By: Maria Gotti | Sustainability Projects and Practice Sharing Analyst at Enel | October 17th, 2017

Enel in Peru is dealing with a great number of clients with low income or in difficult socio-economic conditions. On the one hand, these clients need a specific customer care approach and this represents a great opportunity for Enel to secure an innovative and sustainable growth of its business in the country. On the other hand, it turned out that insurance services that usually target stakeholders with higher economic conditions do not benefit from the possibility to distribute their products to low income clients. This is why, the alliance between Enel and Insurance Services represented a good business opportunity for both sectors and for new customers, who lacked risk coverage, to access these services.

In 1999 Enel Peru (at the time part of Endesa’s perimeter), in alliance with Pacifico Seguros, launched the first microinsurance in the Peruvian market. This service provided insurance in case of fires, accidental death, payment of the electricity bills and meter theft, all at one dollar per month. The payment for this type of insurance was optional, in order to help each member of the insurance program choose the type of payment according to specific needs or situation. Furthermore, the service charge is monthly and the payment can be finalized throughout the entire month following the cancellation date, in this way avoiding a potential debt. This product reached more than 150,000 affiliates in less than 6 years.

In the first years, other microinsurance plans were created to offer clients more options such as products for homes, accidents and life. Likewise, the MásSeguros program was launched under the motto "Insurance plans at your fingertips", a program that included all the products for the market addressed by the alliance between Enel and Pacifico Seguros. This program generated an excellent response from clients, thanks to the benefits and coverages provided by these microinsurance schemes.

As part of the benefits for these type of clients and their families, at least two Free Health campaigns are carried out every year. Clients are given the opportunity to sign up for medical check-ups, reinforcing the culture of prevention and improving their living standards. In 2015 Enel decided to increase the supply of Enel insurance, hence launched the micro insurance oncological indemnity, Oncoapoyo, in alliance with Rimac Seguros enabling customers to access a new branch of insurance that clearly was not within their reach before.  

Finally, in 2017 the umbrella brand "Enel Seguros" was launched under which the entire portfolio of insurance and assistance currently offered by Enel to its customers can be found. For example, Enel is about to launch an Omnicanal platform for customer service and affiliation where each customer can make requests, consultations or affiliations and this can be done in person, by telephone and virtually.

The insurance that currently forms part of the portfolio offered to Enel’s clients are:

  • Más por un dólar - 86 thousand active policies and covers: fire, accidental death and electric power consumption. Launched in 1999 as a PAC insurance (Protection and Customer Assistance) and then in 2000 it was renamed. This microinsurance covered the owner and the spouse or cohabitant. In addition, it offered monthly prizes of food baskets or small appliances.
  • Más Efectivo - Microinsurance that has a coverage of one dollar but has a price in soles.
  • MásHogar - Microinsurance that mainly covers fire and offers assistance at home, legal and medical by telephone.
  • MásSepelio - Microinsurance of life burial, which covers the affiliate in case of death for any reason. It was launched in the year 2008 and has 45 thousand affiliates to date.
  • Más x tu familia - Microinsurance of accidents, which covers the affiliate and spouse in case of accidental death or permanent or partial disability. It was launched in 2009 and has 53 thousand members to date.
  • Oncoapoyo - Microinsurance for oncological indemnity, which covers the member with a single compensation, as well as a hospital income for 30 days.
  • Vive Seguro - Multi-risk microinsurance, which covers the member in case of accidental death or permanent or partial disability, also has fire protection and medical check-ups at Mapfre medical center. It has been released this year.
  • Asistencia Dental - Assistance with dental emergency coverages, consultations and discounts on dental treatments.
  • Asistencia Médica - Family assistance with coverage of ambulance, doctor, nurse at home, as well as medical care 24 hours a day.

Thanks to the insurance scheme mentioned above and the coverage of energy consumption for an entire year when low income families are affected by death, Enel benefits from a decrease in commercial losses. Moreover, there is an increase in Enel’s margin because, thanks to the fee paid by insurance companies, Enel includes insurance services in its commercial offer.

In conclusion, this project is successful because it allowed to: generate a culture of insurance in North Lima, secure more than 200 thousand people, covering their main risks at accessible prices, thus increasing the number of Enel clients and raising their loyalty. More than 20 thousand affiliates have been able to use their coverage and this is just the beginning.

VALUE FOR BUSINESS

Anticipation, prevention, and mitigation of socio-economic risks, improving customer behavior, promoting and measuring customers risk reduction to improve business results, attracting new clients and increasing their loyalty. Decrease in commercial losses and increase in margin.

VALUE FOR STAKEHOLDERS

Risk prevention for clients in poor economic conditions in case of fire, accidental death, and impossibility to pay the electricity bills at a very affordable price; additional services for Enel clients as medical check-ups, reinforcing the culture of prevention and improvement of their living standards, improved customer service, socio-economic development of the local community.

Project Card - Microseguros.pdf