In an exchange on Radio Patrimoine, Virgile Delporte, co-founder of Testamento, took the microphone to raise awareness among listeners about a key issue in life insurance : the management of beneficiary clauses. As a guest on the show “Cœur de Patrimoine,” hosted by Cédric Decoeur, he highlighted the critical importance of this topic, often overlooked but essential for ensuring a smooth and compliant wealth transfer aligned with policyholders’ wishes.
Strengthened regulatory challenges for better protection of policyholders
The beneficiary clause, a central element of life insurance contracts, is now at the forefront of regulatory concerns. Virgile Delporte emphasized the impact of major laws such as the Eckert Law and the Pacte Law, which have structured the management of beneficiary clauses in recent years.
He also shed light on recent recommandations from the ACPR (French Prudential Supervision and Resolution Authority), which, as of November 21, 2024, mandate:
- Regular verification of beneficiary clauses : every two years for distributors and every four years for insurers.
- Detailed information collection and enhanced traceability to ensure that designated beneficiaries remain in line with policyholders’ wishes.
While these obligations may seem demanding, they aim to improve customer support and prevent disputes or errors in fund transfers.
Turning compliance into opportunity through digitalization
Throughout the show, Virgile Delporte introduced Beneficiary, the SaaS solution developed by Testamento to meet these new requirements while simplifying the management of beneficiary clauses.
This innovative platform offers:
- A seamless experience for policyholders, allowing them to verify or update their clauses online with just a few clicks.
- Process automation, reducing risks of non-compliance and human error.
- Personalized support, turning a regulatory obligation into an opportunity to strengthen customer relationships and generate new sales for insurers.
“This is a real opportunity for the insurance industry to demonstrate their added value and commitment to their clients.” noted Virgile Delporte.
An exclusive survey highlighting client expectations and areas for improvement
To support his insights, Testamento relied on the findings of its exclusive survey, “The French and the Management of Beneficiary Clauses” conducted in September 2024 with Harris Interactive. The study, based on a sample of French participants, revealed the low level of awareness among the population regarding beneficiary clauses and their growing demand for simple, transparent, and accessible online solutions, such as those offered by Testamento with Beneficiary.
Key statistics from the survey include :
- 73% of French people over 50 have never updated their beneficiary clause.
- Nearly 30% want more autonomy, while a majority still prefer human support.
A must-watch episode
Virgile Delporte warmly thanked Radio Patrimoine and host Cédric Decoeur for the opportunity to raise awareness on this crucial topic.
“It was a real pleasure to share our expertise on a subject that is particularly close to my heart. Together, we can modernize and simplify wealth management to meet the expectations of the French people. Thank you for this inspiring exchange and your warm welcome!” he concluded.
Catch this episode of “Cœur de Patrimoine” now, available in video or podcast format. It’s a unique opportunity to better understand today’s wealth management challenges and the solutions of tomorrow.
