Seyna chosen by SPVIE Assurances to launch its new individual health product ranges
Press Release | Seyna announces that it has been chosen by SPVIE Assurances to innovate its individual health range for individuals and self-employed workers.
Paris, September 10th 2024,
Seyna announces that it has been chosen by SPVIE Assurances to innovate its individual health range for individuals and self-employed workers. SPVIE Assurances chose Seyna for its ability to create customized products, its access to diversified risk portage and its rapid launches. Within 3 months, Seyna had co-constructed the customized offers, placed the risk with the most suitable insurers, and is now monitoring the portfolios on behalf of all partner carriers.
An increasingly complex healthcare market
The health insurance market is under pressure. The explosion in healthcare costs and claims experience is making risk placement increasingly difficult. After rising by 9.9% in 2021, healthcare expenditure is set to rise by a further 2.1% in 2022, to €4,600 per inhabitant*1.
The number of historical policyholders is falling drastically. Between 2012 and 2022, the number of insurance organizations approved by the ACPR fell by 34.7%, from 1,018 to 664.
At the same time, the sector is suffering from a fall in purchasing power as a result of high inflation. As a result, the rising cost of health insurance has left a whole swathe of the population without access to adequate individual healthcare solutions.
Optimizing performance through technology
Brokers in the healthcare sector must innovate to offer policyholders greater flexibility in their choice of cover, and invest in technology to optimize the efficiency of their operations.
To this end, SPVIE Assurances is making strong choices. As a reminder, as the 5th largest wholesale broker thanks to major technological investments, SPVIE Assurances declares sales of €105 million in 2023*2 , up 17% on the previous year.
To keep up the momentum, SPVIE Assurances has decided to launch a new range of health insurance products for individuals and self-employed workers in September 2024. SPVIE Assurances was looking for a partner capable of building programs with a wide range of coverages within a short timeframe, and adaptable to all distribution channels (distance selling, local networks).
The company therefore turned to Seyna, whose technology makes it possible to bring tailor-made offers to market quickly and increase the profitability of programs over the long term.
A diversified risk investment for SPVIE Assurances, operated by Seyna
By co-constructing with SPVIE Assurances, Seyna has been able to create offers and join forces with several insurers who also carry the risk. These partner carriers call on Seyna to continue innovating on products, manage flows with SPVIE Assurances on a daily basis and ensure profitability.
From creation to monitoring, including re-tarification, everything runs through Seyna's technology. It is open to brokers and risk holders, who have real-time access to data. Seyna also absorbs all the operational workload associated with product launches and reporting to partner insurers, allowing SPVIE Assurances to focus on what it does best: distribution.
The result: 4 new modular offers made available to the 2,400 local brokers in the SPVIE Assurances distribution network. The risk is placed in a diversified manner, carried by insurers in partnership with Seyna. The products are continuously monitored and adjusted using Seyna technology.
The beginning of a long-term partnership
“SPVIE had a very precise vision of what their customers wanted. On this basis, we co-constructed their tailor-made products. Various insurers and reinsurers partner with Seyna to carry the risk. This provides SPVIE with investment diversity and long-term capital. Seyna operates all of these programs on a day-to-day basis, from product design to portfolio performance, to make life easier for SPVIE.”
says Stephen Leguillon, CEO of Seyna.
SPVIE Assurances and Seyna share a strong technological ambition and a desire to accelerate developments in the healthcare sector. This launch is just the first building block in a long-term partnership.
“This partnership is the concrete expression of the combined know-how of our two companies. We want to offer customized solutions that truly meet the needs of brokers and their customers, while offering greater agility, and that's what Seyna enables us to provide with our new healthcare offerings.”
explains Jérémy Sebag, Co-founder of the SPVIE Assurances group.
*1 Source : Drees 2023 report
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About Seyna
By offering a platform combining tailor-made insurance products and SaaS (Software as a Service) technology, Seyna enables brokers to focus on what's most important: their customers.
Brokers operating on Seyna can create unique insurance experiences, from the insurance product, to underwriting, to policy management. The platform automates administrative and compliance tasks, freeing up time to focus on customers. What's more, Seyna is an open infrastructure that enables brokers to connect their own ecosystem.
Since its launch in 2019, when Seyna obtained its ACPR approval as an insurer, the platform has convinced over 100 brokers, including Verspieren, WTW, Meetch, Verlingue, Dalma. They use Seyna to protect nearly two million policyholders. Thanks to a 47 million euro investment from GFC, WhiteStar Capital and Elaia, Seyna has global ambitions to improve the insurance industry by modernizing the design, distribution and management of insurance programs.
About SPVIE Assurances
Created in 2010, SPVIE Assurances is a multi-dimensional brokerage group combining expertise, new technologies, proximity and entrepreneurial spirit.
SPVIE Assurances is a company that is open to its audiences (individuals, businesses and professionals), to its offering (personal and property & casualty insurance), to its businesses and to the world around it through its social and societal commitment.
From product design to distribution, from enrolment to claims management, the SPVIE Assurances group deploys all its capabilities and maintains a presence in all sectors, with a fully dematerialized and automated value chain. As a modern company, the SPVIE Assurances Group has been doubling its sales every year for the past 3 years, placing it 4th among French wholesale brokers by 2020.
