Madrid 2,338 EUR 0 (0,17 %)
Madrid 2,338 EUR 0 (0,17 %)

CORPORATE | 04.01.2020

MAPFRE will allocate up to 55 million euros to pay its providers’ invoices in advance
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Blanca Santos

The measure seeks to help alleviate the economic difficulties caused by the slowdown in business to professionals who regularly collaborate with the company

To date, MAPFRE has allocated 115 million euros to support the employment of self-employed individuals and SMEs

MAPFRE will allocate up to 55 million euros to make advance payments of invoices from the company’s providers who are being forced to stop or slow down their business due to COVID-19.

In this way, more than 7,000 repairers, groupers, taxi drivers, and other providers who regularly collaborate in providing their services to the company’s clients may request an advance on their invoices from MAPFRE. The initiative aims to support this group in light of the difficulties they are having in developing their business as normal, due to the measures taken to curb the spread of coronavirus.

The company also offers a free advisory service, so that this group can find out about all the measures approved in the Royal Decree declaring the state of emergency, which this group can benefit from, and advises them on how they can do so.

“We want to support all the professionals who work with us on a daily basis, who serve our clients and strive every day to ensure that MAPFRE’s service is of the highest quality. Now is the time to support them, because they are also an essential part of our value chain,”, says José Manuel Inchausti, CEO of MAPFRE ESPAÑA.

This measure accompanies the measure announced by the company last week, allocating 60 million euros to return to its self-employed and SME clients a portion of their insurance premiums in view of the closures of their businesses and lack of activity, and the donation, via Fundación MAPFRE, of 5 million euros to the Higher Council of Scientific Research to accelerate research in Spain, especially research related to COVID-19.

MAPFRE, which has around 7 million clients in Spain, has implemented its Business Contingency Plan to deal with the current situation, with the dual objective of protecting the health of its employees, collaborators and clients, and maintaining the highest possible quality of service. At the moment, about 95 percent of the insurance company’s employees in Spain are working remotely to reduce the risk of infection and to keep providing service to clients.