May 22, 2019 11:30
As long as his company does not present a return on shareholders ‘ equity of 15 %, Charles Brindamour is said dissatisfied with the results ofIntact financial Corporation.
At the end of the fourth quarter of 2018, Intact had not reached this figure. Charles Brindamour was dissatisfied.
This scenario is repeated at the end of the first quarter of 2019. The insurer has submitted a return on shareholders ‘ equity of 12.8 %.
“We are not satisfied of this result. Not satisfied “, he hammered to the financial analysts participating in a conference call on 8 may. The Journal of insurance has consulted the official transcript.
Disaster or not, Mr. Brindamour says that his company has what it takes to submit each quarter a return of shareholders ‘ equity in excess of the bar of 15 %. This objective is even more ambitious than the performance of the shareholders ‘ equity of the industry as a whole is below 3 %.
That’s not a problem. Even if the weather is not on the side of the insurers, Mr. Brindamour points out that the results of his company are much more stable than those of the other players in the industry.
Three vectors of performance
To outperform the industry, Intact leverages its segmentation of the data, its management of claims and investments in the distribution sector, said Mr. Brindamour to analysts.
With respect to the segmentation of the data, Intact is investing heavily in artificial intelligence to generate new variables. With regard to the management of the claims, Intact uses of digital works and to internalize more of its processes. Then come its investments in distribution, that Mr. Brindamour qualifies as ” considerably more stable than its insurance business on individuals “.