Award Applications

CBien, meaning “Your Assets” in French, was founded 3 years ago. It is a Digital Management platform for belongings and helps individuals to create an inventory of the possessions that are the most important to them - it could be anything from a picture or a camera, a watch or a laptop, a bike or a car, an expensive pair of shoes or a designer dress.

CBien can have a strong positive impact on the insurance industry.
We believe that there is a great opportunity for P&C/Home Insurers to improve customer satisfaction and brand image whilst optimising the claims process and interaction with customers.
Today the insurers have a bad image with their customers because of their relationship with them, as:
1. They don’t have regular touchpoints with customers (usually 1 to 3 interactions per year).
2. Claims handling is a negative experience as, it is a lengthy and sometimes bureaucratic process that often does not march customer expectations. Furthermore, it is quite costly for insurers to process.

We consider that we can alleviate these two points through our digital management platform for belongings where multiple contacts can be created in real-time between the consumer and the insurer and added to the platform for each asset owned by the user.

Our solution
Client’s Web/iOS/Android App enables users to register, know the market value and manage all their most important possessions from one central location- anytime and anywhere. As the users will use for these different purposes related to their life moments, it will create opportunities for insurers to interact, provide advice and services – positioning themselves as the ‘Guardian Angel’ of their customers’ possessions and estates for a lifetime.

We provide services to help insurers:
• improve customer loyalty and therefore satisfaction through timely, on-demand and relevant insurance coverage supported by responsive chat-based claim processing
• up-sell/cross-sell new, dedicated and optimised insurance offers, based on a clear understanding of the types of products held within the customer portfolio
• reduce the overall time and cost to settle claims through real-time access to trusted asset, wear and tear and pricing information

We work with insurance companies through a co-branding agreement (by opposition to white labelling), thus having access to the insurer’s customer base while delivering a unique and independent service experience that drives sustainable retention. This independence and transparency are key to gain customer trust – they own their possessions data and rely on our market value information as being independent from insurer’s estimates.

Direct consumer communications are deployed to acquire more users through a Business-to-Consumer model (with an estimated budget spend of € 2-4 million today). With this growing user base, CBien will leverage its Business-to-Business salesforce and capabilities to attract insurance companies.

We think we should win the award because …

• We have an innovative vision and approach of Insurance and sharing economy

With our experience from the past 3 past years, we discovered that (digital) inventory is a strong enabler for the sharing economy and that the sharing economy unlocks the inventory. We have developed technology to break the barrier to inventory and enable users to upload, value, insure, claim, rent, loan, donate and sell the assets they own or purchase at the touch of a button. For example, after purchasing an item, a user can take a picture of the receipt and the app will retrieve all the necessary information and upload to the inventory along with the proof of purchase, simplifying a potential claim later; in a similar way, with the CBien web navigator extension, the user can add an item he/she just purchased directly to his inventory, once again with the proof of purchase.

Our broad range of services and the integration in an ecosystem around one’s belongings is key for CBien’s attractiveness for users, making it more competitive than any isolated asset management solution.

By driving usage, we multiply interactions and therefore opportunities for insurance to be part of their customer life and expectation. Our approach is different because we are convinced that the best way to help insurers is… by not focusing exclusively on insurance, but rather on the customers, their expectations and the possessions they care about and they are willing to protect.

• We have a scalable business model

Our model & solution are scalable - as our current experience in the UK and in Germany demonstrates, the model we built with French insurance companies can be replicated without any major additional cost. Our technology is ready to be deployed in other European countries.

In addition, our model allows us to work at market level as it does not require exclusivity with one company – we have partnered with several insurance companies in France and can do it further, helping other companies them to win clients’ loyalty and do more acquisition.

• We have traction with Insurers, market recognition and a strong team

The product is generating revenue and we are growing now in France, UK and Germany and aim at becoming a European leader.

The insurer platform is being finalised. The company is backed by 6 French Insurers today, that cover over 50% of the home insurance market in France and we have just closed a 2nd round of 8M€, where our historical insurance investors decided to support us for further development and European growth.

Today we already have 5 contracts with Insurance companies, have more than 13 ongoing projects and 22 leads in progress (in France, UK, Germany, Switzerland, Italy). This traction is a good trend to achieve our goal: become the leading digital management platform for belongings in Europe.

To do that, we are an exceptional team of 28 people, 18 of whom are software, R&D and security engineers.

Last, 6 months ago we won the InsurTech trophy of the year in France and recently graduated from Startupbootcamp InsurTech in London as a start-up in residence.