François Levasseur, known for his expertise in digital tools and customer management in the life and health insurance distribution chain, has been named Vice President, Global Alliances & Acquisitions at Equisoft.
Levasseur was the CEO of Kronos Technologies, a specialist in client management software for advisors, when Equisoft acquired the firm in April 2018. Prior to his new appointment, he served as Senior Vice-President, Canada.
Acquisitions in Europe and emerging markets
Levasseur told the Insurance Portal that he has already taken the pulse of the M&A sector, even beyond the border. "My role was limited to the Canadian side of our business, but I did participate in the acquisition of Grendel, a company based in Philadelphia that was developing software similar to Kronos’," he explains. He also mentions being involved in the February 2019 acquisition of the firm's management software provider AGEman Office.
Having found this experience very rewarding, Levasseur eagerly accepted the new position at Equisoft. The company had reached that point, he says. "We are carrying out projects in 12 countries and most of our clients are located outside Canada. We will continue to grow organically, but we are focused on making more acquisitions. We've made several in the United States. We’re also looking at Europe, a new market for us, and at emerging markets.”
Pandemic paves the way
The digital transformation and the pandemic are creating several opportunities in the global M&A market, François Levasseur adds. "A strategic focus is crucial because many industries are affected. In April, financing activities slowed down considerably but have now picked up again. I've just started in my current position and I'm already quite busy!" The global scale offers more diversity and a view of larger markets, such as the United States, he says. "The degree of innovation varies between countries. In some countries, regulators quickly adapt to innovation. I've seen great things happening in the UK, Brazil and the US," says.
Levasseur plans to draw from the experience in Asian and European markets, where insurance products are mostly sold by banks. Digital life and health insurance systems are better integrated in those markets than in Canada, throughout the distribution chain, he says.
