Brokerage: SPVie Assurances sees double!

Brokerage: SPVie Assurances sees double!

Jerely Sebag, Renaud Adde, Matthieu Bébéar and Cédric Pironneau (SPVie Assurances)

INFOGRAPHICS – At the end of a growing 2021 financial year, SPVie Assurances is embarking on a new two-year growth plan. With the establishment of two DGDs, the wholesaler wants to double the number of its brokers and double its turnover by 2024.

Building on a successful 2021 financial year with turnover up 11% to 88 million euros, SPVie Assurances now wants to change scale. To do this, the wholesaler saw things twice.

To support its new two-year growth plan (2022-2024), the broker first reviewed its governance with the establishment of a dual general management (Matthieu Bébéar and Renaud Adde) intended to strengthen its distribution networks. and its diversification strategy. “Cédric Pironneau and I have taken a little operational step back but I want to be clear, we are not selling our shares or the group”, says Jeremy Sebag, President of SPVie Assurances. And the latter to add, “Our goal now is to structure the group on a development model similar to that of an insurer”.

Dual purpose

SPVie also saw three times double on its operational objectives. At the end of his plan, the broker first wants to reach 1,000 employees (against 550 today) and go from 1,500 active brokers to 3,000 partner intermediaries. “It’s a reasonable objective given our firepower”explains on this point Matthieu Bébéar, DGD in charge of the wholesale and direct sales department.
“We also want to double our turnover to 160M euros, either organically or through external growth. We are now buying »continues Jeremy Sebag.

“We want to become the preferred wholesaler of brokers”, says Renaud Adde, DGD in charge of the group’s mass-market sales department. To do this, the broker has embarked on a vast digital project with the aim of creating its own Open API platform. With investments of “several million euros over 2 to 3 years”SPVie Assurances will also develop its own lead generation department to promote the acquisition of new customers.

Focus on the borrower

Regarding its product range, the wholesaler has also set itself a roadmap to promote growth and support the change in the product mix of its brokers.

“In ADP, which is our core business today, we want to complete as many ranges as possible for our customers. We are also going to embark on borrower insurance, as the Lemoine law now offers strong opportunities on the market.”explains Cédric Pironneau, the group’s general manager.
“In a few months we will overturn the table on this market”warns Jeremy Sebag, who plans to support his objectives by acquiring players already established in this segment.

In property and casualty (today 10% of the group’s turnover), SPVie Assurances also wishes to develop there in construction, civil liability for professionals or multi-risk buildings. “We do not aim to go into the risks of the individual such as the car or the HRM, modulo the external growth opportunities that would arise. “says Matthieu Bébéar.

The wholesaler has also strengthened its teams to develop affinity offers and dedicated to expatriates (mainly in Africa and the Middle East, individually and in small groups to start). “The idea is not to rotate our partner insurers, but to work with them over the long term to find the best connections for our offers”, continues Matthieu Bébéar. The broker also specifies that it has changed its commissioning methods with its partner risk carriers, abandoning prepaid remuneration for linear remuneration.

Engaged in a major roadshow for its brokers and prospects, SPVie Assurances is thinking above all about the future of its funding round. “We will not reach 160M euros in turnover by relying solely on organic growth. We will surely need to refinance and private debt is fine with us until then”concludes Jeremy Sebag.

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