#conversation n°6

Youse - an exciting new insurance provider for everyone, everywhere

Youse is a 100%-digital insurance platform launched in 2016 in Brazil. Youse is operated by our Caixa Seguradora subsidiary and is the CNP Assurances group’s first B2C initiative. It is a genuinely disruptive newcomer to the Brazilian market.

Vanderson Yamashita Da Silva

Youse customer

Goiânia

Bruno Capella

Youse employee

São Paulo

Camila Carvalho

Leader of the “Any sugar?” project

Rio de Janeiro

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.

THE YOUSER 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.

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 user-centric 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.

Magali Noé, Chief Digital Officer, CNP Assurances

 

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 Camila Carvalho's “Any sugar?” project.

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.

Source: Colombia’s digital agenda and transformation – ministry of Information Technologies and Communications and the World Bank.

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.