With more than 75 years of history behind La Capitale and SSQ Insurance, the two organisation joined forces in 2020 to create the largest mutual insurance company in Canada, Beneva. Employing more than 5,000 dedicated employees, Beneva is committed to its mutualist roots, taking a human approach as it developed its new operating model, values and brand identity to serve its 3.5 million members and customers.
“Beneva is a mutualist company where people are looking out for people. It’s in our DNA!”
In December 2020, Beneva was officially unveiled as the new name for the largest insurance mutual in Canada created through the merger of equals of La Capitale and SSQ Insurance. Proud of its new branding, identity and its values, Beneva is confident that a more caring approach will resonate with Canadians across the country.
“Beneva is based on more than 75 years of experience with recognized and reliable expertise in insurance and financial services. Creating Beneva gives ourselves the means to grow on a national scale, while returning insurance to its essence: people looking out for people” says President and CEO Jean-François Chalifoux, when speaking to Insurance Business Canada.
“La Capitale and SSQ Insurance were so similar in terms of our nature, our values and the way we conducted business that coming together made great sense; this really is a merger of equals.
“By joining together, we broaden our service offering in insurance and financial services for individuals, groups and associations. As Beneva, we have the means to grow our presence from coast to coast, positioning ourselves among the largest insurance companies in Canada, while always remaining as a company that will put people first”
A people-first purpose and brand
Inspired by its mutualist roots, the strength of Beneva’s name lies in its meaning. The customer understands that choosing the company is beneficial to them, and that it is caring by nature. The very etymology of the name – bene (good) and va (to go) – is entirely positive.
Beneva evokes the strength and reach of a major insurance company, but with a personable side, suggesting a whole new kind of experience. “Beneva expresses the company’s essence and personality, which are reflected in the people-focused, friendly and approachable tone and visuals” says Jean-François.
People are at the heart of Beneva’s purpose: to support people through all stages of their life by giving them peace of mind and contributing to the well-being of the community.
It has adopted values that reflect this focus on people and the community; and that embody the mutualist ideal:
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Customer commitment
Customers always come first: listening to their needs and developing close relationships to ensure that customer experience exceeds expectations.
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Engagement
Engagement is three-fold: mutual engagement with its employees in terms of wellbeing at work and developing a dynamic and inclusive workplace; engagement with partners, clients and members to build sustainable and mutually beneficial relationships; engagement with the community to make it stronger and fairer.
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Collaboration
Beneva are better and stronger together. Through cooperation, respect, trust and open-mindedness, it work together to reach and surpass common goals and embrace diversity.
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Driven unity
Pride is rooted in ambition to harmonize organizational performance and respect for people. Beneva is therefore able to excel at and proactively implement innovative strategies designed to ensure the success and the sustainability of the company.
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Integrity
Integrity is fundamental at every level of the company. Its message and actions are consistent: It does what its says, acting ethically, transparently and with accountability.
Published May 2021
Building a nationwide presence
Brokers are important partners for Beneva as the insurer seeks to build its presence nationwide. Despite changing consumer preferences and increased digitalisation - accelerated by the COVID-19 pandemic – Beneva is committed that brokers will “remain at the centre of the insurer-insured relationship” due to the important advisory role they play for consumers, especially when it comes to more complex insurance solutions.
“Brokers offer choice, they offer personalised service, and their assistance in the event of a claim is welcome for consumers,” says Jean-François. “But at the same time, consumers expect more and more digital technology, and they want self-service solutions. I think there are opportunities for Beneva to work in partnership with brokers to develop and deliver those solutions. We can also fulfill customers’ demands for easier access to contracts, billing, insurance certificates and claims processing – and there’s an opportunity for us to work hand-in-hand with the broker community to achieve that.
“At Beneva, we want to be as accessible and regional to consumers as possible. It will be up to the consumer to determine how they want to interact with us, but we truly value our relationships, past and future, with the brokerage community.”
About Beneva
Beneva was created through the coming together of La Capitale and SSQ Insurance to become the largest insurance mutual in Canada with more than 3.5 million members and customers. With over CAD 25 billion in assets, Beneva positions itself as a major player in the insurance and financial services industry. Its head office is located in Quebec City. Beneva is the largest group insurer in Québec and the 4th in Canada. It ranks 3rd in Québec in general insurance and 12th in Canada. It becomes the 4th largest individual insurance company in Québec and the 5th largest individual insurance company in Canada.
Jean-François Chalifoux
CEO
Beneva (Canada)
