The CNP Assurances group, a pioneer in the French personal insurance market, was able to stand out in its partnership strategy by strengthening its historical offer by means of digitalised subscription processes.
DEVELOPMENT OF THE INSURANCE MARKET
The insurance sector is also facing a series of complex changes: technology, regulations, behaviour, etc. Indeed, the sector must adapt to new forms of consumption where the omnichannel nature of digital becomes the key to customer experience.
The most visible development in the insurance sector is still online subscription. Indeed, it has continued to grow from 3% of sales in 2012 to 8% in 2016 (source: Accenture). These regulatory and technological developments therefore encourage innovation and the creation of new ways of distributing insurance.
FOCUS ON THE CNP SUCCESS STORY
The CNP Assurances group, a pioneer in the French personal insurance market, was able to stand out in its partnership strategy by strengthening its historical offer with digitalised subscription processes.
In 2013, CNP Assurances was one of the first insurers to set up a digital subscription method via an electronic signature programme that enabled them to multiply partners and significantly speed up their integration. With the electronic signature bearing fruit, it was essential for the group to continue its development by placing the user experience at the heart of its strategy during onboarding and file creation.
Indeed, subscription to selfcare regulated products requires not only the electronic signature of documents, but also the submission of a file of supporting documents (DDA, KYC, solvency, etc.). This leads to a very significant rate of incomplete and/or noncompliant files, in addition to increased abandonment associated with the breakdown of digital to paper. Faced with the major work necessary for technological development of a robust model combining KYC and user experience, CNP Assurances made the choice in 2017 to turn to a trusted partner. This strategic alliance was led by Netheos, an expert in this field, and was able to offer a compliant, automated and innovative turnkey digital subscription workflow.
La Préfon, Caisse Nationale de Prévoyance de la Fonction Publique, which is a subscriber to a group insurance policy with CNP Assurances, turned to its partner to offer its customers a digitalised solution for signing up to the policy. The CNP Assurances group responded to the request by proposing the Netheos solution.
This new sign-up method was put into production in less than three months and the first tests were successful. To date, Préfon has improved its conversion rate to reach 55% in selfcare. The completeness of these files is also expedited, as Christian Carrega notes.
The aim of the CNP Assurances group is of course to contribute to the performance of its partners’ digital offering and to multiply the use cases to maintain its leadership in the sector.