Innovation and commercial expansion of a company dedicated to the commercialization of insurance policies in Paraguay

Abstract

The main objective of the research work was to analyze the innovation and commercial expansion strategies of a company dedicated to the commercialization of insurance policies in Paraguay. The study adopted a quantitative, non-experimental and descriptive approach, and used tools such as SWOT analysis, Porter's 5 forces model and the Strategic Canvas. The target population included current and potential clients, sales agents and international reinsurers. The data was collected between March 2023 and September 2024 through structured surveys and analysis of historical financial data. The results indicated that 65% of clients valued the customization of insurance and 75% considered agility in claims management to be crucial. However, 60% of respondents suggested that communication and customer service channels should be optimized. At a competitive level, Porter's analysis highlighted high rivalry in the market and a moderate threat of new competitors, mainly due to digitalization. The SWOT analysis highlighted strengths such as the company's track record and its branch network, but also identified weaknesses related to technological modernization. It was concluded that the insurance agency has great potential to increase its market share through product diversification and improved customer experience. It was recommended to invest in technology, optimize internal processes and design digital marketing strategies that would reinforce its competitive positioning. Likewise, the importance of fostering strategic alliances with financial entities to increase coverage and consolidate its presence in the market was highlighted.