Francesc Santasusana: "The insurance broker provides value and advice."

– What is an insurance broker and what is their importance?

In the insurance field, there are two types of agents. Those who work for a single company, whose reach extends to the entire country, and those who work for all companies in the market, always seeking the most suitable offer for their clients. Thus, the insurance broker provides value and advice.

– Does the digitalization of insurance company processes jeopardize the continued existence of the mediator?

Ours is a profession that has been around for more than a century and has been adapting to the needs of clients. Digitalization doesn't jeopardize our position; rather, it expands our possibilities to be more agile in reaching and advising clients. Therefore, mediation is a very stable sector, provided that the necessary homework has been done to adapt to current ways of working.

– How does an insurance broker work to guarantee consumer rights?

The mediator must defend the client's interests, but keep in mind that there is a contract with an insurance company. When a dilemma arises, the mediator automatically sides with the client, who is the one who pays a premium to the company we provided, believing it to be the best solution.

– What rights does the consumer have?

You have the rights under a contract you signed, which has conditions and exclusions. When a claim occurs, we defend the contract, but if ambiguities arise, we always defend the client's interests, since we know them and have a close relationship with them.

– What are the most common conflicts between consumers and insurers?

Disputes typically arise over issues affecting the home. For example, if a house collapses due to a lack of maintenance, you may be able to cover liability for the damage caused to a third party, but not for the repair of the home. There are exceptions, such as an earthquake, a storm-induced flood, or a lightning strike, in other words, in accidents that occur suddenly and temporarily.

– Do some conflicts stem from the way in which the fine print of policies is handled?

Obviously, there's a fine print, because everything has limitations and coverage limits. If everyone understands that a policy covers potential losses and not wear and tear from use or lack of maintenance, there aren't too many conflicts. It's worth remembering that insurance minimizes the problem, but often doesn't solve it.

– How to improve transparency for consumers?

Everything can be improved, but it's clear that the wording of the contracts, the conditions, are sometimes very cumbersome. An insurance company monitors problems. That is, if there is a one-off incident, it ensures that there is sufficient premium to cover it. Therefore, it's clear that to monitor the potential for accidents, you must establish a regulatory framework within a contract. And this point is sometimes the hard part. We often ask companies to be much simpler, but it's actually complicated because so many things happen throughout life that what they need is to define the action plan for the coverage of the specific policy.

– How are insurance policies changing, for example, with the effects of climate change and the threats that are now affecting us more frequently?

There are factors that cause changes. In our case, we have the Consorci, a state-owned company that provides stability to insurance companies. This means that a portion of the premium you pay to your insurance company goes to that consortium. For example, in cases of atypical weather events, such as the one that recently occurred in Terres de l'Ebre, the Consorci provides stability to insurers and minimizes the economic effects these disasters have, which could translate into financial problems for the companies. The needs that exist in the market today are different, whether due to the effects of climate change, which will become increasingly pronounced; because life expectancy is increasing and Social Security may not be able to withstand it in the long run, etc. We are responsible for advising clients so they purchase the most appropriate policies in a timely manner. We must always be one step ahead of what might happen.

– How are you working at CMAB to address these challenges?

The Association, which has approximately 1,500 members throughout Catalonia, prepares for the present and the future. It's a woman of knowledge and training. It's a public law institution, but it's still a lobby that encompasses traditional mediation. Now, we must also address new distribution channels, such as banking, hotlines, etc., and adapt to new market needs. We must also attract young people to work in the insurance sector, which is stable and reliable.