BNP Paribas Cardif follows in the footsteps of its parent company for 2025

BNP Paribas Cardif follows in the footsteps of its parent company for 2025

Like its parent company BNP Paribas, BNP Paribas Cardif intends to capitalize on the achievements of its previous roadmap to reach 2025. The insurance specialist subsidiary has detailed the consequences of the three main areas of the group’s strategic plan to horizon 2025, “Growth, Technology & Sustainability”. Although the objectives are not precise concerning specifically the insurance activities, BNP Paribas has already indicated that it is aiming for an average annual growth of its net banking income of 4.5% per year for the institutional and private management businesses as well as for the Insurance (IPS) and aims to bring the cost/income ratio of these businesses from 65.2% at the end of 2021 to 62% by 2025. In 2021, BNP Paribas Cardif recorded record turnover, in up 32%, to 32.6 billion euros, and earnings down 1%, to 1.4 billion euros.

To grow, the bank-insurer wants to “strengthen its positions in savings and protection around the world and capture growth opportunities in emerging countries and Latin America”. To do this, it relies on its existing partnerships, Volkswagen Financial Services or Orange for example, and wishes to conquer new ones, like the signature announced in the first quarter of 2022 of a long-term protection agreement with Coppel, second retail group in Mexico, integrating a bank with 14 million customers. “Latin America is an area with very significant potential since more than 58% of the inhabitants say they do not feel sufficiently protected and the partnerships work very well there”, explains Pauline Leclerc-Glorieux, Managing Director of BNP Paribas Cardif.

NPS and positive impact investments

However, the subsidiary has set itself two quantified objectives. To “put technology and artificial intelligence at the service of the customer experience”, BNP Paribas Cardif wants to adapt its offer to integrate it “into the digital purchase journey, with simple and quick subscriptions, in response to a demand for immediacy from the customer, which is also expected in the follow-up and settlement of claims”. “Our policyholders position us in relation to their needs and their customer experiences with the ‘digital native’ on the products of their daily life and no longer in relation to other insurance players”, justifies Pauline Leclerc-Glorieux. The objective is thus to reach an NPS greater than 50 by 2025, a level that certain segments have not yet reached.

After creating an impact and innovation department in February 2022 to make insurance products more accessible and pursue a responsible investment policy, the bank-insurer wants to devote 1 billion euros per year on average to by the end of 2025 to investments with a positive impact. By 2021, he had spent 1.5 billion euros on these investments. “The main thing is to put this in the long term,” says Pauline Leclerc-Glorieux

These objectives are accompanied by a renewed executive committee made up of 19 members. “This demonstrates the dynamism of the company and the desire to align our organization with our priorities,” explains the general manager. Director of Strategy and M&A and Secretary of the Executive Committee of BNP Paribas Cardif, Charlotte Chevalier was, for example, appointed Director of the Value Proposition in June 2021 to carry out the central objective claimed by the group: to make insurance more accessible.


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