Launch of an innovative health insurance company in Spain



A clear leader of the Swiss Life Insurance Market is interested in diversifying its business. This diversification needs to be done in two ways:
– by entering in new European markets
– by developing other fields of Insurance with a preference in health as this product is close to Life Insurance
In this context, the Insurance Company asked INOV to:
– Explore two specific markets – Spain and Poland- to identify a possible market entry
– Support the Company during all the process of the entry

INOV´s response:

To conduct this 30 months project, INOV Finance worked with its own team of consultants (one actuary, a bancassurance specialist, product specialist, two researchers- one for Spain and one for Poland- and a CFO).
INOV Finance:
– Made two – Spain and Poland- market researches with different conclusions and proposals for a possible market entry. The Insurance company followed INOV´s advice to go for the launch of a health Insurance Company in Spain and to wait for a more favorable legislation in Poland
– Designed a a complete guideline for the launch of a health insurance activity of this company in Spain:
* Strategic analysis with a clear response- distribution, access to managed care network, products, customer, underwriting and claims, operations- on how to enter the market
* description of the products including General Conditions and Tariffs
* financial projections
* description of business work flows  (internal and external including with medical network)
* selection of potential partners
– Established the contacts with the Spanish market players:
* Managed Care Networks and main Medical Centers
* Distributors (Banks, Brokers and Wholesalers)
* Competitors
* IT provider
– Conducted the negotiations for the entry:
* Assessment and discussions (pricing, standards) with Managed Care Networks
* Conditions with interested distributors (three Banks)
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