The Business Year

AO23_FI_FidelidadeSeguros_pic_ArmandoMota

ANGOLA - Finance

Armando Mota

CEO, Fidelidade Seguros

Bio

Armando Mota is CEO of Fidelidade Seguros. Previously, he worked in managerial roles at several insurance firms for over 14 years, and has over 25 years of experience in the sector cumulatively.

"Our employees enjoy working here, and this is fundamental to delivering results."

Armando Mota, CEO of Fidelidade Seguros, talks to TBY about developments in the insurance sector over the last year, the role of technology, and plans for 2023.

Fidelidade Seguros and other insurance companies in Angola were experiencing changes in the sector last year. How has the situation evolved since then?

The situation today is different than it was last year, as well as the regulator being more active, which is good for us. We want to boost the image of the insurance sector and send a message that we are able to respond to claims and deliver excellent service to our clients. That is the only way we can see the sector growing in the future. 

What is the main strategy differentiating Fidelidade Seguros from other insurance companies in Angola?

We have stiff competition in the market, and the economy was not growing last year. Clients were therefore moving to other insurance companies with lower prices, and we lost some important clients because we were not able to match the prices. In 2022, some of these clients returned because the service with the other companies was not up to standard. In 2022, we are seeing the results of the strategy that we designed three or four years ago. On the corporate side, the other clients that stayed with us are growing because the economy is starting to grow as well. We are feeling stronger and have real partnership relationship with our clients. The most important companies in Angola are law clients. We specialize in the private sector, though in 2022, we started doing some business with the state, and we intend to move forward with that. In terms of individual insurance, our 800 salespeople are doing a great job. We are selling about 10,000 policies per month, mostly for motor insurance. Our claims department here has been working well, especially in motor, workers, compensation, and health. We believe our clients are satisfied with us and recommend us to their friends. We have more than 140,000 individual clients today, and we are growing rapidly mainly. We are extremely satisfied with our progress, and we intend to maintain this growth rate over the next year.

How are your employees trained once they start their journey with Fidelidade Seguros?

Our employees enjoy working here, and this is fundamental to delivering results. Working with a smile makes all the difference. When working in Fidelidade, they can learn many things and have team leaders that are more experienced and pass on knowledge to them. We have about 1,000 employees at Fidelidade currently, and we create the conditions to make them feel they are important. That is reflected in our daily work and the level of service that we deliver back to our clients. We give them the opportunity to learn on the job, and we give them the opportunity to learn from someone with more experience. We strongly believe that the key to the success of Fidelidade is having people who works with a smile.

Who are your strongest partners in the country?

We sell through the most important banks; however, our brokers are the most important channel of sales for the company. Wherever we are in the world, we are a broker insurance company; our first sales force is brokers, and Angola is no different. We have a great relationship with our salesforce.

You have a new service called Fidelidade Auto Easy. What has been the response of the Angolan community to such technology?

The response in the first few months has been as expected; our goal is not to sell insurance but to get people to get used to this new way of contacting an insurer. The majority of the population of Angola is young, and most of them are comfortable with technology. We are targeting such clients, and we want to be their insurance company. We seek to remain close to them as they grow. We intend to grow our online sales though for now, we are not heavily focused on sales. We are more focused on reaching out to people. We are also investing in call centers to assist those who want to purchase insurance over the phone. We are the ones to start this in Angola, and we intend to be the first insurance Angola in online sales of insurance. When we launched Auto Easy we had 19 million views in 6 weeks, generating more than 300 leads.

What are your priorities for 2023?

Our main priority is for our employees to keep growing with a smile, and our second is to keep delivering excellent service to the market. Hopefully, the market will trust Fidelidade more; then, our premiums will go up. Our other priority is to keep supporting the growth whit OUR Especialistas. We want to continue to grow and expand across Angola. Our other priority is to keep our shareholders happy; for that, we need to deliver profits.

ADVERTISEMENT

ADVERTISEMENT

You may also be interested in...

Joaquim Alves, CEO of Imovias

ANGOLA - Real Estate & Construction

Joaquim Alves

Interview

CEO, Imovias

José Antonio Barata

ANGOLA - Economy

José Antonio Barata

Interview

Country Manager Partner, Deloitte

AO23_EN_EPAL_ManueldaCruz_pic

ANGOLA - Economy

Manuel da Cruz

Interview

CEO, EPAL

View All interviews