Who are these “fintech” who want to shake up life insurance?

The fintechs (technology companies in the world of finance) could not miss the gigantic life insurance market. They are now multiplying to offer an original “user experience” thanks to well-thought-out, educational and sometimes fun applications, but also human services and modern and easy-to-use financial offers. Above all, the costs are severely reduced, since it is the clients who carry out a large number of transactions themselves without having to mobilize – and pay – advisers or intermediaries.

Until recently, to have modern life insurance, you had to turn to online brokers, who offer in a few clicks the possibility of knowing everything about their contract, establishing your risk profile and have an investment suggestion which corresponds to it, then which allow you to modify your choices, always in a few clicks, and with costs to the floor. Whether they are called Altaprofits, Mon Financier, Placement Direct, in the world of the self-employed, or Boursorama, Fortuneo or ING for the more institutional ones, they have revolutionized the life insurance of dad and grandpa by offering , in addition, almost endless investment possibilities.

“The peculiarity of fintech is to offer completely dematerialized services and courses”, affirms Karl Toussaint du Wast, who directs Net investment.

In recent years, a new generation of operators has come to end up shaking up “the preferred placement of the French”. Among them, Yomoni, which is celebrating its 6 years and 500 million euros in assets, which has distinguished itself by offering managed management (with ten different risk levels to adapt to all situations) on “trackers”, funds that track changes in stock market indices.

“Managed management has the advantage of lightening the mental burden of the saver-investor, because it is not he who makes the investment and arbitrage decisions”, believes Sébastien d’Ornano, founding president of Yomoni, who defends himself from “Cut back on services to reduce costs”. “We are in a logic of fair price, not low cost, he adds, because, contrary to popular belief, we support our customers throughout their operations, and they can also have a human contact at any time. “

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If there is indeed a robo-advisor (virtual advisor full of algorithms) behind the fintech, it does not replace the human: it allows to automate tasks, in particular administrative, and thus to save time. and fintech money, savings that benefit the customer through lower costs than in traditional products. “The particularity of fintech is to offer completely dematerialized services and courses”, enlightens Karl Toussaint du Wast, who heads Net Investing.

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