2016 was a good year for CNP Assurances. Our results show this was the case, and so do the conversations that follow in this report. Our attributable net profit rose by over 6% to €1,200 million, demonstrating the Group’s ability to meet its targets despite the low level of interest rates in Europe and recession in Brazil. The Board of Directors wishes to pay tribute to the remarkable commitment shown by employees and the quality of the work led by Frédéric Lavenir, our Chief Executive Officer, to execute the strategy approved by directors.
The Board of Directors’ collective endeavours included in-depth discussions with the executive management team and with the Statutory Auditors, whose analysis backed up our discussions. All the directors have played a full part as their duties require, and the quality of the discussions at Board meetings has been very high. Our unwavering goal has been to be deserving of the trust placed in us by our shareholders and to make sure that our customers receive the best possible service.
Conversation with Frédéric Lavenir, Chief Executive Officer, Alizée Lozac’hmeur and Jean-Charles Samuelian
Putting employee health at the heart of business strategy And a telemedicine booth in the entrance hall!
Innovations are often crafted by customer constraints Story of how a charity came to work with high-end savings experts.
CNP Assurances focuses its digital and European expansion on people Report from Germany, Italy and France.
The world is changing at an increasingly rapid pace – with new lifestyles and ways of working, new priorities and new risk factors, etc.
To insure all our futures today, CNP Assurances has reinvented its solutions – for and with – its customers, its partners and its employees. In this report, they share their experiences.
CNP Assurances’ clout as a large business and its partnership-based model give it the flexibility to rethink insurance for a rapidly changing world.
Alan is a 100% digital supplementary health insurance policy for start-ups, SMEs and freelancers.
Frédéric Lavenir Our ability at CNP Assurances to open up to what is happening around us is absolutely critical. And to stay open to this change, we need to maintain a dialogue. There’s no substitute for talking and working together. So I’m happy we’re having this conversation now.
Alizée Lozac’hmeur With MakeSense, we want to change society for the better, and we want this to be a collective endeavour that everybody can join in with. In today’s world, we face a growing number of societal, social and environmental challenges, and one or two thought leaders, institutions or businesses will not be able to meet them on their own. We need to join forces and form movements to tackle these issues.
Protection needs to be far more individualised, more flexible and more person-specific.
Q: Things are changing so rapidly these days. What are you changing?
Q: New types of job, new sources of vulnerability – How can we redesign protection for all?
Alizée Lozac’hmeur Being an insurer ultimately boils down to supporting each individual’s resilience so that, come what may, they can work out a solution, benefit from a form of solidarity, a community and peace of mind.
That’s where social innovation and social entrepreneurs have a major role to play. They devote a great deal of time and attention to prevention and building communities around people. Jean-Charles Samuelian There are two very interesting routes open to us. Firstly, we can overhaul organisations to make them more effective and nimble and to provide ideal work conditions for employees so that they, in turn, deliver a better product to users. Secondly, ways of working are clearly changing, with unsalaried work, freelancers, consultants, delivery riders, among others, gaining prominence. How can we tie all of this together and focus back on the end user to provide them with first-class access to social protection? Technology, product in the actuarial and, crucially, the user experience sense of the word – an issue that is not given sufficient attention in France – all come into the equation.
Alizée Lozac’hmeur Digital technology gives us a great opportunity to rally individuals from all over to a common cause as it allows them to engage with, contribute and come up with solutions to contemporary problems. We create a form of collective solidarity with volunteers and entrepreneurs both playing their own part.
Jean-Charles Samuelian Technology and digitisation can provide invaluable assistance because they open up access to large groups of people and help to set up effective customer feedback loops for expressing and improving their satisfaction levels.
Frédéric Lavenir That’s one of the major challenges we face. As our ability to predict behaviours and risks improves, hyper-personalisation is a very real danger – indeed, we are already witnessing it. Yet at the same time we need to develop this solidarity – quite simply because people want solidarity mechanisms, too. In Brazil, for example, our Youse subsidiary recently launched the Youse friend motor insurance policy. Customers can get together in a group, and we put a portion of the premium into a kitty, and the group manages its own risk.
Alizée Lozac’hmeur Every day we work with social entrepreneurs – entrepreneurs who set up a business to meet a social challenge and have decided to do so as a business because they believe a viable business model can be created, which is one of the best ways to achieve a lasting impact.
Alizée Lozac’hmeur And we go about this fairly scientifically – we try out a hypothesis, we measure its success and we learn from it. One area
I’m optimistic about is that new generations of entrepreneurs are seeking to embrace this highly collective, horizontal and significant dimension of their business and are ready to change not only the things they do, but also their organisation, too.
Alizée Lozac’hmeur To restore solidarity, I believe we need more inclusive companies, and citizens have a role to play, with their desire to contribute and tools. Digital technology can be a means of stepping up citizen engagement.
Frédéric Lavenir We are so close to people, on the borderline between the commercial and the non-commercial, between hyper-personalised product offerings and new forms of solidarity and sharing. Customers and employees put in so much more than just hard work, their need for solidarity and their personal commitment, and so ethics become almost an intrinsic part of what we do.
Numerous options have been added since to this innovative solution designed specifically to meet the needs of charities, which won the Actif d’or award for innovation in 2016(1).
Conversation between Audrey Kœnig, Laurence de Solminihac and Vahiré Filone de Noisdens
(1)11th edition of the Actifs du Patrimoine awards held by L’Agefi.
Laurence de Solminihac OHS’s Head of administration and finance “Restructuring prompted us to sell off a large portfolio, and to put our dormant treasury to work harder, while we finalise our project arrangements. Previously, we had used conventional banking products, passbook savings accounts and term deposit accounts. However, the returns had become almost negligible, so we decided to adopt a more diversified approach. As a charity, we need to make sure our investments are secure and clearly demonstrate to our trustees that we are managing our cash properly. On the recommendations of our portfolio investment advisor from the Caisses d’Epargne network, the CEO and I proposed adopting Flexi Sérénité to our board of trustees. This life insurance product was new, and complex from a technical standpoint, making it difficult to explain in layman’s terms. We explained to our management bodies that at worst we would not earn any money if conditions turned against us, and at best, we would earn a higher rate of interest on the amount we invested over four years. Since the security of the investment was assured, they backed our proposal.”
The Objectif Handicap Solidarité (OHS) charity cares for over 200 people with disabilities at seven medical and nursing facilities in the Côtes-d’Armor department. It has a staff of 200 employees and an operating budget of around €10 million p.a.
Everyone wins in private equity Private equity provides support and guidance to unlisted companies during their development and transformation, shielded away from the turbulence of the financial markets. Over the past twenty years, private equity has outperformed other asset classes. CNP Assurances is a major player and allows its wealth management clients to capitalise on these performances, while giving them the option of cashing in their savings at any time. That is the benefit of the PEPS policy, the latest addition to the CNP Patrimoine’s range of life insurance products. CNP Assurances is alone in being able to offer these arrangements because of the size of its portfolio, its expertise in selecting early-stage companies and its long tradition of working with unlisted companies.
Vahiré Filone de Noisdens Partnership officer, CNP Patrimoine, “At the outset, our goal was to address the issue of low and even negative interest rates, and the regulatory requirement to protect charities’ capital. That’s why we designed Quattro Sérénité – 25% to 35% unit-linked with 100% capital protection at the four-year maturity date. The solution appealed to charities, and the partners proposed it to other clients, who wanted to make adjustments. Their feedback was unanimous – we want it to be “longer”, with a “higher unitlinked component”. We went back to the drawing board, and a few weeks later, we launched Flexi Sérénité, a fully configurable product – the extent of the capital protection, the maturity, and the unit-linked/euro-denominated mix. It was an equally immediate success. Lib’RT, the next innovation, simplifies
Audrey Kœnig Head of Wealth Management, Banque Privée 1818 “We work very actively with CNP Assurances, which after just one year is now one of Banque 1818’s top five insurance partners. How has it achieved this? By demonstrating its ability to adapt its offering to market demand and to promote take-up of it by our sales teams. The dedicated team’s flexibility, its commercial presence alongside our teams and our clients, and the ‘CNP Assurances’ name make it a key partner for Banque 1818.”
and provides security for investing in the financial markets. Clients are given access to a temporary unitlinked vehicle paying them interest without missing a single day, and they have three to nine months to decide on their policy’s unit-linked/ euro-denominated mix.
We adjust our solutions in real time. We go out to explain them to the teams of our banking partners and we support them with the advice they provide to clients, right up to the signature – and we can even be at the meeting, “should they so wish”.
80-12, a high-potential combination The value proposition behind the new “Croissance 80-12 years” vehicle designed by CNP Assurances with La Banque Postale, its distribution partner, is to increase expected returns by accepting a degree of risk. This provides a way of boosting savings returns with a guarantee covering 80% of capital after twelve years, or of diversifying an existing policy while maintaining or refreshing its tax status. Options include securing capital gains, switching to discretionary management or harnessing opportunities to boost performance.
A SIMPLER AND MORE INNOVATIVE APPROACH WITH BANQUE POSTALE These are exciting times for the partnership with La Banque Postale. In 2017, CNP Assurances is targeting new client segments with BPE, La Banque Postale’s wealth management arm, and Easybourse, its online broker. Diversification in life insurance is gaining pace via the growth vehicle to combine capital protection and the prospect of positive returns (see box). Digitisation is making life simpler for our clients, partners and employees. A fully-digital life insurance policy is in the pipeline with Easybourse, with all payments received from partners and clients – close to three million letters in total – set to go completely electronic.
Finding the beneficiaries of life insurance policies on which payouts have not been made after a policyholder’s death is a major responsibility for CNP Assurances, which manages over 150,000 policyholder deaths and an average of 360,000 beneficiaries every year. This task may sound simple enough, but it requires commensurately large human and financial resources, including over 340 expert managers, data scientists and external investigators. CNP Assurances’
Based on his ten years of working with CNP Assurances, he explains the challenges and rules involved in tracking down beneficiaries.
Anani Olympio Head of CNP Assurances Data’Lab “To help identify policyholder deaths not reported to management units, the first stage in the process is to cross-check CNP Assurances’ policy portfolio against INSEE’s RNIPP(1) database. AGIRA(2) provides an exact matching service between insurers’ data and the RNIPP database, which can find 87% of the recently deceased. In almost all cases, where information about deceased policyholders is not found in these two databases, the situation is caused by errors (accents, hyphens, spaces) in surnames, first names, or date and place of birth.
By 2009, CNP Assurances had sized up the task and called in licensed investigators to help find the beneficiaries. Between 2012 and 2014, the resources devoted to the task were scaled up fivefold, with a 60-strong team fully dedicated to handling case files dating back to before 2007. Notwithstanding these efforts, the supervisory authority took sanctions against CNP Assurances in late 2014 after an inspection that lasted for a year, illustrating the complexity of the issues.
GARGANTUAN TASK The search began with the oldest policies, but the firsttier beneficiaries had died in some cases, or were too elderly to manage the requisite administrative formalities, or they decided to waive their rights given the small amounts at stake.
Committed to helping our policyholders The Data’Lab programme is overseen by a steering committee representing all CNP Assurances’ business units and divisions. In late 2015, from a selection of 22 process optimisation projects, the committee whittled the field down to five, and CNP Assurances’ employees voted to pick the winner. The project of improving detection of unclaimed policies won handsdown, claiming close to 50% of the votes cast. This also reflected employees’ attachment to continuously improving the service provided to policyholders.
since 2009, with three quarters being resolved, and 100% of policies prior to 2010 taken in hand by year-end 2015. Since then, efforts have been stepped up further. Over 340 managers have been drafted in, a formal investigation process has been introduced, two investigation companies and a genealogy firm have been retained, and the latest data science and big data techniques are used. Preventative action has also been taken, such as educating partner networks and clients about wording the beneficiary clause precisely to avoid creating additional unsettled life insurance policies in the future. CNP Assurances now applies some of the highest standards in terms of the management of unclaimed policies and the search for beneficiaries.
Making things easier for beneficiaries Life insurance, often a savings vehicle for pensions, is also a tremendous form of inheritance planning. To make the search for policy beneficiaries easier and to avoid potential disputes between them, CNP Assurances takes great care to word the beneficiaries clause precisely and encourages policyholders to update it after key family events (marriages, births, etc.). In 2017, a dedicated website for beneficiaries will make it easy to submit and track the progress of a claim online, while further shortening payout times.
We are living for longer, and we are working for longer. The widespread adoption of supplementary health insurance and new ways of working have given businesses a central role to play in their employees’ health insurance planning. Prevention and well-being in the workplace have become strategic priorities. CNP Assurances has recognised this, launching a new generation of services. We report on how our partner Icade uses the Lyfe online health and well-being platform and the H4D telemedicine booth, supported under the Open CNP
Thomas Saint-Peron Head of digital marketing for Lyfe at CNP Assurances
He is involved in the development of the Lyfe platform and exploring the challenges in this new approach to healthcare – building a social protection ecosystem, establishing its business model and keeping data confidential.
The Lyfe platform offers accredited online health services including the arrangement of medical appointments for employees, their parents or their children, a round-the-clock chat service with doctors who respond within an hour, and a telephone assistance service providing help. This innovative service offering intended for members of mutual and personal risk insurers and employees of CNP Assurances’ business partners complements its health and personal risk insurance products and its assistance services. Together, this helps to add substance to a new blueprint for the personal insurer, which supports everyone on a daily basis throughout their life, whether they are at home, in hospital or at work.
Corinne Lemoine Icade’s HR department “In the past ten years, Icade’s employees have seen a great deal of changes and, with the backing of the Caisse des Dépôts’ strategy, the Group has invested in quality of life in the workplace for several years now.
As part of an innovation programme focused on the property of the future, the idea of a health service within the business took shape. A project group designed a user pathway combining health conferences with access to a medical teleconsulting booth. This project was developed together with the CHSCT health, safety and working conditions committee, the occupational doctor and all the social partners. Initially, it raised all sorts of questions about the confidentiality of employees’ health data and about the booth’s hygiene. One year on from the launch of the health pathway, our statistics have backed up our decisions. Devising a model to pay for them is the next task. Even so, the idea has already attracted Icade’s commercial property arm, which plans to offer this service to tenants of our business parks.”
“One of the goals for Lyfe was to play a part in transforming use of health products and services by combining the simplicity of digital products with the expertise of health professionals. Health advisors on standby round-the-clock enable Lyfe’s users to ask doctors for advice by email, chat, video link or phone, 24 hours a day. This service gives users access to high-quality health information and advice. Lyfe goes beyond strictly healthcare questions and covers prevention, coaching and well-being, plus tips for the elderly. The platform also offers a broad spectrum of assistance services for carers, information, guidance and in-home diagnostics. We empower users to help relatives with care needs or losing the ability to lead independent lives to promote solidarity between the generations. This is a truly compelling aspect of Lyfe.”
ROLLING OUT THESE NEW SERVICES FOR AS MANY PEOPLE AS POSSIBLE These services are not currently reimbursed by the French social security system. To broaden access to this new approach to healthcare, CNP Assurances is proposing that its partner businesses, mutuals and personal risk insurers should jointly bear the cost of Lyfe’s services. For example, asking a doctor a question at any time of day and getting an answer within an hour costs €6. Negotiations with service providers based on volume commitments have reduced the cost by 15%. The business can also contribute. That’s what CNP Assurances has decided to do by offering this service to its employees under the quality of life in the workplace agreement. It bears the cost of 50% o the question. More broadly, a contribution from the supplementary health insurer for prevention purposes appears a distinct possibility in the future. And that could ultimately open up access to this type of service to a much larger number of people.
1.8 MILLION BENEFICIARIES HAD ACCESS TO LYFE AND ITS SERVICES BY THE BEGINNING OF 2017
“I needed to have some X-rays taken. Thanks to Lyfe, I set up an appointment in Paris within 48 hours at a centre close to my office. A long list of medical appointments can be arranged, and that can be very useful. I also tested the H4D booth to have a check-up. It confirmed that I am short-sighted, and I finally decided to address the problem!”
“This agreement reflects the latest changes in how people work. It talks about making decisions jointly and encourages experimenting with new methods. It aims to achieve the best possible working conditions for CNP Assurances’ employees amid the ongoing transformation in the insurance world.”
A pioneer in the implementation of the distribution agreement between CNP Assurances and Klésia, which he regards as a win-win deal for all concerned.
Amétis, a trusted network Amétis, a network of savings and personal risk insurance experts for individuals since 2004, has become a network of social protection experts serving SMEs, unsalaried workers and individuals. CNP Assurances’ Amétis network is made up of 250 advisors across the length and breadth of France, 70 of them with portfolio management qualifications, operates directly and via partnerships. When it works with a partner company, it acts as a network geared to gaining the loyalty of its partner’s customers by selling them more products (pensions, personal risk insurance and health insurance). Business managers, who are always short of time, can access information digitally and also have a local advisor to call on to work out the best possible protection for them and their employees – a winning formula.
– the product range, advisory capability and brand names of the two groups – were in place. Initial results for our partnership have been very encouraging. We trained 100 salespeople, and arranged over 1,000 client meetings in the first month. On the ground, the teams get on well and are working towards the same objective of making insurance simpler and gaining the loyalty of ‘our’ clients.”
— We never have enough time and need to be in two places at once. For us, the social protection regulations are unfathomable. It was a good idea to send out an advisor to see us. We had plenty of questions for him – about executive and non-executive contributions so as not to create inequalities between employees, about the cost of protection so that it could be factored into our prices –, that’s important.
J.-F. T. – To date, I have met with around 30 businesses and signed 20 or so group protection policies. That really shows that this is a win-win partnership.”
€1OO MILLION ASSIGNED TO THE OPEN CNP PROGRAMME OVER FIVE YEARS
CNP Assurances supports lending to SMEs CNP Assurances has acquired a stake in Lendix, France’s leading crowd-lending platform, allowing SMEs to borrow up to €3 million from institutional investors and individuals. CNP Assurances intends to support Lendix’s expansion in France, Spain and Italy. Ultimately, it, too, plans to lend money to SMEs via the platform.
A responsive Web app that makes it simpler to market term creditor insurance – that’s the idea behind the successful campaign targeting German customers who generally have little protection for their home loans.
No longer having to report cured cancers is part of the right to be forgotten. CNP Assurances’ medical department has played a major role in bringing about this progress.
The partnership with Santander Consumer Finance has reached another milestone, with directlymarketed personal risk insurance products launched in Italy on a test-and-learn basis.
INSURANCE AT YOUR FINGERTIPS IN GERMANY CNP Assurances is already established in Germany in consumer finance and product loans, and it is now moving into insurance for mortgage loans. There is clearly scope to boost take-up of this product in the German market. Death cover is arranged by less than one in two borrowers, and disability cover is barely sold with mortgage loans. CNP Assurances has adopted a digital-led and agile strategy to establish itself as swiftly as possible in the German mortgage creditor insurance market.
BUILDING CLOSE RELATIONSHIPS DIGITALLY IN ITALY The partnership with Santander Consumer Finance in creditor term insurance launched in late 2014 for consumer loans created a whole new segment – individual personal risk insurance – and a novel approach to winning business called “Go Protect”. It has designed customer pathways combined with telemarketing and other fully digital, self-care(1) pathways, which include the option of speaking to an advisor at any time. Go Protect puts customer satisfaction at the very centre of its approach, and a measuring tool is used to identify any weaknesses in pathways and offerings. After its inauguration in Italy in 2016, it was tested and validated on 2,500 contacts, before being rolled out to 60,000 customers and generating over 1,000 personal risk insurance policy sales.
Jean-Pascal Garret Head of development of term creditor insurance in Europe, CNP Assurances “The marketing tool – an application that can be used on the move – was built jointly and tested with the brokers of our distribution partner, the BaufiSecure network. There were two key points in our specifications: the product had to be simple and work on the go. The result is a multidevice online distribution system(1) that harnesses CNP Assurances’ expertise and facilitates the sales team’s task of getting to know customers and their needs. Designed as a methodological guide, it incorporates a modelling tool, which can be used as a basis for discussions with customers and to personalise their cover to fit their profile and their plans. The health questionnaire has been simplified and can be signed on the spot. Everything possible has been done to appeal to customers in Germany.”
“The partnership with Santander Consumer Finance is a groundbreaking one – it is panEuropean in scale and it uses digital marketing techniques, including very extensive use of data analytics to target potential customers. The potential is vast, as Santander Consumer Finance’s customer base is one of the most impressive in Europe, with over 10 million active customers in the countries where we are established. The Italian call-centre team was rapidly upskilled thanks to real-time support provided by our teams in Dublin. Harnessing this successful trial in Italy and the new digital tools developed, the Go Protect approach is currently being rolled out in Germany, the flagship country for our partnership, since it accounts for 50% of the consumer finance business with Santander Consumer Finance. The other eight countries will follow suit in 2017 and 2019.”
Simplifying things for policyholders in every possible way Depending on the amount borrowed and the borrower’s age, a medical examination and lab tests may be requested. CNP Assurances arranges for potential policyholders to undergo these tests at a single location as quickly as possible without any upfront charges by downloading a medical prescription and having the results transferred electronically. An appointment can be set up in three days, and the service is available in 30 towns and cities across France.
Martine Reverberi Chief medical advisor, CNP Assurances “The right to be forgotten is just the beginning. The technical review performed by the industry work groups will continue, establishing a position condition by condition. For example, chronic illnesses presenting profiles with a normal or close-to-normal insurable risk are already being looked at. We need to overcome the technical complexities arising from the diversity of these conditions and their progression. In many cases, there is not sufficient epidemiological data, but the unprecedented efforts by patient advocacy groups are on the verge of changing this. We are gradually drawing together different strands of analysis from both advances in scientific knowledge and a more
MILLION REQUESTS FOR (MORTGAGE AND BUSINESS) TERM CREDITOR INSURANCE IN ONE YEAR IN FRANCE, WITH 15% SUBJECT TO HIGHER HEALTH RISKS
political reading of trends in society. When you have representatives of patient groups in front of you, they can be highly persuasive. They talk about the trauma of living with a challenging longterm condition for the patient and their close relatives, and about their legitimate desire to put the past behind them.
Youse is a 100%-digital insurance platform launched in 2016 in Brazil, providing motor, household and personal risk policies. Youse is operated by our Caixa Seguradora subsidiary and is the CNP Assurances
Conversation between Vanderson Yamashita Da Silva, Bruno Capella and Camila Carvalho
Vanderson found that Youse was right for him, and he used it to buy a motor insurance policy. What attracted him was the simplicity of the quote, the affordable price and the 100% - online after-sales service. He has also now taken out a personal risk insurance policy and is continuing to interact with Youse, becoming a real Youser.
A data-driven business Youse has an impressive array of resources that it uses to get to know its customers, initiate relationships with them and respond to their feedback almost in real time. The trust it has generated within the Youser community is equally impressive. Youse harnesses artificial intelligence and big data, but not indiscriminately. Our innovations must serve the individual. In Europe, as well, our agile and usercentric approach is producing new ways of doing things. We are France’s first insurer to introduce a chat-enabled website for reporting creditor insurance claims. The site uses everyday language and allows users to receive support in the way that suits them, either 100% digitally or by speaking to someone.
THE YOUSERS’ COMMUNITY Giving customers the power to explore how they want to insure themselves and their property is part of Youse’s DNA. As a brand, we invite Yousers – both employees and customers – to make a commitment as part of a community. Our staff is organised into squads – mini start-ups given an almost free rein in a given product area, handling the whole process from design to delivering the customer experience. Youse’s user-centric approach is rounded out by a call centre featuring 400 assistants. Youse is helping the CNP Assurances Group reach new customers in the Brazilian market, but the real aim of the project lies elsewhere. That aim is to make CNP Assurances a major player in digital sales by using all the lessons we have learned from the Youse revolution. That means using technology of course, but most importantly treating insurance as something more than just a guarantee, along with responding rapidly to customer feedback. We can now adjust our offering the same day or the same week, whereas it used to take us months or years.
INNOVATIVE AND COMMITTED For each policy it sells, Youse pays one Brazilian real to Benfeitoria, the Brazilian crowdfunding platform for entrepreneurial projects with a social, economic, cultural or sporting focus. Youse has selected nine projects that fit with its own values, and has doubled the amount of funding they received via the platform so that they can speed up their development. An example is the “Any sugar” project.
Camila Carvalho Leader of the “Any sugar” project “The main objective of the ‘Any sugar’ project is to help people spend their money more wisely by making the best use of their existing resources, and to create a sense of community among neighbours, particularly in large cities. Crowdfunding culture is still in its infancy in Brazil, and Youse’s help has given us real impetus. It has enabled us to roll out the ‘Any sugar’ project in other cities and extend the swapping service to things like food and carsharing. It’s great that companies like Youse can support initiatives helping to make the world a better place. In the future, I would like to create insurance policies for things that people lend to each other, in partnership with Youse.”
“Giving customers the power to explore how they want to insure themselves and their property is part of Youse’s DNA.”
Conquering Bogotà After Argentina and Brazil, CNP Assurances is targeting Colombia, which has more than 48 million inhabitants. Colombia is undergoing a digital revolution, with increasing ownership and usage of digital devices and services. The proportion of internet-connected homes has risen from 17% to 50% in five years, and 55.9% of the population are Internet users. In 2016, the Colombian office set up a squad involving prospective customers, companies and experts to create, in the space of three weeks, a prototype customer pathway suited to Colombians.
Nao: a schoolfriend for children with disabilities The Association Notre-Dame de Neuilly-sur-Seine school uses two Nao humanoid robots to help children with multiple motor disabilities acquire knowledge and understand emotions.
Younger children can talk to the robots while older ones can programme them, and they are the stars of the school’s end-of-year show.
The project is being led by a CNP Assurances employee and funded by the CNP Assurances Corporate Foundation, which has been addressing major public healthcare issues for almost twenty-five years and is now focusing on reducing social inequality in healthcare.
He speaks about the exceptional support provided to children at the school, the commitment of the teachers, the difference that the robots make and the useful role that IT will play in helping children with multiple disabilities in the future.
She has followed the experiment every step of the way – witnessing both its bugs and the tremendous joy it has brought. Ahead of the final appraisal, she gauges the project’s success by the joy it gives to the children, and is planning how to take it further so that many other children can benefit.
Nao takes children on a journey of development in a way that is fun and very useful for the future. Digital technology has opened up career prospects for Gabriel and made him more independent. The interface is not child’s play, because it uses Google programming tools. But going from being a consumer to a creator is a wonderful thing for a child. The robot is their avatar and if something doesn’t work, they can fix it or start again. There’s no failure with Nao, and robots don’t judge. You can’t imagine how proud the children are when they present their parents with a dance show that they programmed themselves for the end-of-year show!”
With Unis-Cités, a longstanding civic service organisation in France, the CNP Assurances Corporate Foundation encourages young volunteers to raise their peers’ awareness of health problems, risk factors at parties and addictive behaviour. In 2017, the CNP Assurances Corporate Foundation donated another €125,000 and invested in setting up a health-focused e-learning module for Unis-Cités’ 3,500 civic service volunteers.
Saving lives. Since 2009, the Foundation has financed the installation of 3,200 defibrillators, as well as providing potentially life-saving training in more than 2,100 communities. In 2016, it helped Corsica’s national park to install 16 defibrillators in huts along the GR 20, one of Europe’s most famous hiking trails. Initiatives in 2017 include installing an initial 15 defibrillators in parks and gardens in Paris, and providing first-aid training to 4,400 primary school children.
REDUCING SOCIAL INEQUALITY IN HEALTHCARE This is the core purpose of the CNP Assurances Corporate Foundation. The Foundation supports projects that focus on healthcare and improve the quality of life of our most vulnerable citizens.
As part of the Alliance pour l’éducation, the CNP Assurances Corporate Foundation is working to stop children dropping out of education. It gives children attending priority education schools in the Paris region the chance to attend illness prevention courses, day trips to the forest to learn more about nature and the world around them, and sessions to help them prepare for a national diploma, including stress management workshops and revision coaching.
A health-focused Ideas Box The people who are the hardest to reach are often those who need prevention messages the most. The CNP Assurances Corporate Foundation has decided to reach out to them in priority neighbourhoods and rural areas, working with Bibliothèques Sans Frontière (BSF, Libraries Without Borders) and its Ideas Box. This portable media centre, which is transported on two pallets and can be set up in less than twenty minutes, provides 100 m² of educational, connected and creative space dedicated to promoting health. There are no taboos, and topics include nutrition, drugs, sex, unhappiness, access to rights and care. The project was developed by the CNP Assurances Corporate Foundation’s healthcare experts, and the Foundation will provide annual funding of €230,000.
CNP Assurances continues to pursue the development of its business activities, speed up its transformation and launch strategic projects for the Group, with the attentive and unstinting support of its Board of Directors.
Thanks to its robust and predominantly public-sector ownership structure, CNP Assurances can take a longterm view of its development.
Sopassure a holding company owned by La Banque Postale and BPCE Group
Yves Couturier Deputy Chief Executive Officer, Head of the Open Model
In France, net insurance revenue came to €1,599 million. This very steep increase of 15.4% (up 18.8% like for like) was driven mainly by savings and pensions, primarily as a result of the growth in technical reserves and the positive effects of the improvement in the revenue mix. Net insurance revenue in Latin America totalled €938 million. This 1.8% rise (or 7.1% like for like and exchange rates) largely reflected the firm operating trends in personal risk and protection. In Europe excluding France, net insurance revenue rose 18.2% (25.1% like for like) to €245 million, mainly as a result of CNP Santander’s brisk growth in personal risk and protection. Revenue from own-funds portfolios was stable at €771 million.
TOTAL REVENUE net insurance revenue + revenue from own-funds portfolios €3,553 million up 8.1% up 11.7% like for like in 2O15 in 2O16
Organic growth target revised upwards In view of the strong organic growth of 12.8% in EBIT reported in 2016, CNP Assurances has raised its target for 2018. It now aims to deliver organic growth in EBIT averaging at least 5% over the 2017-2018 period.
€2,638 million GROUP EBIT up 8.7% up 12.8% like for like
(1) Source: CNP Assurances’ 2016 annual results (IFRS). (2) Personal risk, health, term creditor and property & casualty insurance.
For further information, please refer to our 2016 CSR report on www.cnp.fr
For CNP Assurances, taking a long-term view is a necessity deeply embedded in its business as a personal insurer and an investor. In 2016, it implemented a new climate strategy and achieved highly satisfactory initial results supporting the energy and environmental transition.
Climate strategy a highly satisfactory progress report Objective Percentage achievement 20% reduction of the carbon footprint of the portfolio of directly held listed equities between 2014 and 2020 7O%
€5.5 million donated to healthcare, social integration and community research projects reduction in the Group’s paper consumption for internal purposes tonnes of CO2-eq. sunk in forests in France, or nearly 16 times the carbon emissions generated by the Group’s activities
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CNP Assurances | Registered office: 4, place Raoul Dautry, 75716 Paris Cedex 15 | Tel.: +33 (0)1 42 18 88 88 www.cnp.fr | Group Caisse des Dépôts i n s u r i n g a l l o u r f u t u r e s