Six months after launching dedicated offerings in life and health insurance, the neo-insurer Seyna - present for the first time at Reavie in the Start-up village - takes stock of this new activity. Etienne Longeaud, Health and Life Expansion Manager at Seyna, particularly welcomes the initial partnerships secured with several brokers.
Why did you want to launch into the personal insurance segment this year?
We are a relatively young neo-insurer, just three years old. Until now, we focused on five insurance business verticals (breakdown/theft/mechanical failure guarantees, pet health, mechanical breakdown, unpaid rent, and ticket/travel cancellation). The goal was initially to concentrate on these affinity segments to strengthen the technology of our insurance platform. However, we kept an eye on the market where demand was the strongest: Health/Insurance. Beyond representing an interesting mass market, it was a segment with very high frequency and replacement, where differentiation no longer occurs on prices but rather on the user journey. This aligns well with our value proposition, both for end customers and the teams responsible for the program internally.
What is your vision of the health and life insurance market in France?
The trend in health and life insurance is to offer more and more services around the insurance product and let the broker choose the services they need. Because they are the ones who truly know their clients, who accompany them daily. Our mission is to provide them with all the tools to unleash their creativity and expertise. Configure and build custom subscription journeys in 1 week, automate 80% of their AML-CTF processes, design claims management journeys, etc. We explore all the levers that give brokers control over the customer experience and their schedules, without a line of code.
Who are your health and life insurance offerings intended for?
Compared to many players, our clients are and will remain the brokers. We co-create insurance products with them and provide them with a technological infrastructure with which they optimize their journeys and operations. All our offers are white-label. We don't have off-the-shelf products. In terms of clients, when we launched in this segment last April, we initially focused on individual health for small and medium-sized enterprises (SMEs). Then, from June onwards, we ventured into small custom solutions (from 50 to 500 employees) and into life insurance.
What are your initial results in personal insurance?
In terms of inquiries, we have already worked on 50 to 100 cases. In six months, and while waiting for ACPR approvals, we have notably established partnerships with diverse players such as April and Benefiz. As a result, after generating €3 million in premiums in 2020 across all segments and reaching €18 million last year, we will achieve €45 million in premiums in 2022, with health already accounting for 10% of the volumes in terms of contributions.