BNL Private Selection is one of the 10 2022 Innovation Ambassadors, selected among 86 initiatives coming from 24 entities and 21 countries. Discover this 100% Made in Italy project presented by Valentina Berardi, Marketing Project Manager.
Could you introduce yourself briefly?
Valentina: Hello, I have worked in BNP Paribas Cardif Italy since 2015.
I handle the communication of the product both internal and external in Savings Marketing. I have been working closely with my colleagues of Savings Marketing on the BNL Private Selection project, and together we have seen the evolution of the product over the years, from the first version to the latest one, which is innovative and totally tailored to the customer.
In my free time, I have fun with my kids, yoga and fashion! And I use my creativity in product communication.
Tell us about BNL Private Selection : what is it about and how it came about?
BNL Private Selection is a complete, innovative and exclusive whole life insurance product, with death bonus, that allows the customer to invest in General Funds and Unit linked Funds through a single contract, and with different investment methods tailored to enhance the assets in line with client’s financial profile and investment objectives.
Launched in 2010, Guided Lines were introduced in 2020, and Protected Portfolios in 2021, which made us a BNP Paribas Cardif Innovation Ambassador this year.
BNL Private Selection is a revolutionary investment solution for the Italian market, totally tailored to the customer, which allows them to fit their needs across the main investment dimensions: theme, level of protection, risk/return.
BNL Private Selection provides a truly customer-oriented service model, from sales to after-sales, thanks to tools and commercial supports (dashboards, reports, brochures, events, etc..) dedicated and designed to enhance the customer-consultant relationship.
With its complete, distinctive and innovative value proposition, BNL Private Selection is positioned among the best insurance investment products on the market, offering a wide range of customized solutions that take into account the investment objectives and the financial profile of the Clients.
What did you find most striking or surprising during this project?
One of the most interesting parts of the project has been the participation of the best of BNP Paribas Group in finance-BNL and BNP Paribas Cardif. In our company, all the departments were involved in the study, implementation and launch of the product: the Actuarial team, Information Technology, Product Specialist, Marketing, Communication, Legal and Compliance, etc… This has really made the project uniquely transversal in nature.
This project has existed since 2010 and evolved over time. Nevertheless, I am amazed by the new capability we added last year: a sophisticated algorithm, iTIPP strategy, individual time-invariant portfolio protection.
Thanks to the power of the underlying IT architecture, each contract is individually managed! Through automatic rebalancing, to protect the capital on daily basis. Every day the algorithmic engine evaluates each policy’s need to rebalance the two components of the investment, the Performance Component and the Protection Component.
For example, if we were in a bearish scenario, the algorithm would gradually increase the Protection component, allowing the investment to lose less than the reference market. In the event of market recovery, the Protection Component would be gradually reduced in favor of the Performance Component.
This represents a distinctive and disruptive value proposition, through "our three P'": Performance (the best of BNP Paribas Group funds), Personalization (investment themes and level of protection), Personal Protection, selected by the customer based on his appetite for risk, obtaining a "personal parachute" for moments of market uncertainty.
What does your project mean for our company?
In a context of changing consumer needs, regulation and markets, we are moving from a product-centered model to one able of combining more services with added value for the clients, personalization and business sustainability.
BNL Private Selection allows the investment to be included in the main core business of the market, whose benefits are achieved by the dynamism and completeness of the offer, able to catch the opportunities offered by the financial markets in line with the client’s profile.
For these reasons, I would like all the Company employees to feel BNL Private Selection as the beginning of a new business model totally tailored to the customer, and oriented to BNP Paribas Group and stakeholders objectives.