Pieter Coopmans (Gatsby & White) : Gradually Transforming to a Digital Intermediation Platform
As an independent, pan-European life insurance distribution business, Gatsby & White’s Chief Executive Officer, Pieter Coopmans, says the firm aims to enhance its client and business partner experience by migrating to a digital intermediation platform. However, he highlights that skilled staff will continue to play an equally important role in combination with new technology, driving the service and efficiency of its value chain.
Can you describe Gatsby & White in a few words?
Gatsby & White is an independent and privately-owned life insurance distributor. Over the past ten years, we have become the leading pan-European insurance distribution platform with agent and broker activities across the continent and beyond. We have become the trusted advisor to HNWI clients of the leading private banks, asset managers, and family offices. Our robust growth over the past decade has been possible thanks to hiring the most highly skilled experts, supporting our trusted advisors in more than twelve jurisdictions. We have invested heavily in growing our pan-European presence to ensure we have a B2B4C structure with a level of governance that meets the highest standards of compliance.
“We envisage a real hybrid model combining the best of both the human and the technological worlds”
How do clients respond to the services you offer?
Of course, all clients are unique! That said, our business partners’ high net worth clients usually have complex family and business situations and require exceptional customer service as well as personalized attention. All our advisors have a deep understanding of the high net worth insurance market and their respective jurisdictions. We support our business partners in identifying the clients’ specific risks and wealth planning needs which are then translated in insurance solutions or specilized covers. This obviously requires knowledge of insurance but also of wealth management, asset protection and risk management. The feedback from clients in general is very positive, as they are less familiar with the insurance offering and are positively surprised by the planning, protection and flexibility elements an insurance solution brings to the table.
How do you see your business model emerging going forward?
The next evolution of our development is further automation and digitalization of our business partners’ and clients’ journeys. This phase will make life insurance distribution easier and enhance the partner and client experience. Technology and the development of a digital platform are key. We strongly believe in the development of this technological component. That said, Gatsby & White’s success has been built on the quality of our staff - hiring the best people – which means we also see our people as the essential foundation for the achievement of our future ambitions. We envisage a real hybrid model combining the best of both the human and the technological worlds.
How do you see the market for insurance product distribution developing?
The market is showing increased demand for third-party distribution of insurance solutions. Banks, asset managers, and insurance companies are facing an increasingly heavily regulated business environment. As a result, they are actively outsourcing insurance intermediation to insurance intermediation specialists such as Gatsby & White. It is our ability to offer a one-stop-shop for our business partners and clients throughout Europe; our highly skilled team of advisors and our long-standing relationship with business partners that allow us to continue to stand out in the insurance distribution space.