La Banque Postale develops "hard knocks" insurance

A new stage in La Banque Postale's long-standing policy of supporting the most vulnerable populations. The group has just announced the launch of new guarantees attached to its insurance offer to cover the "hard times" in the lives of its customers, and of young people in particular. The aim is to respond to the growing risks associated with the evolution of society.

FACTS

• For La Banque Postale, this autumn is therefore marked by an enrichment of its insurance offers. The group has just announced the launch of new guarantees for its life accident and health emergency insurance offers.

• These new guarantees include protection against school bullying and cyberbullying. They are therefore aimed primarily at families and children who are particularly exposed to these specific risks.

• They are integrated into La Banque Postale's Life Accident Insurance offer and are based on three major components

  • prevention of school bullying and cyberbullying through an online kit for children and adults to raise awareness among all families

  • directing victims to a data deletion service if the risk is real,

  • support and compensation for victims, triggered by the filing of a complaint. A lump sum of €1,000 is paid to cover the costs of psychological follow-up or the organisation of home schooling.

• In addition, Parkinson's disease and multiple sclerosis are now covered by the Health Critical Illness Insurance already offered for a long time by La Banque Postale.

• La Banque Postale specifies that access to these new guarantees is automatic for all holders of life accident and health emergency insurance policies. No additional costs are to be expected.

CHALLENGES

• Adapting to the new risk: Although the risks linked to cyber-harassment are not totally new, they are nevertheless linked to a change in society to which insurance organisations have necessarily had to adapt. And today, La Banque Postale is taking them into account in its insurance offer to anticipate the potential needs of its customers.

• Covering rising risks: At the end of 2020, the e-enfance association noted a 26% increase in acts of cyberbullying compared to September 2019. According to a study by the Institut Montaigne and the Axa Prévention association, 63% of young people said they had already been victims of cyberbullying at least once. According to the report of the Senate's information mission on school bullying and cyberbullying dated September 2021, one million children are also bullied every year in France.

• Strengthening its action: La Banque Postale is taking advantage of this announcement to specify that the group now has more than 2 million people protected by its provident services.

MARKET PERSPECTIVE

• Protection offers against cyber risks and online harassment have multiplied over the years, at the same time as the risk has unfortunately become part of the daily life of a growing proportion of the population. In France, various players have positioned themselves.

• AssurTech Moonshot Insurance, a subsidiary of the Société Générale group, has joined forces with an expert in online hate protection to develop a service combining prevention and insurance in December 2021. Its objective was to participate directly in the fight against cyberbullying.

• It is young people who are most often targeted by this type of online attack. In line with this, Banque Casino decided to include coverage against cyberbullying in its school insurance from 2019.