No hidden costs, no drawn-out processes, no confusing terms and conditions ! Our tailor-made insurance products meet your clients’ actual needs. Wakam’s mission is to make insurance clearer and more effective and we go further by integrating this mission into our bylaws!
Because we are convinced that insurers have a key role to play in social and environmental development, we are evolving into a Mission-driven company.
In collaboration with our partners, we are engaged to create insurance products with clearer paths and simpler functionalities. These commitments will be implemented progressively over the period 2021-2023.
Quality of service
We work with our distributors to improve policyholders’ satisfaction by collecting their opinions at each stage of their journey.
Survey policyholder satisfaction on 100% of our partnerships.
Distribution of value
We guarantee a better distribution of value for our policyholders through quality guarantees and capped distributor commission rates.
Limit commissions to 50% and offer guarantees greater than or equal to the standards of the markets in which we operate.
We invest heavily in developing our “parametric” products so that policyholders can benefit from full and instant compensation.
Deploy parametric products throughout our territories and ensure that they represent at least 5% of our sales.
Our contractual clauses are written in simple language to make the guarantees and exclusions of the products easier to read and understand.
Provide simple language documentation for new partnerships in France by 2021, for all our new partnerships in 2022 and for our entire portfolio by the end of 2023.
Transforming Wakam into a company with a positive societal impact is reflective of the best practices used throughout our operation. These commitments will be implemented progressively over the period 2021-2023.
We uphold a socially responsible investment (SRI) policy in our portfolio and adhere to investment programs around new financial opportunities.
Ensure that all new investments and 100% of our liquid assets comply with our SRI policy.
We systematically check that all our products conform with our ethos and commitments before launch.
Validate all our new businesses after checking their compliance with our 3 responsible filters and make these filters even more efficient with an annual review of their relevance and the addition of an extra filter.
Inclusive insurance development
We support those in need via a range of inclusive and solidarity-based products with a zero margin, starting at €0.5 per month.
Ensure that our range of inclusive insurance products represents 5% of our turnover by extending it to other European territories (+1 country per year) and by offering 2 new guarantees per year.
We have created the Wakam for Good endowment fund in support of our solidarity initiatives.
Build an operational structure accessible to others and allowing us to launch insurance programs for the most vulnerable.
Skills sponsorship program
We offer a skills sponsorship program in conjunction with associations and NGOs so that our employees can invest themselves.
Conducting at least one mentoring program every year in collaboration with civil society actors.
To prepare for our registration as a Mission-driven company, we are forming our mission committee. It will consist of 5 members. They are appointed by the executives with the approval of the governing board. Its role: to be an actor of a governance that protects our commitments.
Geneviève Ferone Creuzet
In collaboration with two non-profit organizations, Wakam has created 10 zero-margin products to help those that are often excluded from insurance. Epic, a company that fights against social injustices; and Crésus, a network of associations that supports people in economically fragile situations. Accessible to both employees and non-employees, these inclusive insurance products cover basic needs across three domains: health, home insurance and commuting.
A new name to reflect our digital model and international presence.