE Global Risks opened its doors to the risk managers of the largest companies in Colombia, offering them an immersive experience in how large risks are managed. This meeting, called GR Excellence, was a unique opportunity to share knowledge, compare strategy and strengthen collaboration in the field of large risk insurance.
In attendance were representatives of leading companies such as the Puerto de Cartagena, Carvajal, Fanalca, Cartones América, Avianca, Promigas and Pavimentos Colombia. Each of these companies brought with them vast experience and their own stories of the unique challenges presented in risk management.
Knowledge sharing
Following the programming defined by MAPFRE Global Risks Business Development Area, together with the promoters of MAPFRE Colombia, Pablo Revuelta and Germán Ariza, the representatives of each company had the opportunity to meet and share impressions with Eduardo Pérez de Lema, chairman of the board of directors of MAPFRE Global Risks, and Bosco Francoy, CEO of the Unit.
The busy schedule revolved around ensuring that each representative could learn firsthand about each area: Underwriting, Captives, Employee Benefit Programs, Claims, Operations and Data. Not only did they gain an understanding of how things worked from an insurer’s point of view – specific doubts were resolved for each sector, best practices were shared, all of which amply demonstrated MAPFRE Global Risks’ expertise and competence.
These meetings were greatly appreciated by the visitors, in that they had the opportunity to observe exactly how MAPFRE Global Risks understands that the client and their activity is always at the center of everything and that the protection in place is underwritten with the transversal perspective of all areas.
AI and cybersecurity
Another highlight of this first edition of GR Excellence was the intervention of Maribel Solanas and Guillermo Llorente were present in a suitable location: the palace.
Maribel Solanas, chief Data officer, presented MAPFRE’s vision of AI, emphasizing its comprehensive adoption and its “humanist, ethical and responsible” approach. AI has become a key tool in improving the client experience, automating processes and verifying data in the large risks sector. Solanas highlighted the importance of data quality and the integration of AI into the company’s systems to maximize its effectiveness. “The autonomy of AI to generate results and its close relationship with the information used position data control and quality as top priorities. Data will be a tangible asset and its status will determine its value.”
Guillermo Llorente, group head of Security, covered the topic of cybersecurity, giving an overview of the current situation in general and, in particular, as it stands in MAPFRE after the cyberattack suffered by the company in August 2020, where he played a decisive role in ensuring a rapid resolution with the least possible damage. “Today our security levels stand above those of our competitors, as reflected in the Improvement in cyber resilience indicator, where our current score is 4.7 out of a maximum of 5.”
Llorente defined MAPFRE’s security as “comprehensive”, meaning that it is present at all levels of the company’s operations: “People, facilities or buildings, technological applications and infrastructure, business processes and, finally, the environment.” In this regard, he provided valuable information for the Colombian representatives, highlighting the most relevant attack vectors as:
- Providers or third parties, given that they have access to very sensitive company data
- Fraud targeted at clients (phishing)
- Duplication of portals
- Distributed denial-of-service attacks (DDoS)
Regulation is a key lever in maximizing security and Europe is making progress in this area, boosting regulatory pressure, which in turn will imply a tightening of demands in Privacy, Cybersecurity and Security.
Conclusions
The event concluded with a few words from Bosco Francoy, who highlighted the relevance of these meetings for MAPFRE Global Risks. He emphasized the importance of trust and transparency in risk management and the need to adapt to a constantly changing market. “We operate in a complex, difficult market, but our value proposition is strong enough to consolidate our relationship.”
In closing, he highlighted the value of sharing these types of meetings, where needs, doubts and proposals for improvements can be conveyed: “We want to demonstrate what we mean by closeness and what it means to be with MAPFRE. And we believe that these spaces help to build trust.”
