Why Insurers Are Betting Big on Prevention to Stay Profitable

Alejandro Martínez · 2026-10-24

France FinTech recently brought together insurance leaders at Les Furets, in partnership with Oliver Wyman, to tackle a question that's becoming impossible to ignore: how can prevention keep insurance sustainable? The answer, it turns out, is more complicated than just telling people to be careful. ### The Real Problem: We're Great at Measuring Risk, Not Reducing It Jérémie Viscuso, a partner at Oliver Wyman, kicked things off with a keynote that hit hard. Insurers have gotten really good at measuring risk—better models, more data, sharper tools. But actually reducing risk at scale? That's still a struggle. And that matters because when damage costs keep climbing, premiums follow. Eventually, coverage becomes unaffordable for many people, even if insurers are still willing to write policies. That's where prevention comes in—not as a nice-to-have, but as a way to keep insurance accessible and competitive. #### The Catch: Prevention Only Works If It's Continuous One-off tips don't cut it. Prevention needs to be part of daily life, personalized, measurable, and genuinely useful. The best claim is the one that never happens, but that means insurers have to be present in their customers' lives—not just when something goes wrong. Since most insurers don't interact with customers daily, they're teaming up with service providers, maintenance companies, and other partners who are already on the ground. Technology plays a role here too. AI can tailor recommendations to specific profiles—a baker has different risks than a locksmith or a homeowner in a flood zone. But as Viscuso pointed out, AI doesn't replace human support. Trust and expertise still matter when it comes to understanding risks, funding repairs, or changing behavior. > "The best claim remains the one that doesn't happen." — Jérémie Viscuso, Oliver Wyman ### From Reimbursement to Continuous Support: The Health Insurance Shift Fabrice Staad, CEO of Alan France, showed how this plays out in health insurance. Alan's model is built around an integrated platform that combines prevention, coverage, and access to health services. The goal? Reduce fragmentation and give members a single entry point for all their health questions. This addresses two big issues: - **Inequality in care access**: Some pathways are long and complex, leaving people without proper support. - **Rising costs**: Health expenses are weighing on companies and employees alike. By focusing on prevention, Alan aims to improve outcomes and reduce costs over time. It's a shift from simply reimbursing claims to actively supporting members' health journeys. ### What This Means for the Industry The message is clear: prevention is no longer a side project. It's a condition for keeping insurance viable. But it requires a long-term commitment, smart use of technology, and partnerships that extend beyond traditional insurance boundaries. Insurers that figure this out will be better positioned to offer affordable coverage and stay competitive. For those of us watching the European payments and fintech space, this is a reminder that innovation isn't just about new apps or faster transactions—it's also about rethinking how we manage risk and keep essential services accessible. The insurance industry's pivot to prevention might just be the blueprint.