Single-brand strategies have
gained another adherent, French bancassurer BNP Paribas, which has
united its insurance operations under the name BNP Paribas
Cardif.
The new name replaces the
three former names under which the bancassurer’s insurance
operations traded:
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- BNP Paribas Assurance, the
corporate brand; - Cardif, the commercial brand
for product distribution through external partners; and - BNP Paribas, the commercial
brand for product distribution through the banks retail banking
network in France.
BNP Paribas said that the
name change followed an in-depth analysis conducted in 2010 of the
image of the former brands covering 100 of its most representative
partners in Europe, Latin America and Asia.
The results, said BNP
Paribas, confirmed the need to unify the different components in
the corporate identity.
Specifically, the BNP Paribas
Assurance name enjoyed only relative awareness and recognition and
was not easily associated with the Cardif brand, making it
difficult to effectively promote the company.
“BNP Paribas Cardif was
identified as the best solution to express a unified corporate
positioning,” stated the bancassurer.
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