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What does being the insurer for tomorrow mean?

The insurance industry is entering a new era that will be shaped by the impact of new regulations, the appearance of new risks, ubiquitous technology, growing digitization of customer relations and changes in behaviour.

 

This new world is both complex and ripe with opportunity, and BNP Paribas has launched an ambitious strategic plan called Horizon 2020 to accelerate its growth, adapt to new uses and further improve its offers for prevention, services and insurance. The five pillars of this plan are designed to better address the expectations of policyholders, distributor partners and employees.

 

TRANSFORM DATA INTO VALUE FOR CLIENTS

We are accelerating the digital transformation we initiated in 2013, putting data at the heart of our corporate strategy. This allows us to deliver quality, speed and efficiency for our distributor partners, coupled with better service for our clients. Our goal is to automate 80% of our processes.

 

CREATE NEW EXPERIENCES FOR OUR PARTNER DISTRIBUTORS AND POLICYHOLDERS

We are rethinking the customer experience to become an agile services company entirely dedicated to satisfying our distribution partners and our policyholders. We will achieve this by offering personalized services, by anticipating their expectations, and by developing effective everyday risk prevention initiatives.

 

AFFIRM OUR POSITION AS AN INNOVATIVE ENTERPRISE THAT PUTS PEOPLE FIRST

We are enhancing the “employee journey” to strengthen the engagement of our teams. By offering a more open and inspiring work environment, encouraging open innovation, collaborating with startups and supporting intrapreneurs, we will continue to motivate our teams and attract the best talents.

 

SUPPORT OUR GROWTH

We are leveraging our entrepreneurial capabilities to continue building our diversified business model. We expect our additional revenues to increase by €400 million between 2016 and 2020. We are adapting our geographic and sector coverage to capture new opportunities in emerging countries. And we will continue to grow in the protection insurance segment by creating new offers for home and automobile insurance in our key markets, and by forging partnerships with new industries.

 

MAINTAIN OUR PROFIT MARGINS AND BALANCE OUR RISKS

Our transformation plan is based on sharpening our operational efficiency to give us margins to manoeuvre in the future and continue our development while efficiently managing our risk profile and our financial investments to comply with new regulations.