Helping insurance organizations succeed in their transformation

[CONTENU PARTENAIRE] Regulatory constraints and new developments in the sector are pushing organizations insurers to transform. The Strada Conseil and Neuros consulting firms are there to support them in these projects. François Reibell, president of the Strada group and Pascal Woitier, general manager of Neuros, talk to us about these issues.

What are the services offered by Strada Conseil and Neuros to insurance companies?

Francois Reibell: Strada Conseil is a consulting firm that exclusively provides intellectual services for major insurance or mutual insurance accounts, mainly in reinsurance and property and casualty. We intervene to secure transformations, first during the definition of the project, then during the implementation. Around these services, we do change management, support and training.

Pascal Woitier: The Strada group recently acquired Neuros. We have the same consulting business on transformation projects, but we apply it to the personal insurance part.

FR : The workforce of Strada and Neuros is made up of professionals from insurance organizations or consulting firms, who are able to speak the complex language of our clients, but with strong expertise in driving transformation, both in ‘IT, the profession than on the organization.

What are the new constraints facing the insurance sector?

FR : A lot of constraints come into play, such as the Solvency 2 or IFRS 17 financial presentation standards, which require significant changes. The taxonomy for the CSR part will also lead to problems with the presentation of accounts, and to wonder what risks and assets to insure.

Today, there are drifts in the loss ratio, in certain branches. The impact of climate change is inducing ever-increasing claims, as we see with natural disasters and fires. And this has an impact on the profitability of insurers with real questions about premiums.

P.W.: The constraints relating to complementary organizations are mainly regulatory, in particular the GDPR, which is particularly sensitive with the treatment of healthcare costs, 100% health and intra-annual termination, which now makes it possible to terminate without waiting for the anniversary date.

What transformation projects are being implemented?

P.W.: Organizations seek to make cost savings by coming together and merging, to achieve economies of scale and pool costs. In 15 years, there has been a 70% reduction in the number of organizations managing health insurance.

FR : Regulatory constraints lead to these concentrations. Other types of transformations are linked to the arrival of new players, such as GAFA or start-ups, but also to new distribution channels and new insurance products, such as cyber risk, pandemics and new mobility. This leads to digitizing and perpetuating the relationship with the insured and requires substantial overhaul of organizational processes or information systems.

This content was produced with SCRIBEO. The BFMBUSINESS editorial staff did not participate in the production of this content.

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