in a changing world 350 partners 19 countries outside France in average technical reserves in 2020
Today, our new governing body makes no secret of our international ambitions and its Confidence in our people’s expansion goals. Our recent breakthrough in Italy is proofpositive of this and has made us a truly World-class insurer.
Acting in the interests of as many people as possible is hardwired into CNP Assurances’ DNA, as our KPIs show. As France’s third-ranked institutional Investor, we support businesses in the real Economy. We have raised the bar for our investments in the Green economy, targeting net Zero carbon emissions for our portfolios, engaging in more and more Solidarity actions via our Corporate Foundation and playing a full part in industry initiatives that make us an XXL player in efforts to build an inclusive and sustainable society.
C N P A s s u r a n c e s , 170 years of engaging with the world
As responsible insurers and investors driven by the civic calling of our Group, we promote an inclusive and sustainable society with our partners by providing solutions that protect and facilitate all walks of life to as many people as possible.
Helping to establish a society in which there is a role for everyone
Providing a protection solution that suits everyone, for every stage in their life
sav ings a mil ccount a l nd p io ens n ion policyholders worldwide per son mil al risk and p l r i ot o ect n ion policyholders worldwideB
Today, Brazil has become our second-largest continent, and a hotbed of innovation for us. Our Youse subsidiary, the country’s first entirely digital insurance company, has pioneered communitybased insurance, and the partnership we recently extended until 2046 with Caixa
Practically speaking, the number of electronic signatures, which have simplified life insurance formalities in
The fully digital e-beneficiary pathway streamlines the formalities when a loved one passes away, while tutorial, a conversational chatbot, and a dedicated hotline provide support at what is always an emotionally challenging time. The introduction in 2021 of FranceConnect, an identification and authentication solution, has tightened up security arrangements for access to the beneficiary area, building trust in CNP Assurances.
customer experience fluid human touch secure simple And in the future, the “I need help” and “I’m not satisfied” customer pathways will instantly trigger action by a Group’s employee. That will only strengthen our digital/human mix and heighten the difference we can make.
Can we digitalise everything – customer pathways, relationships and processes – without losing our human touch? That’s the challenge CNP
Assurances intends to take on. Customer experience is the starting point for all our innovations and our ambitious transformation plans. In our efforts to build a truly unique platform of insurance services, we have not shied away from a complete overhaul of our information system to embrace the most agile and most advanced technologies. We have automated our partner pathways from end to end to speed up customer response times. We have focused on delivering a digital, people-focused customer pathway, with just the right amount of self-care, to provide them with independence without losing the personal touch.
As early as last year, French insurers and Caisse des Dépôts committed €3.8 billion to the
SME recovery, illustrating the leading role played by insurers in the real economy.
Personal insurers meet policyholders’ needs for longterm protection and invest the savings entrusted to them in the economy. That’s how we support the development of businesses of all sizes – from the CAC 40 giants down to family-owned SMEs – commit to major infrastructure projects, which help to make the regions more attractive, and play our part in initiatives to kickstart a sustainable economic recovery.
In today’s world, people no longer necessarily get married before having children, and they may have two jobs to make ends meet or take in a lodger when they retire to help cover their housing costs.
With our 170-year history of observing trends and protecting people, we have decided to take these new types of families under our wing, to support these non-linear journeys and provide insurance solutions for a more open world, in keeping with our DNA as a public insurer.
Our Research and strategic foresight department has been studying trends. After a year of analysis with the assistance of a hundred specialists, its first forward-looking “Families, generations and communities” publication explores these new types of, single-parent, blended and multigenerational families and sketches out possible trends.
It foresees three likely scenarios by 2030. In the first, the family remains a place of refuge, but becomes more open to life’s events. In the second, individual personal development is valued above what are flexible, ephemeral family ties. In the third, lifelong family attachments persist, but become broader, with living together eclipsing biological ties. Irrespective of which scenario materialises, we will stand alongside our policyholders, ready to insure a more open world.
we are now part of is perfectly attuned with what has always made
Véronique Weill, C h a i r w o m a n o f C N P A s s u r a n c e s ’ B o a r d o f D i r e c t o r s
longstanding multi-partnership-based, international model, to which our refreshed Board of Directors remains fully committed.
Dépôts and Le Groupe La Poste will also help safeguard our values and commitments. For the benefit of the regions in France, we insure local authorities and businesses and intend to step up in our role as a leading investor in the local economy. For the benefit of citizens, we will be adding personal services, an area in which Le Groupe La Poste leads the way. That will help raise quality of life for the largest possible number of people and bridge the expanding geographical and social divides.
Directors has taken steps to ensure its environmental and social priorities are embedded into its decision-making and to foster a more inclusive and sustainable society, in line with our corporate mission, which is now enshrined in our Articles of Association.
Stéphane Dedeyan, C N P A s s u r a n c e s ’ C h i e f E x e c u t i v e O f f i c e r
As a career-long insurer, what’s the top priority facing the industry today? The pandemic has demonstrated the social benefit of insurance through the unprecedented measures our industry has taken to shield people and the economy.
It’s up to us to educate people about what we do, and we need to talk about it in clear and simple terms, and apply a service-minded logic to support customers through good times and bad.
S. D.: The starting point lies in our roots as a public insurer and La Banque
commitment to being a good corporate citizen. It involves our partners, who form the cornerstone of our model.
S. D.: Confidence in ourselves, and in our collective ability to deliver on our expansion goals. We have everything we need – the people and the financial wherewithal – to do so. Engaging with others and the world around us, something I learned to do when
Policyholders entrust us with the task of protecting everything they hold dear – their loved ones, their projects, their possessions – being an insurer is all about showing a human touch.
A human touch has always been part of the CNP Assurances way, the engine powering our model, the source of inspiration for our solutions and the key motivation for our employees.
Investing is the other key focus of our activities, and we take a twin approach.
As a long-term investor, we manage policyholders’ risks and safeguard the money they put into their premiums and savings over time. The horizon of our investments – long-term government debt, strategically important infrastructure, equities and bonds issued by businesses targeting sustainable growth – reflects this.
Generation Z lives. Our totally “SRIoriented ” Easy Actions Citoyen solution is fully aligned with their goal of keeping tabs on the social and environmental impact of their savings. With a minimum investment of just €500 and competitive management costs, the solution fits perfectly with young people’s desire to do the right thing.
Trainees 2021 quality label for the second year in a row.
FAGE (French Federation of student associations), one of our partners since 2016. Our emergency €150,000 grant enabled FAGE to provide badly needed food parcels and mental health support services.
i pr o ote n ction policyholders worldwide, protected through risk pooling.
insurer out of 236 in the sustainability rankings and one of the top 100 most sustainable corporations worldwide all sectors combined, according to
It’s a subsidiary of Le Groupe La Poste and has a nationwide network, with 17,000 contact points, including 7,600 post offices. La Banque
Integrating La Banque Postale’s property and casualty(1) activities will make us a full-service insurer. Together we now possess everything we need to build a European leader in bancassurance and responsible finance.
CNP Assurances, Europe’s no. 7 insurer(1) and no. 3 insurer in Brazil(2), works with its banking partners to tailor its offering to the needs of its customers in each country.
In Brazil, Amparo funeral insurance costs as little as 30 reals
(€4.50) p.a. At present, it covers more than 500,000 low-income individuals.
In term creditor insurance, we have kept our refusal rate for severe health risks down to 0.2% for over 10 years.
We see our mission as being a personal insurer and design our offerings for the benefit of as many people as possible.
To support as many people as possible, we draw on our extensive knowledge of the risks and on its risk pooling expertise. It’s time for a more inclusive society.
Open to the world, to its social, economic, environmental and digital priorities, and ready to respond alongside our partners who are in direct contact with policyholders and get to grips with the real substance of their needs.
Banks, brokers, mutuals and non-profits are among them. The multi-partner approach is hard-wired into our DNA, illustrating our engagement with the world and re-energising us for 170 years.
agreements to joint ventures, from 25-year exclusive distribution agreements to short-term non-exclusive partnerships, and from single-product deals through to a full range of protection solutions.
Our Group is well known for the excellence of the relationships we build with our partners. Our ability to interface with their processes, their systems and their sales channels is a real strength.
P R E M I U M I N C O M E
Our quality of life at work initiative has been unanimously welcomed by employee representative organisations through a new agreement covering the 2020-2023 period. It reflects our fast-track transformation. With the introduction of remote working and wholesale digitalisation, without any drop-off in productivity or quality of service, the new agreement extends the option of working from home up to three days per week. Quality of life at work underpins the quality of customer relationships, one of our key points of emphasis.
corporate mission, even remotely and despite being in the middle of a pandemic!”
It needs to take financial risks to manage long-term savings effectively. An insurer manages and transforms risks – that’s its job. Conversely, an insurer is exposed to known and emerging risks that represent threats. These include cyber attacks, catastrophes and pandemics that affect it in two ways – as an insurer of human lives, but also as an organisation. Its risk tolerance reflects its capacity to deal with them.
Risk management, a core part of an insurer’s expertise, relies on the law of large numbers, one of the key mathematical underpinnings of insurance, to create risk pooling opportunities. Assessing the overall risk together and sharing it creates a form of affinity for
CNP Assurances, which regards it as a means of inventing effective and inclusive protection solutions.
61 departments covered and a network of over 500,000 community first-responders contactable via the SAUV Life app to provide frontline emergency care for cardiac arrest victims pending the arrival of paramedic teams.
Solidarity goes even further thanks to the efforts of our employees.
Donations totalling €100 thousand have been made to the French Food
Foundation focuses on young people and educational initiatives to raise awareness about best health and wellbeing practices.
Its partnership with FAGE(1), for example, has helped build up a network of subsidised grocery stores at the heart of campuses, so students struggling financially are able to buy healthy food at a price they can afford.
Low, very low and even negative interest rates are a reality affecting all the global economies and likely to persist. They drag down the returns generated by euro-fund-based savings and pensions and insurers’ traditional portfolios.
Savers need to weigh up the security, liquidity and return factors and choose the savings formula that best fits their profile and their risk appetite.
O F C N P A S S U R A N C E S ’ S A V I N G S A N D P E N S I O N R E V E N U E
Unit-linked contracts: consisting of a multi-vehicle life insurance contract to pep up savings returns in exchange for a degree of risk-taking.
Unit-linked contracts may contain investments in listed or unlisted equities, government or corporate bonds, real estate and/or cash. As their performance is linked to the markets, it may produce capital gains or losses. Depending on their risk appetite and investment target, policyholders determine how much to allocate to euro funds and how much to unit-linked accounts.
Flexible management of the unitlinked portion can make all the difference. That’s why we provide as many savers as possible with access to specialist investment managers.
Responsible, green and community-focused unit-linked contracts make a difference through the savings invested in them, such as by helping to combat climate change or creating new jobs. In 2020, more than 5 million investments totalling €11.1 billion were recorded by CNP Assurances.
Our green investments have gone from strength to strength, doubling between 2017 and 2020 to bring the target of €20 billion by 2023 within reach.
Our new headquarters currently under construction in the Issy-les-Moulineaux eco-district, a project with five quality accreditations(1)
and featuring positive-energy buildings, will cut our environmental footprint even further from 2022.
G R O W T H I N G R E E N
I N V E S T M E N T S (€ B I L L I O N)
We have our market share in Italy, our secon d d lar oubled gest market in Europe, by sealing a deal with
Aviva in March 2021. Once finalised, the acquisition of the Aviva group’s life insurance activities will solidify our partnership with
UniCredit and lift us into fifth spot in the Italian insurance rankings, with a market share of close to 6%. The deal illustrates the spirit of expansion that drives us and will help make our goal of becoming a World-class insurer a reality.
Our term creditor insurance rejection rate has not exceeded 0.2% for many years.
Via the La Fabrique d’Assurance observatory, we instigated the 2020 white paper on trust in insurance, which lays down 27 proposals for restoring policyholder confidence, such as clearer policy documentation and more transparent use of personal data.
We are a leading personal insurer, with a strong public service mindset and firmly committed to engaging with a changing world.
We play an active role in industry initiatives aimed at furthering the social benefits of insurance.
Longer life expectancy has raised questions about how pensions and the cost of long-term care can be funded. As an insurer for the masses that takes a long view, we have set up an industry think tank and pioneer initiatives to help people lead a full life in their later years.
– car, insurance and bonus – cuts each individuals’ motor costs and brings them closer together. Make friends by arranging cover. It will make you see insurance in a different light!
p r a c tic e s r is k g e n e ra tio n f o r Youse com m unity
(3) This 5-year period set by the Net-Zero Asset Owner Alliance measures the progress made collectively by Alliance members.
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