All you need to know about GDPR

Why am I always being asked to stay in touch?

As of 25 May 2018, the GDPR comes into force and new obligations will apply to the collection, processing and retention of personal data

How many emails have you received in the last few months asking you to renew your consent to all sorts of newsletters? Unless you don’t have an email address and live in a cave, you should have received quite a few. Your banker, your insurance company, your financial advisor all seem to have passed on the word! Where does this sudden renewed interest in your opinion come from?

The answer is four letters: GDPR (the General Data Protection Regulation).

What’s the GDPR about?

This new European regulation comes into force on 25 May 2018. It aims to unify the way consumers’ data across the European Union is collected and processed, while reinforcing their rights, complete with dissuasive penalties in the event of non-compliance (4% of the business’ overall turnover or a Euro 20 million fine in the worst cases). It applies to all businesses that process personal data, from bankers to mechanics, sport clubs to Telecom giants.

Why GDPR?

In recent years, the digitalisation of our society has brought about major changes in the way we interact on the web and the online economy is largely fuelled by the personal data we put out there without too much thought. You’ve probably wondered why you receive emails from companies you have never contacted? Until today, companies’ privacy policies remained quite vague on how they would use the data they request from you, which enabled unscrupulous companies to use it for one or more purposes and transfer or even sell it to third parties without any particular regard for the consent of the persons concerned.

Today, with the entry into force of GDPR, citizens will gain various rights, such as:

The right to transparency as to the purposes of the processing of their personal data
The right to access their personal data and rectify it
The right to request that the data be deleted or that its processing be limited, for example if the person withdraws consent to the processing, if the processing is illegitimate or if the data is not necessary for the purpose of the processing.
The right to transfer their data to other operators

Companies will be required to facilitate the exercise of these rights by appointing a Data Protection Officer (DPO), who will be their single point of contact for any request relating to personal data protection.

OneLife has appointed a DPO who you can contact at: dpo@onelife.com .

Challenges for insurers and their partners

The different actors of the financial market will not only have to implement the various principles that underpin any processing of personal data, such as the principle of lawful processing, transparency and access to the data, but they must also be able to skilfully balance the collection of data needed to fulfil their various regulatory obligations with the principle of data minimisation and retention.

Because of regulations such as the Insurance Distribution Directive (IDD), which will apply to insurance intermediaries from October 2018, as well as the law of 13 February 2018 on the fight against money laundering and the financing of terrorism, a large amount of personal data must be collected, for clear and legitimate purposes, to obtain the required knowledge on the investor.

However, this data collection will follow the principles of GDPR, including:

data minimisation: it will be the broker or insurer’s responsibility to carefully establish where the need to collect this information ends so as not to gather more data than necessary
limiting the processing of the data collected to the sole purposes set out by these regulations. In other words, the data cannot be used for commercial purposes without the investor’s consent
retention of information, requiring that personal information is not kept for longer than necessary
data processing with the greatest care by applying robust security rules so that it is not subject to any breaches

OneLife stands by its partners to accompany and guide them through the implementation of these new obligations, and by its customers to meet their needs and promote their rights.

Success for OneLife’s first roadshow events!

OneLife’s team of experts partnered with 17 speakers of international acclaim to present the advantages offered by life assurance for Iberian and Latin American clients to over 150 attendees (bankers, asset managers, financial advisers …).

The first roadshow was held in Zurich on 13 March 2018 and the second in Geneva on 14 March 2018. Following an introduction by Wim Dieryck, Chief Commercial Officer OneLife, the day was split into different panels by market. The morning session dealt mainly with Latin America with Abril Rodriguez of EY, Eduardo Valenzuela of Chevez and Abel Francisco Mejía of Sanchez Devanny presenting the specificities for Mexico.

Camilo Cortes of Dentons, Juan David Velasco of Posse Herrera & Ruis and Lucas Morena of Brigard & Urrutia then gave their overview for Colombia.
Robert Jarvis of Charles Monat Associates, Fernando Núñez of Hernandez & Cía and Roberto Cores of EY spoke about solutions for Peru.
Spain and Portugual were next up following the break, with a number of specialists for the Iberian region: Javier Seijo (EY), Enrique López de Ceballos (Eversheds Sutherland Nicea), Carlos Ferrer (Cuatrecasas), Fabricio González (Anaford), Filipe Romão (Uría Menendez), Joao Espanha (Espanha Associados), Sara Zad (Carnegie) and Marta Duarte (Cuatrecasas).

A panel dedicated to Brazil concluded the day with the expert insights of Priscila Stela Mariano da Silva (Pinheiro Neto) and Filipe Romão (Uría Menendez) who gave practical examples of how life assurance works cross-border such as a family moving from Brazil to Portugal and then returning to live in Brazil again.

The third roadshow was held in Luxembourg on 15 March 2018 and provided insight into solutions for Spain and Portugal. Carlos Ferrer of Cuatrecasas and Joao Espanha of Espanha Associados were once again present to explain with real examples the situation for wealth management in these two countries and the advantages of a Luxembourg life assurance policy for clients living in Spain and Portugal.

For Marc Stevens, Chief Executive Officer OneLife, also present: ““The following have changed over the years: families, the composition of these families, the different geographical places where the members of these families live and the nature of their wealth. These changes will continue in the future. This means that asset management and protection require a different approach and different techniques and that flexibility and internationalisation are becoming increasingly important. Managing this complexity can be achieved through a multi-disciplinary approach between bankers, lawyers, tax experts, family offices, brokers, insurers and others. Life assurance is a solution for these families to manage their wealth and to have it well protected.”

Want to find out more?

OneLife’s team of experts and its speakers invite you to attend our 4th and 5th roadshows (the last ones of this series): 10 April 2018 in Lisbon to find out all you need to know about life assurance solutions for Portuguese residents and 11 April 2018 in Madrid for Spanish clients!

For further information, follow us on LinkedIn!

New transposition date

The Commission has confirmed the delay in transposition to 1 July 2018.

However, the application date remains unchanged: 1 October 2018.

Given that the European Parliament and the Council are not expected to adopt the Amending Directive before March 2018, the delay will apply retroactively from 23 February 2018.

To know more, get a grasp of this directive, and see how OneLife has been preparing for the changes in collaboration with its partners, watch this video!

Unit-linked life insurance as a wealth planning solution for Spanish investors

A “unit-linked” product is an insurance contract under which the policyholder bears the full investment risk of the underlying financial assets of the policy. Therefore, under “unit-linked” products, the performance of the investments is not guaranteed by the insurance company in the short-, medium- or long-term.

The “unit-linked” product allows policyholders to combine in an efficient manner, financial, succession and tax planning in a single contract which complies by default with the tax and legal framework of the jurisdiction in which the policyholder is resident in order to avoid any legal or tax requalification risk.In the case of Spain, “unit-linked” products are mainly regulated by Spanish Insurance Law 50/1980 and, from a tax perspective, by Spanish Tax regulations such as Spanish Personal Income, Wealth and Inheritance and Gift Tax laws.

What are the relevant components of a unit-linked insurance contract?

The main components of a Spanish unit-linked insurance contract are the following:

Policyholder(s): investor who subscribes, signs and pays the insurance premium. Could be an individual or a company.
Insured person(s): risk element covered under the insurance contract. Could be one or several persons.
Beneficiary(ies): person or entity that will receive the insurance indemnity upon the occurrence of the insured event.
Asset manager: professional entity duly licenced in its home jurisdiction to perform portfolio management activities. The asset manager may be entrusted by the insurer to manage the financial assets on a discretionary basis under the insurance contract based on the investment strategy chosen by the policyholder at inception.
Custodian bank: financial institution which provides custodial services in relation to the financial assets held under the policy(ies).

What are the main benefits of subscribing a unit-linked product with a Luxembourg insurer?

The main advantages of unit-linked insurance policies issued by Luxembourg insurers are the following:

Asset protection: The Luxembourg authorities, and more specifically the Luxembourg Insurance Regulator, the CAA (Commissariat aux Assurances), have designed a unique scheme under which the assets of the policyholders are segregated off-balance sheet from the insurer’s and custodian bank’s balance sheet. As a result, in case of insolvency or bankruptcy of the insurer or the custodian bank, the assets of the policyholder remain fully protected from any ordinary creditors’ claims.
Confidentiality: Luxembourg insurers and its professionals are fully bound by strict professional secrecy rules which ensure full confidentiality for the policyholders and any possible beneficiaries.
Investment flexibility: Luxembourg investment rules allow for great flexibility as to the type of financial assets in which the premium contributed by the policyholder can be invested. It is not uncommon to observe how investment managers invest in alternative or hedge funds and private equity through Luxembourg life insurance policies in order to obtain higher yields.

What is the tax treatment of unit-linked products for Spanish investors?

For income tax purposes, Spanish resident policyholders are subject to Spanish Income Tax (i.e. Savings Income Tax at a marginal rate of 23%) on any gains realised in case of partial or total surrender of the policy. Only the gain element (if any) will be taxable, not the full surrender amount.

For Wealth Tax purposes, the Spanish resident policyholder has to pay Spanish Wealth Tax on the surrender value of his/her policy as of year-end. It is worth bearing in mind that the final tax liability could vary significantly depending on the region of Spain where the policyholder is resident. Indeed, some regions do apply significant tax exemptions and deductions for Wealth Tax purposes. For those investors willing to optimise Wealth Tax, it is important to mention that “unit-linked” insurance policies may offer different compliant solutions to reach this objective.

In relation to Inheritance and Gift tax, the Spanish panorama is rather complex as each Spanish region has a broad remit to exercise legislative powers in this field. That being said and broadly speaking, unit-linked insurance policies will not be subject to particular Inheritance and Gift tax rates in comparison with other financial products or assets. However, the flexibility of insurance policies as a succession planning tool allows, if correctly implemented, to plan or postpone the tax liability in full compliance with Spanish tax regulations.

Should you need additional information in relation to unit-linked products for Spanish resident investors, do not hesitate to contact our Sales representatives:

José Manuel Tara, Regional Director Iberia & Latam, at OneLife

Luis De La Infiesta, Regional Sales Director Iberia & Latam, at OneLife at OneLife

Gonzalo Garcia-Perez, Wealth Planner Manager for Iberia and Latam markets, at OneLife

Latin America’s sleeping giant

When it comes to Latin America, Brazil is the giant of the region. Its prominence is the result of a combination of factors such as continental dimensions, diversified natural resources, a huge consumer market and the list goes on. In the 2000’s, the economy profited from global growth and high demand for its commodities. Such prosperity came under threat in 2008 due to the global financial crisis, although the country was able to partially contain its effects. Unfortunately, Brazil did not take this commodities boom as an opportunity to tackle important issues that have been challenging sustainable economic growth for decades. Instead, it kept the same mediocre policies. It did not push forward with the necessary fiscal and political reforms, nor did it make essential investments in infrastructure.

Furthermore, the country has been gripped since the beginning of 2015 by an endemic corruption scandal that took over international headlines and reached people at the highest levels of business and politics, including former Presidents Lula and Dilma. This spreading corruption scandal has been testing Brazil’s institutional and democratic limits. As a result, many have claimed that the country underwent its worst recession. Despite hints of a recovery underway, the quality of life is not improving for Brazilians. The jobless rate is high and violent crime is on the rise due to drug-related activities and widespread police corruption. Access to quality public services such as education and health care is still a tremendous challenge. Despite its potential and greatness, Brazil is a sleeping giant intoxicated by its socioeconomic challenges and corruption affairs.

Portugal as a safe harbour for Brazilians HNWIs

Amidst the political and economic uncertainty, a Brazilian diaspora has been spreading in the past years and one of the favourite destinations so far has been Portugal. Among the attractions are great quality of life, no language barrier, cultural proximity and low cost of living. In addition, Portugal is very much in vogue nowadays and even Madonna has been extolling the delights of living in the sunshine capital of Europe! Moreover, the government has stimulated inbound mobility by creating the Golden Visa programme and the Non-habitual resident regime that have particularly attracted Brazilian HNWIs.

Once they relocate to Portugal, Brazilian HNWIs have been assessing which is the best tool to structure their wealth usually under custody in Switzerland, Luxembourg, Panama and Caribbean countries. Frequently, the main objectives of this niche of clients revolve around investment flexibility, tax optimisation and cross-border inheritance planning. Hence, quite a lot of hype has surrounded life assurance as the most popular structure to achieve such goals.

Main advantages of foreign unit-linked life insurance to beneficiaries resident in Brazil

Life assurance is a structure fully recognised and compliant in Portugal, offering great investment flexibility and a very attractive tax regime to policyholders and beneficiaries resident in the Portuguese territory. Nonetheless, as Brazilian HNWIs usually leave family members in their home country once they relocate to Portugal, it is important to highlight the advantages that life assurance might offer from a cross-border succession angle. Frequently, this type of client needs a solution that consolidates investments and simplifies international succession procedures often connected to multiple jurisdictions, which could be quite expensive and time-consuming. Given their international status, they have to have a structure that is not only efficient and compliant for family members living in Portugal but also in Brazil.

From a legal perspective, the Brazilian Civil Code foresees that death benefits arising from a life insurance contract are not considered as part of the deceased’s estate. For this reason, Brazilian beneficiaries would be able to receive the referred proceeds shortly after the life assured’s death, without initiating an international inheritance procedure. The settlement period should not exceed one month from the date of receipt by the insurance company of all the documents necessary for payment.

From a tax perspective, such proceeds would not be subject to inheritance/gift tax as the triggering event for such is the transfer of property or right resulting from succession or donation but not life insurance indemnification. Moreover, the Brazilian Income Tax Code sets out that the stipulated capital of a life insurance policy paid to a Brazilian resident as beneficiary is exempt from income tax. The Brazilian tax authorities have already recognised that such exemption also covers life insurance policies contracted abroad, as long as the Brazilian insurance mandatory characteristics regarding the regulatory aspects are duly observed. Hence, if properly designed, proceeds paid to Brazilian beneficiaries as a result of the death of a life insured in Portugal could be exempt both from income and inheritance/gift tax.

However, we must stress that a robust structure must be designed in order to avoid a tax requalification of the policy in Brazil as a typical foreign financial investment. To qualify as life insurance, the solution must guarantee an indemnification payment for future and unpredictable events and contain a reasonable death risk coverage. OneLife has experience in helping our Brazilian HNWI clients on their relocation journey to Portugal, providing them with a strong tailor-made solution that meets their personal needs and objectives. Do not hesitate to contact us in case you need help with yours.

Article by Taiza Ferreira, Senior Wealth Planner at OneLife

KYCTech-OneLife: a fruitful collaboration

Milenko Keserovic (Compliance Manager at OneLife) and Luc Maquil (Co-founder of KYC Tech) shared the first steps of the collaboration between their two companies during the RegTech Summit which took place at Luxembourg-Kirchberg on 12^th October. “One click, One KYC report” actually best describes their common Compliance – or Reg – and Technology – or Tech – project.

“Technology makes compliance more efficient. It facilitates administrative tasks and allows employees to work on projects with added value” started Luc Maquil, who co-founded KYC Tech with his partner Thierry André to help answer the growing challenges posed by regulatory constraints. “We have a symbiotic approach, as we look to apply our RegTech solution in an efficient way for the business” explained Mr. Maquil. The solution is composed of multiple ingredients, the first one being raw data (PEP lists, terrorists lists, sanctions lists…) which can also be extracted from the internet, social media, etc. Workflow is also a crucial step: who undertakes the action? What needs to be done? Exchange and collaboration are key. Then comes architecture: identify, select, plug and comply.

“Save time and focus on added value”

Milenko Keserovic then took the stage to go over the collaboration between OneLife and KYCTech. “When we onboard a new client, we face a number of regulatory constraints. First of all, we need to screen the name of the client – client being a generic term, also meaning entities and not only the holder of the policy” started the Compliance Manager, who continued: “These tasks are currently being done manually. KYCTech has a fully automated solution: when we register a client into the database, the system makes an automatic call to the platform and the results come back in just a few seconds”. Then, the Compliance team can easily decide whether to onboard the new client or not. “The results are positive. Clients are categorised in the right way and the tool is user-friendly. It has a lot of benefits: no manual work means less risk of error” explained Milenko.

KYCTech also provides OneLife with an Enhanced Due Diligence (EDD) solution. Here again, work is currently being done manually, and experts have to devote a lot of time to collect information and documents. “The RegTech startup is able to offer an EDD report which we have tested: we send a request and receive a comprehensive report within the next 48 hours. We can then focus on analysing the file” added the Compliance Manager who describes the report as “accurate, useful and full of information”. The tool is automated, simplified, immediate and cost efficient. Moreover, the two experts are also currently developing solutions to facilitate the tasks of the compliance team when it comes to dormant policies.

Finally, Milenko Keserovic explained that on the one hand this project has been managed in an agile way, based on exchanges and interaction between the teams of KYCTech and OneLife. On the other hand, the RegTech startup tries to understand how OneLife employees work, what and why they do it. Milenko Keserovic and Luc Maquil can only agree on this exciting project: “We both realise more and more that technology can really be helpful and allows employees to save time which can be used for tasks where human judgment is needed”.

InsurTech : using technology to change the client experience

On 12 October, at the second edition of the InsurTech Summit at the Novotel Kirchberg, CEO OneLife, Marc Stevens, participated in a round table discussion in the company of his Luxembourg peers. The experts from the life insurance serctor discussed the themes of innovation and investment in the area of InsurTech.

The session was moderated by Geoffroy Gailly, Partner at KPMG, who asked about the return on investment in the area of InsurTech. “What are the amounts and how are they invested? How do you measure the ROI ?” asked M. Gailly.

For Marc Stevens, measuring the end-to-end ROI is simply not possible : “A better way of looking at it is to define a field of application and to to take processes into account”. The CEO of OneLife then shared a number of examples with participants: the use of robots for e-mail management, requiring an investment of two days, in order to gain 20 man-days per year. In addition, prospectiing using social media and notably LinkedIn. This investment, led by Christophe Regnault, Digital Marketing Manager at the life insurance company located in Capellen, is already bearing its fruit. As Marc Stevens indicates, the cost is 10 times lighter than using traditional prospection methods and the ratio is 3 times higher. Moreover, according to the CEO, certain questions remain: “How can these prospects be converted into real partner relationships ? In fact, our prospects are developing in a digital environment, so the question is, can your company evolve in the same universe as them?”

At OneLife, investment in technology goes hand-in-hand with a new way of managing projects, with an Agile type of approach advocated by Eric Lipper, COO of the life insurer. “We are now able to deliver new products and services in a much shorter timeframe. This was the case with our App developed last year. If it is difficult to evaluate the return on investment from A to Z, a number of different factors may be calculated which demonstrate that we are moving in the right direction” added Marc Stevens. He went on to say : “Spending is easy, Smart spending is way more difficult”.

The Luxembourg life insurance experts then discussed the digital transformation within their respective companies. Marc Stevens began his speech by sharing an example of a site comparing different non-life assurance propositions, launched over 20 years ago in the Netherlands. «Today, 60 % of product distribution passes through this site. However, the same concept for life insurance companies just didn’t work’. With this example, M. Stevens also emphasised the importance of the interchange between human contact and technology. «Some do not want either telephone or face to face contact, as they are used to a totally digital experience. But in our sector, some still prefer human contact. One of the challenges is therefore to be able to integrate this interchange process”.

The client – and partner – experience is key and technology can now allow an optimal level of exchange which creates new relationships. “Thirty years ago, technology wasn’t mature. Today, we are involved in a process of change with a variety of different marketing operations and HR tools etc … we have embarked on a journey without really knowing the final destination. But one thing is sure, the client experience can only benefit from it, as will, in fine, the experience of our employees, our partners and our clients” concluded Marc Stevens.

GDPR in the life insurance sector: constraints and opportunities

On 12^th October, more than 200 professionals from the Fintech world gathered at the Novotel Kirchberg for the first edition of the RegTech Summit. While local and international experts focused on the opportunities brought by the use of RegTech solutions or on the importance of securing information in a big data era, Eric Lippert, COO of OneLife gave a presentation on the upcoming General Data Protection Regulation. How will it impact the life insurance sector?

Companies are not yet compliant

The COO of OneLife started by sharing numbers about the upcoming GDPR regulation, which assesses the readiness of companies: “In October 2016, 97% of companies in Europe had no strategy to deal with GDPR. 23% expect sanctions as they won’t be ready. And more than 50% admitted they won’t be fully compliant”. Yet, Eric Lippert thinks Luxembourg is in a good place and has a strong advantage compared to other countries in Europe, mainly because of the banking and insurance privacy laws, and the presence of authorities such as the CSSF and CNPD. “We have been dealing with data privacy for years” he added.

New rules will be game-changers for life insurers

Eric Lippert then listed several differences with the current privacy policies: in case of a data breach, companies will have 72 hours to provide the CNPD with all the relevant documentation, the fine will go up to €20m or 4% of the turnover. “It will have huge consequences for the companies who do not respect these new GDPR rules” explained Mr. Lippert. Another important aspect of the new European regulation will be the consent: as a matter of fact, the formal consent of the customer will be needed in order for companies to use the data. They will also have to be able to prove and provide it at any time. Finally, the ‘right to be forgotten’ will change the game, with customers now able to ask the insurer to delete all their data, and so will the portability aspect: insurers will have to facilitate the transfer of data if the clients request it. “The major constraint will actually be administrative, with the formalisation of the new rules. This requires the appointment of a Data Protection Officer and annual audits of the processes and rules in order to make sure the company remains compliant.

Eric Lippert ended his presentation on a more positive note, highlighting that GDPR also means new opportunities for life insurance companies: they will be able to take control of their own compliance, build a stronger client relationship based on trust, work on the quality of their data, enhance their digital marketing. “There is also a huge opportunity in Europe for centralised KYC” he added.

Focusing on the Essentials. Ready for PRIIPs financial regulation!

Learn more about the scope of the new regulation, its aims and requirements – and how OneLife has been preparing for the changes

All you need to know about the new regulation in this short video :

We all make resolutions for the New Year, amongst others to be prepared for the challenges ahead.

Packaged Retail and Insurance-based Investment Products, or PRIIPs, is a new EU Regulation due to enter into force on 1 January 2018. The aim of the regulation is to enhance transparency and comparability through greater disclosure to clients. This is achieved by providing investors with key facts and figures about the products, their purpose, costs and any potential risks before they make the investment. All through a standardised and mandatory document called Key Information Document (KID).

OneLife is founded on fresh thinking and a proactive approach. Get informed about the PRIIPs initiative through this short video!

“Create champions within your organisation”

On 21 June, in the afternoon, the OneLife HR and Digital managers, with the continued presence of Nicola Doherty from LinkedIn and Alizée Del Mastro from Lynda.com, presented the workings of the tool proposed by Lynda.com in full detail to the members of the executive committee, managers and beta-testers.

For Nicola Doherty, whose mission was to ensure that staff may benefit from the full capacity of the e-learning platform, “Lynda.com meets the needs of Millenials, always on the lookout for new skills and training”. She added: “in many companies the new generations justifiably complain of the lack of training. Lynda.com’s interest is as follows: staff will not need to spend hours on training. The idea is really to maximise the few minutes spent in order to refine one’s professional skills”.

Communicating, encouraging and sharing

The Regional Sales Manager also explained that the success of this training programme depends on the commitment of staff. This must be communicated, therefore: via newsletters, via the creation of an intra-company club or simply by creating and sharing a playlist of training which potentially corresponds to the various members of a team or to all the employees of OneLife. “Speak about it over lunch, initiate a discussion, create habits” Nicola Doherty recommends. The possibilities of communication within a team, and even for all the staff, are many: posters, sharing experiences or gamification techniques recompensed for the most assiduous employees. She added: “This tool will enable you to create real champions in your team, in your company. They share their successes and thus transmit their motivation to their staff. Why and how they use the platform? What is their favourite training? What is felt about their daily work and their missions? Share your figures! It is how you are going to promote the tool which will make it successful.” The training, if integrated into the performance evaluation process, will also enable the next stages of a career to be determined: leadership, management, but also more technical solutions, which must not be neglected. Nicola insists also on the importance of feedback and user experience: to managers, company management, but also to the LinkedIn and Lynda.com teams. “This feedback must be constructive and will enable all stakeholders to enhance the efficiency of the platform” the LinkedIn employee stressed.

Alizée Del Mastro went further: “Managers, create a learning path within your team! The training available on the Lynda.com platform enables your knowledge to be refreshed and updated. This is a crucial point in a company in the midst of transformation”. The videos are displayed according to their popularity, recommended and tagged: the Lynda.com algorithm thus proposes the training that most closely matches your profile. On the technical side, managers play the role of administrator on the platform, enabling them to assign training to their staff and to ensure that they have been followed, while adding personalised documents and messages. The aim is therefore to encourage the members of one’s team but also to align their skills so that they can complement each other. Lastly, reports can be produced: connection frequency, content viewed, devices used and much, much more. “It is important to monitor staff habits when this type of training plan is initiated. The manager must observe, understand and adjust, if necessary. Hence the great importance of feedback” Alizée explains. And as Nicola stresses, the purpose of these reports is to facilitate both the life of managers and of the staff who undertake the training.

A flexible e-learning platform

The beta-testers then shared their experience after several weeks of testing. For Nathalie de Kerchove of the Compliance & Risk department, “the strength of this e-learning platform lies in a great choice of training and it is very easy to access”. She also highlighted the flexibility of the solution proposed by Lynda.com: it is not necessary to spend hours or days on training Jérôme Lejeune of the Customer Services department drew the same conclusion: “The division into chapters is very practical, as is the possibility of pausing the training and videos that you have started”.

Lastly Laurence Parison, Chief Human Resources Officer, concluded by highlighting the importance of following your own training, and not only those imposed by the managers: “The mandatory training may be undertaken during working time, but everyone is responsible for developing their skills. Hence the great benefit of subscribing to solutions such as Lynda.com. So we can speak of a win-win situation for the employee and for the employer”.