BNP Paribas Cardif Life Insurance announced the launch of "Signature AI Variable Annuity (Non-dividend type)", which helps customers prepare for the future funds along with asset management using AI (artificial intelligence) technology. It provided this new product through General Agency (GA) channel.

BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas.

The proportion of the elderly population in Korea is rapidly increasing and it is expected to enter a super-aging society in 2025. The relative poverty rate of people over the age of 66 in Korea was ranked first among 37 OECD (Organisation for Economic Co-operation and Development) countries (as of 2018).  
On the other hand, when looking at the sources of income for people in retirement age, more than half (52.0%) of them depended on earned income, and they did not prepare for old age through public/private pensions such as the national pension or personal pension. 

"Signature AI Variable Annuity" provides both an "AI fund" and "ETF fund". "AI fund" provides investment services using AI technology that is growing worldwide while the advantages of "ETF fund" are low cost and diversified investment. With this new product, BNP Paribas Cardif in Korea offers a variety of investment options to customers who want to prepare for the retirement funds.

The "AI fund" composes an optimal investment portfolio with AI algorithms and asset management companies advice. "Signature AI Variable Annuity" provides a total of 4 AI funds which are equipped with a specialized AI algorithm (Mirae Asset AI, Fount, Shinhan NEO, and KB Anderson) respectively so that customers can make the most of the advantages of AI fund investment by selecting as many as they want, based on their investment preferences.
Customers who want to invest in ETFs can choose individual ETF funds.

"Signature AI Variable Annuity" can be selected from two types: the General Death Type that covers death, and the Disaster Disability Type that covers a high degree of disability. It can be subscribed up to age 70 depending on the policy period and product type. Policyholder can choose a payment option for basic insurance premiums between regular premium and single premium. If a policyholder wants more stable profit management after accumulating profit for a certain period of time, he/she can use "general account conversion" which is accumulated at the declared interest rate, or transfer of reserves into "bond ETF type funds".


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