The commercial partnerships we have extended for another term with our major distributors in France started up in 2016. The highly positive momentum we have achieved with BPCE’s teams makes us optimistic about our ability to build a model generating shared
value in savings and in personal risk and protection. With La Banque Postale, our expansion goals hold the promise of solid results. We have high hopes for every area of this alliance, including the digital segment, given the harmony we have achieved by aligning our interests. Performance in Latin America was again vibrant. Growth has held up in the region at an impressive level for over fifteen years despite everything that has happened. In 2016, the successful launch of our 100% digital business under the Youse brand name epitomises the CNP Assurances Group’s potential for innovation. In northern Europe, our CNP Santander Consumer Finance subsidiary delivered impressive growth of 20% in its premium income in personal risk and protection.
2016 was the first year of full implementation of the governance rules laid down in the Solvency II directive, which required a great deal of adaptation. Internally and in our relationships with the supervisory and market authorities, our new operating procedures promote transparent management and high-quality governance. The Board of Directors has played a major role in this. It approved 18 key policies, including on underwriting, capital management, outsourcing, investments, reinsurance and compliance. The Board also determined the Group’s risk appetite through the adoption of the ORSA report(1) and issued its opinion on the actuarial function’s report.
Given our high-quality results and the ambitions we have based on our strategy, we have raised our EBIT target for 2018. We are thus stating our ambitions at a time of rapid and far-reaching changes in the insurance sector, with the confidence that comes from our history and our culture.
Youse: an exciting new insurance provider for everyone, everywhere! A 100% disruptive, positive, digital insurance company that started out in Brazil.
Getting closer to SMEs, or the story of a three-way partnership Effective and easy-to-understand social protection at last!
Nao: a schoolfriend for children with disabilities A story dear to CNP Assurances’ heart.
Going all-out to track down beneficiaries of life insurance policies Over 340 managers, data scientists and investigators on the case.
Jean-Charles Samuelian The pace of technological change has ramped up dramatically. We set up Alan to rethink health insurance and the user experience with a vision that it should be as compelling as what you have on your smartphone. That’s what we are trying to do with Alan.
Frédéric Lavenir People’s lives are changing radically. Their employment status is changing all the time – they may go from being unemployed or freelance one day, to being an employee the next, or even both at the same time. These non-linear careers mean that the old forms of social protection based on having the same status for a lifetime are no longer appropriate. What we need to do is focus on individuals in their social and economic context at a given time and offer them a flexible range of protection solutions that can adapt to every specific situation.
Frédéric Lavenir With digitisation, we have less time to react, and so we need to be as flexible as we can be. The scope for personalisation is increasing, people’s careers do not follow set patterns, they are no longer one of many doing the same thing, and that can create more solitude and isolation.
We build a community of interest with a commercial dimension and a solidaritybased community, too.
Jean-Charles Samuelian The people who joined Alan did not just want to create yet another start-up. They came aboard because we have a long-term vision of setting up a company that would have a very major impact on extremely complex sectors in which users’ needs are poorly met. And that’s what gets us up in the morning, and I have full confidence in each team member’s ability to find the best way – not necessarily the one I would have come up with – to solve this type of problem. There are many other businesses and start-ups we enjoy talking to because we feel we are both tackling the same problems in different areas.
Frédéric Lavenir What really stood out for me is your ability to adapt. We use our experience to change direction or to investigate an area in greater depth, harnessing our tremendous ability to learn and react very rapidly indeed. That goes against the grain in a large organisation, which typically does not like to make mistakes. In today’s world, it’s important to be able to accept that things aren’t working and that changes are needed.
At times, charities and foundations hold large sums of money as there may be a time gap between fund-raising and the actual launch of projects. And their status means they are not allowed to lose even a single euro. Investing these funds in a very low or even negative interest-rate environment can be highly problematic. To help them honour their commitments, CNP Assurances has devised Flexi Sérénité.
Audrey Kœnig Head of Wealth Management, Banque Privée 1818, BPCE Group,
Laurence de Solminihac Head of administration and finance at OHS (Objectif Handicap Solidarité)
She argued in favour of the opportunities provided by Flexi Sérénité, an innovative solution devised by CNP Assurances, in a presentation to her management team and governance bodies.
CNP Patrimoine’s range of solutions is growing – with recent additions including Quattro, Flexi Sérénité and Lib’RT – to meet the needs of its partners and their customers. We look back at how the product range took shape.
Audrey Koenig Head of Wealth Management, Banque Privée 1818 “Today, private clients are growing weary of the capital markets because they are highly volatile and disconnected from economic fundamentals. What’s more, we are witnessing enthusiasm for EMTN(1)-type structured products, which offer the prospect of higher expected returns than euro funds plus capital protection, making them lower risk than an equity investment.
Thanks to CNP Assurances’ innovations, we are able to meet their expectations. Banque 1818 targets management agreements for €5 million in assets. Our clients are charities, foundations and families, including some from the Caisses d’Epargne and Banques Populaires retail networks.”
IT PAYS TO BE AGILE IN THE UPSCALE SEGMENT CNP Assurances pulled out all the stops to establish itself in wealth management. It set up CNP Patrimoine as a dedicated unit, built a range of life insurance products in line with the highest standards of the upscale segment, created a range of innovative products, introduced digital investment and management tools, and established a subsidiary in Luxembourg. The impact was immediate. CNP Assurances sealed distribution partnerships with the most highly respected private banks in the marketplace. Along with its two longstanding partners – La Banque Postale and the BPCE Group via Banque 1818 –, wealth management’s development has been stellar, revitalising CNP Assurances’ image.
systems rank among the best in the market, enabling it to live up to the trust placed in its longstanding life insurance business.
Her team of actuaries and data scientists have developed a machine-learning model to help spot the deaths of policyholders not reported to management units, which helps to simplify and speed up the search for beneficiaries.
She describes how searches have become far more sophisticated over the years and talks about her experiences in this area.
To handle these cases, we decided to use machinelearning techniques from data science and we have developed an innovative model.
It is based on progressive, fuzzy matching between the databases to handle the various types of errors that they contain. Since it was first rolled out in November 2016, its performance has been excellent, lifting the percentage of the recently deceased identified from 87% to 99%. Data science makes it possible to tackle operational and business issues in new ways. We are continuing this line of investigation by looking at issues submitted to us by the Group, ranging from the screening of marketing targets to the processing of letters returned to sender.”
(1) National directory for the identification of natural persons. (2) Association managing risk information for insurers.
MISSING PERSONS Over the past ten years, insurers’ responsibility has changed dramatically. Until 2007, it was up to beneficiaries of a life insurance policy to make themselves known. But this meant that they needed to be aware that they were a beneficiary. Insurers, meanwhile, had no way of knowing that a policyholder had died. As a result, the number of unsettled policies piled up, especially at CNP Assurances, France’s number one personal insurer. The French law of 2007 made insurers responsible for finding deceased policyholders, and CNP Assurances swung into action.
RULES TIGHTENED UP BY THE LOI ECKERT The new law of 2014 clarified the rules on unsettled life insurance policies and tightened up insurers’ obligations. Its key measures included mandatory consultation of the RNIPP database(1) on an annual basis, a broader obligation to inform all policyholders without any minimum policy size being applicable, a ban on charging clients a fee for investigation expenses, and the transfer to Caisse des Dépôts of sums remaining unpaid ten years after the insurer found out about the policyholder’s death or the policy’s expiry date. CNP Assurances immediately redoubled its efforts. A total of 125,000 investigation requests have been processed (in personal insurance)
Olivier Oria CEO of investigations company ATER “Our company, which was founded in 1988, specialises in finding individuals owing money, and it is well-versed in dealing with civil status issues. We have expertise in processing large data volumes and 110 specialised inheritance investigators, and we track down around 75,000 people a year on behalf of the market’s leading insurers. CNP Assurances selected us in 2008 following a competitive bidding process, and tasked us with finding and locating the beneficiaries of its unclaimed life insurance policies. We work as discreetly as possible, we don’t tell the beneficiary anything, and we don’t even know how much money is involved. Discretion is the most important attribute of an investigator. The profession is regulated – it is overseen by the French ministry of the interior – and all our investigators have gained the relevant qualifications (CQP). We need to be able to put people at their ease, and listen rather than talk, with patience and perseverance. Our performance is tracked using special metrics. With CNP Assurances, everything is clearly laid out, with agreed response times and performance commitments.”
FIRST IN EUROPE Following a call for innovations issued to start-ups, Icade decided to trial a teleconsulting booth at its headquarters. Employees can have free individual check-ups and have a doctor’s appointment via a video link. Icade also provides its employees with access to Lyfe’s service platform and to the well-being coaching digital application.
CNP Assurances invests in start-ups H4D has been working on the Consult Station® since 2008. This mobile connected medical booth, which is kitted out with high-calibre measuring devices, is able to deal with 85% of GP consultations remotely. As well as helping to prevent health issues from occurring in the workforce when installed at a business, it can also be used to offer telemedicine in the medical deserts forming in France.
“H4D’s core mission is to combat healthcare inequalities, whether they be social or geographical. The support provided by CNP Assurances fits perfectly with its digital aspirations and its vision to provide insurance cover for all.”
PARTNERSHIP WITH MUTUELLE NATIONALE TERRITORIALE (MNT) Full-scale testing started with 600 people enrolled in the trial, of whom 20% went on to use the services. That provided plenty of encouragement for MNT to roll out Lyfe across the board to its 750,000 potential users in early 2017.
“The installation of the booth captured my interest. It’s ground-breaking, and my colleague encouraged me to try it out! I set up an appointment with the booking service. On the appropriate day, the person set me up, and I followed the tutorial – it’s very easy to use. Then all you have to do is log on to the personal results area to view your (confidential) results and it helps you understand them by providing clear explanations. The ECG is also of interest to me, because I want to get myself in prime condition for the New York marathon. You are alone in the booth, which means you are more relaxed than when you are with a doctor.”
DATA CONFIDENTIALITY ESSENTIAL FOR TRUST Little by little, insurers are becoming aggregators of services and solutions delivered by all kinds of providers with very different core businesses. The key challenge is to organise and manage relationships between the stakeholders – the solution providers, the payers and the service users. While this multi-intermediary framework can certainly deliver a richer range of services, the issue of the confidentiality of personal health data needs to be addressed. Users’ complete confidence is a vital pre-requisite – without it they will not use the services. CNP Assurances provides them with two guarantees. The first is based on Lyfe’s technical architecture. Neither the platform, nor parent company CNP Assurances, nor the distributors have access to the personal health data. Lyfe works only with approved healthcare service providers with health data hosting
Because the workplace is changing The new quality of life in the workplace agreement incorporates all the advances of recent years in terms of professional equality, prevention of psycho-social risks, and giving employees a voice. It maps out future areas of advancement, such as the right to log off and teleworking.
(HDS) accreditation from the French Health ministry. The second guarantee comes from the organisation itself with the nomination of a data protection officer, a consumer mediator and a lawyer dedicated to the Lyfe service platform.
Getting closer to SMEs,or the story of a three-way partnership How can we meet the social protection needs of SME bosses who are completely focused on running their business? By reaching out to them via a distribution network spanning the full length of France, run by qualified staff able to advise and offer them a full range of group and individual protection solutions as part of a personalised relationship.
This is the approach chosen by social protection group Klésia and CNP Assurances with its Amétis network. It’s one of our win-win distribution agreements for partners and clients.
Conversation between Jean-François Talabot, Franck Leclanger, Philippe Huchant and Christian Schmidt de La Brélie
For them, the regulatory risk associated with employee affairs is a source of uncertainty and highly problematic. They talk about their experience concerning social protection.
The end of the system in France whereby the social protection operator was designated by sector of industry has ushered in a new era for the Klésia Group, which has chosen CNP Assurances to help it secure the loyalty of transport sector companies.
up a new era of dynamic distribution. The latest agreement gives Klésia additional commercial firepower helping it to secure the loyalty of its clients. Similarly, CNP Assurances’ Amétis network is accelerating its efforts to focus on social protection.
STRONGER AND MORE EFFECTIVE TOGETHER Their strengths complement each other. Klésia brings to the table its transport sector client portfolio, its dedicated brand (Carcept Prev) and its products. CNP Assurances possesses the high-quality Amétis distribution network, which proved its worth during the 2015-2016 pilot trials. Klésia is also active in supplementary health and personal risk insurance; CNP Assurances, in savings and pensions.
SHARED CHALLENGES CNP Assurances and Klésia know each other well. Both companies share the same values and have complementary offerings. CNP Assurances reinsures Klésia’s solutions. Klésia, a multi-sector social protection group, generates 60% of its revenues from businesses in several industries – transport, property, tourism and convenience stores, healthcare, consulting and services. The scrapping of the designation clauses spelled the end of captive clients and opened
Christian Schmidt de La Brélie Chief Executive Officer of the Klésia Group
“We have been working with transport companies, among others, for seventy years. We have extensive knowledge of the business, which requires highly specific social protection systems. We put ourselves in the shoes of the professionals we work with, and we create specific products for each sector of activity. For example, we provide cover protecting against being declared unfit to drive, and so we need to give out tips and advise policyholders on the most effective movements and postures. A newcomer to the road and urban transport market could not provide the same level of dedicated commitment – even if it had 600,000 employees. The scrapping of designation clauses had made this a real threat, however. Until 2013, employers and unions could appoint a single social protection operator for their entire sector of industry.
That gave us a captive customer base, but with no real appetite for products, even if they were the best in the world because we invested our savings on acquisition costs in their quality. The end to this system focused attention on client relations, since we had to forge distribution partnerships with insurers sharing the same values.
We decided to communicate with senior executives using an integrated and personalised approach to personal risk insurance covering themselves, their close relatives and all their employees. We chose to work with CNP Assurances, as it was already well established among independent workers, and SME and micro-company managers, and well-versed in combining individual and group perspectives. All the ingredients for success
Together, they cover all the social protection needs of micro-companies, SMEs and unsalaried workers. Amétis’ advisors are trained in the specific characteristics of the social protection regime for the transport sector and its changing nature by a dedicated Klésia team. They reach out to transport companies with between 5 and 20 employees, offering them comprehensive and clear social protection solutions.
“I was contacted by Carcept Prev (Klésia Group), a unit dedicated to social protection in the transport sector, asking to set up a meeting with HP Transports, as its senior executives needed some advice. It’s a business specialising in transporting works of art, which has eight employees and around ten trucks. One of the senior executive had just taken over the other’s business, leading to changes in their respective status just as changes in the sector’s collective bargaining agreement kicked in concerning social protection.
J.-F. T. – They asked question after question about the new arrangements, contribution rates and senior executives’ protection. They also asked for advice on inheritance planning and pensions, two critical areas for SME and micro-company managers. They were very pleased with the answers we gave, and delighted that we came out to see and advise them in person.
P. H. and F. L. – They took the time to listen to us, answer our questions and come up with solutions. We also discovered an issue with an accident that was not covered and sorted things out. We advise Carcept Prev to meet with all SMEs and micro-companies - it’s crucial.
OTHER PARTNERSHIPS As a partner heavily involved in providing finance for the real economy, CNP Assurances ranks among the top 50 global institutional investors in private equity and is at the very top of the list in France. Every year, it invests between €500 million and €700 million in unlisted businesses and guides them throughout their life cycle. As a result, it has been able to spot innovative start-ups, which it supports under its five-year €100 million Open CNP programme. Lendix, H4D and Alan are among its most recent partners, galvanising CNP Assurances’ drive for more openness.
“We are delighted with the confidence displayed by top-tier institutional investors and their commitment alongside us to revolutionising business lending.”
Digitisation is gaining pace and opening up new opportunities to gain territory across borders without the need for intermediaries. Term creditor insurance is spearheading CNP Assurances’ campaign, and numerous innovations are being introduced across Europe, including ambitious partnerships, responsive Web apps, telemarketing, multi-channel customer pathways, personalisation and efforts to combat exclusions on medical grounds. We take a guided tour.
Jean-Pascal Garret Head of the development of term creditor insurance in Europe, CNP Assurances
(1) System in which customers are able to manage their own account themselves using a website or mobile application, giving them complete autonomy.
(1) Can be used on the move on a smartphone or tablet.
In line with its goal of making protection accessible, CNP Assurances was one of the first insurers to sign the AERAS agreement (helping those with higher health risks arrange insurance cover and loans) in 2006. CNP Assurances’ medical advisors have been heavily involved in ground-breaking initiatives, such as active participation in the AERAS and Right to be Forgotten work group since 2015, and the Insurance and Cancer discussions led by the French national cancer institute (INCa) over the past five years.
NO NEED TO REPORT CURED CANCERS The recognition of a right to be forgotten has put an end to onerous medical history declarations, higher tariffs and exclusions for a number of previously muchfeared types of cancer. What’s more, a reference grid now lays out for professionals the terms under which insurance cover can be provided for an initial list of chronic conditions. This will be updated based on regulatory changes, medical breakthroughs and epidemiological knowledge.
That’s when the work we have done becomes meaningful, and we are really doing our job as a personal insurer focused on individual people.”
Group’s first B2C initiative. It is a genuinely disruptive newcomer to the Brazilian market. Youse is a data-driven business with a technologically savvy, positive and daring brand profile. The experiment is likely to be extended into other
Latin American countries, and could inspire CNP Assurances to adopt similar initiatives in the European market.
To finance her idea, she posted it on the Benfeitora crowdfunding platform, which supports collaborative entrepreneurial projects. Her project was one of nine selected to receive additional funding from Youse, which is a partner of Benfeitora. Her website is facilitating interaction and reinventing relationships between neighbours.
GETTING THE BASICS RIGHT The launch of Youse in Brazil was the highlight of 2016, and was successful in more than one way. This 100% digital direct insurance sales platform covers three main types of insurance: motor, household and personal risk. It is much more than a digital shop window for insurance products: Youse offers a customer pathway that is consistent with the language and symbols, usage habits and requirements of a new generation of consumers. The platform was developed from scratch, with a new team of 150 people recruited from Brazilian start-ups and working at a new site in São Paulo. After four months of technical testing and an advertising campaign that made a big splash, Youse was launched commercially in September 2016. By the end of January 2017, it had already sold more than 30,000 policies and it appears to be achieving exponential growth in a country that has 207 million inhabitants and 25 cities with a population of more than one million.
“At the start I thought it was completely mad. I was the first person to buy an insurance policy online, and from a company that no-one knew anything about! But I found that the company suited me well: it’s young, creative and has no limits.”
Bruno Capella Youse employee — Youse is a disruptive initiative in the Brazilian market, for both customers and employees. The brand invites Yousers – both employees and customers – to make a commitment, to be daring and autonomous.”
V.Y. — Youse has a youthful way of doing things. When you contact Youse, it’s like you’re talking to a friend, not a salesperson trying to sell you a policy. Even if you want to make a complaint, you can’t stay annoyed for long!
B.C. — Working for Youse initially comes as a shock if you’ve been working for a traditional company. Youse pushes its staff to innovate, and the atmosphere is relaxed, encouraging a good work/life balance. We have a great deal of autonomy and agility, which means we have direct access to both customers and top management.
V.Y. — What I liked best was how easy it is to use. The products are easy to understand. It’s easy to get a quote and buy a policy without the usual insurance paperwork. The price is really affordable as well, and I felt like I wanted to become a Youser.
B.C. — My job is to ensure that customers are satisfied throughout their Youse experience and to identify things we can improve to achieve the “wow factor”. That means that we need to reinvent ourselves every day for our customers.
STEPPING UP THE TRANSFORMATION OF THE BUSINESS MODEL The Group is preparing to introduce Youse in other Latin American countries in which it already operates. In 2017, Caixa Seguradora will roll out its digital platform in Colombia via a dedicated subsidiary, and will use the Youse brand to increase its presence in the Colombian market. It is currently securing the required authorisations. In Europe, CNP Assurances is planning to step up its digital transformation, drawing inspiration from the Brazilian direct distribution experiment and from other agile models developed with both longstanding partners such as La Banque Postale and more recent ones like Santander. This digital ambition is leading to a significant increase in investment. From zero in 2014, investment amounted to €25 million in 2015, before more than doubling to €59 million in 2016, and is likely to more than double again to €130 million in 2017.
Source: Colombia’s digital agenda and transformation – ministry of Information Technologies and Communications and the World Bank.
Four years ago, Delphine took some children with motor disabilities to a robot exhibition. A Nao robot was there, and the children were fascinated by it. Delphine did some research, finding out about the robots and securing funds, and persuaded the school to acquire them. She explains the advantages of Nao and is already thinking about future innovations.
Nao is a humanoid, autonomous and interactive robot; it is the ideal assistant and, crucially, it is programmable. Aside from its educational content, children can determine how the robot behaves, get it to dance, or write a story that the robot then recites. The school’s children took to the robots immediately. They were named David and Nana, and they became the children’s mascots. Children are much more motivated to learn and find it easier to answer questions asked by a robot than by a teacher. Teachers are also positive about the experiment, although things were tricky at first and bugs frequently arose. Programming the robots and seeing the results give students a real sense of pride, which is invaluable when educating children with learning disabilities.
THE CNP ASSURANCES CORPORATE FOUNDATION: GOING TO SCHOOL WITH NAO Nao was initially designed as an IT and robotics research tool by a French start-up. Now, almost by accident, it is proving to be an invaluable aid to autistic children. Learning applications have been developed, and Nao has been introduced into specialist educational institutions. Around 200 Nao robots are now in use, mainly in the USA and UK. In France, the first Nao robots came into service in Neuilly as part of an ongoing experiment.
Nao hailed by teachers At France’s 2016 innovative teachers’ conference, the panel of judges awarded the inclusive education prize to the Nao school project. Inclusive education means the right of all children to have a high-quality education that meets their essential learning needs and enriches their lives. The award is especially appropriate for this humanoid robot, which has been adopted by children with motor disabilities, and it means that the work done by teachers at the Association Notre-Dame school has been recognised by their peers.
Delphine Moreau Schoolteacher “Four years ago, I took some children to a robot exhibition. Nao was being demonstrated and I was struck by how interested the children were in robotics. I read a report about how Nao was being used with severely autistic children, as well as research carried out in the UK and USA, and my mind was made up. With the help of a CNP Assurances staff member, we secured two robots and arranged for two teachers to receive training from the robots’ manufacturer. The children were fascinated by the robots and immediately took to them. Nao comes with apps that allow you to do simple but limited exercises. Fortunately, Nao can be programmed using icons. This means that we can work with our older children to create custom content together. In future, we would like simpler robots that can interact with younger children and bring them out of their shell.
Corporate sponsorship is a great opportunity to take innovative ideas forward.”
Cédric Fiederer Father of 9-year-old Gabriel “Gabriel has been going to this school for five years now, and he’s blossoming. The school is amazing: staff are committed, the level of care is exceptional, and there are 200 staff members (speech therapists, carers, physiotherapists, teachers, etc.) for 100 children. And it’s free, because the school is run by a charity under a contract with the government.
Sylvie Chaumont-Vallon Head of the CNP Assurances Corporate Foundation “The CNP Assurances Corporate Foundation supports healthcare, disability and education projects led by employees, who play an active role in them.
CNP Assurances Corporate Foundation is working with food retail chain AGORAé to help low-income students maintain a healthy, balanced diet, by funding subsidised grocery stores. In 2017, it will donate €50,000 to six new stores in Clermont-Ferrand, Besançon, Créteil, Versailles, Nantes and Toulouse.
The Chief Executive Officer is responsible for executing the strategy adopted by the Board. He is assisted in this task by the Executive Committee made up of the heads of the company’s key areas. The Committee plays a coordinating role, giving its attention to all companywide issues. The consistency of the Group’s strategic management is underpinned by the fact that at least one Executive Committee member sits on the board of directors of the main subsidiaries in France and at least half the directors of subsidiaries outside France are appointed by CNP Assurances.
(1) Percentage shareholdings of CNP Assurances. (2) The holdings of our main shareholders include the portion covered by the Shareholders’ Agreement (i.e. Caisse des Dépôts: 34.6%, Sopassure: 30.7%, French State: 0.9%) and the portion of the free float they hold (i.e. Caisse des Dépôts: 6.2%, Sopassure: 5.6%, and the French State: 0.2%).
Operating free cash flow, net €1,056 million up 10.5% or €1.54 per share CNP Assurances pays a return to its shareholders and finances its growth using the free cash flow generated by its operations.
81% of CNP Assurances’ investments under management incorporate environmental, social and governance (ESG) criteria of suppliers audited based on performance against environmental, social and ethical criteria
Reduce energy consumption of real estate assets by 20% between 2006 and 2020
Prohibit the detention of businesses deriving over 25% of their revenue from thermal coal 1OO%
5,O35 employees of senior managers are women of employees have a disability
You can also download our publications, including the Annual Report, the CSR report and the Registration Document.
Watch our videos: #AtousNosAvenirs CNP Assurances pays tribute to all those who have been brave enough to reinvent themselves by taking their lives in an unexpected new direction.
Four stories directed by Olivier Delacroix to bolster our confidence in the future.