The new approach, called MAPFRE Innovación, is already in place and will serve as a strategic guide for the company in the coming years. With this model, MAPFRE aims to become more agile, foster greater collaboration across markets, and maximize the impact of its innovation initiatives.
As the sixth largest insurer in Europe and the largest multinational insurance group in Latin America, MAPFRE views innovation as a strategic driver of long-term growth. For the company, innovation not only creates business value but also helps mitigate risks, anticipate market changes, and deliver solutions that directly enhance customer experience. MAPFRE Innovación is designed to reduce uncertainty, strengthen the execution of its strategic plan, and accelerate cultural transformation toward a more open and agile organization.
The updated model was developed by reflecting on lessons learned over recent years and through a comprehensive review of the original innovation framework. This process highlighted challenges as well as opportunities for improvement, which were translated into four key pillars. These include understanding the strategic context and challenges of each country and business unit, coordinating an open and distributed innovation model aligned with the Group’s overall strategy, complementing the work of specialized areas such as technology, data and AI, operations, and business development, and managing an innovation portfolio that generates shared value across MAPFRE.
Collaboration will continue to be central to MAPFRE’s innovation efforts. The company will expand its work with start-ups to develop proofs of concept, pilot programs, and scalable projects that deliver tangible results for its customers and regional operations. At the same time, the model integrates intrapreneurship initiatives, collaboration with consortia and universities, research and development through CESVIMAP in the field of mobility, direct investments in start-ups aligned with its strategy, and business intelligence and venture capital initiatives.
“MAPFRE Innovation is the natural evolution of the work we have been doing since launching our first open innovation model in 2018,” explains Leire Jiménez, Chief Innovation Officer at MAPFRE. “The model is a key lever in the company’s transformation, supported by a dedicated and diverse team, along with the methodology and funding needed to deliver high-value projects. We are committed to providing scalable solutions while also identifying threats and seizing opportunities early on, which ultimately drives MAPFRE’s growth.”
With MAPFRE Innovación, the company reinforces its commitment to innovation as a strategic tool, ensuring that every initiative delivers real value to both the business and its millions of customers worldwide.
