Conversation #4 : 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
Jean-François Talabot,
Amétis advisor, Nice
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.
Franck Leclanger and Philippe Huchant,
Senior managers of HP Transports Nice
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.
Christian Schmidt de La Brélie,
Chief Executive Officer of the Klésia Group Paris
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.
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 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. 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.
Christian Schmidt de La Brélie,
Chief Executive Officer of the Klésia Group
We have been working with transport companies, among others, for 70 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 managers 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 – 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.
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 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.
Jean-François Talabot,
Amétis advisor
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 managers 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 managers 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.
Philippe Huchant & Franck Leclanger,
Senior managers of HP Transports
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.
Jean-François
They asked question after question about the new arrangements, contribution rates and senior managers’ 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.
Philippe & Franck
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.
Jean-François
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.
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.
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.
We are delighted with the confidence displayed by top-tier institutional investors and their commitment alongside us to revolutionising business lending.
Olivier Goy, Founder and chairman of Lendix’s management board
€1,00 million assigned to the OPEN CNP programme over five years