-Starting point: a highly complicated competitive landscape, with a category that is very unattractive to the public, saturated with very similar messages and strongly linked to price.

-Challenge: Creating brand preference, differentiating ourselves from the competition, mainly focused on winning in a price war, putting forward what has been MAPFRE's boldest business bet in recent years, being the insurer that bets on the quality and excellence of its service.

-Objectives:

1.Achieve the best investment/mentions ratio.

2.Win in notoriety compared to previous campaigns.

3.Increase perceived quality to achieve differentiation from competitors.

4.Increase consideration and effectiveness in the ratio between notoriety and purchase intent.

5.Increase the number of quotes, CPT, Policies, and CPA.

6.Increase Google Searches (indicator of purchase intent).

Rescuing a man trapped in his car during a snowstorm is one thing, doing it live and showing it to an entire country is quite another. That's how MAPFRE's Live Insurance campaign has managed to change a category known for its gimmicky ads and price-focused messages. Real, raw, unedited content, recorded with bodycams and GoPros anchored in their vehicles, was broadcasted in all formats: TV, digital outdoor, social media feeds, banners... Over 300 hours of live content, with which we launched a documentary.

Moreover, we went a step further. For the first time, an insurer dared to conduct a live stream with influencers and content creators from the locations of accidents. That's how Spain's most trusted insurance showcased its competitive advantage to the entire country. Only MAPFRE would dare to do something like this.

Using Behavioral Economics, we discovered that each of us prefers immediate gratification over long-term benefits. That's why it's hard for us to pay today for a potential benefit to be received in the future (insurance) and that we may never see (and frankly, don't want to see). Thus, the strategy was designed around the idea of providing immediate gratification at the time of purchasing insurance, something never done before. In other words, if the moment we

purchase insurance coincided with the moment we truly need it, we wouldn't hesitate to contract the services of the best insurer in the market. And that's where MAPFRE is the strongest brand and where it manages to differentiate itself, as it has the best customer service, the widest reach, the most comprehensive offer, and is perceived as the most trustworthy insurer.1

Thus, the strategic platform "The Moment of Truth" was born.

1 INESE

How to record rescues at any time of day and night, seven days a week, across the entire Spanish geography? By using hundreds of bodycams and GoPros on MAPFRE's workers. Plumbers, crane operators, electricians, for the first time, became camera operators. They were also accompanied by recording teams made up of reporters and TV reality producers, following every rescue. A production coordinated with MAPFRE's specialized teams in various disciplines, including truck assistance units, motorcycles, urban areas, high mountains, floods, fires... Over 300 hours of live content broadcasted on digital outdoor screens, social media, and other formats. Additionally, we launched a documentary showing the effort of all those heroes dedicated 24/7 to help us in the most difficult situations. Content without filters, without fiction, all real, showing MAPFRE’s humanity. All to demonstrate that not all insurance companies are the same.

1. Most effective brand in the Mention/Cost per mention ratio (+450% vs Línea Directa and +400% vs Mutua Madrileña)1.

2. +55% in number of mentions vs. 2022 Generic campaign. 2

3. +5pp perception of MAPFRE's quality, doubling the results of its competitors. 3

4. +2.6pp in consideration vs. the beginning of the year, leading consideration vs. competitors. 4

5. +131% in policy volume vs Generic 2022 campaign with a lower CPA (-49%).5

6. +29% brand searches vs Generic 2022. In addition, it continues to grow year-on-year in searches (+10%) vs. the average of its main competitors (+1.69%).

These results have contributed to MAPFRE's 9% growth in the last year, to over 3,500 million euros, and it was recently recognised as the tenth Spanish company with the highest brand value.6

Sources:

1,2 IOPE Total Menciones individuos +25-65 AM, MM, MB. Primer trimestre 2023

3,4 YouGov, 2023

5 MAPFRE

6 Brand Finance