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Charles Degen and Carlo Cocuzzoli (Cardif Lux Vie): Agility, the Key to the Transformation of the Life Insurance Sector. 

Cardif Lux Vie is currently carrying out a profound transformation of its model based on a unique partnership culture. Interview with Charles Degen, Chief Development & Local Market Officer and Carlo Cocuzzoli, Chief Wealth Management Officer. 


Create value at all levels 

In recent years, the expectations of partners and customers regarding life insurance have changed profoundly. Giving meaning to your investment while demanding flawless quality of service are at the heart of all concerns. “Our clients are indeed looking to invest differently. To illustrate the subject, for example, more and more of them are choosing investments that respect ESG criteria to support efforts related to the fight against global warming. Others have the will to move towards Private Equity investments in order to have a real impact on society. Customers also want to be able to have more fluid and digital journeys. To do this, we must demonstrate great agility by continuously adapting our offer and our tools to these new needs. Luxembourg life insurance is a platform of tailor-made solutions that cannot be found anywhere else. Our mission is to make it more accessible, in particular by forging lasting partnerships with all the players in our ecosystem, by digitizing our journeys and by developing our product and service offers,” explains Charles Degen. 


“We have just deployed a 100% digital interface with electronic signatures and online document upload” 

Digitize your journeys 

Aware of the technological challenge it had to face, Cardif Lux Vie has greatly accelerated its digital transformation over the past two years. The entire value chain has been redesigned. To carry out this major collective project, the company relies, in particular, on several "Digital Squads" directly attached to the wealth management business. The members of these teams work in a “Tribe” that is an agile way adapting to the needs identified and sprints organized to achieve rapid deliveries. “Our priority is to simplify and sustainably streamline the journey of our customers and partners. For this, we have just deployed a 100% digital interface with electronic signatures and uploading of documents online. It will gradually be available for all management activities, in all of our geographies and in all of our market segments. We also ensure the standardization and harmonization of data exchanges with our partners. The Penelop standard that exists on the French market and that we are in the process of deploying to a large number of our partners, makes it possible to significantly reinforce this homogeneity. Working with FinTechs is also essential. The current work for the implementation of APIs in the coming months will allow us to offer innovative, flexible and secure solutions that perfectly meet the needs, organizations and systems of our partners,” explains Carlo Cocuzzoli. 



Be close to the market 

One of Cardif Lux Vie's strengths resides in a culture of unique partnership and this can be seen in all the distribution markets in which the company operates. "We rely on our know-how to develop high-quality partnerships, to provide support, solutions and optimal quality of service," emphasizes Carlo Cocuzzoli. Until now, insurance solutions were partly based on guaranteed rates and a logic of capital available at any time. Our sector is currently facing an environment of lasting low interest rates. Faced with this, the Company's ability to offer complete wealth and estate structuring solutions, with a modern and flexible investment offer, makes all the difference. Cardif Lux Vie has thus expanded its unit-linked offering by carrying out significant work on media such as the Specialized Insurance Fund (country of residence, universe of assets, target customers, etc.) or thematic Collective Internal Funds (CSR, real estate, protected capital, etc.). Finally, we put all our expertise into making asset classes such as ETFs, private equity, real estate or private debt more accessible. "To make these adaptations quickly concrete, our agility translates into a state of mind open to change, a great sense of listening, and cross-functional mobilization to offer a very good time to market," concludes Charles Degen. 

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