A booming sector facing major challenges

The insurance and social protection sector is in a state of flux, facing major challenges that are overturning traditional models. The traditional players are having to adapt to a constantly changing environment, marked by :

The arrival of new players
The emergence of bancassurers, digital players and the growth of online comparators are challenging established conventions and shaking up market share.

Pressure on operating costs
Increased competition and a sluggish economic climate are exerting growing pressure on margins for traditional insurance products, forcing players to rethink their pricing models and optimise their processes.

The emergence of new risks
Changing consumption patterns, with the predominance of renting over buying, sharing and lending between individuals, are changing the nature of insured risks. Traditional risks are declining, while new risks, linked to cyber security and new technologies, are emerging.

Constantly changing customer expectations
Today’s consumers expect greater transparency, personalisation and responsiveness from their insurers. They demand seamless experiences that focus on their needs, which means that the products and services on offer need to be thoroughly adapted.