April Group has set a goal of exceeding turnover of more than £850m (€1bn) in three years time with an “internationalisation” across all its markets – starting with international health, and “strong” ambitions in Europe, the Middle East and Asia.
Laying out its Spring 2027 strategic plan, the firm said with sales of €630m by 2023, 20% of which would be generated outside France, its Spring 2023 strategic plan has enabled the firm to “return to its basics” and achieve sustainable growth.
Consequently, it said it is looking ahead to a new stage in its development and has set itself the target of exceeding €1bn in turnover by 2027.
In October last year April International said it was looking to double its international private medical insurance (IPMI) business in the next four years and expected to be active in acquiring other providers as well.
Four cardinal points
The firm laid out four cardinal points to guide development: the spirit of conquest, customer delight, technological performance and talent.
It added with its sustained growth, April Group will further accelerate its development based on three principles:
- Organic growth in its traditional markets: health and personal insurance for individuals, professionals and businesses, health insurance for expatriates and property and casualty insurance (auto, two-wheeler, construction, real estate and yachting)
- Diversification into new growth drivers, as the group has already begun to do with savings and asset management, which have become its fourth business line
- Internationalisation in all its markets, starting with international health, and strong ambitions in Europe, the Middle East and Asia.
Diversification and internationalisation
In terms of diversification and internationalisation, April intends to step up its external growth momentum, as demonstrated by the two deals completed since the beginning of 2024 with French savings company DLPK and UK two-wheeler specialist Lexham Insurance.
It added its consolidation drive will “naturally” go hand in hand with its ongoing commitment to defending the interests of customers, particularly in terms of access to quality healthcare for as many people as possible.
Improving the customer experience
And having improved its Net Promoter Score by more than 20 points in four years, the group said it is seeking to accelerate its efforts to improve the experience of its partners and customers, by focusing on three key areas:
- Enhancing its service approach (easier access to healthcare networks and to teleconsultation facilities, etc.)
- Improving its digital systems – from the underwriting process to self-care areas and conversational tools
- Strengthening and continually training the teams in contact with customers and partners, to offer them the best in technology and human relations
Investment in technology
April also said it plans to invest €70m in its digital and technological transformation by 2027, with a twofold aim:
- Capitalising on data and artificial intelligence (AI), via iterative projects that will be carried out within the group in France and internationally across all business lines to identify the potential for creating value for employees, customers and partners
- Continuing to strengthen cyber security in an environment of heightened threat to all economic players
Developing talent
And looking internally, the group said it plans to offer a “structured and enriched” employee experience based on three levers:
- Developing talent through the knowledge factory, which will include strengthening the April University and launching an Apprentice Training Centre
- Focusing on employees, with several agreements on intergenerational dynamics and inclusion and diversity, as well as the relocation of the group’s head office to more modern, collaborative offices in Lyon, France
- Greater sharing of value, with the opening of capital to all the group’s employees worldwide from April 2024
April added it plans to fuel its sustainable growth with a “positive and real” impact in terms of CSR, in particular through its April Foundation, which focuses on the contribution of behavioural sciences to health prevention and promotion.