BNP Paribas Cardif in Germany and Interhyp AG, an established player in private mortgage lending, have commenced a strategic cooperation. This partnership focuses on mortgage protection, allowing Interhyp AG customers to take out supplementary insurance products. The initiative aims to enhance the financial security of property purchasers over the often lengthy term of a financing agreement.
Acquiring a property represents a significant financial commitment for many individuals. Over the duration of such financing, unforeseen life events such as incapacity to work, involuntary unemployment, or death can occur, which may significantly impair the ability to meet monthly instalments. With the BaufiProtect product, BNP Paribas Cardif offers a solution that steps in during such situations and secures the mortgage.
Jana Brendel, Chief Digital Officer at Interhyp AG, underlined the importance of this protection for a sense of security regarding long-term property commitments. The cooperation with BNP Paribas Cardif makes it possible to offer this additional security on the journey to homeownership. Customers have the option to choose between three insurance packages – Basic, Comfort, and Premium – to tailor the scope of protection to their individual needs. The sums insured are freely selectable, and the policy is taken out via a simplified risk assessment using a few health questions. Another feature is the monthly cancellation option for the protection.
Growing Importance of Financial Protection
The demand for additional financial protection shows a growing trend. An international study by BNP Paribas Cardif titled “Protect & Project Oneself” proves that financial losses are among the primary concerns of the population. The survey, conducted in 21 countries, indicates that 82 percent of respondents consider credit protection an effective measure to protect one's home during financially challenging times. Particularly for long-term property financing, which represents a significant commitment, securing the monthly instalment plays a central role.
Alexander Hoffmann, Chief Sales Officer of BNP Paribas Cardif in Germany, commented on the objectives of the cooperation. He emphasised that BNP Paribas Cardif, together with Interhyp, intends to simplify the offering in the property financing market and to achieve significant progress, especially in the area of protection. Hoffmann advocated for a rethink in Germany and highlighted that the importance of protecting a property financing agreement should be more strongly integrated into financing offers given current challenges.
The collaboration unites the respective core competencies of both companies: Interhyp contributes its extensive experience in brokering private mortgages, while BNP Paribas Cardif provides its expertise in developing insurance solutions related to financing. Interhyp is present at over 140 locations in Germany and compares offers from more than 500 lenders. BNP Paribas Cardif has been operating in Germany since 1996 and, as a B2B2C insurer, develops tailor-made insurance solutions for partners and their clients.
