Groupama Asigurari in Romania joined our Network at the beginning of this year – thanks in great part to the support of Dr. João Quintanilha, CEO of Groupama Seguros in Portugal, who made this new partnership possible. We are happy to announce that we have now concluded our first contract, helped by the smooth collaboration with the professional team at Groupama Asigurari. Below is an interview with François Coste, CEO of Groupama in Romania, who explains his views on our new relationship.
Groupama in Romania has recently joined the Swiss Life Network. What does this partnership bring to Groupama, and what was the context?
FC: The business market in Romania has become increasingly dynamic, and the number of multinational companies active here has grown over the past few years. There is definitely an increasing focus on employee benefits insurance products. Against this background, the agreement signed with the Swiss Life Network in December last year is very important for us; it provides a great opportunity to work with a strong partner, well known for its vast expertise in international employee benefits solutions, while also offering us access to potential new business.
In Romania, as everywhere in Europe, companies wish to improve their level of attractiveness on the labour market by offering employees competitive work benefits, including customized life and health insurance solutions based on their corporate profile and field of activity. This is one of the reasons behind the increase we see every year in life and health insurance in Romania. Since 2014, life and health has been a strategic direction for Groupama Asigurari, and the Swiss Life Network partnership will definitely help our progress in this direction.
Groupama is the only insurer in Romania to be part of Swiss Life Network. What are the goals of this affiliation, and how does it match the company’s global strategy?
FC: Groupama Asigurari has now been on the Romanian market for ten years. The past decade has been filled with challenges that we have overcome as the company has grown stronger. Our 2016 results were very good overall, with a 16% increase in profitable revenue. Despite market challenges, we have proved for the third consecutive year that we are able to generate profit in a sustainable way and that we have the potential to achieve more. Our satisfied clients and employees contribute to our sustainable financial results. In terms of clients, we registered a net promoter score of 66, and 92% of our clients have declared that they are very happy with our services and products.
Based on these very encouraging results, we are continuing our efforts in the same direction in 2017, seeking to become a preferred insurer and achieve profitable growth. So we are focused on further improving operational efficiency and accelerating growth through our strategic partnerships, brand awareness, innovation, risk diversity, access to talent, and best practices. Given the current market dynamics, our group life and health lines are a strategic priority for us - our health business is on the rise and our plans continue to be ambitious. Our portfolio now includes around 60,000 policyholders, only four years after entering this market.
In terms of benefits, by associating with the Swiss Life Network, our company gains additional access to its unique international expertise in the area of employee benefits, as well as to a network of multinational clients with an active presence in Romania (around 150 clients in the worldwide Swiss Life Network) whose preference we want to earn through our excellent services and by insuring the continuity of their professional or personal plans. The Swiss Life Network also gains a strong partner in Romania, with authentic values - proximity, responsibility, solidarity and performance – and a commitment to always delivering on its promises and respecting its clients. We believe this is a win-win partnership, which brings great value for both parties involved, but mostly for our partners, the clients.
In conclusion, how do you see the future development of this partnership, and what are your expectations both in the short and long terms?
FC: We are committed to a long-term partnership with the Swiss Life Network in Romania, so we will continue to develop our collaboration in a sustainable way in order to enhance our performance in the employee benefits area. We are interested in getting more expertise in this field by building international connections and trusted partnerships through our exclusive affiliation to the Swiss Life Network. We are confident that by developing this strong partnership, we will come closer to achieving our strategic ambitions of profitable growth and becoming the preferred insurer in Romania, both in the short and the long term.
Groupama Asigurari is a leading French insurance company on the Romanian market, recognized for the quality of its services and the flexible insurance solutions it provides to 1.1 million individuals and 67,000 legal entities. As part of an international insurance and financial services group with 32,600 employees and members serving 13 million customers globally, Groupama Asigurari places the client, its most important partner, at the core of its development strategy. The company’s simple, flexible and adaptable products and services ensure the continuity of its clients’ plans when unpredicted events occur.