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Financing and insurrance - The winning partnership between Crédit Agricole Assicurazioni and AGOS in the automobile segment

In June, Crédit Agricole Assicurazioni – the non-life subsidiary of Crédit Agricole Assurances in Italy – launched an automobile insurance offering distributed by car dealers in partnership with consumer credit company AGOS, a subsidiary of CACF.

Financing and insurrance - The winning partnership between Crédit Agricole Assicurazioni and AGOS in the automobile segment

Known as "CVT", meaning “land vehicles" (pronounced tchi-vou-ti phonetically in Italian), this optional coverage is proposed at the time of purchase if the customer finances the vehicle with an AGOS loan. This is a single-premium product which can also be financed by the loan. In general, the term of the policy also corresponds to the term of the loan, meaning a maximum term of seven years.

This insurance is available in three formulas: Family, Travel and Executive. It covers cases of fire, theft, glass breakage and natural disasters, as well as vandalism, and also provides vehicle assistance insurance. For their claims, customers benefit from access to the CA Assicurazioni network of experts. They can also have their vehicle fitted with a latest-generation tracking unit which allows it to be located by satellite if stolen. Lastly, the customer can take out "New Vehicle Replacement Cost" cover that is valid in the event of theft for up to 36 months after the acquisition of the vehicle (Executive formula).

This new "CVT" offering joins the existing range of solutions developed in synergy with AGOS since January 2015:

  • DIARIA – payment of allowances for each day of hospitalisation that is required after illness or injury
  • RC FAMIGLIA – in the event of liability in the death or injury of a third person caused involuntarily
  • INDENNITARIA – payment of an allowance in the event of hospitalisation following a surgical intervention.                                                                                                                    

In late December 2016, these three solutions accounted for almost 60,000 policies in portfolio adding up to over €11 million in premiums. Results which prove that this collaboration between two of the Group's entities makes perfect sense and allows us to develop our business in a strategy that is also promoted by our Strategic Ambition 2020 Plan.

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