9th Brokerage Day: APCAL Brokerage Day

On Thursday, October 5th, 2023, the 9th Brokerage Day took place: APCAL Brokerage Day.

For this 9th Brokerage Day, the theme of the round table was particularly relevant: Offering Value for Money: Opportunities in Insurance Distribution Through Increased Customer Satisfaction.

The day commenced with an opening speech by Mrs. Nathalie Schuh, General Director of APCAL, who welcomed the participants with enthusiasm. Mr. Thierry Flamand, President of CAA, then delivered an inaugural address, followed by Marc Lauer.

“Insurers and brokers share numerous common challenges related to regulation, technology, risk management, evolving customer needs, competition, education, and sustainability. Collaboration between our two worlds is essential to address these challenges.”

Marc Lauer, Vice President of ACA

On this occasion, Marc Lauer, Vice President of ACA, emphasizes that the collaboration between the two professional associations results from the complementarity of our professions. Insurance and insurance brokerage are part of a diverse and rich ecosystem! ‘Insurers and brokers share numerous common challenges related to regulation, technology, risk management, evolving customer needs, competition, education, and sustainability. Collaboration between our two worlds is essential to address these challenges,’ he stated.

“Insurers and brokers in Luxembourg share several common challenges related to the insurance industry and the distribution of insurance products.

👉 Challenge 1: Training: ‘It is essential for all of us to accompany the evolutions in insurance. One indispensable lever, both for insurers and brokers, is ESG regulation. It is multidimensional and requires significant efforts in terms of training, information gathering, and adaptation of internal operational processes within our organizations.

👉 Challenge 2: Digitalization: ‘Digitalizing processes and automation are key for all sector players to cope with waves of new regulatory requirements and changing customer needs.’

👉 Challenge 3: Value for Money: ‘By utilizing our expertise and market knowledge, together, we must be able to recommend products and services that offer the best value for money for them.’; ‘Transparency strengthens trust, and trust is essential in our profession.’

Marc Lauer, Vice President of ACA

The session then transitioned into a captivating roundtable discussion moderated by Murielle Wuidar, Vice President of the Life Commission at APCAL and rapporteur on the theme ‘Value For Money.’ Participants delved into the central theme of the day: ‘Offering value for money: opportunities in insurance distribution through increased customer satisfaction.’

This discussion brought together industry experts, including Emmanuel Roque, Director of Business Development at Sogelife, Silvia Bracaloni, Director of Regulatory Affairs at Lombard International Assurance, and Nora Toutaoui, Head of Pricing & Analytics Non-Life at Baloise. Furthermore, the event benefited from the expertise of Frédéric Driant, Head of IFA at BIL, Carlos Montalvo, PwC Partner and Global Insurance Regulatory Leader, and Cédric Cahuzac, Head of P&C Commercial Lines at AXA Luxembourg.

The afternoon concluded with an enlightening European perspective presented by Nic De Maesschalck, Director of BIPAR, providing a panoramic view of trends and challenges across the insurance market in Europe.

This day, rich in discussions and shared experiences, not only explored opportunities in insurance distribution but also strengthened bonds within the insurance community. These engaging exchanges opened new horizons for the future of the sector, emphasizing the importance of innovation and collaboration to meet the growing expectations of customers and to continue evolving in a constantly changing market.