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Assumption Life will accelerate its digital transformation


Alain Thériault

26 February 2018 11:30

Steven Ross

At its general assembly of February 23, Assumption Life has announced that it will step up its digital transformation, emboldened by a year as the insurer of acadian qualifies as the third best in its history. The insurer has the opportunity to name two well known figures to its board of directors, including Steven Ross, who directed, among others, The Capital insurance and wealth management.

During its meeting, the Group Assumption has announced that it is to be positioned to improve its customer experience using technology, and to achieve accelerated growth.

New reality

“The business model in our industry has transformed and we must respond to this new reality. I am convinced that the traditional model of selling products through financial advisors will continue to further evolve and allow to reach the customer otherwise in using the new technologies,” “, emphasised the president and ceo of Assumption Life, André Vincent.

“The heart of our vision. We want to deploy a new business model for our financial consultants so that they can offer a unique customer experience by allowing our customers to choose the way in which it will be served “, he added.

Proposal electronic

The insurer became known in the mid-2000s as one of the first to offer an electronic application allowing the independent consultant to conclude the transaction online.

The company said that it had continued its efforts to establish new strategic partnerships that will develop ” of the distribution platforms for innovative and new ways to reach consumers “. Among other things, the Group Assumption recalled that it had acquired the consulting firm technology Tech Knowledge Solutions for its fifth subsidiary.

A former leader of the council

In an interview with the Journal of insurance, Steven Ross is said to be honored with this appointment. “I see it as an excellent opportunity to leverage my experience in leadership positions in the industry. “Mr. Ross has made it known within the Network, SFL, and most recently as president and chief operating officer of the insurance of persons and financial services, Capital financial group. He is currently a consultant for Peartree Financial Services, a company specializing in planned giving.

The other nomination goes to Adrienne O Pray, president and CEO of the business Council of New Brunswick. The two appointments fill the departure ofAllister Surette , and d’Yves Arseneau, after 11 years of service on the board of directors. At the same time, it was announced that Adrienne O Pray and Steven Ross joined the board as directors.

Growth and liquidity

The result of the year 2017 has reached $ 7.7 million ($M), has revealed the insurer. The financial results for the year 2017 were not available at the time of publication. A look on the previous annual report indicates that the result had been$ 7.3 Million during the fiscal year of 2016. The assets under management of the group reached $ 1.8 billion at the end of the year 2017.

The company has also stressed its commitment under its mutualist values, recalling that it had continued its contribution of 6 % of its net income to community organizations and groups that work in the areas of health and well-being, education, socio-economic sector, as well as arts and culture. “Today more than ever, we are determined to play a significant role to our community, and to continue to be a responsible business, authentic and human,” said Mr. Vincent.

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