Selection of Directors who are candidates for the position of Chairman in a private health insurance firm

Assignment

Assessing the suitability of each Director being considered for the role of Chairman in a private health insurance firm

Issues : Preparing for succession
Services : Leadership Consulting

Context

  • Private group supplemental health insurance firm
  • The Chairman had officially announced his departure at a Board of Directors meeting and three Board Members were candidates to succeed him
  • Eurosearch & Associés was asked to help guide this strategic choice by individually assessing each candidate to provide a neutral, objective perspective
  • The process had to meet the requirements of the Solvency II Directive for appointing an operational director of a private health insurance firm

Eurosearch & Associés involvement

  • We set up a structured process and assessment tools to determine how suitable each candidate was for the role, especially in terms of knowledge, skills, and behavior
  • We recommended putting together a Selection Committee of several key members in charge of developing a process for selection and sharing assessment criteria
  • We asked each candidate to provide a résumé and cover letter and take some online questionnaires assessing workplace behavior and aptitudes
  • In pairs, our partners met with each candidate for an interview lasting three and a half hours to discuss their career path and experience in private health insurance and trade unions, to review the results of the questionnaires, and to carry out a self-assessment of skills, as required by the French Prudential Supervision and Resolution Authority (ACPR)
  • We took references from people able to talk about their different undertakings and activities
  • A work meeting took place with the Selection Committee to answer questions and compare the candidates according to the chosen criteria
  • The Committee passed on to the Board the main points and its recommendation

Results

  • The Board accepted the Selection Committee’s recommendation. It elected the candidate with the least experience as a Director – less than one year – but with the highest commercial potential, mainly for taking the firm’s market development towards other major accounts
  • This choice, which went against the principle of seniority, was made easier via in-depth analysis of each candidate and the assessors’ neutrality with regard to different trade-union leanings