Digital Insurance Agenda

Minalea: the first robo-advisor for insurance sales

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Nov 9, 2017

French startup Minalea developed the first robo-advisor for P&C insurance sales forces, the Smart Sales Assistant. The Smart Sales Assistant scans in depth the products’ content and services from the market and generates the perfect sales pitch. The solution is built for distribution networks like agencies and call centers but can also be given to customers online through the innovative chatbot Fred. The Smart Sales Assistant allows sales forces to bring real value and increase conversion rates from quotes to insurance policies. It produces a lot of data that is available through a web interface. The Minalea solution is mixing the use of complex algorithms, AI and advanced analytics.

Minalea is currently active in 2 countries, France and Belgium for the P&C market: car, home, liability and loan insurances. Over 30,000 users work daily with the “Smart Sales Assistant”. Customers are banks, mutual insurances and private insurers.  The startup plans to move toward one new European market early 2018.

No longer focus on the price but intelligent data
Minaleas Smart Sales Assistant is a solution to help insurers instantly to make the difference and better advise their customers by switching the focus away from price. The Smart Sales Assistant deeply analyses all the insurance offers from a product range in a given market, and is able to generate the most adapted sales pitch taking in account the customer profile and its current insurance. The use of the Smart Sales Assistant in distributions networks provides confidence to sales people. It gives them instantly useful insights to explain their products and value their market differences. It gives them the opportunity to bring the focus back on covers, security and protection and to keep away from only the price.

The Sales Assistant integrates a powerful search engine, which allows to respond instantly to a question from a customer about his current offer or the one you offer him. For outsourced call centers in particular, this feature is very relevant, ensuring a good level of quality of the answers provided. Resulting in: 

  • increase in conversion rates from prospects to customers, up to 30%

  • improve retention rates and limit churn by over 30%

  • limiting of discounts as the covers and added value of the insurance offer are better explained to the final customer

  • No IT is required, deployment in a network is easy and fast

AirMarketViewer
Minalea also has the Air Market Viewer.  This is an advanced analytics solution able to position any insurance offer in the market and simulate potential market positioning of a future offer before a national launch. Minalea also offers solutions for analyzing the commercial performance of its insurance customers and solutions for studying and simulating the positioning of insurance products in the market.
Thanks to Minalea, the content of the insurance products is determined on objective, quantifiable criteria, and the evolutions can be clearly presented.


Why we selected Minaela for DIA Munich
The Smart Sales Assistant form Minaela makes insurance simpler and more transparent.
Their solution and use of complex algorithms, AI, advanced analytics whether it’s for the data collection or for the outcome created for the final users, is really improving the quality of the sales force and the knowledge of the customer. And the AirMarketViewer is an advanced solution to check the insurance offer before the launch.

Who is Minaela?
Founded in 2015 by Stephane Favaretto and Guy Leroy. The initial funding was about 180 K€. The company is almost profitable 2 years after its launch and is owned by the 2 founders. Minalea started to expand in 2017 in one country out of France and is planning to test its solutions in other European countries in 2018.


Guy Leroy, co-founder & CEO Mialea

Website: www.minalea.com

Presenter 1: Guy Leroy
Presenter 2: Peter de Brito Gossmann

Contact info: Stephane Favaretto
Email: [email protected]
Telephone: +33607042994

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