BNP Paribas Lease Group in insurance joint venture

BNP Paribas Lease Group France (BPLG)
has teamed up with Groupama Protection Juridique, a French
insurance company, to offer legal protection insurance to its
customers.

The product, Legabox, offers entrepreneurs
both legal information and dispute mediation, as well as support
for legal costs when disputes arise.

“BNP Paribas Lease Group and Groupama have a
long-standing and positive relationship, notably in the
agricultural and real estate sectors,” said Christian Sexton, head
of department at BNP Paribas Lease Group.

As lessors attempt to boost their income, they
are increasingly turning to added-value products which they can
sell to their customers.

However, businesses wishing to buy Legabox do
not need to have a financing contract with BPLG – it is open to
anyone.

“Groupama’s role was to develop the Legabox
product,” said Sexton. “And BNP Paribas Lease Group’s sales force
will now market the product.”

According to the two partners, 57 percent of
French firms have already had a dispute with a customer, 52 percent
with government, and 47 percent with a supplier.

BPLG hopes that the product will appeal to
businesses because it offers more than just insurance services.
Legabox offers support six days a week by phone or internet, on
issues ranging from tax law, to labour law, commercial law and real
estate law.

The product costs at least €29 per month,
although price is dependent on the size of the customer.