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The Web, only one gun of small insurers from the large

by

Alain Thériault

11 August 2017 07:00

Stéphane Rochon

CEO of Humania Assurance, Stéphane Rochon believes that smaller insurers will have to focus their efforts on the digitisation of products and their distribution, in order to hope to compete with the biggest.

Humania Assurance has seen a strong growth in the underwriting of individual insurance products on the Web. HuGO and other Web products, including Insurance without a medical exam (FOL) and Children 360 have allowed the insurer to exceed the 50 % of sales generated by Internet, — June 7, 2017, compared to 40 % at December 31, 2016, revealed Mr. Rochon.

«We hope to finish the year at nearly 60 %. I dream to see the advisors to sell our products exclusively via the Web, ideally by the end of 2018. «

The insurer began a huge project to eventually migrate all its products to the Web, including disability insurance products and serious diseases. In the field of digital, Mr. Rochon believes that the smaller players can fight the titans by their agility.

He said that the migration of COMPANIES to the disability insurance offered by the product ASSEM Debt is done quickly. The first policy was purchased in march after only 10 weeks of programming. «Once the platform is made, the migration can be done more quickly,» noted Mr. Rochon.

Migrate on the platform HuGO of disability insurance products and serious diseases, regular, as a PAIR or Prodigy, will be another pair of sleeves. «Disability insurance products online poses challenges. Risk selection is much more delicate. Attend massage therapy does not pose any problem in life insurance. In disability insurance, the pricing will require a questionnaire on back pain. Each little bobo is much more examined.

The financial underwriting is another difficulty of the disability insurance which does not arise in life insurance, » added Mr. Rochon. The job category and the level of remuneration shall take all their importance. «We would like to have done to migrate our portfolio to the end of 2018. The goal is ambitious, » he says.

For the platform HuGO, he said, to favour the strategy staircase, one step at a time. The disability insurance will be next, he said.

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