The Innovation Ambassadors program counting 84 innovative projects submitted from 24 countries worldwide in 2024, shows that innovation can be found everywhere at BNP Paribas Cardif. Discover how BNP Paribas Cardif, in partnership with Orange, enables the processing of claims for phone damage and oxidation in just a few seconds. 

Introduce yourself briefly: country, division, main tasks, personal interests outside the company (e.g., leisure and hobbies)

My name is Tom Thiberge and I’ve been working for BNP Paribas Cardif for 10 years now, having started here on a work-study programme. A few months ago, I joined Karapass, a subsidiary specialising in affinity insurance products, where I manage a data team. My role is to develop and promote our data services and analytics offer from an operational perspective, while steering Karapass towards a resolutely AI-driven approach, meaning an approach where AI plays a central role in decision-making, automation and process optimisation. 

Outside work, I love making pizza and I’m a football fan, a fervent supporter of AS Monaco.

Tell us about your project: its main focus, what is its about, how it came about, and what it will bring to BNP Paribas Cardif. 

Because phones are so central to our lives, we had to offer our customers an immediate solution in the event of a claim. Thanks to AI, we have reduced claims acceptance times from an average of two hours to just a few seconds. Responding in less than five seconds is not only a technological feat, but also a powerful lever for increasing customer satisfaction.

This innovation is based on a score calculated by AI using data from the claim report and the applicant’s history. It allows claims related to broken or oxidised phones to be accepted in a matter of seconds, for fast processing even in the evening or at the weekend.  For more complex claims that cannot be handled by AI, policyholders are automatically redirected toward the traditional process with specialised claims managers. Customers can also choose to be assisted by a claims manager and forgo the automatic approval process.


Implementing this solution in collaboration with our partner Orange illustrates our shared desire to offer an optimal customer experience by providing immediate and effective responses at every stage of the process.

Our determination to be a market maker in the affinity insurance sector is reflected in this solution, which creates value at every level: for our customers, our partners, our employees and for the group.

What did you find most striking/surprising during this project (perhaps you have an anecdote to tell us)? 

The ability to meet our commitments in a very short space of time, despite a dense roadmap. This was made possible by our teams of experts and their exceptional commitment. The success of the project is also due to the commitment of our employees, who have gone beyond the scope of their jobs to ensure that it was successful.

What advice would you give to employees who also want to innovate? 

It is essential for employees to be proactive and able to connect their area of expertise to the industrial processes that have to be integrated. We must always ask ourselves the question of what is the added value of innovation and then provide a concrete answer.

For a project to be successful, I think three essential success factors need to be in place:


•    Innovation must be part of an industrialisable process and provide clearly measurable value, especially for the core business.
•    Teams must be aligned from the design to the delivery stage, and effective, regular exchanges must take place with the sponsor and/or decision-maker.
•    Stakeholders must be committed to delivering a solution.

The Innovation Ambassadors program counting 84 innovative projects submitted from 24 countries worldwide in 2024, shows that innovation can be found everywhere at BNP Paribas Cardif.
Learn more about the importance of continuous education in the distribution industry and how BNP Paribas Cardif in Japan, by leveraging Tovie.Al Tutor Bot, helps our partner salespeople develop a better understanding of CPI products.

Introduce yourself briefly: country, division, main tasks, personal interests outside the company (e.g., leisure and hobbies)

Hello, my name is Hiroshi Chin. I am from Japan and work in the Transformation Division at BNP Paribas Cardif in Japan. My role is Analytics Manager and Chief Data Officer. My primary responsibility is to foster a data-driven culture within the company and drive digital transformation.

CIn recent years, my focus has been on analytics. We have conducted a series of analyses on both internal and external data, which has helped strengthen our partnerships through data-driven insights.

In terms of innovation, last year, we introduced a chatbot for customer education, which we call the CPI Tutor. This project has been an exciting initiative within our company, enhancing customer engagement and learning experiences.

Outside of work, I enjoy product making. In my free time, I experiment with making cheese and occasionally bread at home.

Tell us about your project: its main focus, what is is about, how it came about, and what it will bring to BNP Paribas Cardif.

Our project aims to enhance the education of our partner salespeople, helping them develop a better understanding of CPI products. By strengthening their foundational knowledge, they can offer and distribute more suitable plans to end users.

To achieve this goal, we have been conducting CPI Tutor lessons for our partner sales teams. However, due to limited human resources,-our team consists of only four people-it has been challenging to scale these sessions nationwide. Additionally, we work with approximately 70 partners, many of whom have more than tens of branches, resulting in a large number of salespeople to train.

Given these challenges, we came up with the idea of leveraging chatbots to provide remote educational courses. This approach allows us to deliver training more efficiently and ensure broader accessibility for our partners. Additionally, by offering digitalized services like CPI Tutor, we aim to showcase our company digital transformation capabilities. This tool not only enhances training but also serves as a valuable asset in negotiations with our partners, demonstrating our technological strengths and innovation.

Also, this is the first project in BNP Paribas Cardif to utilize Tovie.ai- a company-supported Chat bot platform. This chatbot will provide users with a unique and interactive experience. First, it will educate users using a Data book – a text document explaining different aspects of CPI in Japanese.
Second, it will offer quizzes to reinforce learning.
Third, it will engage users in role-playing exercises, providing a practical speaking experience to enhance their sales communication skills.


Additionally, all relevant documents will be displayed on the screen within the dialogue window for seamless reference. The chatbot leverages basic NLP (Natural Language Processing) to assess whether the role-play responses contain the necessary sales content, ensuring a comprehensive training experience.

What did you find most striking/surprising during this project (perhaps you have an anecdote to tell us)?

Although the first version of our chatbot prototype has limited functionality. In the POC, we found more than around 80% of users considered this solution useful. In next stage, we plan to broaden our product offerings by introducing additional coverage options including product knowledge or insurance claim knowledge. We will also implement a FAQ section to streamline partner inquiries and provide easier access to essential information. These improvements aim to reduce the inquiry from the partner.

Many of our partners and their salespeople have found it valuable for strengthening their CPI knowledge and supporting their daily work. Given this positive feedback, we believe there is great potential to continue improving the CPI Tutor and further align it with our goals.

From an AI perspective, leveraging AI for education is both an exciting and challenging approach. It presents new opportunities that were not possible in the past in the industry. Therefore, we should continue researching and investing in this field to enhance our capabilities and maximize its impact.

What advice would you give to employees who also want to innovate?

Right now, we are in a highly dynamic era filled with opportunities, especially in the field of AI, where progress is advancing at an unprecedented pace. To keep up with these rapid changes, we must stay creative and embrace challenges within the company.

The Innovation Ambassadors programme, which includes 11 winners among 84 innovative projects submitted by 24 entities around the world in 2024, shows that innovation is everywhere at BNP Paribas Cardif! Find out how BNP Paribas Cardif’s impact programme in France has made insurance more accessible to people living with Inflammatory Bowel Diseases (IBD).

Introduce yourself briefly: country, division, main tasks, personal interests outside the company (e.g., leisure and hobbies)

My name is Céline Scazzola. After gaining experience in various subsidiaries and commercial divisions within the BNP Paribas Group, I am currently part of the Impact Department under the leadership of Nathalie Doré, Director of Impact & Innovation. For the past four years, I have been supporting different core business lines in France in rolling out initiatives designed to have a positive impact. These initiatives mainly focus on savings, CPI (Creditor Protection Insurance), and protection schemes, covering topics such as product innovation/improvement, customer journeys and services, as well as certain procedural aspects.

As a coordinator, I assist, support and help embed Impact into core business activities.
My role is incredibly cross-functional, and I collaborate with nearly everyone on a daily basis! The Marketing teams are my closest allies, along with the Asset Management Department, Actuarial Affairs, and Customer Division. These groups sit on the business CSR committees, and I genuinely enjoy our regular interactions.

On a personal note, I love live performances (theatre and concerts), Pilates, skiing and restoring vintage chairs.

Tell us about your project: its main focus, what is is about, how it came about, and what it will bring to BNP Paribas Cardif

In our efforts to improve access to insurance for our customers in France—whether it’s Creditor Protection Insurance or protection schemes—we’ve been addressing impaired health risk coverage for over 15 years. This work has involved focusing on a range of conditions, including asthma, paraplegia, tetraplegia, Parkinson’s disease and, more recently, Chronic Inflammatory Bowel Diseases (CIBD).

For each condition, we take a deep dive: What are its defining characteristics? What are the latest treatment options?  The main goal is to offer customers affected by these conditions fairer pricing that reflects their actual circumstances, with fewer extra premiums and exclusions.

In France, Inflammatory Bowel Diseases (IBD) affect more than 300,000 people. Globally, these conditions are on the rise, as shown in the prevalence data below:  

Source :Fiche “Maladies inflammatoires chroniques de l’intestin” I L’Assurance Maladie (ameli.fr), 2022

This project on IBD was born from a meeting between Sigrid Motillon (Actuarial affairs, France), Pierre-Emmanuel Coville (Customer Division, France), and Professor Matthieu Allez, Head of the Gastroenterology Department at Hôpital Saint-Louis. The meeting took place in April 2019 during the annual event for the association of medical advisors in personal insurance, where Professor Allez was giving a lecture.

An initial conversation with the Professor confirmed that this condition would affect an increasing number of people in the future. At the same time, significant medical advances, particularly in treatment options, were emerging. This prompted us to initiate work to update our knowledge and approach to this condition.

Innovation #1: Benefit from the real-time expertise of a specialist in pathology

The partnership with Professor Matthieu Allez has enabled the development of an innovative risk assessment, taking into account real-time clinical data, including the effectiveness of the very latest treatments or therapies arising from recent medical advancements.

This information is highly valuable and complements the statistical studies conducted over several years.

Innovation #2: Development of a specific questionnaire addressing lifestyle habits
Beyond the latest medical breakthroughs, Professor Allez’s expertise has also made it possible to consider how individuals live with the illness, for instance, in terms of physical or professional activities. How does the person manage their illness? Have they found a balance between personal life and work life? And so on. 

We are able to offer coverage and premium quotation that are better suited to the actual situation of individuals affected by these conditions, particularly since some people can lead a normal life despite having a severe form of the illness.

This approach allows us to enhance our insurance offerings by providing more comprehensive coverage, meaning without exclusions, and by cancelling or reducing extra premiums. All these improvements make insurance more accessible and inclusive for our customers.

As a result, our policyholders are better protected and can, for example, pursue their professional projects or acquire real estate.

Results observed

The initial results observed are very positive and confirm our expectations.

As an example: across the BNP Paribas branch network, we offered comprehensive creditor insurance with no exclusions for over 90% of customers, a level nearly twice as high as before. In two-thirds of cases, the offer was made under standard conditions without a surcharge, again double the previous rate.

The first study allowed a before/after comparison of 140 cases involving individuals with IBD. The application of the new pricing structure significantly increases the acceptance of insurance at the standard rate (without exclusions or surcharges), rising from 12% to 47% of cases. Furthermore, the remaining surcharges are lower, thus enabling acceptance without exclusions. The initial figures obtained since the launch confirm this trend.  

What did you find most striking/surprising during this project (perhaps you have an anecdote to tell us)? 

These are tasks that require collaboration with medical experts for each of the relevant conditions, which is unusual in our profession. In fact, it’s very interesting to listen to the podcast with Professor Allez, where he mentions that he was initially apprehensive about working with an insurer, fearing it would hinder some of his patients’ ability to access property. He quickly realised, however, that it would actually help increase access.

The desire to improve things for our customers is the driving force behind our pursuit of innovation. These projects can be lengthy, so it’s important to stay on course while keeping in mind the goal of improving our products.

And as part of our ongoing efforts, since December 1st 2024, 9 out of 10 people treated for HIV can now access Creditor Protection Insurance with no surcharge or exclusions at BNP Paribas Cardif.

What advice would you give to employees who also want to innovate? 

Innovation can take many forms and cannot be achieved alone, especially in a large group like ours. We must listen to everyone’s ideas and seize the opportunities that align with BNP Paribas Cardif.  It’s a team effort that is we carry out together and that lets us move mountains!

In the field of impaired health risk coverage, ideas can come from various sources: the medical advisor at BNP Paribas Cardif, actuarial affairs, employees through reading or knowledge of conditions…It is up to us to find the specialists for the conditions we plan to target. In my view, we’ll have reached a level of maturity that means that the specialists themselves approach us, asking us to focus on their specific condition.

The Innovation Ambassadors program, counting 84 innovative projects submitted from 24 countries worldwide in 2024, shows that innovation can be found everywhere at BNP Paribas Cardif! 
Learn more about how BNP Paribas Cardif in Brazil has cracked into a new CPI market, offering affordable credit protection for elderly customers who want to carry out their projects, and ultimately making insurance more accessible.

Introduce yourself briefly: country, division, main tasks, personal interests outside the company (e.g., leisure and hobbies)

I’m Luciano Benicio, Commercial Director for Banks at BNP Paribas Cardif in Brazil. My responsibility is to win new partnerships in this sector and develop existing ones, like BRB (Regional Bank of Brasilia) and digital banks such Neon and PagBank. 

Outside of BNP Paribas Cardif I practice running and like all Brazilians, I´m passionate about football, and follow Flamengo, the biggest and most famous team in Brazil.. I also like to read and study topics related to economics, demographics and behavioral finance. Finally, I really like to watch movies and go to the beach with my family.

Tell us about your project: its main focus, what is is about, how it came about, and what it will bring to BNP Paribas Cardif. 

Well, the initiative is basically the increase of the age limit for CPI from 70 years old to 80 years old in BRB (Regional Bank of Brasilia).  Iin Brazil it´s really new and innovative.
Since the beginning of the operation in 2023, we have been discussing opportunities beyond what was already planned in the Business Plan. One of the opportunities identified was when they showed us a relevant part of their credits were given to the clients 70+, which were not protected by the previous insurer. 

We very quickly evaluated the opportunity, including using fresh information from our new demographic census (2022), where the aging nature of our population is made perfectly clear.
Besides, we negotiated with BRB that we would just approve the product with less commission, considering the inevitable raise of client value. So, for this product, we reduced commission at the same rate we were expecting the client value increase.

We had a lot of benefits: GWP increase; on top of what was planned on the BP. Moreover, the product is a perfect example of our culture, based on making insurance more accessible and with higher Client Value. Finally, we´ve just started to spread this initiative to other partners. 

What did you find most striking/surprising during this project (perhaps you have an anecdote to tell us)?

I would like to underline the importance of diving into the partner’s business—this case was a great example. BNP Paribas Cardif is in São Paulo, but BRB’s headquarters is in our capital Brasília (1000 km away). In 2023, I actually spent more days inside the BRB office than in São Paulo!

I’m always visiting branches and talking to managers, holding meetings with teams from different areas and looking for opportunities to improve and grow the business. In one of these meetings with the lending team, they made a comment about the volume of loans for people 70+ and that they were made without CPI. 

They brought up this point with little hope that Cardif would take up the challenge of protecting these operations. However, I brought the opportunity to Cardif and in less than 90 days the product was implemented. 

The bank was impressed with Cardif’s agility, and this is a clear case that shows how proximity and investigation always generates new opportunities.

What advice would you give to employees who also want to innovate? 


Innovation requires courage, resilience, a good communication strategy and strong arguments to convince others. That’s why we must be even deeper in the analysis of facts and data to build an innovative solution. 

That´s why I really like to ask questions to data. With well-structured questions, data takes great pleasure in bringing us good answers. After all, it is questions that move the world and transform it continuously.

Finally, this answer reminds me of two of my favorite books that exemplify the way I think about Innovation that could inspire our community: Originals – How Non-Conformists Move the Rooms (Adam Grant) and Fact Fullness – Ten Reason We´re Wrong About the World (Hans Rosling)

For more than 10 years, BNP Paribas Cardif has been using Artificial Intelligence to improve the quality of its services, meet the clients’ needs for immediacy and make insurance more accessible. 


Michael de Toldi, Chief Analytics Officer, and Sandrine Aymes, Analytics Manager at BNP Paribas Cardif, share their expertise on AI in insurance.

Click on the image below to view our new video Cover Stories:


 

Each year, BNP Paribas Cardif’s Innovation team carries out a massive sourcing campaign across all BNP Paribas Cardif regions to  identify projects that are ready for public communication that could be candidates for Innovation Ambassadors.The ultimate goal of this program is to reward exceptional teams, promote a culture of innovation, and boost our company’s efficiency through the sharing of the best practices.

This year’s submissions included 97 proposals from 24 entities across BNP Paribas Cardif. Many of the initiatives focused on two main themes:  

  • Artificial Intelligence

Showing the value that AI creates for partners, customers, and collaborators by optimizing processes & distribution, personalizing and improving customer satisfaction, ensuring better brand protection, and more…

  • Impact

Providing offers dedicated to underserved populations (due to age or medical condition), increasing value and ease-of-use of products and services in order to make insurance more accessible. 

The grand jury, composed of Stanislas Chevalet (Deputy CEO, Transformation & Development), Carine Lauru (Chief Communication officer), Nathalie Dore (Chief Impact and Innovation officer) and Vivien Berbigier (Chief Value Proposition Officer), chose 11 outstanding initiatives as the Innovation Ambassadors 2024.

The initiatives selected are from all our countries, clearly showing that innovation can be found everywhere at BNP Paribas Cardif. Stay tuned for profiles of each of our 11 Innovation Ambassador initiatives on our website and on BNP Paribas Cardif social networks in the coming months.

BNP Paribas Cardif has once again demonstrated its commitment to innovation by participating in the 8th edition of VivaTech, one of the largest European event dedicated to technology and innovation. The 2024 edition of VivaTech, which took place from May 22 to 25 at Paris Expo Porte de Versailles, had as its main theme artificial intelligence (AI), a technology at the heart of the current transformations in various sectors, including insurance.

Watch the video highlights of this 2024 edition of VivaTech!

Big presence with key interventions 
 

Among the highlights of the event was the intervention of Michael de Toldi, Chief Analytics Officer at BNP Paribas Cardif, who participated at BNP Paribas’ live stream dedicated to “Artificial Intelligence”. His pitch highlighted BNP Paribas Cardif‘s latest advances in AI and how these innovations are helping to improve the services offered to partners and customers.

The Cardif Lab’: at the heart of innovation

The “Floor Tour” organised by the Cardif Lab’ allowed our partners, members of the Executive Committee and even the general public to discover innovative start-ups at the cutting edge of technology in their various sectors. Promising startups discovered during this round include Aqemia, which specializes in AI drug discovery, Citadel AI, which develops AI-based security solutions, Petnow, an app dedicated to pet recognition, and Mob-Energy, which offers innovative solutions for electric vehicle charging.

By participating in VivaTech 2024, BNP Paribas Cardif is reaffirming its role as an innovative insurer and its desire to remain at the forefront of advances, particularly in the field of artificial intelligence. This active presence is a testament to the company’s commitment to transforming the insurance industry to better meet the expectations of its partners and their customers in an ever-changing world.

BNP Paribas Cardif is simplifying claims management with automation by shortening its processing time and thus providing better and quicker service to our customers and partners.

Judith Will, Corporate Analytics Manager at BNP Paribas Cardif, briefly introducing us to automation.

Check the full interview: 

What is automation, and how is it implemented at BNP Paribas Cardif?

At BNP Paribas Cardif, automation is not an end in itself, but a means in a much bigger picture: the redesigning of processes. When looking at a specific process within the customer or partner journey for example, we first need to take a step back and define the objectives we aim to achieve. It could be speed, efficiency, accuracy, seamlessness… Once the target is set, we can assemble the necessary pieces: this is where automation comes into play. Our teams determine the level of automation desired, aligned with the identified needs, and we leverage the appropriate assets across AI, parametric, digital, data, etc. 

How can automation improve customer experience?

Redesigning processes and leveraging automation has significant potential for our customers: for example, in Germany our local teams have leveraged automation processes to create a transparent claim process. This thanks to automated and immediate notifications informing policyholders about their claim status, without any human interference. This has contributed to enhance their digital experience as well as their satisfaction. It is key to add that, for BNP Paribas Cardif, automation isn’t and end in itself and is therefore always combined with human expertise.

Can automation bring more value to our distribution partners?

Indeed! Shortening claims processing time makes a real difference for partners. Automation, when well implemented, can have a lot of impact on their customer’s experience and satisfaction, therefore contributing to their brand recognition. To mention only one example, in Chile, we have been implementing automation solutions based on artificial intelligence for a while, for 2 partners in particular: Scotiabank and Caja Los Andes. This enabled their customers to benefit from an impressive reduction of claims processing time: from 10 days and 7 days before, to just 10 minutes! These good results also help our partners improve their customers’ loyalty.

One last word?

I’d say that automation isn’t just good for our clients and partners, but also for us as employees! It can increase speed and efficiency and free up time. Time we can spend to develop business, to focus on high added value tasks, and to develop our skills even further!

To find out more, check out our 2023 Business Report

Founded in 2019, Qoala is a multiline insurance distribution platform for agents in Indonesia & Thailand with a growing presence in Malaysia and Vietnam.

Tommy Martin (Co-Founder / COO) & Harshet Lunani (Founder / CEO)

Through its easy-to-use app, Qoala provides clients with access to gadgets, car, motorcycle, health, life, travel, and even tropical disease insurances. Thanks to partnership with insurers, Qoala offers competitive deals and discounts to clients as well as reactive multichannel customer services. Qoala relies on a network of over 60k agents that sold over 170 million policies since its inception. More recently it has also forayed into B2B2C Partnerships with digital partners and online marketplaces, now having over 60 partners. 

Despite being the fourth most populous country in the world, Indonesia has a relatively low insurance penetration rate. Qoala has been increasingly contributing to increasing insurance coverage in Indonesia and has processed over 115k claims in 2023 and has reached 9 million customers since inception. Qoala has been positioning itself as the solution of choice for both consumer-facing platforms and traditional agents and thus Qoala has been providing consumers across Southeast Asia with much-needed tools to address the persistent protection gap.

Since its Series B fundraise in 2022, Qoala has recorded a 2.5x growth in gross written premiums and currently processes up to 60% of total claims in-house, while delivering market-leading customer satisfaction. Notably, the impressive growth is predominantly attributed to their diversified partnership channels, which saw a significant expansion in business partners. The company’s profitability metrics have continued to trend upwards, outpacing GWP’s growth, highlighting its commitment to sustainable financial performance.

Within just four years, Qoala has demonstrably improved insurance accessibility. Its diverse product portfolio and motivated 60,000+ marketers network further contribute to safeguarding its customers’ financial well-being. Through nationwide presence and impactful initiatives, the platform simplifies insurance and empowers individuals, making a significant societal impact. The InsurTech’s emphasis on financial inclusion was recognised by CB Insights in 2023, when Qoala was named to its Fintech 100 and InsurTech 50 global list. The company’s mission of improving lives has gone beyond product innovation and distribution to being a strong advocate of financial literacy across various offline and online platforms.

BNP Paribas Cardif has been supporting Qoala since its Series B fundraising at the end of 2022 and continues through its C. Development fund along with Eurazeo in the recent Series C funding of Qoala whereby it raised US$47 million in March 2024. The Series C funding enables the company to expand its embedded insurance business (B2B2C) across Southeast Asia. The investment will also empower Qoala to intensify its tech-driven initiatives, seamlessly integrate artificial intelligence across all channels, and elevate the experience of customers, agents, and partners. Further, Qoala will leverage the funds to explore new products and channels for its agent platform, while accelerating growth by exploring strategic acquisitions and partnerships across all verticals. This multi-faceted approach is expected to strengthen Qoala’s leading market position in the region.

Post the closure of the fundraise, Harshet Lunani, Founder and CEO of Qoala said:

This investment will enable Qoala to refine and expand its established InsurTech platform, ensuring it remains at the forefront of technology and reduces time-to-market. Moreover, Qoala is dedicated to developing tools that support its insurance partners in improving their capabilities in underwriting, claims processing, and fraud detection, reinforcing its commitment to innovation and excellence in the industry. With the latest investment, Qoala’s total capital raised to date surpasses $130 million. Besides Payal Ventures & MUFG who came in the Series C round, Qoala has an impressive list of existing investors, including Peak XV Partners (formerly Sequoia Capital India), Kookmin Bank Investment, MDI Ventures, SeedPlus, Daiwa Capital, Indogen Capital, Mandiri Capital, and Salt Ventures.

BNP Paribas Cardif is proud to continue our support for Qoala as they continue to redefine industry standards and promote financial inclusion in the region.

In 2023, 84 projects from 24 entities around the world, shows  that innovation can be found everywhere at BNP Paribas Cardif! Learn more about how BNP Paribas Cardif Korea has created the Innovative CPI (Credit Protection Insurance) model with IRS (Insurance Risk Score) system allowing the empowerment of customer’s credit health.

Introduce yourself briefly: country, division, main tasks, personal interests outside the company (e.g., leisure and hobbies)

I’m Ja kyoung KIM from South Korea serving in the Product development division at BNP Paribas Cardif Korea. My primary role involved planning products that consider not only customer needs but also the company’s direction, and managing the product development process, including product launches.

Outside of work, I find motivation in challenging myself to learn new things and gain fresh experiences every year. Last year, I learned to play tennis, discovering its difficulties mastering various techniques. This year, I’m taking my time to decide on the next challenge but planning to begin soon.

Tell us about your project: its main focus, what is about, how it came about, and what it will bring to BNP Paribas Cardif.

We develop the new CPI model with an index called IRS (Insurance Risk Score), that segments mortality risk according to personal credit information and build a premium discount structure based on the index. 

The higher IRS is, the better the customer’s credit status is. 

This product empowers customers to improve their credit health and earn premium discounts, extending the original value of CPI. This first-of-its-kind product in Korea goes beyond traditional health-related factors, leveraging personal credit information to offer premium discounts. This unique approach earned recognition for its originality from Korean Life Insurance Association. Since its launch, IRS based CPI sales have been leading the growth of our CPI business, showcasing its customer appeal. 

We also implement Credit Care Program that helps customers with their credit management needs by aligning with this new CPI model with IRS. This program offers educational resources and CSR initiatives to promote responsible credit management, particularly for financially vulnerable groups.

The new CPI model with IRS integrates credit management support, fostering a virtuous cycle that benefits our company, the industry, and society. This initiative is expected to differentiate our CPI in the market., enhance insurance risk management through big data, and contribute to a healthier credit management environment within society.

What did you find most striking/surprising during this project (perhaps you have an anecdote to tell us)?

The power of continuous innovation efforts became incredibly clear to me during this project. The previous Health Age project, the first product to adjust risk based on individual health data, served as a valuable stepping stone for this CPI model with IRS. Introducing the concept of utilizing big data with a product, we considered advanced products that can provide practical benefits to customers by applying more diversified methodology in product development and we finally develop new CPI model with IRS system more optimized to CPI intrinsic value. Moreover, Health Age project required extensive resources and communication due to its pioneering nature. However, this experience allowed us to establish smooth communication, leading to a much smoother launch for this CPI model. This highlights the importance of collaboration and continuous effort in driving innovation and ensuring a company’s long-term success.

What advice would you give to employees who also want to innovate?

In my view, I have 2 key suggestions to offer.

Firstly, it’s essential for everyone to collaborate towards a shared goal for innovation to thrive. Given the diversity of knowledge and experience among team members, differing opinions are inevitable, but ultimately, the best solutions can be achieved by working together towards a shared objective. 

Secondly, I recommend acknowledging and celebrating small success throughout a project’s journey, while also fostering a culture of encouragement. These little wins add up to big successes, and expressing gratitude for colleague’s efforts and celebrating these achievements can greatly enhance teamwork, which is crucial for reaching our goals together. 

Hear from the team members of this project: 

 “Winning ‘Innovation Ambassador’ with IRS CPI is just the beginning of our journey and we will continue to do our best to the pursuit of customer-centric solution.”

Jeong Hwan LEE

“We’re honored to receive the ‘Innovation Ambassador’ award for IRS CPI, which bridges the gap between insurance and responsible credit management.”

Eun Sil PARK

“Innovation is not a destination; it’s a journey, and we’re proud to be pioneers on that path with products like IRS CPI.”

Min Woo LEE

“Innovation isn’t just a buzzword for us; it’s a driving force behind every product we create, and IRS CPI is a prime example of our innovative spirit. And, thanks to everyone involved for making this possible!”

Ja Kyoung KIM