La Llave de Seguridad Insurance Portfolio
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ScribdTranslationsLa Llave de Seguridad Insurance Portfolio
Translated by
ScribdTranslationsInsurance company La Llave de Seguridad S.A.
Currently, the insurance company La Lave de Seguridad S.A is marketing
non-life insurance products (cars, home) aimed at a specific market segment
population. However, the scarce margins it is achieving in both branches are
prevent further growth in terms of premiums and solvency. For this, the company
the insurance company has requested authorization from the General Directorate of Insurance to market
life products, health products, and an additional non-life product (chosen by the student, for
example, transport, industrial, civil liability...etc.
A total of 3 products.
The technical and risk director calls us to a meeting to ask for our help in the design.
of a product portfolio. Specifically, he asks us to write a report that contains:
Indicar la tipología (modalidad) de tres productos (uno de vida, uno de salud y un producto
of no-life).
Indicate the target audience for each product.
Indicate the tax advantages of each product.
The main product guarantees and if there are exclusions.
What marketing channels will be used.
Indicate other aspects of each product that you consider appropriate.
Typology People – Life - Individual
Target audience Men, heads of household, with children, wife and with
age between 30 and 50 years and residing in the
province of Guanacaste.
Well, the statistics show that those who
Most of those looking for these insurances are women.
heads of households and with 1 child, therefore, this market
The objective is going to bear fruit.
Guanacaste is chosen because the insurance market is
focuses on the capital, we believe that Guanacaste is
un buen mercado objetivo.
Tax advantages If the life insurance is linked to a
mortgage, taxpayers can include it
in the income tax return to apply
the corresponding deduction. In this case,
the savings product is related to the
concept of acquiring a primary residence.
The premium for personal insurance is taxed
with a reduced rate of 2% tax
of added value.
This last part according to the Regulating Law of the market of
Insurance
Main product guarantees Covers accidental and non-accidental death
Double compensation for accidental death,
dismemberment or loss of sight due to
accidental cause.
Exemption from payment of premiums in case of
total disability y permanent of
Insured
Exemption from premium payment in case of
total disability y permanent of
Insured
Accidental or non-accidental death coverage
accidental for Children.
Compensation coverage for expenses
Funerary.
The minimum insured amount is $10,000
If the insured survives to 85 years of age
age the insurer will send you the amount of
Accumulated Value available as of the date and
he will cancel the insurance.
Advance of half of the insured amount to
the insured who are diagnosed with
an oncological disease
Exclusions If the cause of death is suicide
Accident caused by intoxication and
drug use
Marketing channels to Mass media
to use Digital communication
Interpersonal communication through
independent agents, marketers
of insurance and insurance brokerage
Typology People - Health - Collective
Target audience CEO of multinational companies that want
improve the conditions of its workers
contracting health insurance as a social benefit
for their employees and that are located in the
different free trade zones in the country.
This is because the health insurance has been
converted into an employee retention factor,
especially in this type of companies.
Tax advantages The personal insurance premium is taxed.
with a reduced rate of 2% tax
of added value.
This, according to the Regulatory Law of the market of
Insurance
Main product guarantees International coverage with great benefits,
well, the collaborators leave the country with
frequency
The collaborator can ensure their
dependents
Includes among others transplants, prosthetics
surgical, epidemic diseases and
pandemic, recreational diving practice and
football, air ambulance, treatments
doctors for mental illnesses or
nervous disorders, emergencies during
trips abroad and medical expenses in the
foreigner.
Coverage in case of death
Exclusions Sexually transmitted diseases
Services aimed at modifying sex
High-risk sports and sports
professionals
Marketing channels to Mass media
to use Digital communication
Interpersonal communication through
independent agents, marketers
of insurance and insurance brokerage
Typology Damage
Target audience Leading companies in products and services
automotive companies located in the Capital.
Tax advantages He/She does not have
Main product guarantees Multi-risk insurance aimed at covering the equipment
the motor vehicle, the equipment and the
tool that these companies use
to provide home services, likewise
covers the Civil Liability that the
the insured is obliged to pay arising
for the services it provides, namely:
Oil change for engine, gearbox,
transmission, differential and hydraulic oil
of direction.
Change of oil, air, fuel filters
and cabin.
Battery change.
Changing bulbs and brushes.
Lubrication of doors and windows
Windshield cleaning
Cover for motorcycle type up to
$3,000
Cover equipment and tools for up to
$1.500
Covers civil liability for up to
$10,000
Since the insured amounts are fixed, the premium is
fixed
If the policyholder includes more than 10 motorcycles
receive a discount on the premium for quantity
Covers theft and damages caused by
accident
Exclusions It does not cover the theft of the vehicle or its contents.
while the vehicle is in motion.
Contractual Civil Liability
Missing items that are discovered when making
physical inventories or control reviews.
Deceptive advertising and dissatisfaction with the
quality of the product or service provided
Marketing channels to Mass media
to use Digital communication
Interpersonal communication through
independent agents, marketers
of insurance and insurance brokerage
Others Currently, as a result of the pandemic, emerged
this type of home services, however, is
very difficult to insure against the risks to the
that are exposed must issue 4 policies for
separate and this is an inconvenience for the
clients, given the insured amounts being so low,
there we have created this product unifying
low-cost covers.