Santander Consumer Banque, the French subsidiary of Santander Consumer Finance, the European leader in consumer credit, has chosen CNP Assurances to offer creditor insurance and financial loss insurance products to its individual and professional customers.
Santander Consumer Banque is an agile, innovative player offering financing and insurance solutions for the purchase or rental of vehicles distributed through partnerships with retail professionals in the automotive, motorcycle, leisure vehicle and bicycle segments.
Following a call for tenders, CNP Assurances, a leading player on the French personal insurance market and leader in creditor insurance, was selected for the simplicity of its products, its competitiveness and its ability to cover all the guarantees offered to Santander Consumer Banque's customers (death, incapacity/disability, job loss and financial loss).
The partnership provides for an innovative offer, named Horizon Protection, with competitive rates, simplified membership terms (no medical formalities for amounts below €60,000), protective guarantees, particularly in the event of disability (unlimited duration until the customer's 65th birthday) and coverage of 100% of monthly repayments or lease payments over the full term of the loan.
The operational management of these policies has been entrusted to CBP France, an expert in creditor insurance and the mobility sector, which will provide all involved parties with its management expertise.
With this new partnership, CNP Assurances is accelerating its development on the consumer loan insurance market and reaffirming its goal of positioning itself in the vehicle insurance sector.
By combining CNP Assurances' expertise in personal insurance with Santander Consumer Banque's recognised distribution capabilities, this partnership will create value for both groups and enable Santander Consumer Banque's customers to benefit from a competitive offer with a high level of protection.
Thomas Chardonnel, Director of the France Partnerships and the Ametis Network business unit
"This agreement marks a major step forward in the diversification of our loan insurance offering in the automotive and mobility sectors. With Santander Consumer Banque, a leading player in vehicle finance, we are pleased to offer our customers innovative, simple and accessible products, in line with our corporate mission to provide as many insurance solutions as possible."
Martin Thomas, Chief Executive Officer of Santander Consumer Banque
"With this agreement, we are strengthening the coverage of our customers and pursuing our ambition to become a leader among independent financing companies in France. We are convinced that by combining CNP Assurances' expertise with our distribution know-how, this partnership will create value for both our Groups and their clients."