Distributed by Assurancevie.com, Lucya Cardif confirms the dynamics of the online contract market. It is in fact the first offer developed by BNP Paribas Cardif, a major player in life insurance with assets of more than 140 billion euros. Reduced fees, wide range of units of account, bonus on payment, two euro funds… This is what the bancassurance company offers.
It was one of the last major insurers not to have invested in the web. BNP Paribas Cardif marketed its contracts via agencies (and the Hello bank online offer!), private banks, CGPs and brokers. But until now, his life insurance was not available from online distributors.
It was a channel that we had not addressed at the moment, confirms Delphine Mantz, director of CGP networks, broker and e-business. We were keen to continue our diversification. A new distribution which aims to be complementary and not competitive.
We have identified that the online market is growing. This corresponds to the need of a certain category of customers, who wish to be able to take out life insurance contracts directly online, underlines Delphine Mantz.
A contract accessible from 500 euros payment
But to attract younger and often well-informed investors, we had to adapt. The insurer has therefore partnered with the online broker Assurancevie.com. We had quite privileged exchanges, explains Delphine Mantz. When we started, this partnership was obvious. We shared the same vision of digital, of the product that these savers needed.
The two actors have therefore co-constructed an offer which aims to be rich and competitive: the Lucya Cardif contract. Competitive by using the classics of an internet contract: zero entry or arbitrage fees, low unit of account management fees (0.5%), accessibility from 500 euros…
And rich with a tense offer. Two euro funds are available: on the one hand, the immense general asset BNP Paribas Cardif, which delivered 2% last year, accessible 100% without conditions. On the other, Euro Private Stratgies, launched in 2021 and which aims to be more dynamic by including 50% unlisted investments. To benefit from its performance (3.02% in 2022), a constraint must be respected: it cannot represent more than a third of payments, the remaining two-thirds having to be made up of units of account.
A 1% yield bonus subject to conditions
The range of units of account is precisely plentiful, with 2,300 media from all the major houses: pierre-papier, ETF, UCITS… The selection was carried out in collaboration with Assurancevie.com, which knows the needs of digital , of its customers. Finally, the contract includes delegated management and charges 0.25% additional fees.
Is this the effect of the BNP brand? If the insurer refuses to communicate the first figures, the start seems successful. The dynamic exceeds what we expected. Customers express, through collection, that they are happy with this contract. Lucya Cardif is well positioned, indicates Delphine Mantz.
This is also explained by a current promotion: for any outstanding assets of at least 8,000 euros including 35% of units of account, the general fund benefits from a bonus of 1.5% for 2024 and 2025. However, the The insurer refuses to enter the race for performance. We will continue to support the rise in rates, but all the networks benefit from an equivalent performance on the euro fund.
We can guess what’s at stake. In a period of rising rates, any collection is good to take. Lucya is an Assurancevie.com exclusive, however we can assume that BNP Paribas Cardif is considering other offers. Our wish was to start with a partner, with whom we can watch how a developing market evolves. We will then study the possibilities of accelerating on this canal, underlines Delphine Mantz.
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