Momentum for Liberty International is centered on growth — both organically and through acquisition. “This mix is purposeful and significant,” said Liberty International President Luis Bonell. “It's not only about acquisitions; our existing companies have to secure and build their market share.”
While Liberty International's previous years have been dominated by acquisition, the absence of external activity in 2013 allowed stronger internal focus on strategic goals that will make the SBU more valuable to its customers and assist its pursuit of being a leading global player in personal and small commercial lines.
“It has been critical to build cohesiveness and discipline around Liberty International shared strategies, such as applying local knowledge and expertise, sharing best practices globally, and providing a best-in-class experience to our distribution partners, customers and employees, while exhibiting responsibility in every country,” Bonell said.
These actions, carried out according to unique local needs, produced significant momentum in every region. Liberty International's newest entity in India is developing these attributes while growing a business in a complex market. In Ecuador, two newly acquired companies were integrated into one and rebranded as Liberty Seguros in just one year. In Poland, Liberty Direct has consistently grown its direct auto channel and most recently expanded into new distribution channels and product lines.
While these examples are significant, public reminders of Liberty International's successes, there is much occurring behind the scenes. As each country records success with a particular initiative, the data is stored and shared for replication across the globe. “Liberty International operations will not be able to solve every issue locally,” Bonell said. “Local expertise must have the support of shared, global knowledge.”
For example, Liberty Seguros (Spain) is pioneering the use of analytics to enhance its customer-centric service model, which can be reproduced where needed. Liberty Seguros (Brazil) used insights from Liberty Seguros (Colombia) and Personal Insurance in the U.S. to enhance fraud detection accuracy. The achievements and lessons learned become part of the global knowledge base everyone can access.
“We are facing challenging and exciting times that require quick responses and flexibility to adapt and lead the market changes,” Bonell said. “I am quite confident we are positioned to further the evolution and growth of our SBU in 2014.”