BNP Paribas Cardif: Asia Start-up Challenge to rethink the customer relationship as insurance industry enters a new era - BNP Paribas Asia Pacific
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July 18, 2017 -

BNP Paribas Cardif: Asia Start-up Challenge to rethink the customer relationship as insurance industry enters a new era

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BNP Paribas Cardif’s first ever Start-up Challenge in Asia concluded last week, with the five finalists presenting their innovative solutions to the judging panel in Hong Kong after two months co-working with BNP Paribas Cardif mentors. Conceived to rethink the customer relationship in a new era of digital financial services, the Start-up Challenge invited more than 100 of Asia’s best start-ups coming from 14 countries to present solutions to insurance challenges in four individual markets: Japan, Taiwan, Korea and India.

Vincent Sussfeld, Chief Executive Officer Asia, BNP Paribas Cardif, said: “I was extremely impressed by the solutions presented by the start-ups that took part in our challenge. The five finalists demonstrated their passion for improving the customer experience and providing cutting edge, tailor-made solutions for our customers driven by recent, but momentous, advances in digital technology, artificial intelligence and client experience.”

The insurance industry is entering a new era shaped by an abundance of technology. In order to thrive in a world that is both complex and rich in opportunities, BNP Paribas Cardif has initiated a strategic plan for 2020 designed to accelerate its growth, adapt to new uses and develop new prevention, service and insurance offerings. To execute this plan and continue to drive its transformation, BNP Paribas Cardif has accelerated its open innovation strategy, taking advantage of engagement with start-ups which not only provide new services to customers, but also improve efficiency and time-to-market deliveries.

The BNP Paribas Cardif Asia Start-up Challenge was co-organized with Agorize[1], a leader in online open innovation challenges. After two rounds of selection and mentoring, five finalists from Japan, Korea, Taiwan and India were asked to present their innovative products and services during the final round of competition in Hong Kong on July 13. The next stage will involve the launch of pilot projects with these 5 startups.

[1] Agorize specializes in organizing online innovation challenges

The five finalists:

  • P9 (Japan): an innovative gamification proposition to use fun videos or games to increase customers’ self-awareness of their own insurance needs and improve customer engagement.
  • Inclusive Services (India): developer of Tan-durust, a mobile app that helps customers to manage family-level wellness data for better health monitoring and healthcare services.
  • Finotek (Korea): developer of a fully integrated platform to re-invent CPI e-subscription processes with a simple, safe and fast customer experience.
  • Trading Valley (Taiwan): AI driven robo-services to optimize performances for customers’ wealth and retirement savings solutions
  • Smart Forecast (Korea): a solution to gain deeper knowledge of customers and provide targeted, personalized services

About BNP Paribas Cardif

No. 1 worldwide in creditor insurance[1], BNP Paribas Cardif creates innovative savings and insurance solutions designed for performance in a world shaped by the emergence of new uses and lifestyles.

A subsidiary of BNP Paribas, the company has a unique business model anchored in partnerships. BNP Paribas Cardif co-creates solutions with distributors in a variety of sectors, who then market the products to their customers.

BNP Paribas Cardif is a recognized global specialist in personal insurance, serving 100 million clients in 36 countries with strong positions in three regions – Europe, Asia and Latin America.

With over 10,000 employees[2] worldwide, BNP Paribas Cardif had gross written premiums of €27.1 billion in 2016, 57% of which was generated outside France.

Follow the latest news about BNP Paribas Cardif: @bnpp_cardif

 Press contacts

Elsa Lee-Reid
BNP Paribas Cardif Regional Head of Business Execution
+ 852 2825 1193
elsa.lee-reid@cardif.com

[1] Source: Finaccord

[2] Headcount of legal entities managed by BNP Paribas Cardif: nearly 8,000 employees