” Let’s be a little optimistic! » These are the words that are spoken by Pierre Donnersbergco-president of the Diot-Siaci brokerage group, invited to speak on 17 October at the leaders’ plenary meeting in Reavie. Traditional meeting on the second day of the congress organized at Cannesthis year’s conference focused on the “new challenges” facing personal insurance. Namely heating climaticaging demographicthe revolution technologically or even “the distrust of politics “. ” At my age, I have seen the world overcome many difficulties », insisted Pierre Donnersberg. Implied: he will overcome these too.
” Can we collectively stop scaring people for nothing? », added Guillaume Boriemanaging director of Axa France, who defends the same optimism. Our function is precisely to find answers to the development of these various challenges. » The increase in risks can actually be seen as ” an opportunity for our industry », admitted for his part, Thierry Legermanaging director of Scor. However, the reinsurance company could not help dampening this great optimism: ” We are in an era where risks are increasing faster than before, so it raises the question of their insurance option. Because if there is no longer any danger, there is no longer any insurance.”
Climate change
First theme raised during this plenary: climate change, the consequences of which we are beginning to see on health. ” An average temperature increase of 2.5° or 3° will have a significant impact on health and mortality.”explained Thierry Leger. ” Two major problems will ariseand then detailed Guillaume Borie: the general impact on the population with an increase in respiratory and tropical diseases as well as disruptions inorganization of the work. As a health and life insurance company, we must take an interest in that. »
Demographic aging
Another problem highlighted: ” Life expectancy continues to rise, while life expectancy is falling », recalled Guillaume Borie, given that there are “ a major problem in dealing with aging and loss of autonomy. » « No country has yet found the solutioncontinued Thierry Léger. Let’s be honest, dependence is a topic that we‘do not want to talk, which complicates the distribution of offers. In addition, there is a lack of data: the margin of safety, which must then be added to the price of risk, makes insurance more expensive than expected. But these products would undoubtedly be better accepted if the government showed a real desire to take ownership of them, e.g. by making part of the coverage compulsory. »
In 2019, it was Libault report quantified the costs of addiction to 10 billion euros per year in 2030: ” We’re halfway through and nothing has happenedregretted Guillaume Borie. We have already previously solved this type of problem on other risks. We should be able to get there. One element makes me optimistic: employers have a direct interest in finding a solution because they face the challenge of helpwhich gives them serious organizational problems. »
The aging of the population also weighs on health care costs. “ We know that they are expected to increase, explained Guillaume Borie. It’s time to move away from postural logic: the debate between the costs of compulsory and supplementary insurance doesn’t make sense. In the end, it is the total cost of the healthcare system that counts: someone has to finance it. » The general manager of Axa France recalled in passing that ” over the past four or five years, Ondam (National Health Insurance Spending Target) has not been reached even once. This is a sign that something is not completely under control. And I’m not convinced that liable contract fixed something. The three professional associations have made proposals and are ready to sit around the table to review the organization of our system. »
From his position as a mediator, Pierre Donnersberg sees salvation in prevention : “ To overcome the difficulties that companies may have in managing their risks, we are making a transition to prevention. A topic that companies are quite interested in. “However, health remains a risk under pressure. ” We have a debate on the side of capital, which supports these risks, observed Thierry Léger. Because health care costs rise, especially significantly during the last five to seven years of life. What to do with these five to seven years? Are we prepared to make them last six or eight years? It is of course a difficult decision and, above all, a political issue.. »
Internationalization
Is it to escape the aging of the European population that Diot-Siaci has launched an internationalization strategy and established itself in a thirty countries ? “Preallysmiled Pierre Donnersberg. It’s a strategy that started a long time ago when I saw the Americans buying the French broker flagships. I am convinced that if these companies had not decided to remain Franco-French, they could have had a significant international development. From the start I defined our scope: Continental Europe, Africa, Middle East and Asia. With a strategy: try to be a credible alternative to the large Anglo-Saxon groups with European sovereignty. »
Political risk
Yet, faced with political uncertainty, how is the insurance world responding? “ Riots have existed for all time, even if it was only in 1789 “, recalled Pierre Donnersberg mischievously. ” But in a country where riots take place every week, there is no more uncertainty, and therefore no more insurance. », replied Thierry Léger. In a barely veiled reference to New CaledoniaGuillaume Borie wondered ” the position of the state, its management of the organization of this area and the maintenance of order, which means that no one wants to ensure it anymore. »
” The role of an insurance company is to assess a risk, determine the size of the premium and find a customer to pay it, emphasized Pierre Donnersberg. We are here to provide solutions for companies. And if the government asks us to freeze prices (in healthcare, for example), well, there won’t be any more insurance companies. Or it becomes political speech without effect. There have been a few in our history… » Guillaume Borie insisted: “ If we are questioned regularlyere of the public authorities, it means‘we have a rRole to play! “But to play this role as best as possible,” all insurance families must stop parochial disputes and speak with one voice to make their proposals. »
Economic crisis
Another topic discussed: the Barnier government’s strategy for restoring public accounts. With this measure in particular included in the PLF – whose amended text was rejected in the finance committee – which allows for a extraordinary contribution on the profits of large companies. ” When we are one of the first companies in a country to experience this kind of difficulty, it is our civic responsibility to contribute to the recovery of public finances. », commented Guillaume Borie. However, provided that ” the track is clear and that stabilitytax mechanisms attachsavings and pension are not affected. »
” Over two years, this will have a small negative impact on our share price.developed Thierry Léger. But it will not change our strategy. Unless this increase in the tax rate was long-term: there would then be strategic considerations about the establishment of the group, it is obvious. » In addition to the case of Scor, Thierry Léger said to himself: very concerned about France’s debt. It is a backpack whose weight slows down the country’s investment and economic development. France has always been a country of innovation. When you start to touch research, you take risks. »
As optimistic as ever, Pierre Donnersberg, for his part, assessed that the current crisis ” is more political than economic. Our political class has a few problems to solve. But our companies are doing quite well, they are exporting and continuing to develop. Without companies of this quality, our country would be truly flat.. »
Technological revolution
Finally, when asked about the driving force behind the development of their companies, the three leaders answered in unison: human capital! ” In our consulting companies, there is nothing else », estimated Pierre Donnersberg. ” Our employees and ours distribution partners is our first strength, long before technological investments », added Guillaume Borie.
For a reinsurance like Scor, the data is also crucial: ” It is our raw material. It will allow us to push the limits of insurance, to be more efficient, to better control our obligations. In the next ten years, this will be the most differentiating element. On the other hand, technologies and artificial intelligence are just a tool that serves data. “Guillaume Borie also wanted to putthe impact of AI : ” Each phase of technological innovation generates excessive enthusiasm. I am glad to see that in the face of AI we are returning to a more rational vision quite quickly. »
