2022 Business Report

Pauline Leclerc-Glorieux CEO of BNP Paribas Cardif

In 2022 we demonstrated the resilience of BNP Paribas Cardif's model. It was an ambitious year, during which we continued to enrich or value proposition and to improve your clients’ experience. It was also a complex year, as we ensured operational continuity of services and sustained growth in an extraordinary environment, marked by Covid-19, armed conflicts and geopolitical tensions. At the same time, it was a year of partnerships, where trust – which figures at the heart of our partnership model – proved more essential than ever, evidenced by the hundred or so partnerships we won or renewed.

We know for a fact that the world keeps changing fast, just as your clients are changing fast. The pandemic and its aftermath have accelerated mega trends, which continue to shape the way individuals perceive risks and how they protect themselves. As an insurer, we address these disruptive changes and accelerate our transformation, taking into account your new expectations as well as those of your clients.

To meet these new needs and continue to accompany your transformation in a fast-changing world, we established solid foundations with a new strategic plan in 2022. Our plan – GTS 2025 – is anchored by three pillars: Growth, Technology and Sustainability. We aim to be a growth engine for you. The plan both sticks to our proven partnership business model – the success of which has been reaffirmed by your longstanding trust – and to our mission, to make insurance more accessible.

To achieve our objectives, we aim to capture new growth opportunities in the insurance market, adapt to shifts in consumer behaviours, and ensure that we have a positive impact on society, thus meeting these new expectations.

Growth, maintaining our course as we pursue development

We are focusing on our growth targets by strengthening our positions in savings and protection in markets around the world, while at the same time identifying fresh opportunities. We continue to support you by teaming up with you to develop new products, notably integrated service ecosystems. We are also consolidating our market shares, particularly in creditor insurance, savings and retirement planning, and we are expanding in new segments such as automobile maintenance and pet insurance. Equally important is winning the trust of new and innovative partners, especially in the tech sector, and rolling out new product ranges aligned with the expectations of the customers of these pure players.

Technology, leveraging tech and innovation to enhance client experience

Digital platforms have become essential touchpoints for engagement with consumers seeking information and purchasing all types of goods and services. By adapting our solutions to this trend and rethinking online customer journeys, we are changing the way people find and purchase insurance. This requires profound changes, impacting everything from simplifying our offering to taking advantage of artificial intelligence and automating processes, all to ensure you and your clients a quality experience. We are actively engaging with these trends at multiple levels. We are building partnerships with distribution platforms to make it easy for customers to purchase insurance directly online for the products they buy. And we are working with our partners to offer service ecosystems built around an integrated insurance approach.

Sustainability, the imperative of having a positive impact on society

Having a positive impact on your clients and your organisation, on our employees, on the environment and on society as a whole, has become a key concern. People today increasingly base their consumption choices on the notion of impact. This is why sustainability is a cornerstone of our value proposition. We firmly believe it is essential to manage our business in ways that achieve both financial performance and positive impact. We will pursue our commitments to supporting the climate transition, and we will continue to create products that are more easily accessible and inclusive, including working with players in the circular economy. At the same time, we will continue our responsible investment policy, allocating a billion euros per year on average to positive impact projects.

These are our objectives for the coming four years, and I am confident that, working together, and thanks to your trust, we will achieve them.