BNP Paribas Cardif is committed to facilitating access to insurance for vulnerable populations. The company continues to take initiatives to make it easier for tetraplegics and people suffering from coronary heart diseases to obtain creditor insurance.
Guided by the AERAS agreement, this latest initiative builds on actions taken by BNP Paribas Cardif since 2008 to enable people with asthma and paraplegics to benefit from insurance cover.
As a socially responsible enterprise, BNP Paribas Cardif aims to make it easier for these populations to access insurance products that take into account the individual status of individuals (age, profession, health) in calculating the risk covered.
There are 6,500 tetraplegics(3) in France and approximately 2,000 new cases are identified each year. Among heart diseases, the most widespread coronary pathologies are angina and heart attacks.
At the same time, the condition of people with these pathologies has shown positive changes. This reflects extensive development of preventive measures such as first aid training for heart attacks or the availability of defibrillators in public areas. What's more, a growing number of people with disabilities are active in the workforce. The number of people with disabilities (all types) who have found employment was multiplied by 16 between 1987 and 2006.(4)
BNP Paribas Cardif has taken this data into account and adapted both the terms and conditions for its creditor insurance and the rates.
“Our primary goal is to offer rates that are better aligned with the risks of disability, invalidity or death linked to these pathologies. We drew on data showing trends for these pathologies, studies on medical advances and an internal analysis of policyholders with our company. These different elements enabled an in-depth review by a work group comprising customer relations, medical, marketing, actuarial teams, and the company's medical consultants”, says Doctor Philippe Sulzer, the chief consulting physician for BNP Paribas Cardif.
Insurance cover and rates better aligned with the reality of these pathologies
BNP Paribas Cardif is able to propose more appropriate insurance terms for tetraplegics and people with coronary heart diseases.
A new medical questionnaire for each pathology enables a precise assessment of the insurability of future policyholders, better taking into account each person's individual situation.
For tetraplegics, rates linked to the risk of death or complete and irreversible loss of autonomy are taken into account in the new rate structure to attenuate increases, based on information provided in the questionnaire. Both medical monitoring and social and/or professional integration have positive impacts on the rates. Additional cover (permanent total disability and temporary total disability) is now available as well for tetraplegics.
As for tetraplegics, insurance rates for people with the abovementioned heart pathologies benefit from assessments that take into account their individual situation. Supplemental coverage for permanent total disability and temporary total disability is now available to this population as well.
“Facilitating access to creditor insurance for tetraplegics and people with coronary heart diseases is part of a general and consistent policy towards aggravated health risks that BNP Paribas Cardif has pursued since 2008. We intend to go further in this direction by applying a similar approach to other pathologies as well,” says Marc Tentillier, Head of Corporate Social Responsibility at BNP Paribas Cardif.
1. Tétraplegia caused by trauma.
2. Coronary heart diseases.
3. Source: www.portailhandicap.com (2006).
4. Source : Femme Actuelle magazine (October 8-14, 2007- AGEFIPH).