OUR VISION
Our vision is to become the first Property and Casualty (P&C) insurance carrier powered by technology, artificial intelligence and big data. We will deliver the best services to our customers via easy solutions and fully configurable policies. This approach will be revolutionizing risk management and remove unnecessary costs such as brokers and high administration costs.
We will outperform our insurance competitors globally by motivation, effort, knowledge and technologies.
New Era of Insurance
- The Digital Age is reinventing and reshaping businesses, putting the customer in control.
- After a few hundred years of stability and growth, the insurance sector is now facing a new era. Composed mainly of large international companies, often driven by old fashioned corporate structures and heavy labor intensive back offices, they are selling partly outdated products via an old fashioned distribution model. On top of this, their assets, including their IT components created in the last 30 years, are now becoming liabilities and making changes expensive and particularly complex. The old good days of high expense ratio, low customer satisfaction and low customer engagement will be soon coming to an end.
- In the last few years, technology has drastically improved and the digital world entered the day to day life of all consumers. Data and data science is becoming the essence of the future and this is particularly valid for insurance products since they are made of data, statistics and algorithms (as opposed to physical products bought in shops).
- In a soon future, measuring risk will no longer be based on a few data points retrieved by a broker using a subscription template when big data, artificial intelligence and machine learning are offering major possibilities which will make today’s method of measuring risks seems down right medieval in a few years.
Our Slogans and Taglines
- Natively digital & redesign from ground up instead of old legacy systems
- Startup culture instead of corporate structure
- Mobile App & Voice route to market instead of brokers and websites
- Bots & Automation instead labour intensive front & back office
- Artificial Intelligence and Machine Learning instead of actuaries
- Fully configurable & customisable instead of fixed defined policies
- Customer centric (well designed, easy, fun, accessible anytime & anywhere) instead of product centric
- Data centric (big data) instead of questionnaire driven
- Scalable geographically instead of market based
- Efficiency optimisation (e.g. Nº of policies per employee) instead of complacent with the current business model
Creating a .com brand
- In order to scale geographically and to target markets in Western Europe, North America or developed APAC countries, it is important to create a .com brand.
- Our brand represents our customer experience and helps customers to know what to expect and to create brand loyalty. This is particularly important since in a few years, people will not search on the internet, but they will simply ask their personal assistants (such as « Siri » from Apple or « Alexa » from Amazon) to provide them with the best insurance. Without a strong brand and a vocal solution, all smaller companies will struggle to survive.
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Our brand is at the foundation of our culture and DNA. It provides all our teams and partners with the direction to follow and motivates all our colleagues to deliver the extra mile.
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Current domain names owned already: pjf.fr / pje.fr / pjp.fr / srk.fr
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Possible domain name: pjf.com (« PJ » from Protection Juridique) and most pjf domain names in many countries are available or purchasable
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Possible domain name: concorde.com –> concord in English means « agreement and peace between countries and people » as well as harmony
Data Centric Approach
- Insurance is a data product and it will be enhanced with big data (which is not the case for physical products) which is going to deeply transform our offering and proposed products
- Insurance products are statistics and algorithms, machine learning will transform the product and make our current actuaries obsolete by being much more accurate and precise.
- We are leveraging all our data. for example, our Mobile App collects much bigger datasets (was it an impulsive buy or not, did you play with configurations or not, if yes, which ones, did you come back multiple times before purchasing, what time did you buy the product, was it at 2:00 AM or 2:00 PM, which method did you use to pay, etc) whereas most current insurances are collecting around 20 data points filled by a broker during an appointment with a client.
- All these data will allow us to be much more accurate and thus much better at predicting and measuring risks. This will also allow us to offer price competitive packages for the clients that we want.
Scalable Geographically
- Our mobile app can be easily deployed within hours in a new country as soon as the legal insurance carrier have been validated by the local authorities.
- Our mobile app has been designed to work in any countries and in any language, making its deployment easy and rapid.
- The service offered is the same no matter in which geographical region or country you are based in.
Scalable Technically
- Our solutions are using scalable cloud solutions that can be easily scaled up or down, at any time in order to suit the number of existing clients and policies.
- Our cloud solutions are secure, flexible, scalable, sustainable, seamless, personalized and predictable and improving collaboration. They are always up to date using automatic software updates, they are fully mobile and offering access on any smartphones or devices.
- They are cost effective and based on pay per use models, making the cost predictable.
Why Property insurance ?
- Property insurance is a broad term for a series of policies that provide either property protection coverage or liability coverage for property owners or renters. Property insurance provides financial reimbursement to the owner or renter of a structure and its contents in case there is damage or theft; and to a person other than the owner or renter if that person is injured on the property.
- Property insurance is nowadays quite standardised in all modern countries, which is allowing us to build a single mobile app fully standardized while offering many customisable options to our end users. Thanks to the above, it’s allowing us as well to quickly scale up geographically and expand our brand in multiple countries.