The end of insurance as we know it: Ageas Portugal

Nuno Horta, Group Head of Innovation, tells us how his company is going beyond insurance.

Publish date: 04 January 2021
Author: Grupo Ageas Portugal
Theme : Transformation

What makes your company truly innovative?

We exist for our customers. Innovation is at the heart of our corporate DNA. Our mission statement is clear on this: “Deliver an emotional and meaningful experience into people’s lives.” Innovating constantly is fundamental to delivering on our corporate mission. That is why we are running transformational programs that span over the coming three years and further into the future. Some of the deliverables of our proposition on innovative solutions, including beyond insurance, are already live.

What are the major goals and results obtained from your ongoing innovation strategy? 

We are positioning ourselves to go beyond insurance, not only but also to “deliver an emotional and meaningful experience into people’s lives”. By “but also” we mean that beyond insurance will also help us drive our revenues and our shareholder value sustainably upwards.

How is a culture of innovation achieved across your company?

Innovation is at the heart of our corporate DNA. Even though we have an innovation team, innovation is the responsibility of all our people. We share an innovative corporate culture, and we reward innovative talent. This is so clear that in our corporate vision statement we explicitly outline that we want to be “the best place to work for entrepreneurs.”

How does your company manage the overall innovation process?

Innovation can be an initiative of any department or person. The innovation team typically helps framing, challenging, and catalyzing the process of innovation, but this is not mandatory. From hackathons with internal and external people (including customers) to prototyping, testing and industrializing, the innovation process (from incremental to disruptive innovation) in itself is not very different in Ageas Portugal Group as compared to other players. From a best-in-class innovation team to all the innovative mindsets across the organization, what makes the difference is the corporate culture. Innovation is at the heart of our corporate DNA.

Download the full paper "Innovation in insurance: The end of insurance as we know it" and read the other exclusive interviews.

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