In Spain, WTW Affinity is at the forefront of transforming key industries. Our Affinity team is dedicated to providing comprehensive solutions that empower businesses to seamlessly sell embedded insurance products alongside their core offerings. For years, WTW has been committed to redefining the way businesses approach insurance in the digital age, offering an end-to-end service that meets the evolving needs of the market. This article highlights our innovative efforts and the impact we are making across various industries in Spain.
Case study 1: A leading banking partner in Spain
Challenge:The client faced a significant revenue drop in its card business due to EU regulation capping interchange fees. This challenge was compounded by a difficult macroeconomic environment with low growth and high unemployment.
Approach: In response, the client, in collaboration with the WTW Affinity team in Spain focused on high-margin debit card products. They increased transaction volumes and introduced innovative products such as spend and purchase protectors, strategically avoiding passing costs to customers to maintain competitiveness.
Results: The strategic focus on high-margin products was successful, achieving significant margins and partially filling the revenue gap within two years. This approach generated substantial additional revenues, outpacing alternative strategies such as introducing petrol charges.
Case study 2: A Spanish hotel chain
Challenge: The hotel chain faced challenges in differentiating itself, increasing bookings, and building customer loyalty in a competitive market.
Approach: To address these challenges, the hotel chain offered travel assistance insurance with each reservation, adding value and enhancing the sense of security for customers. This strategy was designed to foster customer loyalty and increase bookings by providing an exclusive and personalized experience.
Results: The implementation of this strategy resulted in a 20% reduction in cancellations and a 10% increase in bookings. It also led to a tripling of bookings and extended the average booking anticipation from 60 to 90 days. Customers felt more secure and valued, contributing to a simpler and more reassuring booking process. premium with over 75% of claims approved.
For details of the Affinity solutions and services available in your country, please speak with your local Affinity team contact.
| Title | File Type | File Size |
|---|---|---|
| WTW Spain Affinity Overview | 1 MB |
