Pierre Bonodot (Insurtech France): “By managing uncertainty and covering risk, insurance always involves economic transformation.”


Insurtech France, an association founded under the law of 1901, was founded at the end of 2020 to bring together Insurtech players and support the transformation of insurance to serve customers. The organization’s treasurer, Pierre Bonodot, has agreed to elaborate on the maturity of innovation in insurance.

You are an Treasurer at Insurtech France, what is his mission?

Pierre Bonodot: We operate in an ecosystem of start-ups, established insurance companies and brokers, service providers, incubators, studios, accelerators and investors. There are nearly 200 members today.

Our common values ​​are transparency, innovation and simplicity. Specifically, it is a place for exchanges between actors who share common issues through working groups such as international development.

Does the insurance industry need to take the risk of innovation?


Insurance is one of the main drivers of growth by managing uncertainty and covering the risks of individuals, professionals and businesses. It always involves economic transformation.

Innovation involves not only the distribution of products and services, but the entire value chain, such as the customer journey, complaint management, or internal processes. There are many concrete examples based on use cases. This may include developing better identity verification solutions for customers over the blockchain, detecting fraud through AI, and even optimizing financial processes through data.

Currently, all insurance sectors are concerned. For example, for big risks, by strengthening the use of big data, we can develop new approaches and solutions for scoring, modeling, and risk estimation for risk manager client management, as well as pricing and pricing. You can also improve the extent of damage.

More and more ecosystem development is being seen for partners, insurers, brokers, reinsurers, start-ups and more. The purpose is to build and deliver offers and services that leverage the strengths of each member of the ecosystem. There are many practical principles in the approach. They are first based on the usefulness and appetite of the actor. Key issues are the sharing and protection of data, services and processes, and the sharing of value and customer knowledge among actors.

Finally, there is currently the development of parametric insurance primarily based on climate and agricultural risks. This is a new approach to insurance that systematically uses internal and external data to automate pricing and management processes.

Where have insurance companies changed since the conversion of open insurance?

the term Open insurance It has been used for several years, but since last year there has been a clear acceleration and enrichment of the ecosystem. For me,Open insurance First of all, it addresses the principles of openness and resource sharing in the insurance market. Also, as we saw above, in terms of generalizing tools and processes, it is the composition of an increasingly rich ecosystem with varying sizes, maturities, properties, and standard actors.

Acceleration is not only the development of more and more partnerships and ecosystems, but also the development of increasingly sophisticated partnerships involving two or more players and the development of platformized models where insurance is part of a wider range. It can also be seen in. Service of. Acceleration is finally seen in the regularity of the operational delivery of ecosystems. We are currently taking an industrial approach.

On the platforming side, there are two main trends. Insurers are at the heart of customer relationships, enriching offers with external contributions or integrating a broader ecosystem.Embedded insurance for example. These trends affect all insurers, whether they are start-ups or more established ones.

Do we need more interoperability and data sharing to make insurance more relevant to risk assessment?

Whether it’s about the protection of personal data or the obligation to collect and process customer information, the insurer’s regulatory framework must first be taken into account. The next issue is not only to organize the sharing of data between partners, but beyond that, to integrate the data dimensions “by design” into all transformation projects and determine the level of detail and rules for this data. Will be. For storage and use.

Ecosystems are today built on the principles of anonymized data exchange, on the basis of key risks, or in the context of health data. Other models choose to use external public data and bet on the relevance and scalability of the algorithms they develop. Standards are finally on the market, for example, the use of blockchain and APIs.

Do you think we are still in a classic competitive situation between traditional players and new players?

Within Insurtech France, there is no such opposition between the two visions of insurance. Rather, the sector is enriched due to the development of the ecosystem mentioned above. We see players entering the insurance sector from other technology sectors such as mobility, health and the fight against climate change, looking for insurance solutions to be built with players in this sector.

Many insurers specialize in very specific insurance processes and work closely with insurers such as life insurance. The subject of mutual distrust is now obsolete. Start-ups are in a variety of approaches to offer new services in fairly specific niches. Complementarity is exhibited from all perspectives.

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