Priority No. 1: promote access to insurance
Products for all
In France, an offer aligned with the needs of people with low incomes
In agreement with our distribution partners, we deliberately offer products with low minimum premiums or investment amounts, despite the extra administrative costs. The €30 tranche represented 20% of new money invested in life insurance contracts in 2015, and 46% of regular deposits.
La Banque Postale Prévoyance has offered long-term dependent care insurance with simplified subscription formalities since the beginning of 2015. This cover, combined with public assistance, helps vulnerable policyholders stay in their homes.
In 2010, CNP Assurances strengthened its ties with social economy stakeholders by becoming the insurer for loans granted by Procilia, a partner to the French government’s Action Logement low-income housing loan scheme. This cooperation with social economy stakeholders such as Action Logement, local welfare committees (comités sociaux) and micro-finance institutions operating according to the pawnbroker principle (crédits municipaux) was pursued in 2014, with the launch of a term creditor insurance offer with Crédit Municipal de Marseille.
As the leader in the group life insurance segment, CNP Assurances enables companies, non-profits, local authorities and hospitals to offer all their employees the same insurance cover at the same price, by pooling risks and covering different generations under the same policy.
CNP Assurances is a founding member of the Entrepreneurs de la Cité foundation, which aims to help microentrepreneurs obtain insurance. It is also one of the co-insurers for the foundation’s Basic Insurance Kit contracts offering death/disability and health cover. A total of 218 new Basic Insurance Kit contracts were sold in 2015. In view of the slow take-up of this offer, CNP Assurances launched La Fabrique d’Assurance in 2015, which brings together insurers and experts in various fields to discuss trends in social issues and their impact on insurance. The first workshop focused on microinsurance, identifying needs, and examining obstacles and levers for development.
In Brazil, innovative microinsurance products
In Brazil, the Caixa Seguradora group was the first insurer to enter the Brazilian microinsurance market, with the Amparo contract launched in 2011. More than 200,000 Amparo contracts have been sold to date. In 2015, Caixa Seguradora launched a microcredit insurance product, Familia Tranquila, which covered 66,800 microentrepreneurs at 31 December 2015.
Risk selection adapted to each policyholder’s health profile
CNP Assurances draws on its exceptionally deep understanding of risks, acquired over its many years’ experience in personal insurance, to regularly update and refine its risk selection policy. A key aim of this policy, which takes into account the state of health of individual policyholders, is to accept and pool invalidity and disability cover to as great an extent as possible. In addition, since 2012, the conditions of eligibility for the premium cap applicable to low income borrowers have been relaxed.
Our creditor insurance rejection rate has been less than 0.2% for the past seven years.
CNP Assurances, covering aggravated health risks
We are resolutely committed to ensuring that individuals representing an aggravated risk have access to credit and insurance in line with the provisions of the AERAS Convention. Disability cover is being offered on the terms laid down in the convention to customers denied incapacity or disability cover under standard policies. In addition to these regulatory obligations, we offer disability cover to civil servants and self-employed workers.
CNP Assurances is also involved in the revision of the AERAS Convention concerning the right to be forgotten. As such, when taking out creditor insurance, former cancer patients are covered in accordance with the general conditions of the contract, without being imposed a higher rate or being excluded, five years after the end of the treatment protocol for cancers diagnosed in people aged under 15, and fifteen years after the end of the treatment protocol for other cancers. Moreover, in common with all insurers, CNP Assurances is working on a reference grid allowing an alignment with the normal rate for people having been affected by certain diseases, including cancer.
Access to information
Information and product transparency
In 2015, CNP Assurances drew up a standard creditor insurance information leaflet. In accordance with regulations, this customised leaflet, provided to prospects before the contract is signed, sets out the guarantees offered in a clear and legible manner so as to improve the future policyholder’s understanding and to facilitate comparison with policies offered by other companies.
The level of transparency in respect of the contractual information provided to policyholders is subject to specific validation by the Compliance department. Since 2015, the inclusion of a legible and balanced presentation of the benefits and risks has been a further requirement. Moreover, a specific survey was conducted in 2015 on the degree of clarity of the letters sent to beneficiaries of death insurance policies.
CNP Partners was selected in 2015 in the category of Best B2C campaign for its communication around the customised Tu Vida life insurance solution designed for women in Spain, where family solidarity rests heavily on their shoulders. The winning website allows users to test the product’s various options in a quirky, modern and colourful way.
CNP Assurances Compañia de Seguros has been awarded a prize for its promotion of the social role played by life insurance in protecting families.
Access to communication
Insuring all our futures also means offering a website that is accessible to everyone. After audit, the cnp.fr website was declared 95%-compliant with France’s RGAA web accessibility standards, which cover such aspects as colour contrasts, keyboard accessibility, alternative texts to images, infobubbles, page titles and prioritisation of information.