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Objective:
Support the profitable growth of the Motorhull LoB by answering needs for specific short-term car usages.
Create a short term (between 1-28 days) car insurance policy, that can be used for borrowing another car or van, or adding a temporary additional driver to your car, letting someone else driving your vehicle. Ex : Arrange cover for a test drive, sharing a long drive with a friend, or borrowing a relative’s vehicle for a weekend or holidays.
It should be conducted by one or several entities interested for their country.
Investigation phase :
Product development phase and Launching :
to be conducted in one or with several Groupama entities
Technical and actuarial inputs: Rating and risk selection seems to be an important issue.
Importance of share of experience after the analysis / testings that would be done in one entity.
Data tell us that the distraction - due to the use of smartphone- is the main cause of car accidents.
We decided to launch a "Don’t text and drive campaign" linked with a specific safety system device, which stops the notification of all messages and moreover it sends an automatic answer.
In this way, we have proposed not only a social responsibility message but also a concrete solution!
How the pilot country chosen for this action proceed with it (the broad lines of course)
Our goal is to convince people - in particular young people - to use this device.
Trough a viral spot. We did a long brainstorming with our advertising agency and the result has been an interesting creative idea, inspired by a typical Italian tradition: the use of small objects (religious or not religious, such as saints, lucky charms, little pins) into the car as a protection against accidents.
So we realized a video, with an ironic tone of voice, that communicates the following message: Italians have always turned to Santini (religious pictures/icons) to feel safe while driving, but today there is a new danger and Santino Safety System is The first technological Santino for your car that protects you from distractions due to notifications on your smartphones .
In the same time, we transformed our chip in a pin with a emoticon face that represents a little saint. So this small object is contemporary, modern, nice, aligned with social media culture.
The operation is simple: the users can request "Santino Safety System" for free through Groupama Web Site or Mobile Application and put it into the car. The device Santino Safety System works with a mobile application through NFC technology and it protects you by blocking your incoming messages and notifying your friends that you are driving.
Thanks to this viral video, our "Santino safety System" has become a fenomeno on the web, whit more than 10 millions of views in just 2 weeks and we have received more than 20.000 request for this device.
So benefits are a lot. First of all the awareness: Italian and international press dedicated big attention on this campaign (we collected about 100 articles on technology pages and cultural pages ). Secondly the lead acquisition: we collected more than 20.000 mail addresses and mobile numbers.
Italian subsidiary is going to valutate how to continue the project next year.
Focus are: to develop the application for IOS System too, to create traffic in agencies, to connect the safety system to an insurance product...
in order to export this innovation in other countries it’s important to find the way to convince people to use it.
I think that Italian subsidiary has found a amazing idea, inspired by local traditions, but probably cultural aspects are different in different countries. So the first challenge is to transform the chip in a cool object, that guys want to have in their cars.
Objective: support the growth and profitability of our business leveraging on customer digital data from IOT and digital innovation
How: Developing a comprehensive approach to manage our customer data to create a distinctive and addictive offer and an efficient and profitable post sales management
LAUNCH A CONNECTED CAR, HOME OR PERSON OFFER WITHIN EVERY SUBSIDIARY BY END 2017, BASED ON EXISTING INTERNATIONAL AND FRENCH EXPERIENCES (Italy and Romania can serve as first examples)
The consolidation, development and profitability of the business model
In 2017, we will implement an IOT and Big Data platform and the creation of a Service company
Actions
The project aims at creating simple products, shared between or offered in all of those countries, where the Group has activity, with a centralized service platform.
At the same time, it will offer Groupama an opportunity to make cross-selling within the family members.
Start with GTC, technical specifications, pricing and e-mail of person in charge. Possibly extend to description of supporting processes like risk selection, claims management.
Existing channels, internet brokers, own website, call centers, bank partners.
Based on our own centralised services rethinking contracts with assistance companies.
GSA product with cross boarder services, supported by local companies or Supported by GSA, but local products
The project aims at improving our operational dashboards trough exchanges between 2 entities, which would compare their existing dashboards & KPIs (underwriting, claims management, reserving, network management, IT developments, marketing actions, etc.) with the target to enrich both of them and therefore to improve operational efficiency and capacity.
At the same time, each entity will discover more about the local practice of the other market and therefore it might bring new ideas for his own market.
Financial KPIs would not be part of the project.
Because operational metrics and KPI's will be exchanged between the subsidiaries, the experience of companies with different experiences and business models will be capitalized, in order to obtain an inside view on how other companies can manage and evaluate the effectiveness of their operations.
A basis for comparing each company’s efficiency will be possible, based on a per comparison for questions like, how much time it takes to issue a life policy without underwriting or how many FTE’s are needed to pay a packaged household fire claim in company XX in comparison to company ZZ.
Assuming that each Affiliate has its own dash boards, the International Division should put in place a base line inventory of operational dashboards / KPI’s compiled throughout the international affiliates.
Each affiliate should identify and contribute operational dashboards / KPI’s that are in place to measure operational performance or the accomplished action-plans /programs.
Subsequently, the Internal Division should identify which KPI’s could be paired per line of business among Affiliates.
kpiS
core processes of the core business mainly anwering time to customer / claim processes and services
sales
claim managemenet,
IT
What is it?
Solvency II is a Directive in European Union law that codifies and harmonises the EU insurance regulation. Primarily this concerns the amount of capital that EU insurance companies must hold in order to reduce the risk of insolvency.
Each regulator in every EU country has identified Insurers capital needs to support their risks. Thus, business plans and new product launches are now, more than ever, incorporated in capital decisions.
Idea
It can be surprising how little we know about how much capital is required to support different types of products. The idea is to develop a simple groupwide model adapting the existing Solvency II group calculation model by using the knowledge and experience of some experts across the Groupama. This should be at the forefront of our planning and not just as a quarterly calculation sent to the regulator. Those calculations should be used also for:
Solvency II calculations should not just be seen as a compliance issue but also as a real predictive and decision taken tool for business development in order to help identifying risks in our organizations. For example, this could help us identifying earlier the risks taken when we develop products. If the model identifies such a product, we can ask then the question whether the risks and returns of that product are fully understood and acceptable. The goal is to find a balance between business development, risks and capital requirement.
Outcome
The harmonization of approach to modelling solvency requirements will help the Group
What are the first steps to implement that?
Who | What | When |
DI | Establish what the group has already developed and is using ( French tools for SII calculations), training on Solvency II (connection between financial performance of an insurance business and SII indicators) | Jan till March 2017 |
External trainer/ or GSA | Implement training to have a common understanding on the level of the MM committee of each subsidiary | April- June 2017 |
DI + CFO | Establish working group of the financials directors among subsidiaries to learn how to “ play with the standard formulas files and connect them with PSO, or budget during workshops” | Sept- March |
Int. Subs | Implement in local subsidiaries according to local possibilities | From 2018 |
Budget needed: training costs, Business Trips for CFOs for workshops
The idea is:
This center would allow us to centralize information and research data in order to avoid starting projects from scratch.
A common platform would be necessary and a knowledge “librarian” (and community manager) could be in charge of maintaining and updating the information.
Expected benefits:
What is the profile / map of experts?
What else should be on the platform?
How should we implement the idea?
How can you use the experts?
Who should animate and steer it?
KPIS
Next steps
Develop a common worldwide employer brand for Groupama
“Groupama - an employer of choice”
The idea
Develop a common appearance and presence to the Groupama employer brand, in order to build a common power at an international level as an employer of choice.
Create a clear and common picture of Groupama (both internally and externally) as an employer of choice, in order to improve attraction, retention and engagement of talented employees.
How could we implement the idea?
We could take this idea further by :
Employer branding refers to the expression of a company’s unique attributes (point of differentiation). Especially from HR point of view, there are benefits that are applicable to both prospective and current employees. While our branding influences a consumer’s decision to make purchases of our products, the employer brand for the human resources, is the composite of various economic, psychological and functional aspects that impact a professional’s desire to work for a particular organization.
All the international subsidiaries are competing to recruit talented employees in highly competitive labor markets, where attracting the right person with the right skills and attitudes is not easy.
Engagement levels of existing employees within the international perimeter is already high (81% vs 73% in France) but we need to retain our key talents, and they need to feel proud of the organization they work for.
This project can be transversal across the international perimeter, but also between International and France. In France, there is a common approach to employer branding at a national level, with communication campaigns that are aligned to the strategy, values and brand image of Groupama in France (proximity, responsibility, confidence). This project has the potential to become transversal across the whole Group.
Benefits for the companies will be:
KPIS¨
nb pf PROCESS we will improve,
target to reach for the process improvement to be defined by process ( ex : nb steps, time, decrease nb dpts involved in the process...
how - next steps
1 build the team project
2 scope definition = initial meeting between mentors+ leader
objective to limit clearly the scope of the project
what is within, what is out
to agree on main process that matter most for client to start with
between : issue, pay premium, claim, modify, cancel, whih one to start with
what not to include now ¨: ex intermediary management in the project
and on which product to start with motor, property
orgnization people and system
3 methodology '4 phases
Define
Measure
Design/ improve
Implement
define:
measure the current situation time to service, map current process
set up the target we want to improve
market benchmark among us
key sf
light orgnization where each cleqrly agreees on his role qndlevel of cooperqtioon
define the organization of the project
define if and needed of external training for applying a common methodology for improvmenet
1 - Global vision of the Proposal:
Fraud is a growing problem, particularly in the fields of motor and P&C, and fighting fraud has considerable cost and profit potential for insurers. Insurance Europe estimates that the total from all cases of fraud – both detected and undetected – amounts to 10 percent of overall claims expenditure in Europe. In France the P&C frauds weight 15% of paid claims. It is expected to become more important for our Group as the general economic conditions of related subsdiaries become more fragile againts risks on political and economic development.
Current position of the Groupama
Proposal
To support this strategical competence across the Group, the awereness should be increased and priority should be given on the management level of each subsidiaries in addition to important current efforts by the Fraud Taskforce.
Proposals regarding the criterias for such competency:
Notification & Detection
Implementation Scope :
To create an innovative agricultural product, insurance of wine producing, (including vineyard and grapes), property, machinery breakdown, cellars or silos, loss of profit etc. It applies in areas where the wine production and exports are quite substantial and covers insurance needs of producers, starting from production up to distribution of the product.
Project Plan
The Market
The Product
Which is:
KPIs
- measure interest from all subsidiaries and collect existing products sold in this field (to the farmers) : equipments / crops / property / machinery. Combining our existing coverages could be a starting point
- measure potential markets on each country
- potential insurance prospects per country on existing wineries and wine producers in our portfolios. Measure interest frombanks which are financing the farmers
- Modular product to be constructed to let flexibility to each entity - it let flexibility keeping coherence of the product
Implementation phase
- select existing experiences within the GRoup
- define pilot
- define u/w rules, marketing and distribution
- who is in the best place to sell the product :
1 - Global vision of the Connected Insurance :
Reminder of the 3 main objectives of the connected insurance :
In addition, our objective must be a global control of all telematics steps :
Better knowledge of the risk / Pricing / E-Market à What are the objectives ?
(Example for the Automobile)
Claims management - What are the objectives ?
The Economic Model - What are the economics
2 - The Turkish experience : the “Kaskpilot” project
(See appendix)
3 - The Italian experience : the “Autocontrollo” Product
(See appendix)
4 - Appendix
kpiS22
