Cooperation between BNP Paribas Cardif, Smart InsurTech and Europace: new brokerage of hedging products from 2024

Cooperation between BNP Paribas Cardif, Smart InsurTech and Europace: new brokerage of hedging products from 2024

According to a report by www.it-finanzmagazin.de, a new cooperation is planned between BNP Paribas Cardif, Smart InsurTech and the sister company Europace. From mid-2024, this collaboration will make it possible to connect security products directly to the transaction platform for real estate financing, building savings products and installment loans. This means consumers can secure their building financing from a single source directly at the point of sale. The policies will be adaptable to the individual needs of customers and include protection against risks such as death, incapacity to work or unemployment.

The integration of construction financing and insurance processes drives digitalization forward by embedding construction financing insurance from BNP Paribas Cardif as an additional criterion in the financing process and can be completed fully digitally together with the financing. This seamless integration creates a convenient process for consultants and end customers and significantly reduces the original complexity.

This integration has potentially far-reaching implications for the market and industry. By automating and simplifying the process, time and costs can be reduced. This not only makes sales easier, but also creates more freedom for customer service. Consumers benefit from a simpler and faster closing process that allows them to secure their construction financing directly at the point of sale.

The increased accessibility and simplicity of the insurance process could also lead to increased consumer demand for home mortgage insurance. This could lead to increased deal volume and potentially increased competition in this market segment.

Overall, this collaboration could increase efficiency and convenience for consumers, advisors and the entire industry and is expected to lead to an increased focus on the digitization of insurance and financing processes.