Innovation at Fidelidade

Fidelidade is nominated in the Global Innovator category at the Qorus-NTT DATA Innovation in Insurance Awards 2025. We asked the bank to present its strategy and actions in terms of innovation.

Why do you consider your company a Global Innovator?

With over 200 years of history, Fidelidade has evolved into a global innovator, blending traditional insurance with cutting-edge digital ecosystems to deliver value beyond basic coverage. Our innovation strategy is driven by AI-powered analytics, omnichannel engagement, and automation, which enhance customer-centric experiences across our services. Programs like XLAB foster intrapreneurship, empowering employees to bring new ideas to life, while corporate ventures like FIXO, Just in Case extend our offerings to home services, on demand travel insurance, and senior care. These initiatives allow us to offer tailored, value-added solutions such as Vitality, Fidelidade Drive, and MySavings, which reward healthier lifestyles, encourage safer driving, and support smart savings. Through Protechting, an open innovation initiative, and strategic venture capital collaborations, we continuously accelerate transformation in the insurance industry. Our adoption of agile methodologies and lean startup principles ensures we’re not only adapting to change but leading it, scaling breakthrough solutions that redefine the insurance experience on our homeland and on our 14 International geographies.


How is a culture of innovation achieved across your company?

At Fidelidade, innovation is a company-wide commitment. From new joiners to long-standing employees, everyone is encouraged to contribute and play a role in shaping our future. Our 40 "Innovation Heroes" are key figures in this process, acting as champions of innovation within their business units. These employees mentor startups, bridging the gap between external innovators and internal operations, ensuring seamless collaboration on pilots. Additionally, through our XLAB program, we cultivate a culture of intrapreneurship, providing employees with the methodologies, tools and resources to develop, test, and launch new ideas that solve real company challenges. Our yearly Innovation Sprint program for trainees brings fresh perspectives, directly involving them in tackling real business challenges. We also regularly host hackathons and ideation sessions to encourage collaboration and generate innovative ideas across all departments. To ensure that every employee has the opportunity to engage in testing and experimentation, we maintain an internal database of more than 300 testers, allowing staff at all levels to contribute to refining new products and services. Additionally, we have Center for Transformation, Center for Advanced analytics and AI and Office for business Agility departments to make sure we are always on the forefront of Innovation as a Group.


What are the major goals and results obtained from your ongoing innovation strategy?

Fidelidade's commitment to continuous innovation has yielded remarkable results, particularly in customer satisfaction, operational efficiency, and revenue growth. By leveraging advanced analytics and omnichannel engagement strategies, we’ve transformed the way we connect with our customers, delivering personalized, seamless experiences that foster long-term loyalty. Our digital tools, such as MyFidelidade and MySavings, and innovative solutions like FIXO, Just in Case, and Sofia, have significantly improved retention by offering tailored services that meet a wide range of customer needs. As a result, pure digital sales have grown 2.1x in the past year, while the cost per acquisition has been optimized by 46%. By continuously integrating new services and digital initiatives into the core insurance business, we've enhanced the Group's operational efficiency: automated claims handling now accounts for 65% of auto claims processed daily, more than 50% of assistance calls are managed by a speechbot, 36% of health insurance invoices are processed automatically, and over 27,000 auto inspections have been carried out digitally.


How does your company manage the overall innovation process?

Fidelidade’s innovation process follows a structured, agile approach that fosters collaboration across all business units. Our Center for Transformation is built around three key pillars: 1) innovation and strategic design, which includes managing open innovation programs like Protechting with +300 yearly applications, internal initiatives like XLAB and Innovation Sprint involving +300 employees in the innovation process, and training +400 employees on innovation and design tools and methodologies; 2) corporate ventures such as FIXO, Just in Case, and Sofia, that drive value both on core and on beyond insurance arenas; and 3) our strategic Venture Capital approach, which spans from deal sourcing, to capital deployment, and portfolio management. Teams from IT, Marketing, Legal, Actuary and Distribution work closely together to test and refine ideas through pilots, ensuring smooth integration into our operations. At the core of this process are our 40 "Innovation Heroes", employees who lead projects within their business units and drive collaboration with external stakeholders (e.g. startups, Academia, Experts, investors, etc.), helping ensure a constant flow of creative solutions that enhance our offerings and redefine the insurance landscape.