18 July 2017 15:35
Michel Fragasso | Photo : Réjean Meloche
For Michel Fragasso, president of the consulting firm Planeffico, the products of fintechs will be complementary to those of insurers, recalling, in passing, that the life insurance products are primarily products of the council.
«There is no threat, just opportunities, he launched at the last Convention of the insurance and the investment. The consumer wants to have the autonomy to decide when he wants to make his transactions. People want to keep the bond of trust they develop with a counselor, and the technology will allow the adviser to give better advice. «
He noted that the world of distribution has changed a lot. He takes the example of the case of the platform Fundserv in the mutual fund industry. Mr. Fragasso is known very well, while it has contributed to its rise as a founding member of the Board of the investment fund of Québec (CFIQ).
«Fundserv is basically an intermediary between the manufacturers and independent consultants, which offered the odds of the day rather than the next day to the era in which the requests were sent by fax. This model could be reproduced in life insurance ? «, he asks.
He pointed out that currently, the self-employed must submit their proposals to a general agent who submits to insurers, which can take time and prolong the time for brokers to receive their commission. «To facilitate the task and have his commission more quickly, this would be a good idea,» he said.