Insurer BNP Paribas Cardif and Volkswagen Financial Services have expanded their cooperation since 2001 with the signature of a worldwide partnership agreement. Volkswagen Financial Services offers now BNP Paribas Cardif insurance solutions to its clients in 16 countries.
A new stage in the development of an historical partnership
BNP Paribas Cardif has been working successfully with Volkswagen Financial Services since 2001. The initial partnership covering Germany offered protection to customers who financed vehicles acquisitions through loans or leasing agreements.
This cooperation between BNP Paribas Cardif and Volkswagen Financial Services, which already represents 2 million insurance policies1 has been expanded to 16 countries2, mainly in Europe and Latin America
Within this worldwide alliance, BNP Paribas Cardif and Volkswagen Financial Services will continue to offer financial solutions designed in particular to protect auto loans, leasing and personal loans.
A business model based on partnerships
BNP Paribas Cardif deploys a unique business model anchored in partnerships. The insurer distributes its products through some 500 partners in a variety of industries: banks and financial institutions, automakers, retailers, telecoms companies, as well as independent financial advisors and brokers.
"We are delighted to continue enriching our long-standing partnership with Volkswagen Financial Services. This strategic alliance will now cover 16 countries and focus in particular on digitization and on delivering an excellent customer experience, two priorities at the heart of BNP Paribas Cardif’s development plan," said Jean-Bertrand Laroche, Chief Operating Officer, International Markets, BNP Paribas Cardif.
About BNP Paribas Cardif
No. 1 worldwide in creditor insurance3, BNP Paribas Cardif plays an essential role in the lives of insured customers, providing them with savings and protection solutions that let them realize their goals while protecting themselves from unforeseen events.
In a world shaped by the emergence of new uses and lifestyles, the company, a subsidiary of BNP Paribas, has a unique business model anchored in partnerships. It co-creates solutions with almost 500 partners distributors in a variety of sectors (banks and financial institutions, automotive companies, retailers, telecommunications companies, energy companies, Independent Financial Advisors and brokers…) who then market the products to their customers.
BNP Paribas Cardif is a recognized global specialist in personal insurance, serving 100 million clients in 35 countries with strong positions in three regions – Europe, Asia and Latin America. BNP Paribas Cardif also plays a major role in providing financing for the economy.
With over 10,000 employees4 worldwide, BNP Paribas Cardif had gross written premiums of €27.1 billion in 2016, 57% of which was generated outside France.
1 Figures from June 2017
2 Germany, France, Italy, Spain, Brazil, Russia, Mexico, Poland, Czech Republic, Belgium, Portugal, Norway, Slovakia, South Korea, Sweden, Turkey
3 Source Finaccord
4 Headcount of legal entities managed by BNP Paribas Cardif: nearly 8,000 employees