Improving Control of Risk Management and Internal Audit with SAI360

Case study at-a-glance

• Background: AG2R La Mondiale is a personal and property insurance group in France serving 8 million people with personal protection, health insurance, retirement and savings planning.
• GRC Challenge: Better risk management, reliable reporting and internal audit department support.
• Solution: A flexible and integrated GRC solution to support end-to-end internal control, enterprise risk management and internal audit processes.
• Benefits: SAI360 systematizes the risk management process and facilitates certification of the internal audit department.

The story

AG2R La Mondiale is a personal and property insurance group in France combining business performance and corporate responsibility with values such as parity and solidarity. AG2R La Mondiale covers all aspects of personal insurance, supporting all the health, life, casualty and asset insurance needs of their customers throughout their lives. It offers individual and collective solutions for social security, health, savings and pension regardless of age, social status and business sector.

Centralize and structure all the risk data to provide consistent information

Initially, selecting a software solution needed to satisfy AG2R La Mondiale's three main objectives.

• Growing challenges in risk management and new regulatory constraints for insurers made it important to introduce a risk management culture and to increase risk awareness within the group.
• Centralize and structure all the risk data to provide consistent and easy access to information.
• Provide a reliable and pertinent report of their risk management.

AG2R La Mondiale achieved those objectives with SAI360 and embarked on a new challenge: Supporting the internal audit team, particularly with following up on audit findings and the IFACI (French IIA) certification process.

Support for the complete risk management cycle

SAI360 supported AG2R La Mondiale in the operational deployment of their internal control and risk management initiatives across the organization.

The SAI360 GRC solution and our team of experts helped systematize the risk monitoring and support the complete risk management cycle: risk assessment, risk treatment, control measures, and action plan follow-up. An incident database was implemented. As a result, the company is now able to communicate on its risks through advanced reporting and can share information in real-time.

SAI360 also helped the insurer prepare for compliance with Solvency II by adding the internal audit module. The process started with AG2R La Mondiale certifying its internal audit department by the French IIA, which was facilitated by recommendations within SAI360.

Meeting ongoing business challenges

User-friendliness was a decisive factor when AG2R La Mondiale selected SAI360 and contributed to its overall user acceptance. The solution’s flexibility was an important criterion since the company wanted it to be able to support its existing methodologies.

“SAI360 is a very comprehensive platform which is able to not only meet our current needs but also our future challenges. The availability and expertise of the SAI360 consultants are additional assets which enable us to think together on our GRC journey.”

– Patrick Saint-Maxent, former head of Operational Risk and Quality Management at AG2R