"Key companies in French industry need a 360° vision to insure their risks" : Meeting with Olivier Reiz, Managing Director of Liberty Specialty Markets France

Liberty Specialty Markets (LSM) celebrated its 20th anniversary last year. How is the company positioned on business risks ? 

In 2023, we were proud to celebrate our 20 years of presence in France alongside our broker partners and insured clients. With them, together, we have maintained a tripartite relationship for more than 20 years based on trust and transparency and in which everyone plays their role. At LSM, we provide specialty insurance solutions (Financial Risks, General and Professional Liability, Terrorist Risks and Political Violence, Political Risks, Special Risks - Event Cancellation, Fine Art, Transport, Energy, Environmental Risks, etc.) in the main markets, drawing on the experience and international base of the Liberty Mutual group. 

Faithful to our mutualist values, our priority has always been the satisfaction of our partners, brokers and customers. It is with this in mind that we have decided to complement our traditionally Distribution-oriented commercial system with a Customer Department, with the satisfaction of all our partners at stake. 

What challenges does the creation of this customer management center address ? 

We work with all types of companies, from CAC 40 multinationals to SMEs and support key sectors of the French economy; I am thinking, for example, of renewable energy companies, luxury industries and even financial institutions. These large groups whose activity is both in France and internationally need an insurer with in-depth knowledge of their sector, with a 360° vision of their risks and able to offer tailor-made solutions to protect them. 

It is with this objective that we created this Customer Department: to offer these companies personalized support with technical expertise by providing them with a global response to these risks.

Why these sectors in particular ? 

I actually mentioned renewable energy companies, luxury industries and even financial institutions. These are indeed dynamic, growing sectors which above all represent French economic excellence throughout the world. And these are also sectors which are exposed to complex risks, both in France and abroad and which need experts to support them.

At LSM, we have both experts who know these sectors perfectly and insurance solutions to provide them with a global response.

Our Customer Management department will therefore have the mission of supporting these companies, on a case-by-case basis. Of course, this is not set in stone and we are already considering opening up to other key industries. 

Does this new commercial approach call into question your relationship with the brokerage ? 

Absolutely not. We will continue to move forward in this tripartite relationship: the relationship with brokerage is anchored in our model. Moreover, we observe that many large brokerage firms also organize their sales force by industrial sector for similar reasons: better support, expertise, etc. 

If we promote our global expertise in these key industries, it is above all to better support our partners and their customers.