OneLife: One-Stop Digitalization with Personalization
Bruno Valersteinas, CEO of OneLife, says his company offers its affluent clientele the security of the Luxembourg legal framework with dynamic, flexible, and personalized investment solutions. He adds that addressing competition and regulation will not detract from OneLife meeting its clients’ expectations of personalization and digitalization and preserving the human touch.
Could you introduce us to the OneLife Group?
OneLife is a Luxembourg-based life insurance company with over 30 years of history. It became part of the French Groupe APICIL, a leader in social protection in France, in 2019. Since then, we’ve seen significant growth. OneLife manages almost €10 billion in assets, with an annual inflows of more than €1 billion. It has a strong presence across eight European markets, including France and Belgium, our historical markets, as well as the Nordic countries and the Iberian Peninsula. Our goal is to offer our clients the best of Luxembourg life insurance, combining the security of the Luxembourg legal framework with dynamic, flexible, and personalized investment solutions.
How are your clients’ needs evolving?
Our clientele is primarily affluent, and their expectations, as well as those of our partners, can be summarized in three key areas: Digitalization for immediacy and transparency in contract and transaction visibility; personalization in investment solutions for wealth management, estate planning, and financial diversification; and a strong focus on the human element to help clients navigate the vagaries of the market. These three aspects are central to our service at OneLife and form the basis of our partnership relationships. We are moving from a digital world of automatable tasks to an end-to-end approach, aiming to provide our clients and partners with a seamless journey. Automation will likely improve onboarding and KYC processes, moving towards a more automated experience.
“The security of the Luxembourg legal framework with dynamic, flexible, and personalized investment solutions”
With your experience in other countries, what risks and opportunities do you see for Luxembourg and a firm like yours?
2023 was challenging for the life insurance sector in Luxembourg. There were overall market downturns, high interest rates, enhanced competition from other savings products, especially banking products, and increasing regulatory pressure. Our strategic plan is designed to adapt to this environment, centered around three core beliefs. Firstly, our ambition is to be a benchmark in customer satisfaction. We will achieve this by offering top-tier service from advice to client relationships and contract management. Our goal, to ensure regulatory compliance in our operations, will need significant adjustments to our management processes and organization. Finally, we will be investing heavily in digital tools for our clients, partners, and team to leverage digital technology to achieve the goal of marrying our service quality ambition with regulatory compliance.
