A simple, inclusive and 100% digital insurance solution thanks to the combined strengths of Nickel, BNP Paribas Cardif and Lemonade
In today’s fast-evolving banking sector, easy access and simplicity are essential success drivers. This is why Nickel – a French fintech and part of the BNP Paribas group that is democratising access to basic banking services – decided to expand its offering with a new 100% digital comprehensive home insurance solution. To develop the new product, Nickel teamed with BNP Paribas Cardif and Lemonade, an insurtech recognised for cutting-edge technology.
It took the partners just six months to create an innovative insurance solution that is both broadly accessible and simple to use, aligned with the expectations of Nickel customers. Nickel Chief Executive Officer Marie Degrand-Guillaud and Marine Perraud, Head of Alternative Distribution for BNP Paribas Cardif in France, talk about the success factors that underpin this partnership.
Why did you decide to launch this insurance solution with BNP Paribas Cardif and Lemonade ?
Marie Degrand-Guillaud (Nickel) :
Our customers had been asking us for an insurance solution for some time, but we didn’t want to just add another product. We needed a partner to help us design a solution aligned with our identity. This three-way collaboration with BNP Paribas Cardif and Lemonade has proved a tremendous success for Nickel and our customers. It allows us to expand our product offering while remaining faithful to our DNA, which centers on simplicity and accessibility.
Marine Perraud (BNP Paribas Cardif) :
At BNP Paribas Cardif, we strongly believe that insurance should be a useful and inclusive service. This project is a perfect illustration of our ability to combine our strengths with those of digital players to create a customer experience that’s both simple and totally satisfying. Thanks to this fully-digital solution, we have not only met the expectations of Nickel customers, but also introduced an entirely new approach to home insurance.
How did the collaboration between the three partners work ?
Marie Degrand-Guillaud :
Our collaboration is underpinned by complementary expertise. Nickel has an in-depth understanding of its customers’ expectations and knows how to devise simple digital processes. Lemonade brought its technology and data expertise, and BNP Paribas Cardif contributed its extensive know-how in risk management and insurance partnerships. This combination enabled us to accelerate decision-making to design a very fluid and intuitive user experience.
Marine Perraud :
We applied a very iterative process, aligning our visions at each stage in the project. A collaborative and agile process let us design a solution that’s integrated end to end with the Nickel ecosystem. This was definitely an outstanding achievement in terms of both product design and execution.
How does this solution meet the specific needs of Nickel customers ?
Marie Degrand-Guillaud :
The innovation lies not so much in the product itself, but in the customer experience. Our customers want services that are simple, transparent and instantly available. The policies start at 4 euros per month.* The subscription process is 100% digital and takes just a few minutes via the Nickel app. This is perfectly matched to their lifestyle. It’s also a way to boost loyalty across a targeted customer segment by addressing concrete needs while meeting our objective of inclusiveness.
Marine Perraud :
Absolutely. This home insurance is designed for both renters and owners, who have complete control over managing the contract, with a totally digital journey. This proves that a well-conceived insurance product can make people’s lives easier and not be perceived as a constraint. We exceeded our sales targets in just three months, confirming that our product is well-matched to market demand.
What are your key takeaways for this collaboration ?
Marie Degrand-Guillaud :
Above all, we were able to draw on shared essential values. Successfully delivering a project like this in such a short timeframe requires effective teamwork. We combined agility, an ambitious vision and a sense of service. This shows that when you work together you can create something that truly has an impact, even in a tightly regulated sector like banking and insurance.
Marine Perraud :
This initiative proves that insurance can indeed be simple, accessible and useful. At the same time, it reflects our ability to adapt to new digital uses and to team with agile players such as Nickel. It’s a great success story from both a human and strategic perspective.
* Annual premium starting at 59 euros, including VAT. First monthly payment of 10.83 euros includes the “terrorism tax” of 6.50 euros, followed by 11 monthly payments of 4.33 euros. Premium for a renter with a 25 sq. meter apartment with personal property value under 10,000 euros and valuable or precious objects estimated at under 5,000 euros. There is a deductible of 500 euros and a liability cap of 6 million euros.
