Epargnoo, a French leading marketplace dedicated to savings and financial deals, has unveiled a groundbreaking concept in the life insurance sector: community-driven life insurance. This innovative product allows savers to actively participate in managing their investments by voting on how assets are allocated across various categories, including Euro Funds, Money Markets, Bonds, Private Real Estate, Stocks, and Private Equity. This quarterly voting process empowers users to directly influence the design of their ideal savings product, which is then offered on the Epargnoo platform.
Illuminating insurance innovation: Insights from eight years of Qorus Innovation in Insurance Awards
Epargnoo stands out as the only provider offering a life insurance product based on a community model, positioning the company at the cutting edge of innovation in the savings industry. Looking ahead, Epargnoo plans to expand this community-driven approach to other savings categories, such as retirement savings plans (PER).
A collaborative and transparent approach
Epargnoo's community-driven life insurance departs from traditional models by relying on collective intelligence and active member participation. Every quarter, Epargnoo community members are invited to vote on the best asset allocation strategies. This democratic process ensures that the management of savings is more transparent and responsive to the needs and preferences of the savers themselves.
The platform also fosters a collaborative environment where members can discuss and share the reasoning behind their votes. This discussion is key to the transparency of the process, allowing all members to understand the collective decision-making process. Based on these quarterly votes, asset allocations are adjusted, enabling a dynamic approach to life insurance management that can quickly respond to market changes and investment trends.
For investors who previously subscribed to a life insurance product through Epargnoo, there is an option to update their allocations based on the latest community votes or to stick with their existing strategies.
Key benefits for Epargnoo members
• Enhanced financial literacy: By participating in the asset allocation process, members deepen their understanding of financial markets and various asset classes. The collaborative nature of the platform promotes learning, helping members make more informed investment decisions.
• Access to a unique, dynamic product: Members benefit from a life insurance product that is regularly updated based on the collective wisdom of the community. This reduces individual biases and leverages diverse perspectives, resulting in a more balanced and market-responsive asset allocation.
Epargnoo's co-founder, Thibaud Lecomte, explains that this innovative approach is central to the company’s mission of democratizing investment. “Our community-driven life insurance reflects Epargnoo’s vision of making investment accessible and understandable for everyone. We believe in the power of our community to offer innovative ways to save.”
With a background in law, economics, and finance, and extensive experience in real estate asset management, Thibaud Lecomte co-founded Epargnoo in 2021. His expertise has been crucial in developing this pioneering community-driven savings platform.
