February 13, 2023
Home insurance is an essential pillar among the personal protection solutions used by French consumers. To meet the expectations of customers, in particular younger generations, BNP Paribas Cardif is partnering with Lemonade to offer renters insurance.
This BtoC offer allows a simple and fluid client experience thanks to a 100% online policy subscription and claims submission process - all within seconds - on any device. Renters can buy an insurance policy online at cardif.fr or lemonade.com/fr and through the Lemonade app.
The insurance policy includes standard coverage such as damage to personal belongings within the insured home (fire, break and enter theft, windstorms, water damage, etc.) and personal liability coverage (damage to the property rented, as well as injury or damage caused to others). The insurance also includes special coverages adapted to the French market and locals’ needs:
● Coverage limits can be adjusted according to policyholders’ needs, with a single deductible amount chosen by them to ensure maximum transparency and simplicity.
● Coverage of personal items that have standalone value under €5,000, and the possibility to select extra coverage for high valuable items.
● 24/7 emergency assistance included.
● Worldwide coverage of property taken outside the home (for travels lasting less than 3 months).
● Add-on coverage against theft or glass breakage available for those who want extra protection.
This partnership comes within the framework of BNP Paribas Cardif’s strategic plan, which aims to leverage technology in order to enhance the customer experience, aligned with its core mission of making insurance more accessible. BNP Paribas Cardif will also be able to propose this fully-digital renters insurance to its distribution partners, and Lemonade will benefit from the deep experience of an insurer with a widely recognized brand that has been operating in the French market for 50 years.
“We are delighted to announce this collaboration with Lemonade, which is emblematic of our desire to continually innovate in forward-facing partnerships. We share a real commitment to combining the expertise of the two partners in order to facilitate access to insurance via digital channels while delivering top quality services for policyholders throughout the term of their insurance cover,” says Fabrice Bagne, BNP Paribas Cardif Deputy Chief Executive Officer, France and Luxembourg.
“As a well-developed insurance market with millions of digitally-savvy renters, France continues to be an exciting opportunity and focus for us since launching in 2020. A renowned brand like BNP Paribas Cardif combined with Lemonade’s instant and transparent approach to insurance brings the best of both worlds to French residents looking for a seamless way to protect their things,” says Daniel Schreiber, co-CEO and co-founder of Lemonade.
Risks are covered by both BNP Paribas Cardif and Lemonade, who act as co-insurers for this offer.