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Rémi Berg, Virginie Courteil, Johanna Lopera Magnani (La Mondiale Europartner) : Legal Experts to better support Business Growth and Innovation
Rémi Berg, head of the legal department of La Mondiale Europartner assesses how the legal simplification process begun by his department playing an important part in the company’s transformation in the marketplace over the past three years without compromising the level of security required in the insurance business.
How has LMEP transformed over the past three years, especially in the field of cross-border life insurance services, and how has this affected the Legal Department?
La Mondiale Europartner was established in Luxembourg in 1987 but it has changed considerably over the past three years in order to adapt to major regulatory and technological changes. The company specializes in the development of robust and innovative life insurance solutions for high-net-worth individuals and has become a key player in the Luxembourg life insurance market. While its increasingly prominent role has been facilitated by the European Union treaty giving freedom to provide services, it also was boosted by the development of the Ag2r La Mondiale group's wealth insurance unit. Life insurance must engage almost all aspects of law and LMEP's Legal Department has played a key role in keeping pace with the company's transformation.
“LMEP's Legal Department has played a key role in keeping pace with the company's transformation”
How does LMEP's Legal Department contribute to the company's success in this market, and what areas of law does it cover?
It is a source of pride in LMEP's legal department that its small but highly motivated team with its wide range of skills contributed to the success of LMEP in the life insurance market under the freedom to provide services. The Legal Department has a broad scope in addressing all legal issues related to life insurance but also to other areas of law, including company, contract, employment, civil laws, new technologies, and personal data protection. Two years ago, the Legal Department embarked on simplification work aimed at improving the customers’ experience and partners' procedures, without jeopardizing the legal framework required by our business.
How does the Legal Department position itself as a business partner, an innovator, and a compliance leader, and what specific achievements result from this approach?
A 360° vision of the company's activities covering the needs of both our customers and our partners enables the Legal Department to exploit innovation opportunities presented by legislative and regulatory developments, and assess the legal risks that might be linked to them. This capacity for innovation has facilitated the implementation of digital signatures and assumed responsibility for data protection as the volume of data exchanged with our partners increased. The team also contributed to innovations such as analysing new modes of distribution and working methods including LMEP's streamlining the analysis of KYC documents while ensuring that the underwriting experience is as smooth as possible for our partners and their clients.