Paris, France, February 16, 2021

Instant payment pioneer Natixis is providing Generali with an innovative solution to offer a digitalized and secure experience to its policyholders for their premium payments. This pilot solution is based on instant payment technology and introduced payment initiation. It marks a first in the insurance sector and could be rolled out on a broader scale over the months ahead. It also offers an effective tool to actively combat check fraud.

Check fraud accounted for 46% of total payment fraud in France in 2019*. In response to this trend, Generali has decided to draw on Natixis’ instant payment and online payment initiation expertise to offer its policyholders this new payment solution.

Policyholders can now pay insurance premiums via initiated transfers that are entirely digital and secured by strong authentication. They have the choice between instant payment – executed in 10 seconds – and SEPA transfer, with the solution offering a more seamless and swifter online customer journey.

This solution ensures full payment traceability for the client – who after approval receives a text message or confirmation email following the transaction – and Generali, which can automatically track premium payments received. This payment solution is also available from mobile devices.

Solid technological foundations

Instant payment pioneer since 2018, Natixis Payments’ solution for Generali rounds out the insurer’s range of secure payment methods for its policyholders. This move also fits with Generali’s broader strategy to digitalize the customer journey.

Natixis Payments relied on its solid technological foundation and its renowned expert teams across Natixis’ various business lines to co-develop this project with Generali, which is now the first insurer to offer this new payment method in France. This innovative solution also applies standards introduced by the second European payment services directive (PSD2), which requires widespread application of strong authentication for clients, and entails confirmation requests for sensitive transactions.

“This initiative is a perfect illustration of the value proposition we can deliver by combining PSD2 and instant payment to improve the customer and user experience. It is also a very practical example of the opportunities presented by open banking and the increased use of APIs for our clients as regards their business innovation and development” states Pierre-Antoine Vacheron, CEO of Natixis Payments and member of the Natixis senior management committee.

“Innovation is firmly rooted in our identity here at Generali, and we are proud to have rolled out this innovative solution that leverages both the advantages of instant payment and the power of open banking to offer our clients a more seamless, secure and fully digitalized experience, alongside our existing payment methods. The current health crisis challenges us to strive on a daily basis to offer greater flexibility and simplicity for our clients, and implementation of this new payment system is a clear illustration of this” says Laetitia Léonard-Reuter, CFO and member of the Executive Committee at Generali France.

* 2019 annual report from the French Observatory for the Security of Payment Means, published on September 22

 

Generali France is one of the leading insurers in France, offering a complete range of insurance solutions (health, provident, assistance, property and liability), asset savings and asset management to more than 7.4 million people. Established in France since 1832, Generali France relies on the know-how and expertise of its 9,000 employees and its networks of commercial intermediaries, agents, brokers and partners to be a Lifetime Partner to its customer. As a company committed to a global CSR approach, Generali France supports its clients in their efforts to achieve a more responsible, sustainable and inclusive economy through solutions that are perfectly in line with the social and environmental challenges of today's world.

More information on www.generali.fr

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