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About us

Strategy

A change of organisational structure designed to serve a collective objective

To become the preferred insurer of our clients and reference partner of our distributors

After a year 2016 characterised by dynamic growth and record results, Societe Generale Insurance is engaged in a proactive strategy that will transform its business mix in line with its plan for organisational transformation.

Our ambitions

  • To accelerate the pace of growth in all our business segments by optimising our multichannel structure;
  • To intensify the transformation of our business mix and of our distribution models;
  • And to deliver continuous improvement in the service we deliver to all our customers.

  

Goals which are supported by innovation, digital transformation and optimal use of data.

Societe Generale Insurance is consolidating its relationships with its historical distribution partners, the retail banks and private banks of the Societe Generale group in France and abroad.

In 2016, the personal protection product offer was extended in France with the addition of two innovative solutions to address the issues of long-term care for both carers and dependent seniors. A car insurance offer was rolled out with Credit du Nord, and a home insurance product launched in the Czech Republic.

For its Private Banking distribution partners, Societe Generale Insurance was committed to delivering new Private Equity, Real Estate and Discretionary Portfolio solutions.

Finalised in April 2017, the acquisition of Antarius, the life insurance company dedicated to Credit du Nord’s Savings and Protection business, will strengthen the partnership and synergies with the Credit du Nord retail banking network.
Credit du Nord and Societe Generale Insurance are united by the same high ambitions.

Societe Generale Insurance is also accelerating the digital transformation of its bancassurance model, offering its customers new digital functionalities and new services in order to better identify and meet their needs and expectations.

The process of diversifying the distribution model is being intensified by strengthening synergies within the Societe Generale group, with particular focus on the development of a new online bancassurance model with Boursorama in protection insurance and with ALD in fleet insurance.

In Germany, Societe Generale Insurance is consolidating its partnership with Hanseatic Bank by offering the bank's customers a 100% online insurance sales platform developed by a FinTech.

The process of opening up the model also continues through the development of partnership agreements with players outside the Group, largely as a result of the digital transition and the emergence of new business models in France and internationally.

Link vie


In France, Societe Generale Insurance has strengthened its partnership with Primonial and launched LINK Vie, a 100% digital savings life insurance policy based on an innovative BtoBtoC business model. 

Iriade emprunteur

In the personal protection market, Societe Generale Insurance is leveraging innovation with IRIADE Emprunteur, a credit life insurance product built in partnership with AssurTech BPSIS Multinet Services, and distributed via credit brokers.

Moonshot-Internet

These experiments with new markets and new distribution methods are accompanied by intrapreneurship projects and the creation of an innovative in-house InsurTech called Moonshot-Internet.

Consistent with the sales policies of its French and international networks, Societe Generale Insurance is extending its protection offer (credit life insurance, long-term care, health, protection, property & casualty, etc.), and modernising the tools it provides to distributors to capitalise on the significant potential for product take-up in this market.

In life insurance, Societe Generale Insurance has responded to the low interest rate environment by developing new and innovative savings solutions, many of them in unit-linked, in France (new discretionary portfolio solution, real estate offers, private equity, etc.) and abroad in Bulgaria, Russia, Romania, Serbia and Luxembourg.

Societe Generale Insurance is also expanding its ambitions in the group insurance market, on retirement insurance, protection insurance as well as health insurance. With a market share of 8.4% based on inflows and a diversified customer portfolio that includes 20% of France’s CAC 40-listed top companies, Societe Generale Insurance is the 1st bancassurer and the 3rd player* in the French group retirement market.

* Arial / CNP consolidated 

Customer and distributor satisfaction are central preoccupations of Societe Generale Insurance, and those concerns are addressed by developing expertise and service quality, identifying new needs, promoting accessibility and omnichannel distribution, and investing in new digital tools.

Societe Generale Insurance is engaged in an ambitious strategy to accelerate innovation and the digital transformation of its business through cross-functionality based on an upgraded strategy monitoring programme, intensified contact with business ecosystems and a Test & Learn initiative to encourage practical experimentation.

Our priority is to make maximum use of technological innovation in its many forms, including the Internet of Things (IoT), Big Data, Artificial Intelligence and other digital resources, by applying them to the insurance world to anticipate customer expectations and behavioural shifts, evolve our pricing models, improve our processes and control risks more effectively.

As part of strengthening its links with the academic and industrial ecosystems through the IoT and by testing its innovations with the rising generation, Societe Generale Insurance signed at the beginning of 2017 a partnership with the ESCP Europe business school for their Internet of Things Chair.