Insurance

Insurance conseil

Secteur Insurance Eurogroup Consulting

OVERALL VIEW

The sector is characterised by its many families of operators (companies, mutual insurance, bank insurers, 1945-law mutual funds, provident funds, direct pure players, brokers, assistance specialists, comparators, etc.), who all face a new challenge: the digital revolution. Digitalisation calls into question distributive models and, more widely, models of prospect and customer relations. It compels operators to harmonise their internal organizations with a multichannel framework. It relaunches product innovation with connected objects, big data and so the supply of new services related to traditional needs (vehicle, home, personal and household). Finally, it fuels discussions related to segmentation and so demutualisation. Against a background of economic crisis and regulations that encourage aggressive competition, these issues challenge every operator in the sector. Business models, DNA and investment capacities are tested to breaking point. One thing is certain: what is happening is no passing fad, but a genuinely irreversible transformation of the market. No player can afford to miss out.

A need to improve service quality

This development goes hand in hand with radical changes in the posture and behaviour of customers towards brands and their suppliers. The level of demand in terms of service quality is changing ever faster under the influence of players who are especially using new technologies to up their standards a notch or two. In addition, consumers no longer differentiate between different business sectors in service terms. They base their expectations on the most innovative. Insurers are used to long cycles, but they must change their mindset in this regard and learn how to assimilate such developments much faster to satisfy customer demand.

Compulsory cost control

Even though there are many challenges, operators must continue to rationalise and reduce the overall loading rate to remain competitive. Levers for dematerialisation, non-materialisation and self-care must be deployed as extensively as possible to benefit both the company and its customers. Lean type approaches and the development of an ongoing improvement culture must be adopted in projects and organizations to ensure the lasting efficacy of both current systems and those under construction.

A context of diversified, restrictive progress

The National Interprofessional Agreement, the Lagarde law, the Hamon law, the banking regulation law, Solvency II, life-insurance reform, etc.: whether they form constraints for the sector or open up new opportunities, each of these statutory instruments forces operators to fall into line or change if they are to take advantage of them.

L'offre Eurogroup Consulting - Insurance Eurogroup Consulting

YOUR CONCERNS

Deploying your corporate project

Assistance for the planning and deployment of corporate projects (a Eurogroup Consulting speciality based on the mobilisation of multiple stakeholders, either in the planning process or the deployment phase of this type of project).

Negotiating the digital hurdle

- Planning and support for the implementation of your digital strategy.
- Optimisation of your multichannel models and organizations (all types of networks: general agents, staff offices, front-office staff or bank branches).
- Planning and support for the implementation of your dematerialisation and non-materialisation projects.
- Development of product and service offers related to connected objects and digital technology.
- Planning and support for the implementation of your FlexOffice and Teleworking projects.

Improving service quality

- Planning and deploying ‘service spirit’ programmes (customer-service oriented operational standards and behavioural reflexes).
- Development of self-care.
- Optimisation of multichannel and multi-device prospect and customer itineraries with a view to improving the level and quality of service supplied.
- Management of service quality (measurement and process of ongoing improvement).

Controlling costs and improving performance

- Planning and implementation of operational-excellence programmes.
- Planning and implementation of managerial-support projects.
- Searches for partnerships and support for their implementation.
- Steering of merger and cooperation projects (particularly in the mutual-insurance and joint-representation fields).
- Audit and convergence of information systems.
- Optimisation of processes and organisation (including a support service for contractorship related to associated IS changes).

Adapting to changes in regulations

- Impacts of National Interprofessional Agreements on marketing offers and systems.
- Impacts of the Hamon law on loyalty-enhancement systems and sales approaches and arguments.
- Impacts of the banking-regulation law and life-insurance reform on processes and organization related to the selling and management of policies.
- Support for the deployment of internal-audit and risk-management systems in compliance with the requirements of pillar 2 of Solvency II.

Experts
Insurance Eurogroup Consulting