Generali becomes the first insurer in France to adopt the instant and secure payment solution developed by Natixis

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