Enhanced services, new digital dimensions
Certain major technological developments, such as connected objects, big data or blockchain, open up new horizons for insurance. They also mark the transition from insurance for all to insurance for the individual, while retaining the advantages of pooling. That is why we are speeding up our digital transformation, in order to strengthen our relationship with our members and customers by offering them innovative services.
We are developing high value-added mobile apps, such as “SelfCAR[e]”. The winner of an Argus d’Or award (claims management category), this app allows policyholders making a car damage claim to take their own photos and instantly forward them to an authorised repairer, giving them control over the claim as well as getting it handled more quickly.
We have created a new platform for innovative, user-friendly services targeting the connected home. In partnership with Verisure, the European leader in remote surveillance, Covéa has introduced an offer covering fire, break-ins and flood damage, 24/7. It also provides policyholders with peace of mind through access to home automation functions (power cut alerts, movement detection, temperature and humidity control, etc.).
These initiatives illustrate our goal of providing the best possible experience of insurance, by simplifying the relationship between insurer and member or customer. Our role goes far beyond financial compensation. We aim to focus increasingly on support, advice and assistance for our members and customers.
For profitable development
We view profitability as key to our sustainability and prioritise continuous and sustained evolution over sudden change. Our policy for developing our offer and services fits naturally with this philosophy and helps us grow in our core markets.
Damage and Liability Insurance: we are the leading insurer for retail customers in this market segment, and are seeing continued growth in the motor segment, with a 0.5% increase in vehicles insured in 2016, and in home insurance, where policies increased by 1% in 2016. We are also France’s second largest insurer of self-employed professionals and companies (source: FFA – 2015).
In Claims Handling, we focus development on transforming our business lines and organisations to serve our commitments to customers and win their loyalty. The same goes for the transformation of assistance via our innovation policy and our investments in new technologies.
In Health Insurance and Personal Protection, we continue to grow at a steady pace in the self-employed professionals and companies market (11.1% increase in group health premium income in 2016) and strive to maintain this growth through new offers targeting different professions and new opportunities in the SME, intermediates and large corporates markets. We have also put in place a specially tailored structure to speed up the development of our health and protection inward reinsurance business. Lastly, we are steering the growth of our businesses towards services, prevention and healthcare networks.
In Life Insurance, we are focusing our efforts on sources of profitability for our members and customers in a context of low interest rates, and pursuing our strategy of diversification into retirement savings and protection policies. We continue to improve our products with a view to making them easier to understand and providing ever more support to our policyholders.
Key figures at 31 December 2016
0millionmembers ans customers
0millionindividual and group health insurance policyholders
0millionprofessional and corporate policies
0points of sale
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