This is Paris! This is Open Insurance!

James participated in InsurDay at the Parc de Princes in a round table “Open Insurance in 2023: what do we mean by this term? » Open insurance consists of opening up an insurer’s resources (customer data, offers, etc.) to third-party companies. It is in line with the banking sector, which has been forced since 2018 by the entry into force of the payment services directive to develop open banking. Insurers have no regulatory obligation to explore the path of open insurance, “Everything is pushing them to do so,” James underlined. Having open information systems is a fantastic opportunity to improve the customer experience, launch new innovative personalized products and integrate services from multiple partners. The digitalization of information systems via APIs is on the move in insurance, it responds to a consumption need of policyholders evolving towards ever more user-friendly service. For Advise, we can imagine designing an open model based on an API platform, including a large catalog of products and services adaptable to any partner, whether via a mobile application, a website , a system embedded in a connected object (like a Xiaomi scooter). Advise could thus offer partners the integration of an insurance service within their customer journey and also to do it directly with its brand, because Parachut has only one goal: TO MARK!

More information on the event: here

POG or not to POG ?

Advise was present this week at the conference organized by the FG2A. The regulatory subject concerns the articulation of governance and product monitoring in terms of affinity insurance. POG is the acronym for “Product Oversight and Governance”. A process intended to ensure that insurance products respond, effectively and throughout their life cycle,to the needs of policyholders, needs determined according to a target market. Advise therefore involves documenting all stages of a product’s life, establishing a distribution system, taking note of information on the product and the target market and providing all the necessary information to the insurer. The regulations establish mechanisms, both the designer and the distributor have a role to play. 76% of members surveyed responded that they have a POG and 38% have developed a specific POG process for affinity programs. At Advise this subject is taken seriously and we must be on the lookout for good practices: it’s done!

A mess of sales in Tunis

Last Tuesday, in Tunis, a challenge was held aimed at stimulating sales. And what success! In fact, as of Wednesday evening, the team had an advantage of 2 sales. The principle of the challenge was simple: a stake of 80 dinars in a prize pool, or 10 dinars per hour for each hour worked. However, it was imperative to make at least one sale per hour to maintain the prize pool. Otherwise, a deduction of 10 dinars was made per hour worked.

The team brilliantly met the challenge while preserving the prize pool. Finally, Sabrine distinguished herself by winning 70 dinars, a well-deserved reward for her commitment. In recognition of the efforts of the second person, Linda, who worked with determination all day, she was given a reward of 30 dinars. The team finished 125% of the goal with an SPH (sales per hour) of 0.31. Congratulations to the entire Tunis team!