Insurance Distribution in France: Five Predictions

by Nicolas Michellod, February 25, 2009
Industry Trends


The French insurance market has a very competitive distribution landscape. While bancassurance dominates the life insurance sector, agents and direct staff of mutuals are the main non-life channels. However, the recent evolution of the French distribution environment shows signs of changes to come in the near future.

In a new report, Insurance Distribution in France: Five Predictions, Celent discusses the drivers of change in the French insurance distribution landscape, such as the soft market, the need to generate insurance products profitably, the need to build relationship with the 18-to-25 generation, and the technological advances, as well as the customers’ changing attitudes toward financial services and how insurance companies will play an important role in the French distribution mutation.

"French insurers will be pushed to migrate to low-cost channels in the near future," says Nicolas Michellod, senior analyst with Celent’s insurance group and author of the report.

"French insurers should consider IT initiatives emphasizing best-in-class online insurance platforms, flexibility of core applications, business process management, and modern integration," he adds.

In this report, Celent describes the current distribution landscape in the French life and non-life sectors, providing a snapshot of the recent evolution of distribution channels. Celent reviews the distribution challenges French insurers are facing and defines the drivers of change for insurance distribution. In addition, Celent explores strategic responses that might emerge from French insurance companies. Based on this analysis, Celent offers five predictions about what might happen in terms of insurance distribution in France.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

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Table of Contents


Executive Summary 3
Introduction 4
The French Insurance Distribution Landscape 5
Challenges and Drives of Change 11
Five Predictions 16
IT Considerations 25
Conclusion 30


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