Portugal’s leading market insurer, Fidelidade, is offering €500,000 for social innovation projects through the Fidelidade Community Prize second edition.

Following the success of the first edition, Fidelidade launches the second edition of the Prémio Fidelidade Comunidade (Fidelidade Community Prize), continuing the insurance company’s commitment to continuously support the community through social innovation.

Inserted in the Company’s Social Responsibility Program, the Community Prize designates how the company structures, in an organized way, its response to society’s problems.

With a grant of €500,000, the Community Prize has as its mission the strengthening of the social sector by supporting institutions that develop their activities in social inclusion that aid people with disabilities, help with age prevention, and innovate in health and wellbeing.

The prizes awarded will have a minimum value of €10,000 and a maximum value of €50,000.

Social institutions can apply for the Community Prize until July 13 by accessing the application form available at www.premio.fidelidadecomunidade.pt.

community prize social innovation

Jorge Magalhães Correia

Grupo Fidelidade CEO Jorge Magalhães Correia said in a statement that the Community Award “materializes our commitment to the sustainable development of society through the strengthening of the private social sector.”

“We will devote special attention to the organizational development of entities in specific areas, which allows better monitoring and synergies with Grupo Fidelidade and its partners,” he added.

The initiative has a national scope and social institutions can apply for two types of financial support: one for their projects and the other, more innovative, for their sustainability, where initiatives should be presented to strengthen the work of the institution.

As an example, sustainability may include financial support for training, social business creation, preparation of strategic plans, or even consulting in the areas of marketing and communication.

The first edition of the Fidelidade Community Prize awarded 21 social institutions with a prize of €500,000, and it received 580 applications from all over the country – 73% of the social institutions applied for the category “Support for Projects,” and 27% applied to the category “Support for Sustainability.”

Among the winners were distinguished projects that focused on the training of people with disabilities and mental illness, along with educational projects that raised awareness of the scholastic community on issues such as food, oral hygiene, and education through art.

Fidelidade is the leading market insurer in Portugal, both in life and non-life, with a market share of around 30.7%. The company is present in the various insurance business sectors and benefits from the largest network in Portugal, with a presence in several countries, namely Angola, Cape Verde, Mozambique, Spain, France, and Macau.

Fidelidade operates based on a defined and continuous Customer Centric Approach strategy, where customers are effectively come first. The fact that it gives crucial importance to the quality of the service it provides and to the comprehensive and innovative offers it provides make Fidelidade the market leader insurer, the most awarded in Portugal.

In 2014, Fidelidade was distinguished by the Efma Accenture Innovation Awards, in the category of “sustainable business,” with its ‘WeCare’ project (which aims to support the correct reintegration of people who were victims of serious accidents that put physical, economic and social reintegration).