Page 73

AT THE CHAMBE R – FR ANCO - BR ITI SH CONFE R E NCE 2 016

If you really want to compete, you have to adapt and change your culture and organisation equally valuable was hearing real-life examples.

He said that what disruptors need to do is offer a product

The next group of speakers – from HSBC, AXA Group's

that is both better and cheaper so that incumbents cannot afford

incubator Kamet, Sushi Venture Partners, What3Words and Clic

to replicate it, while there is strong demand from customers.

and Walk – offered a mixture of case studies and insight.

Stéphane Guinet, Founder of Kamet, the InsurTech start-

HSBC’s Group Head of Innovation, Christophe Chazot, made

up studio funded by AXA Group, agreed that it is extremely

a point that disrupting the finance industry is difficult, as it is

difficult to disrupt large, regulated industries. This is why AXA

such an established and regulated sector. HSBC itself has tried

has invested in Kamet while still offering it independence.

numerous tries to take the lead in disrupting the industry, for

‘Kamet works with entrepreneurs to imagine, incubate, build

example with the launch of its telephone-only bank First Direct,

and scale start-ups in the insurance and protection space,’ he

which launched in 1989.

explained. ‘But for us to achieve this and disrupt, we must be

‘At the time that First Direct launched, it was extremely

completely independent from AXA. This allows us to extend and

innovative, as it did not have any retail presence – it was

create new services and products that do not exist today – but

telephone-only,’ Chazot explained. ‘And since its creation, it has

which may be complementary to AXA in the future.’

consistently been rated as offering the best customer service

The topic of regulation was also addressed, as disruption

of all of the UK banks. 20 years later, it is still rated highly, but it

inherently changes the rules.

still only has 3 per cent of the banking market share. It takes a

What is the Government’s role?

long, long time to disrupt this industry. Who has the capacity to

Axelle Lemaire, the French Minister of State for Innovation

sustain efforts for long enough?’

K EY N OT E S PEA K E RS

T

wo of the most popular speakers of

networks have disrupted the print

the conference were AccorHotels

media industry; and my own industry

Chairman and CEO Sébastien Bazin

has been grappling with disruption

and Arnaud de Puyfontaine, the CEO

since the turn of the century. We

of Vivendi, who told their own stories

saw Napster in 2000, iTunes in 2001,

of disruption.

YouTube in 2005 and more.

The two leaders operate in two

‘The

cultural

and

creative

very different industries – Vivendi is

industries have been more exposed

in the entertainment space, while

than any other to disruption because

AccorHotels is in the capital-intensive

they are mainstream, global, largely

hotels industry – but Puyfontaine and

unregulated and comprise a product

Bazin have much in common, having

that is higly-desirable and consumable,

been

which users of new technologies can

responsible

for

overseeing

their companies’ response to digital disruption. Since

easily distribute.’ Sébastien

the

early

2000s,

Bazin,

meanwhile,

the

focused on how he led the drastic

entertainment and leisure spaces

transformation of AccorHotels from

have been totally transformed by

being a very large incumbent to being

digital disruption, which meant that

an agile, reactive group – which,

large established groups such as

when you own 4,100 hotels across 94

AccorHotels and Vivendi came under

countries, is no mean feat. He wowed

serious threat.

the audience with his stories.

Top: Sébastien Bazin, Chairman and CEO, AccorHotels Bottom: Arnaud de Puyfontaine, CEO, Vivendi

‘Disruption is the new normal for

‘If you really want to compete, you

the world economy,’ said Puyfontaine.

have to adapt and change your culture

‘Every business is being disrupted:

and

explained.

‘The key to our future in a disruptive

Airbnb has disrupted hospitality; Uber

‘Otherwise you will never be able to

market has been to do everything we

has disrupted the taxi industry; social

compete with the disruptors. But to

can to retain our customers.’

organisation,’

he

modify your company’s culture takes time and courage.

info

- january / february 2017 - 73

INFO Magazine | Marketing: A Brave New World  
INFO Magazine | Marketing: A Brave New World  
Advertisement