MAPFRE Insurance has begun selling a term life insurance product in Massachusetts, where MAPFRE’s affiliate Commerce Insurance Company is the largest auto and home insurance carrier. MAPFRE Insurance is seeking to leverage its dominant position in the Massachusetts personal lines market by offering life insurance to customers in conjunction with the company’s network of independent agents throughout Massachusetts. MAPFRE Insurance plans to roll out its life insurance product in additional states later this year.
“I am pleased and excited to announce the launch of MAPFRE U.S.A.’s life insurance sales in the U.S.,” said Jaime Tamayo, President and CEO of MAPFRE U.S.A. “Offering life insurance is essential to MAPFRE’s goal of fully protecting our customers’ most valuable assets in times of loss. As with our property and casualty products, the term life product will be competitively priced and will be backed by MAPFRE’s commitment to superior service.”
MAPFRE’s use of state of the art technology and processing efficiencies will enable real time coverage decisions. Customers in Massachusetts who purchase a life insurance policy from MAPFRE Insurance will also receive a discount on auto insurance with affiliate Commerce Insurance.
