Joint mortgages are becoming an increasingly popular route to home ownership in Japan, but they expose couples to a structural gap: traditional mortgage CPI (Creditor Protection Insurance) typically protects only one borrower, leaving the other party’s repayments at risk if life takes an unexpected turn.

Shoichiro Fukushima, Group Leader of Promotion Planning in the Mortgage Loan Business Development Department at, Mortgage Loan business Unit at PayPay Bank, and Yasuko Yokoyama, Chief Manager in Strategic Partnership for BNP Paribas Cardif in Japan, look back on how they joined forces to fill this gap and provided PayPay Bank a highly successful entry into the very competitive Japanese mortgage market.

As a digital bank expanding into mortgages, why did you need to gain a strong foothold in this segment?

Shoichiro Fukushima (PayPay Bank) : PayPay Bank entered the mortgage market as a latecomer, so we knew that simple matching the competition or competing on price would not be enough. We needed a strong, differentiated positioning, and we believed, the most effective way to achieve this was to address the emerging social realities directly. That is why we were keen to work with BNP Paribas Cardif in Japan on the industry’s first(*). Joint Mortgage CPI, bringing a new and meaningful value proposition to mortgage customers.

What were the social issues you identified and how did it translate into a mortgage-related offer?

Shoichiro Fukushima : We observed a steady rise in joint mortgages, driven by increasing property prices and growing number of dual-income households. Yet conventional mortgage CPI typically covers only the insured borrower’s share of loan. If a serious illness such as cancer or others occurs during the repayment period, the other party’s repayments can also become difficult. We felt it was essential to provide protection to people to reduce this shared risk. The idea also came from the front line: our sales teams raised the question, whether such a product could be created, based on what they were hearing from customers.

What is joint mortgage CPI, and what makes it a first in Japan?

Yasuko Yokoyama (BNP Paribas Cardif in Japan) : A joint mortgage is a borrowing arrangement in which two or more people – typically a married couple – each take out a mortgage loan for the same property and act as joint guarantors for each other. In Japan, this structure is commonly known as a “Pair Loan”. With conventional CPI, only the insured person’s portion of loan is covered, leaving the other party’s debt unprotected. Joint mortgage CPI is the first product in Japan designed so that, if one borrower is affected by an unexpected event, the outstanding balance of both borrowers is covered together.

How does the product work in real-life scenarios for couples?

Yasuko Yokoyama :The coverage is designed to respond to a wide range of life-altering situations. If one partner dies, is diagnosed with a prescribed severe disability, or with cancer, the total outstanding balance for both parties can be reduced to zero. If a borrower is hospitalized on a repayment date due to illness or injury, the monthly repayment for both parties is covered. And if hospitalization continues for more than 12 months, the full remaining balance for both parties can also be reduced to zero.

What did each partner bring to make this possible?

Shoichiro Fukushima : We contributed the product concept, based on what we observed in the market and our understanding of the social issues our customers face. We know our customers well and we listen closely to their needs. As a digital bank, we are constantly looking for new ways to identify and address the existing gaps.

Yasuko Yokoyama : BNP Paribas Cardif in Japan with its expertise contributed in rapid co-development and in reducing the administrative burden on CPI through customized operational schemes, including responding to inquiries at call centers on weekends and direct customer response when accepting claims. We also designed a fast underwriting process supported by an automated engine, with strong focus on providing prompt and accurate responses to inquiries and consultations from the partner bank.

What early signals suggest the product is gaining traction, and what comes next?

Shoichiro Fukushima : PayPay Bank was the first in the industry to introduce joint mortgage CPI which quickly helped establish it as a reference point in this area. Since launch, the utilization rate of our joint mortgages increased by 10%, contributing directly to improved profitability. Looking ahead, with property prices continuing to rise and more young customers relying on joint mortgages, we plan to keep co-developing products that meet their evolving needs.

Yasuko Yokoyama : On our side, we are already exploring further co-development opportunities, with a clear focus on making insurance more accessible. We also place greater emphasis on stimulating CPI needs, and to continue delivering new and innovative products and solutions to support PayPay Bank’s mortgage growth.

(*) Based on research by PayPay Bank (as of March 2024)

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The Innovation Ambassadors program, which includes 5 winners among 102 innovative projects submitted from 24 entities worldwide in 2025, shows that innovation can be found everywhere at
BNP Paribas Cardif! 

Briefly introduce yourself

Stéphane
Indicar was born from a simple observation: there is an expertise imbalance between professional sellers and private buyers of used vehicles. Our goal is to democratize access to technical data, such as reliability, parts prices, and risk of damages, to make private purchases safer.

Charles
Today, Indicar comes in several technical solutions for our partners, including a widget and an API. The widget integrates very quickly, in just a few hours. And the API version allows our partners to maintain control over their editorial line. Indicar is also an online demonstrator designed as a sales support tool for Icare’s sales team and our prospects.

How does your initiative correspond to the category won? 

Stéphane
From the beginning, we involved the client in our process. We built Indicar in 3 key steps:

• Step 1 : After a 2-week Design Sprint, we presented mock-ups to about ten passersby on the street to validate our ideas.
• Step 2 : We created a mini-site that attracted over 4,000 visitors to test user interest and gather feedback. The conversion rate was very high, allowing us to get an internal GO to continue.

Charles

• Step 3 : We created an MVP developed in agile mode. This incubation stage at Bivwak was very intense. Every two weeks, we organized presentations for internal and external partners to share the progress of the developments, gather their feedback, and integrate their requests into the solution. This allowed us to quickly create concrete use cases, aligned with their needs.

We owe Indicar’s success to cross-functional collaboration between Icare’s Data, Marketing, and Operations teams and to the methodological expertise of the Cardif Lab team.
In summary, Indicar embodies the spirit of innovation driven by the client and the partner.

What are the next steps for your initiative? 

Stéphane
After being the first widget integrated on Cardif’s API Store, Indicar’s API is now live with a partner in Portugal and we are in discussions to extend it to other partners and other regions

Charles
On the development side, we continue to refine the tool based on field feedback, to maximize its impact and adoption.

What are your tips for innovating at BNP Paribas Cardif? 

Stéphane
My advice?
Find a concrete problem to solve for your clients, your partners, or your colleagues. Start small and quickly to validate your hypotheses where to focus, and find an internal sponsor who believes in your initiative.

Charles
For me, innovation at BNP and Icare goes through the involvement of all professions. It is necessary to share as much information as possible, involve as many people as possible to bring out ideas, and above all, exchange a lot. Feedback from partners and other departments brings perspectives that we do not always have internally. Sharing and collaboration are key!

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The Innovation Ambassadors program, which includes 5 winners among 102 innovative projects submitted from 24 entities worldwide in 2025, shows that innovation can be found everywhere at
BNP Paribas Cardif!

Briefly introduce yourself

Hello, we are Matías González and Jaime Ahumada from Chile, and we are part of the CarBoosting team, a project recognized through the Innovation Ambassadors program at BNP Paribas Cardif.

We are passionate about innovation and collaboration as key drivers to improve customer experience and create real value for the company. Our work sits at the intersection of data, technology, and business, where we focus on solving complex challenges through teamwork and analytical thinking.

Being part of CarBoosting has allowed us to combine structure with creativity, always keeping the customer at the center of our decisions. We strongly believe that innovation happens when diverse perspectives come together around a shared purpose.

Present your initiative 

CarBoosting is an AI-driven initiative designed to improve car insurance pricing in Chile, with the aim of making insurance more accessible, fair, and customer-centric.

The project emerged from a business need to identify pricing inefficiencies using data. By combining business knowledge, advanced analytics, and strong cross-functional collaboration, the team developed a model that rebalances premiums more equitably—reducing costs for overpaying customers while adjusting prices for those below the portfolio average.

This collaborative approach enabled a fast transition from concept to implementation.

For BNP Paribas Cardif, CarBoosting delivers a more competitive pricing strategy, stronger risk management, and a scalable solution that can be adapted to other markets and partners.

How does your initiative correspond to the category won?

CarBoosting perfectly reflects the Leading Innovation in AI category. It showcases how AI can be applied not only to optimize performance, but also to promote fairness, transparency, and customer value. What makes this project particularly distinctive is its scalability and adaptability.

The solution is designed to evolve and be deployed in other partners, making it a long term strategic asset. More importantly, it demonstrates how AI can be used responsibly to support both business objectives and customer trust.

What are the next steps for your initiative?

Looking ahead, our next step is to scale CarBoosting to other partners in Chile and explore its use in other markets across the region. At the same time, we are continuing to enhance the model by incorporating new data sources and improving its performance.

From the auto insurance perspective, our ambition is to ensure that the initiative remains relevant, impactful, and future ready.

What are your tips for innovating at BNP Paribas Cardif? 

Be open to new ideas and perspectives, and don’t be afraid to experiment.

True innovation happens through collaboration across teams, always keeping the customer at the center.

Our new video series, Inside The Action, shines a spotlight on key initiatives led by BNP Paribas Cardif employees in France and internationally.

We give a voice to those who embody the values of commitment and innovation in their daily work at BNP Paribas Cardif. Each episode delves into the heart of these collective achievements and highlights those who actively contribute to the company’s ongoing transformation.

In this new episode of Inside the Action, Shiketsu Gi, Product Manager at BNP Paribas Cardif in Japan, introduces the rollout of an unprecedented mental health coverage for borrowers in Japan.

According to a Japanese study conducted in 2020, 40% of work absences among young professionals have been linked to psychological disorders, our teams have developed a tailored protection solution to address these emerging societal challenges.

Shiketsu Gi’s testimony highlights BNP Paribas Cardif’s commitment to making insurance more human-centered and accessible to all.

With more than 1,800 integrated retail and banking stores and 9 million personal loans issued each year, the Mexican retailer Coppel serves a broad, often underserved, modest-income customer base across Mexico. Any embedded protection offer must therefore be both trustworthy for customers and robust enough to operate smoothly at very high volumes.

Javier Tagle Hernandez and Felipe Vila (respectively Corporate Director of Business Banking at BanCoppel and Head of Insurance at Coppel), and Olivier Calandreau, CEO, of BNP Paribas Cardif in Mexico explain how they co-developed an embedded creditor protection insurance (CPI) offer shaped by customer expectations of simplicity, transparency and support when something happens. They also share how delivering on that promise required a high-performing operating and technology backbone, validated through a pilot phase before being rolled out at scale.

Q1. What made CPI particularly necessary for your customers?

Javier Tagle Hernandez (Coppel): We are very close to our customers. They visit our stores every week. We serve hard-working families, often with diverse income streams that depend on day-to-day activity. When something unexpected happens, such as an illness, an accident, the loss of the household’s main provider, the impact is immediate. Our customers therefore need loan protection that is easy to understand, and in case of a claim, gives them confidence that they will be guided and supported.

Q2. Why is trust so central to Coppel?

Felipe Vila (Coppel): Coppel has built trust over decades. Customers rely on us because they know that if we offer a product, we will support them and not leave them on their own. Insurance is no different: they expect the same Coppel experience at every touchpoint, and they expect the promise to be fulfilled when it matters most.

Q3. How did you work together to design this offer?

Felipe Vila: We started with a genuine listening exercise including customer focus groups, benchmarking and in-depth customer analysis- BNP Paribas Cardif went on that journey with us. We then built the offer around customer needs. But the product is only the starting point: the real challenge is to deliver on the promise across the entire journey, including questions, complaints and claims, in a way that fits how customers actually interact with Coppel.

Olivier Calandreau (BNP Paribas Cardif in Mexico): Everything started with the customer and the loan. With modest and often irregular income – including many self-employed people – eligibility and coverage must avoid leaving parts of the customer base uncovered. That’s why we also designed benefits beyond covering the outstanding balance, because in this segment there is often no safety net if income suddenly stops.

Q4. What did co-creation mean in practice?

Olivier Calandreau: Co-creation only works if it responds to both customer and partner needs. Coppel’s “Mejora tu vida” (improve your life) motto reflects a broader ambition around financial inclusion that resonates closely with BNP Paribas Cardif’s mission. We believe protection can make that promise more tangible by preserving stability and peace of mind for families when life shocks occur.

Javier Tagle Hernandez: For us, co-creation starts with the partner. BNP Paribas Cardif has been working with us for a long time – they visit our stores, and they understand our customers. This was not an off-the-shelf offer. They went deeper to build something our customers can afford, with simplicity embedded throughout the process.

Q5. Where did you “go the extra mile” in the offer design?

Felipe Vila: Many CPI products are primarily designed to protect the lender. In this case, we designed a proposition that also delivers direct value to the customers, with life benefit paid to the families and coverage designed to help them “land on their feet” when hardship occurs.

Olivier Calandreau: We included income-disruption scenarios, with partial payments in cases of unemployment or temporary disability to secure the loan while also supporting the family. We also added complementary services during unemployment, such as discounts and mental health assistance, recognizing how challenging that period can be.

Q6. What did you have to build technically to make it work at Coppel’s scale?

Olivier Calandreau: BNP Paribas Cardif is upgrading its core IT capacities through a new digital program and Mexico is one the pioneers in the LATAM region. With 9 million new personal loans issued each year, we needed a platform that is robust, fast, and secure, with tight system integration. API-based connectivity allows us to monitor activity daily, down to store level, and significantly improves risk monitoring.

Felipe Vila: The “magic” happens behind the scenes. Claims and services require deep data integration between Coppel and BNP Paribas Cardif. The way our system connects enables a better customer experience when it matters the most, with faster response times and smoother support.

Q7. What are the first signals from the pilot?

Felipe Vila: The pilot helped validate customer experience and identify process adjustments, as integration at this scale is complex. We are now preparing to expand the solution to more stores to continue testing the post-sales and, as claims volumes grow, to assess the claims journey more extensively. Early indicators are encouraging: there have been no complaints so far, and adoption by advisors – our first internal users – has been strong once they understood the proposition and how it supports their daily conversations with customers.

Q8. What comes next for the partnership?

Olivier Calandreau: This is only the beginning. The platform is modular, designed to accelerate the development of more products faster, with a strong focus on security and the protection of customer data as cyber risks continue to grow. We also plan to progressively extend coverage, moving from the initial retail scope to a broader perimeter, while continuing to enhance the customer journey.

Javier Tagle Hernandez: We expect the collaboration to further deepen. The BNP Paribas Cardif team is helping us better understand our clients and the most effective way to give them access to protection that truly fits their needs.

Felipe Vila: We have been partners for several years. But we are no longer just selling a product. We are building an experience around the customer journey – and that is how you build trust in insurance and long-term loyalty to the brand.

The Innovation Ambassadors program, which includes 5 winners among 102 innovative projects submitted from 24 entities worldwide in 2025, shows that innovation can be found everywhere at
BNP Paribas Cardif! 

Briefly introduce yourself

I work closely with many internal stakeholders, including the Actuarial team, the Impact and Innovation Department, the operational teams (Subscription, Claims), the team of medical consultants, legal affairs, marketing, communications, etc. And with external medical experts, such as Professor Caroline Charlier-Woerther, whose clinical expertise provides an essential contribution to our analyses.

Driven by the conviction that insurance should support people’s lives without creating unjustified obstacles, I am committed every day to helping our practices evolve towards greater inclusion, simplicity and protection. Outside work, I’m particularly interested in medical advances and healthcare innovations, passions that feed directly into my job.

Other contributors to the project: 

• Actuarial Department: David Antonnetti / Myriam Jlidi / Mathieu Jourdain / Sigrid Motillon
• Impact and Innovation Department: Céline Scazzola
• Medical expert: Professor Caroline Charlier-Woerther

Could you please introduce your initiative?

HIV currently affects approximately 200,000 people in France. Thanks to modern antiretroviral treatments, 93% of those who receive them achieve an undetectable viral load, are no longer contagious and can lead a completely normal life. However, despite these major medical advances, access to credit and loan insurance remains a challenge for many people living with HIV.

Our initiative was born out of this realisation, that the way in which risk was assessed for these customers needed to be thoroughly re-examined. The objective was clear: to incorporate the latest medical data to make insurance more accessible, fairer and better adapted to today’s reality.

The project brought together a multi-disciplinary team, including actuaries, medical experts, the impact team, and, most importantly, Professor Caroline Charlier-Woerther, whose expertise provided us with a real-time clinical understanding of treatments and their efficacy.

As a result of this work, people living with HIV who have an undetectable viral load at the time of subscription can now take out loan insurance with no additional premiums or exclusions, up to a maximum of 1 million euros.

This advance goes beyond the criteria of the AERAS agreement for people with increased health risks: we are simplifying the risk assessment rule by retaining a single criterion, namely the undetectable viral load, whereas previously several conditions had to be met.

This initiative is a major development in our accessibility policy, perfectly aligned with BNP Paribas Cardif’s commitment, adopted over 15 years ago, to offer more inclusive, simpler and more comprehensive insurance.

Innovative features:
In line with the advances already made in other pathologies, BNP Paribas Cardif has drawn on the recognised expertise of Professor Caroline Charlier-Woerther to develop an innovative risk assessment.

Innovation n°1: Benefit from the real-time expertise of a specialist in the pathology.

Input from Professor Caroline Charlier-Woerther enabled us to incorporate real-time clinical environment data, and in particular the effectiveness of new treatments resulting from recent advances in medicine.

This information is invaluable and complements the statistical studies carried out over several years.

Innovation n°2: Simplify the risk assessment rule

However, risk assessment must take several parameters into account, as set out in the AERAS agreement (which defines rights to insurance and borrowing for persons with an increased health risk). These include the following:

• An undetectable viral load one year after the start of treatment;
• A CD4 count* ≥ 500/mm3 and an undetectable viral load in the last 12 months prior to subscription;
• A period of maximum 35 years between the start of treatment and the end of the loan insurance contract;
• A maximum loan coverage period of 25 years.

BNP Paribas Cardif has simplified its eligibility criteria. People living with HIV can now borrow for their projects and gain wider access to loan insurance without any additional premiums or exclusions. The only requirement is an undetectable viral load at the time of subscription for loans of up to 1 million euros.

*T4 (or CD4) cells are the cells targeted by HIV. Normally, their number varies between 500 and 1,500/mm3. When this number drops significantly, the patient suffers from immune deficiency. HIV penetrates CD4 cells and disrupts their function. CD4 (or T4) cells | Sida Info Plus

How does your initiative correspond to the category you won: inclusion and accessibility ?

Our initiative fits perfectly into the category that recognises projects promoting inclusion and accessibility. At BNP Paribas Cardif, we are committed to ensuring that everyone has access to the loan insurance best suited to their situation: when someone is rejected for insurance, it often means their financing is also rejected, and they are therefore unable to carry out personal and professional projects.

Thanks to our new approach, 9 out of 10 people living with HIV now have access to loan insurance without additional premiums or exclusions, which represents significant progress. This approach means they are better protected and can take on real estate, professional or personal projects under better conditions.

The long-term objective is to achieve a standard underwriting rate of over 95% for customers with no other comorbidities, compared with less than 5% previously.

By having a direct and measurable impact on the lives of policyholders, simplifying the eligibility criteria and striving to exceed the standards of the AERAS agreement, this initiative perfectly embodies the purpose of the category in which we won, namely to offer more inclusive, fairer and more innovative insurance.

What are the next steps for your initiative?

Launch in a new country or market if relevant / Further development or improvements / Partnerships.
This development is part of a wider initiative initiated by BNP Paribas Cardif over 15 years ago to improve access to loan insurance for vulnerable people.

The next step will be to extend this approach to other pathologies that are currently subject to complex or penalising eligibility criteria, in particular certain rare diseases, once again by relying on partnerships with recognised medical experts and researchers.

We are also looking into possibly extending the system to other countries. For example, we have just rolled out this new pricing system in Belgium.

Our ambition remains the same: to continue simplifying our insurance and making it more inclusive, to enable a growing number of people to realise their personal or professional projects.

What are your tips for innovating at BNP Paribas Cardif?

Keep up with developments, set no limits, rely on collective expertise, question you practices and constantly keep up to date with medical developments, customers’ expectations and ideas from the field.

It is by combining these different factors that we can create the most inclusive and appropriate solutions for our customers.

• Pre-tax net profit of 1.96 billion euros for full-year 2025, up 24% over 2024
• 40.5 billion euros in gross written premiums at end-2025, up 12% compared to 2024
• 302 billion euros in assets under management, up 6% compared to 2024
• 54% of gross written premiums with partners and networks outside the BNP Paribas Group
• Nearly 80 partnerships renewed or signed in 2025
• 52% of gross written premiums outside of France

BNP Paribas Cardif reported pre-tax net profit of 1.96 billion euros in 2025, an increase of 24% compared to 2024. This performance was driven by the insurer’s dynamic partnership model, the successful integration of recent acquisitions in France and Italy and exceptional items linked in particular to revaluation of equity investments.

Gross written premiums for the BNP Paribas Group’s Insurance Business Line reached 40.5 billion euros, an increase of 12% compared to 2024. BNP Paribas Cardif’s business is driven by dynamic performance across the BNP Paribas Group’s Retail Banking network and by a unique partnership model that enables it to generate 54% of its gross written premiums with partners and networks outside the BNP Paribas Group. Nearly
80 partnerships were renewed or signed in 2025, testifying to the confidence partners have in BNP Paribas Cardif’s capacity to support the goals of their customers. These new agreements include a partnership in France with Stellantis Financial Services in the used car business, consolidating the leading position of Icare, BNP Paribas Cardif subsidiary specialized in extended warranties and maintenance for motor vehicles.

Deployed in 30 countries this model enabled BNP Paribas Cardif to generate 52% of its gross written premiums outside of France in 2025, consolidating growth thanks to new strategic alliances.

Continued growth in savings

Savings assets under management totalled 302 billion euros at the end of 2025 (+6% compared to end 2024). Gross inflows in savings worldwide amounted to 32.4 billion euros at the end of 2025, (+15% compared to end 2024), with 37% in unit-linked products. In France, savings inflows increased 3% comported to 2024, reaching 17.4 billion euros. This increase came in particular from retail banking networks of the BNP Paribas Group, as well as business through wealth management advisors and brokers, and from the integration of Neuflize Vie. Outside France, gross savings inflows were 14.9 billion euros, an increase of 32% over 2024. The acquisitions of Neuflize Vie and BCC Vita enabled BNP Paribas Cardif to consolidate its leadership in savings by taking advantage of new distribution channels.

BNP Paribas Cardif, a major player in life insurance vehicles in France, and maintains the remuneration rate for its life insurance and capitalisation contracts in 2025 with an average rate of 2.92%. Thanks to substantial reserves and diversified allocation of assets, the insurer confirmed the solidity of its euro fund. Once again, this year, reflecting an equitable approach and supported by a unified rate policy, clients will benefit from a net rate¹ excluding bonuses of at least 2,75%² for 97% of its contracts³, regardless of when the product was subscribed and the distribution channel. BNP Paribas Cardif also strengthened its partnership with BNP Paribas Asset Management, the European leader in long-term asset management, delegating management of a portion of its general fund in France.

BNP Paribas Cardif has pursued its responsible investment policy, targeting both financial performance and positive impact on society in the management of savings entrusted to it by policyholders. At the end of 2025, 97% of the assets in the euro fund in France had undergone ESG⁴ analysis, and BNP Paribas Cardif had made 2.2 billion euros in positive impact investments, corresponding to an average of 2.1 billion euros per year since 2019. At 31 December 2025 nearly 25% of unit-linked assets were invested in responsible investment vehicles⁵. To support the transition to a low-carbon economy,
BNP Paribas Cardif has been committed since 2021 to reducing greenhouse gas emissions in its investment portfolios and to contributing to compliance with the Paris Agreement. The insurer strengthened its commitment in 2025, setting a target of reducing the carbon footprint⁶ of its directly held equity and corporate bond portfolio by 50% by 2030 (baseline 2020).

Strong positions in protection to make insurance more accessible

Protection gross written premiums reached 8.1 billion euros in 2025, an increase of 3% compared to 2024. Gross written premiums increased 3% in France to 2 billion euros at end 2025. Gross written premiums in international markets totalled 6.1 billion euros in 2025, an increase of 3% compared to 2024. In Latin America, gross written premiums were 1.8 billion euros, an increase of 3% compared to 2024. Gross written premiums in Asia totalled 1 billion euros, up 1% compared to 2024. In Europe (excluding France) and other countries, business posted a rise of 4% compared to 2024, reaching gross written premiums of 3.3 billion euros.

BNP Paribas Cardif is keenly aware of the importance of establishing relationships with partners and clients anchored in long-term confidence and has reaffirmed its commitment to make insurance more accessible. Faithful to this mission, the company works to ensure better insurance cover for its policyholders to protect them against unexpected life events while helping them realise their goals. By taking into account scientific and medical advances, the insurer continually adjusts its offers and subscription terms and has for more than 15 years regularly introduced concrete measures to facilitate access to creditor insurance. This approach expanded further in 2025 in France to include breast, prostate and testicular cancer survivors, who can now subscribe mortgage insurance without any additional premiums or exclusions, even before the legal period of five years established by the “right to be forgotten”.

Furthermore, BNP Paribas Personal Finance and BNP Paribas Cardif have introduced changes to creditor insurance linked to revolving credit offers available from BNP Paribas Personal Finance’s Cetelem brand, providing extended protection and more inclusive eligibility. Designed to address priorities expressed by people in France today, the policies offer broader, innovative coverage to reflect changes in society and demand for protection solutions. They include coverage of spouses without any additional fee, extended job loss coverage, new guarantees covering divorce or dissolution of civil partnerships, or family assistance if someone is obliged to stop working to care for a sick or disabled child or a dependent family member.

Technology and artificial intelligence help improve the customer experience

BNP Paribas Cardif has for many years introduced initiatives to improve the customer experience thanks to technology, while maintaining the highest standards to meet the growing expectations of its clientele. BNP Paribas Cardif remains more convinced than ever that the human dimension remains an essential pillar in the customer relationship. Recognizing the potential of artificial intelligence (AI), BNP Paribas Cardif deploys an international network of 140 experts who focus their efforts on developing and deploying innovative and secure solutions for the insurer’s partners, policyholders and employees.

By embedding technology and AI in the claims management procedure, for example,
BNP Paribas Cardif boosts the efficiency of claims processing. In France, the insurer has worked with Orange to introduce a solution for AI-based automated claims approval for 50% of claims involving breakage or oxidation of mobile devices. Another example is optimisation of the process for claims under the personal protection product “Solution Prévoyance” marketed via the BNP Paribas retail banking network in France. A digital platform available via mobile phone or the web has been rolled out and has cut claims processing time by 3/4. In Brazil, the claims management model combines digital efficiency and human support: 96% of claims are reported digitally and 90% are settled on the same day. Unemployment claims have recorded strong customer satisfaction, with a Net Promoter Score (NPSD) of 75.

BNP Paribas Cardif also introduces innovative solutions upstream from sales to deliver greater value to its customers. Developed for BNP Paribas Cardif’s partner Falabella – a major retailer in Chile – the CarBoosting tool uses AI to enable dynamic pricing for car insurance. This solution enables real-time review and adjustment of premiums to guarantee personalised rates for each customer.

¹Net of management fees before French social charges

²Plus entry bonuses

³For Cardif Assurance Vie entity

⁴Environmental, Social and Governance criteria

⁵A unit-linked asset is considered “responsible” if it has received a label from an independent organisation (for example SRI, GreenFin, FNG, Finansol, LuxFlag ESG, Towards Sustainability) or classified as Article 9 under the European Union’s Sustainable Finance Disclosure Regulation (SFDR).

⁶Carbon footprint in scope 1 and 2, excluding unit-linked funds. Objective dates: 12/31/2020 – 12/31/2029.

A World leader in creditor protection insurance, BNP Paribas Cardif has been committed for the past 15 years to an inclusive approach concerning its insurance offering. From product design to the continuous reassessment of accessibility criteria, Myriam Jlidi, Head of Actuarial Pricing Protection  Department at
BNP Paribas Cardif in looks back at the fundamentals of an approach driven by strong social and societal responsibility.

What is inclusive insurance?

It means being able to offer an insurance solution to as many people as possible. Beyond this definition, for us, inclusiveness is a comprehensive approach that considers a wide range of criteria, from product design to the customer journey in the event of a claim. One of the first criteria is, of course, price, since inclusiveness  means that our products must be affordable although this notion is highly relative.
 
We firmly believe that affordable insurance is an insurance that properly fits the real needs of policyholders and that is adjustable where necessary. We, therefore, regularly conduct surveys among different customer profiles to understand their main concerns as well as the barriers they may face when taking out a policy. We also develop educational tools to help our customers, understand the level of protection required to preserve their household’s financial balance in the event of life’s uncertainties, based on their personal circumstances.
 
We also favour “modular” insurance solutions, built around a core set of essential guarantees for example death cover to which additional, activatable and customisable coverages can be added by the clients depending on needs and budgetary constraints. This modularity enables us to be inclusive both in terms of cover (by offering appropriate protection tailored to risk profiles) and in terms of price (by avoiding unnecessary or superfluous options). It is essential to act on all these levers for the impact to be real and sustainable.
 
Beyond pricing, what other areas do you focus on to offer inclusive insurance?

We pay very close attention to the clarity of our products and the seamlessness of our customer journeys. We make sure that our offers are clear, transparent and understandable for all our customers. In practical terms, this means using accessible contractual language, being pedagogical about the exact scope of the guarantees and implementing streamlined processes both at the point of subscription and when managing claims. For example, at subscription stage, we offer simplified and personalised health questionnaires based on the guarantees taken out.

How has this ambition for inclusiveness changed your creditor insurance offering?

One of the main obstacles to access to creditor protection is the existence of aggravated health risks. We continuously adapt our pricing models, to take medical advances into account, and go beyond regulatory requirements whenever our financial balance allows us to do so. Medical research is progressing, and insurance must reflect these advances.

For example, in 2022 we revised our pricing criteria for chronic inflammatory bowel diseases (IBD)¹, which affect 700,000 people in France, considering new treatments that make it possible to stabilise the condition. Since this revision, the proportion of insured individuals with IBD who can benefit from standard coverage conditions has quadrupled, which represents a real and significant impact for our customers. Since then, two further initiatives to revise pricing conditions have followed, covering HIV in 2024 and breast, prostate and testicular cancers in 2025.

How do you bring together these two worlds, insurance and medical research, which at first glance seem very different?

We work in close collaboration with specialists in relevant pathologies. Their expertise enables us to reassess our risk evaluation criteria and translate medical advances into actuarial pricing rules. It was at a conference on developments in IBD treatments that we first contacted an expert professor to revisit our pricing approach.

After a year of working alongside him, we updated our conditions in favour of policyholders affected by this condition, by acting on two main levers. Firstly, a review and simplification of medical questionnaires to better assess risk while reducing the burden on customers. And secondly, a complete overhaul of our pricing combinations, taking into account the positive impact of new treatments.

Choosing inclusion also has a cost in terms of risk and financial stability for insurers. How do you manage this impact?

Indeed, undermining the financial balance of our portfolios would be counterproductive, which is why we have made a dual choice. First, to maintain the fundamental principle of risk pooling to offer affordable insurance to as many people as possible. Secondly and perhaps most importantly, we have established that this inclusive approach, particularly to aggravated health risks, must be partially borne by the insurer.

From an actuarial perspective, the real challenge is to achieve the most accurate possible assessment of the risk taken, to build reliable scenarios and strike the right balance between a tangible benefit for the customer and an insurance risk that remains under control.

What does this mean in practical terms?

It means accepting a sensible reduction of our margins, while remaining vigilant in preserving the financial balance of our portfolios to ensure the long-term viability of these initiatives. To achieve this, we carry out multiple simulations to anticipate both customer and financial impacts, followed by downstream monitoring of the expected improvements and their effect on claims experience and financial balance. This work is essential, as we never roll back a measure once it has been implemented.

Today, we can be proud of maintaining this balance while becoming always more inclusive. Our initiatives benefit all our customers within the framework of creditor protection, with no distinction between collective and individual products. This acceptance of reduced margins has, for example, enabled us to go further than the provisions of the AERAS² Convention for customers living with HIV or affected by cancer, by significantly easing the criteria for accessing borrower insurance without premium surcharges or exclusions.

For patients who have overcome breast cancer, 75% to 80% of them now benefit from standard pricing, compared with 50% before our criteria were revised. This represents savings of several thousand euros over the total duration of the policy. These very tangible results encourage us to continue building on this momentum and to make our insurance offering increasingly inclusive. This approach of continuous improvement is a source of pride for all our teams.

Discover how BNP Paribas Cardif facilitates access to creditor insurance for people who have overcome breast, prostate or testicular cancer.

^₁ Crohn’s disease (CD) and ulcerative colitis (UC)

² The AERAS Convention (Insuring and Borrowing with an Aggravated Health Risk) aims to facilitate access to insurance and borrowing for people who have, or have had, a health condition.

The Innovation Ambassadors program, which includes 5 winners among 102 innovative projects submitted from 24 entities worldwide in 2025, shows that innovation can be found everywhere at
BNP Paribas Cardif! 

My goal is to make sure that the product and its processes support the daily work of mortgage advisors. To do this, I work closely with colleagues from Sales, Legal, Compliance, and IT. I act as a link between the business, rules and regulations, and technology.

I am always looking for ways to improve the product and adjust it to the needs of customers and changes in the market. I also focus on using existing products and processes in a smart and efficient way. I see myself as a “spider in the web,” connecting people and ideas across the organization. On a personal level, i enjoy riding my gravel bike and making off-road day trips. It helps me relax and recharge.

Could you please introduce your initiative?

A Suretyship is an insurance service that works as a warranty and helps in the process of purchasing a home: at the time of sale, the seller requests from the buyer a penalty fee in case of future cancellation of the purchase. The buyer now can choose between:

• A deposit

or

• A Suretyship through a mortgage advisor 

Either option guarantees the financial penalty will be paid to the home seller, in case the transaction is cancelled by the home buyer due to financial reasons. 

We knew that in Belgium a 10% deposit is needed in the purchase process. And that it was common that buyers used their savings for the deposit. In case there were not enough savings they borrowed the deposit amount from friends or family. Or that they negotiate a lower deposit amount, which made their position as a potential buyer weaker and less interesting for the seller. With the Suretyship, the buyer can guarantee the 10% which gives them an advantage to buyers who must negotiate. And the buyer can use their savings for other things, such as kitchen or bathroom renovations. 

So, as buyers at the time did not have the opportunity to buy a Suretyship at all, or were even aware of the possibility, we checked what we had and what was possible and re-used our ‘Dutch’ Suretyship to launch this product in Belgium. This is fully in line with our mission to make insurance more accessible.

How does your initiative correspond to the category you won: Best Innovation Reuse?

Our initiative won the “Best Innovation Reuse” category of the Innovation Ambassadors because we re-used an existing BNP Paribas Cardif product in the Netherlands, adapting the processes and administrations system to introduce and sell our product in another country, Belgium.

Prospects were not familiar with the Suretyship in Belgium. A standard was that the buyer himself paid the deposit out of his own funds. With this insurance, we have a unique offer for the Belgian home buyer.

What are the next steps for your initiative? 

In the next steps, we will expand our broker partnerships in Belgium, expand our distribution channel with real estate brokers, and raise awareness among stakeholders like notaries.

What are your tips for innovating at BNP Paribas Cardif?

Innovation is exciting and gives energy. Use that energy to:

• Share your ideas. Test them inside and outside the company to see if they really help your target group. Clearly explain the value of your idea.
• Create support. Make sure others in the company understand and support your idea.
• Do good research. Talk to customers and check laws, rules, and market trends.
• Look beyond the usual way of working. Be open to new paths and solutions.
• Keep your end goal in mind. Stay focused and avoid distractions.
• Start small. Less is more. Celebrate small successes to keep people motivated.
• Keep the team small. Make sure everyone feels responsible for the project.
• Set a clear timeline. A clear time plan helps keep the team focused and involved.

Launching a product is only the first step. The experience you gain helps you improve the product and the process. Innovation never stops. Stay open to learning and change.

After fighting illness, you shouldn’t have to fight for your mortgage insurance.

People who have been affected by breast, prostate or testicular cancer can take out a loan insurance policy without additional premiums or exclusions, even before the legal period of 5 years set by the “right to be forgotten”.

BNP Paribas Cardif makes insurance more accessible

Creditor insurance guarantees the repayment of a loan in the event of death, disability, incapacity for work and/or loss of employment whether the loan is linked to a real estate project, or to a personal or professional project.
For many years, BNP Paribas Cardif’s priority has been to better cover its policyholders and protect them against life’s accidents while enabling them to carry out their real estate project.

Today, a person who has overcome breast, prostate or testicular cancer can benefit, as soon as active cancer treatment is over and in the absence of other pathologies, from a rate without additional premiums or exclusions, for loans up to 1 million euros. This approach applies to all creditor insurance contracts distributed in France.

Through this initiative, BNP Paribas Cardif is strengthening access to insurance for the most vulnerable people, and reaffirming its commitment to more accessible and inclusive insurance.

When medicine progresses, so do our insurance contracts.

BNP Paribas Cardif relies on scientific and medical advances and works every day to make insurance more accessible. We adapt our model and actively collaborate with the research community and medical experts to adjust our offers and underwriting conditions.

For more than 15 years, BNP Paribas Cardif has implemented concrete measures in France to facilitate access to creditor protection insurance, supported by scientific and medical advances. These initiatives already benefit people with asthma, Parkinson’s disease, gestational diabetes, paraplegia, tetraplegia or inflammatory bowel disease (IBD) such as Crohn’s disease or ulcerative colitis. Since December 2024, this facilitated access has also been extended to people on HIV treatment whose viral load is undetectable at the time of subscription

For more information on BNP Paribas Cardif’s creditor insurance, you can contact your BNP Paribas advisor, a broker, a wealth management advisor or visit the Cardif.fr website.

Read the press release : BNP Paribas Cardif facilitates property ownership for prostate, testicular or breast cancer survivors – BNP Paribas Cardif.

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