Insurance in France: Market and IT Overview

by Nicolas Michellod, August 19, 2008


Zurich, Switzerland 19 August 2008

France’s insurance market is the fourth largest in the world, experiencing an average growth rate of 8% during the last five years. French insurance companies have already adopted technology at a high level, but there are some domains where adjustments and initiatives could add value to organizations.

In a new report, , Celent discusses key drivers in the French insurance industry and how insurers should be positioning their IT to take on upcoming challenges. Despite a slowdown in growth in 2007, Celent believes that the French market will maintain upward movement as long as French insurers are able to adapt to the new business rules impacting the market. 

In a soft market where client behavior is changing and competition is increasingly fierce, insurers face tough challenges in trying to maintain their market share and gain competitive advantage. Successful insurers will be those that are able to understand the current drivers of change and find the right response in terms of business and IT strategies. Insurance companies with the ability to detect and attract new segments of potential insured will manage to thrive in this difficult environment. Additionally, companies with a lean administrative structure, strong brand, and efficient multichannel distribution will be able to attract new insured and promote client loyalty. Key success factors will be the implementation of an integrated multichannel distribution network and mastery of all facets of the insurance value chain.

"Optimally servicing clients will be the main concern influencing new IT investments in the future," notes Nicolas Michellod, senior analyst with Celent’s insurance group and author of the report. "New IT project drivers will also include the need to implement efficient and comprehensive distribution models, promotion of lean administration structures, identification of profitable risks and innovative products, and meeting the compliance challenge of Solvency II."

This report looks in greater detail at the size and structure of the French insurance market and discusses salient IT trends. 

The 34-page report contains 14 figures and five tables. A table of contents is available online.

Members of Celent's Life/Health Insurance and Property/Casualty Insurance research services can download the report electronically by clicking on the icon to the left.  Non-members should contact for more information.  

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

Zurich, Switzerland 19 August 2008

Executive Summary 3
Introduction 4
About France 6
The French Insurance Market 9
Market Growth and Drivers 17
Insurance and Technology 20
Technology Trend 26
Conclusions 30


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