Insurance

The insurance sector in Spain faces similar challenges to those faced by the banking sector when it comes to investment in technology.

The upward trend of the insurance sector has ocurred in an increasingly tough and competitive context (accentuated by the new Mediation Act of 2006 and the opening up of a massive portion of the sector to the free circulation of financial products and services). This context has its limits and the fierce competitiveness within the sector has forced companies to find comptetitive edges in order to continue building market. As a result, it would seem wise to seek new business formats or trends that try to impede the saturation of the insurance market, energise the sector and facilitate its development in the years to come. Introducing innovation into certain aspects of the insurance sector is the key to adapting to a market that is becoming more and more competitive every day.

Technology plays an important role in this innovation. SATEC provides the insurance sector with new projects that offer innovative approaches not commonly found on the market, such as: