Loïc Le Foll and Andrews Goethals (La Mondiale Europartner): the virtues of the 360° partnership
Market volatility and international uncertainties create opportunities for Luxembourg life insurance. An interview with Loïc le Foll (LLF) and Andrews Goethals (AG), respectively Chief Executive Officer and Director of Operations at La Mondiale Europartner.
How is life insurance evolving in the current international context?
LLF: The macroeconomic and geopolitical context remains uncertain, more than two years after the beginning of the health crisis and with the war in Ukraine. In this anxiety-provoking climate, Luxembourg life insurance is a safe haven that is widely praised by European UHNWI clients, particularly French and Italian residents. Thus, despite the wait-and-see attitude of investors due to market volatility, the level of new business we have seen since the beginning of the year is encouraging. I can even say that the current economic situation allows a dynamic company like ours to identify new opportunities to support our clients.
What is the 360° partnership you have set up?
LLF: The long-term nature of business partnerships is in our DNA. It would be simplistic to think that this long-term nature is only in the hands of the front-office teams. These are essential, as are other links in the chain. For LMEP, presenting a partnership means applying a 360° approach involving all of the company's expertise, in particular asset management, digital, compliance, legal and of course operational expertise.
So operational partnership is an essential component of your 360° approach?
AG: Absolutely, it is vital for the fluidity of our production lines and the excellence of the service provided. We have set up systematic exchanges with our key partners, which not only allow us to manage daily flows in an optimal way, but also to work upstream on future workload and downstream on the points of improvement to be considered. Furthermore, no operational or digital process is implemented without the positive impact on the quality of the partner/client service having been validated. This mode of operation allows us to be totally transparent with our partners, as transparency maximizes trust and therefore business relationships.
LLF: The feedback from our partners is extremely positive. I would like to point out that our 360° strategy is perfectly in line with the approach instilled by our Group AG2R La Mondiale, who places client satisfaction at the focus of all our considerations.
What risks and opportunities do you identify for the coming months?
AG: On the operational side, we will obviously continue to maximize the digitalization of our processes. However, we must be clear that digital is not an end in itself, it must allow us to continue on the path of operational excellence and thus optimize the service provided to our partners and their clients.
We wish to be a leading phygital wealth insurance platform in Europe. This notion of phygital is important: innovation associated with people, and therefore with our teams and those of our partners.
LLF: I absolutely agree with Andrews' analysis. I would like to warmly pay tribute to the commitment of the LMEP teams. One of our challenges is to continue to intelligently strengthen our teams through high-quality recruitment. We express our appreciation to our colleagues every day with a modern management approach based on trust and optimal working conditions. Word of mouth is getting around, and I'm happy to see more and more excellent profiles talking to our HR teams about a future together.
AG: We wish to be a leading phygital wealth insurance platform in Europe.