Products & Solutions 10 Jul 2019


Greenval Insurance is Arval’s very own, specialist fleet motor insurance service. We talk to Laurence Ciupak, Arval Insurance Development Manager, about the company, its products and how it can help fleet managers better control their risk and work to reduce premiums.


Tell us about Greenval?

Greenval is a specialist fleet motor insurance company created in Ireland in 2007 by BNP Paribas Group to provide products and services exclusively to Arval customers. We operate in France, Belgium, Netherlands, Poland, Denmark, Finland, Spain, Portugal, UK, Italy, Germany, Czech Republic, Sweden, Slovakia, Norway, Hungary and Russia, and currently insure more than 350,000 cars and vans.


That’s a lot of vehicles.

Yes, we are a major motor insurer in our own right. Our approach is that we aim to provide to Arval customers all of the advantages of both an independent and a captive insurer. We do this by ensuring that we deliver pricing and services that are highly competitive in terms of the general motor insurance market while also bringing the expertise and knowledge that is part of being embedded within a world class leasing and fleet management company.


How does Greenval work with Arval?

The simple answer is “very closely”. Arval customers access our services through their account manager and we are integrated into almost every aspect of operations, from risk management to the development of new technology like the My Arval app. If you use us to insure your Arval leased car, we simply appear as a line on your monthly invoice.


What do you see as the biggest benefits for Arval customers in using Greenval?

There are two important advantages. The first is stability. We are not interested in just becoming your insurer for a year or two but want to build a long-term relationship. This means that we aim, as much as possible, to insulate our customers from short-medium term price volatility in the insurance market. The second is expertise. Because we are aligned so closely with Arval, we do not see insurance and risk management as two separate subjects. For us, they are part of the same conversation and this is something that very much benefits fleets when it comes to bringing down accident rates and premiums, as the accidents management is done by Arval. Arval and Greenval work closely, which makes the processes embedded and smooth.


What key risk management factors can help drive down insurance costs?

Risk management is a whole area of expertise in itself, which can cover everything from the vehicles you buy, to the behaviour and skills of drivers, to your day-to-day fleet management. This means that any recommendations that we provide to businesses regarding their fleet operations is very much an assessment of their individual situation based on our experiences and know-how.


A further important element is that our approach means we can often offer advice that leads to a relatively fast decrease in premiums. For example, we know that cars with ADAS devices (Advanced Driver-Assistance Systems) are less likely to be involved in accidents, so fleets that commit to a certain level of adoption for that kind of equipment might see a premium reduction.


How is technology helping you provide better motor insurance?

The key area of interest over the last few years has been telematics. Where used, this provides us with a level of information about real world fleet behaviour that just wasn’t available previously, affecting how we view the risk that each business represents as well as highlighting issues with particular vehicles or drivers almost as they are happening.

The other area of technological development is in our processing infrastructure, which has become much more straightforward for fleets thanks to developments such as the way claims can be made through our My Arval app.


Does being part of Arval help you better understand the repair process?

Yes, we believe so and we very much appreciate the importance of getting vehicles repaired to a high standard and back on the road as soon as possible, minimising disruption and hire vehicle costs. We use a network of quality repairers, and drivers and fleet managers are notified about the progress of their repair on a regular basis.


Do you provide comprehensive reporting to customers?

Reporting is an area where we believe we have a very high quality offering, especially when it comes to explaining and exploring the total cost of an accident. Fleet managers often tend to think only of the repair cost to their vehicle but we also explain those incurred against any third parties. This information allows us to work with fleet managers to better understand their risk profile and potentially take positive action for the future.


Are there any motor insurance products that you believe fleets would benefit from using that are currently neglected?

One product that we reckon fleets should consider more often is GAP or Guaranteed Asset Protection. If a vehicle is written-off, there is often a considerable distance between what the insurer offers and the amount owing to the lease company. GAP is designed to meet that shortfall and our product automatically pays out to the valuation shown on Arval’s books.


Finally, what do you like best about Greenval and its achievements from its creation?

People tend to think that motor insurance is just motor insurance, almost a commodity, but I believe it is an important product that protects people and businesses from high and unexpected costs. With Greenval, we aim to develop insurance products and bring a solution where customers benefit from both Greenval’s insurance expertise  and Arval’s expertise and sense of service.

It ultimately also helps to prevent accidents happening in the first place, with all of the trouble and heartache they can bring.


Laurence Ciupak

Arval Insurance Development Manager
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