In an interview with the Paraguayan newspaper 5días, Pierina Pumarol, CEO of MAPFRE PARAGUAY, takes stock of the company’s transformation during the pandemic and the work still to be done as regards the country’s insurance market, especially in terms of regulations that protect society, such as compulsory insurance to cover traffic accidents.

“When it comes to insurance regulation, that’s the most important area,” she explained.


In her view, the current situation has given companies an opportunity to innovate and “further strengthen their relationships” with policyholders. In summary, she said: “We improved our operations, we facilitated transformation and we were in a position to support our clients,” in reference to a combination of digital and face-to-face services.


She also discussed new coverages, including the possibility of extending medical expense cover for people admitted to hospital with COVID-19 and improved automobile protection products, which are the most sought after type of product in Paraguay, accounting for half of the insurance portfolio.


A long road ahead

Top of Mind Paraguay

The CEO stressed the need to continue raising public awareness in order to boost insurance demand: “There is still much to be improved upon in the insurance business, including educating people about how insurance works, what they should and should not expect, achieving greater understanding and better communicating the benefits of insurance.”

MAPFRE PARAGUAY has recently received two accolades in recognition of its responsibility for providing an umbrella of social protection: Top of Mind, for the seventh year in a row, as well as the newspaper’s own Premio Prestigio award.

Pumarol emphasized that “you have to focus on principles. (…) It’s important for the entire regulatory system to function in a homogenous manner for all companies because when you have a system that treats you equally, the competition is excellent.”