Star Assurance Unveils 2024 Financial Results, Marking Double-Digit Growth
Star Assurance today, April 3, revealed its financial results for 2024, boasting a double-digit growth in revenue, exceeding 10% to reach 431 million dinars. "This performance is the result of a dynamic commercial strategy, improved team organization, and enhanced on-the-ground support," declared Hassène Feki, General Manager.
Solid Financial Performance
- Revenue growth: +10.8%, reaching 431 million dinars.
- Risk management: Improvement in technical profitability, with a claims-to-premium ratio decreasing from 84.3% in 2023 to 71.4% in 2024.
- Net social result: Over 10% increase, reaching 29.8 million dinars.
- Solvency margin: Coverage of 4.2 times the regulatory requirement.
Digital Transformation and Innovation
Star Assurance is accelerating its digital transformation with the launch of its digital platform, available on Apple Store and Android. This platform, offering seven insurance products, stands out with its omnichannel approach, providing a seamless customer experience across different distribution channels.
"The company has also invested in new IT tools, including a modern financial and accounting software, and the renovation of its agency network," highlighted Renaud Brunel, Financial Pole Director.
Innovation at the Service of the Customer
To facilitate insurance premium payments, Star Assurance has partnered with BNP Paribas to offer a staggered payment system by bank card. This solution will enable customers to benefit from immediate coverage while spreading their payments.
The company is also launching "Star Partner," a digital application that will manage claims from start to finish, connecting all involved parties (experts, approved garages, assistance).
Social Commitment and CSR
Star Assurance aims to play a significant social role by launching an incubation and acceleration laboratory for startups, focused on insurance-related issues. This laboratory aims to support young entrepreneurs, create jobs, and promote innovation in the sector.
