Wakam Inside: Denis Thaeder

This month it is Denis Thaeder who agreed to answer our questions. It has been almost 10 years since Denis joined Wakam. Currently, Chief Mission Officer, Denis was previously CFO and CRO. He tells us with passion and humility about his key role to make Wakam a mission-driven company.

Hello, could you introduce yourself?

Hello! My name is Denis Thaeder. I’ve been working at Wakam for almost 9 years now. I held several positions as Chief Financial Officer and then Chief Revenue Officer for 6 years.

For a year now, I am Chief Mission Officer. 

You are ” Chief Mission Officer ” but what does it mean exactly? 

First of all, I am in charge of piloting the work we are carrying out to acquire the status of a mission-driven company. We should acquire it at the beginning of 2021. Within the company, we will need to ensure that we respect and implement all the measures we have defined in our three-year strategic plan. This integration of our commitments in the strategic plan is key to the success of the project.

This can only be done with the support of the Board of Directors and Olivier Jaillon.

To help us in this task and challenge our ambitions, we have set up a Mission Committee composed of 5 people.

We will also have an external, independent entity that will be responsible for auditing us to ensure that we are meeting the commitments we have made.

Alone, I can’t do anything!

Then, my role is to monitor the operational management of our commitments. Today, we have defined nine of them which are piloted by several Wakamees internally. We need to keep the implementation of these commitments on a three-year roadmap. The idea is to commit all the Wakamees to the project over the long term. Alone I can’t do anything! I need all the Wakamees to implement all these goals.

Finally, I am in charge of the “commercial” part of the inclusive insurance product. This was the foundation stone that we had laid before we started the work to become a mission-driven company. We wanted to address the most fragile populations in a concrete and very operational way. As an insurer, we have a key role to play in societal progress and the protection of populations. This is why we have co-created (with the teams of our partners Crésus and Epic) a range of products aimed more specifically at people who are in economic difficulty. One of our commitments is that this offer represents a significant percentage of our revenues.

The idea is to approach companies or organizations to accompany us in the deployment of this product in order to have the maximum impact. Our interest is not financial because we don’t make money on it. It is really a strong conviction of the company that is expressed in this project.

I’m going to be provocative, but isn’t that just a communication argument?

I think there are several levels of involvement in becoming a mission-driven company. I think it’s a shame that companies stop halfway, that is, when they only define a purpose. We want to save the world, but to simply stop at the inscription of the raison d’être in the statutes is indeed a communication argument. I think it’s a shame to gather employees around a common vision and then not put it into practice.

“Mission-driven company” means that you go much further in terms of commitments. You will define precise objectives with levels to be reached. In addition, you will change the company’s statutes by integrating these commitments. You will be controlled both internally by a Committee that depends on the Board of Directors and externally by a third-party organization. And that’s not “mission washing.” It doesn’t make sense to put so many commitments in such a deep and impactful way in a company in order not to do things.

Why did join you Wakam?

A friend introduced me to Olivier [Jaillon] at the time. I found the project very interesting because it was different from what I was doing. They had many ambitions and ideas. I can tell you that the company I knew 9 years ago has nothing to do with today’s Wakam (laughs).

To get to this point, we lived many different and exciting adventures, but not always easy!

The company has changed for the better?

Of course! In a very positive and extraordinary way. We were a broker, a software company, an insurer and so on. At the time, the insurance company was relatively small and had relatively little geographic and product diversity.Under Olivier’s leadership, we have collectively transformed this insurance company, step by step.

Today, we are a company that has acquired an important influence. I think that the innovation, the technology platform, and all the Wakamees give us visibility and recognition that we would never have imagined 9 years ago.

What do you think about the insurance sector?

The relationship we have with our distributors has experienced profound mutations. The nature of the distributors we work with has changed tremendously.

Nine years ago, we worked mainly with French wholesale brokers who were our partner base. Today the panel of our distributors is much larger. We always work with these partners (such as FMA or Solly Azar) but also with insurtechs (Luko, Qover or Zego) or with retailers or direct distributors (Cdiscount, Yamaha or Easy Renter…)

With our vision of embedded insurance, we try to anticipate the needs of tomorrow’s consumers. I find it rather interesting and exciting to say that we are at the cutting-edge from a distribution, product, and techno point of view. We are anticipating what tomorrow’s insurance and consumer needs will be.

If you had to explain your job to a three-year-old?

Continue to earn money while being responsible!

What does a typical week for you at Wakam look like?

We have many moments of collective exchanges. I think it’s very important. We are driven by moments of sharing with the entire company during which all Wakamees have an active role to play. Business topics are not reserved for one team. The whole company is concerned. As a former Chief Revenue Officer, I always help the business teams on certain deals. And then, I have moments dedicated to my role and my roadmap.

What are you working on right now?

I have several topics that I am working on.

First of all, I am working on setting up our Mission Committee and defining the people who will be part of it:

• A Wakamee,
• Jean-Louis Khiel, President of Crésus fundation,
• Geneviève Ferone-Creuzet, who is well known in the CSR world.
• Paola Fabiani, founder of Wisecom, a company with an important social commitment,
• And a fifth person who will be the representative of the Board of Directors.

I am also working on the creation of our “Wakam for Good” endowment fund to support our solidarity initiatives.

We still have to work on some use cases, but we are making good progress! I will be able to tell you more in the coming months.

This is one of the nine commitments we must carry out over the next three years.

And finally, I am involved in the commercial development and “evangelization” of our inclusive insurance offer for large companies. I don’t believe in using traditional sales channels. I believe that it is above all through human contact. I try as much as possible to take part in conferences or round tables to talk about our offer and more generally about our project to become a mission-driven company. I wish that our approaches can be valued outside of the usual commercial framework. But within a framework that has and gives meaning.

Something you’re super proud of that you did at Wakam?

These years have been so rich that it is quite difficult to extract a single one. But if I had to pick just one, it would be the level to which the company has been brought in terms of developments. But it is a collective success!
And in February 2021, I will be extremely proud to be able to announce that we have become a mission-driven company!

If you could add one thing to the offices?

Nothing! It’s very pleasant to work here, I feel very good here!

If you had to describe the culture at Wakam, what would you say?

It’s an adventure…

If you could change jobs, what would you be? 

I have changed jobs several times in the last few years, which is great; my new job (as Chief Mission Officer) is still new at the moment. Unlike a lot of people who deal with these mission topics, I’m not a CSR “professional” so I still have a lot to learn and discover.

If you could switch places with someone for a day?

With you!

Me??!!

I would love to be a social media professional!

If you had any advice for being super-efficient in the office?

I think during the night! (Laughs)

As we are a fast-moving company, I take the time to sediment a certain number of ideas to sometimes avoid back and forth. I think it’s important to sediment your ideas so that they take on substance and therefore strength and relevance.

What is the first thing you do when you arrive at the office?

Grab a coffee!

What is your favorite restaurant near the office?

“Le Comptoir des Frangins” ! I recommend the Caesar’ salad which is delicious!

The final word?

I am delighted to continue this adventure to carry out this “mission-driven company” project which does not stop just in obtaining this quality.

At the end of three years, (the duration of our strategic plan), we will have to take stock of the objectives we have set for ourselves and learn the right lessons to set new, even more, engaging objectives!

With 2 key words: transparency and impact.