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Wakam
toward a Mission-driven company!

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.

1

Inclusive product

A zero-margin inclusive insurance offer for the most vulnerable, in collaboration with our partners Epic and Crésus.
June 2019
2

Best practices

Implementation of best practices on our profit and zero-margin activities to address the lack of clarity and complexity in insurance products.
September 2019
3

Bylaws amendments

Structuring our new move, we have included our corporate purpose and commitments in the company bylaws and created a governance committee.
December 2020

Customer journey commitments

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.

2023 Objective
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.

2023 Objective
Limit commissions to 50% and offer guarantees greater than or equal to the standards of the markets in which we operate.

Automated compensation

We invest heavily in developing our “parametric” products so that policyholders can benefit from full and instant compensation.

2023 Objective
Deploy parametric products throughout our territories and ensure that they represent at least 5% of our sales.

Clear language

Our contractual clauses are written in simple language to make the guarantees and exclusions of the products easier to read and understand.

2023 Objective
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.

Good behavior commitments

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.

SRI policy

We uphold a socially responsible investment (SRI) policy in our portfolio and adhere to investment programs around new financial opportunities.

2023 Objective
Ensure that all new investments and 100% of our liquid assets comply with our SRI policy.

 

Partnership selection

We systematically check that all our products conform with our ethos and commitments before launch.

2023 Objective
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.

2023 Objective
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.

Endowment fund

We have created the Wakam for Good endowment fund in support of our solidarity initiatives.

2023 Objective
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.

2023 Objective
Conducting at least one mentoring program every year in collaboration with civil society actors.

Our mission committee
 
constitution in process 

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

  • Co-founder and Partner of Prophil, a strategy consulting firm – research and implementation of new business models for the common good
  • Co-founder and President of Casabee – consulting firm in urban and territorial ecology
  • Vice-President of the Nicolas Hulot Foundation

Discover our range of inclusive insurance

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.

Discover

La Parisienne Assurances is now Wakam!

A new name to reflect our digital model and international presence.