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Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
Finaccord presentation 2013_bancassurance models around the world_jakarta
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Finaccord presentation 2013_bancassurance models around the world_jakarta

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Presentation at the 14th Asia Conference on #Bancassurance and Alternative Distribution Channels, May 2013, Jakarta

Presentation at the 14th Asia Conference on #Bancassurance and Alternative Distribution Channels, May 2013, Jakarta

Published in: Economy & Finance, Business
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  • 1. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 1Bancassurance ModelsAround the WorldBancassurance Models Around the WorldPresentation at the 14th Asia Conference onBancassurance & Alternative Distribution ChannelsJakarta, May15th 2013
  • 2. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 2Agenda Key factors that shape bancassurance markets Importance of bancassurance as a distribution channel Operating models worldwide Creditor (payment protection) insurance Insurance and assistance packaged with bankingproducts Future outlook for bancassurance globally
  • 3. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 3Key Factors that Shape Bancassurance Markets Regulatory framework: insurance mediation laws (e.g.marketing of products); insurance shareholding of banks Product regulation (e.g. product bundling) Market characteristics (e.g. maturity, insurancepenetration) National tax systems
  • 4. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com0%20%40%60%80%100%BR ES FR IT KR HK ID CN TH MX DE IN UK JP CL VNMinimum % % range trigger4Importance of the bancassurance channelEstimated distribution share of bancassurance in life insurance, 2012Source: Finaccord Global Bancassurance Reports
  • 5. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com0%20%40%60%80%100%IN CL KR BR ES TH HK ID FR UK DE MX VN IT CN JPMinimum % % range trigger5Importance of the bancassurance channelEstimated distribution share of bancassurance in non-life insurance in selected countries, 2012Source: Finaccord Global Bancassurance Reports
  • 6. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 6Operating models used in selected countriesThe Southern Europe model (life and non-life insurance, weighted), 2011/2012SpainItalyBrazilMexico0% 20% 40% 60% 80% 100%External underwriter Multiple external underwriters Captive underwriterJV underwriter Other trickerSource: Finaccord Global Bancassurance Reports
  • 7. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 7Operating models used in selected countriesThe multiple underwriters model (life and non-life insurance, weighted), 2012China0% 20% 40% 60% 80% 100%External underwriter Multiple external underwriters Captive underwriterJV underwriter Other trickerJapanSouth KoreaSource: Finaccord Global Bancassurance Reports
  • 8. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 8Operating models used in selected countriesAsia displays various other market structures (life and non-life insurance, weighted), 20120% 20% 40% 60% 80% 100%External underwriter Multiple external underwriters Captive underwriterJV underwriter Other trickerHong KongIndiaIndonesiaThailandVietnamSource: Finaccord Global Bancassurance Reports
  • 9. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 9Creditor (payment protection) insurance Cross-selling product in conjunction with mortgages,consumer finance and credit cards In many countries effectively bundled with the underlyingbanking product: near monopoly over distribution Improves profitability for lenders Abused in the UK: market imploded in recent years
  • 10. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 10Creditor (payment protection) insuranceMarkets by total value (USD million), selected countries, 20127,470.46,818.25,392.43,889.73,703.7804.8365.30 2,000 4,000 6,000 8,000FranceGermanyJapanBrazilSpainThailandIndonesia7,4706,8185,3923,8903,704805365Source: Finaccord Global Bancassurance Reports
  • 11. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 11 Niche and high margin products Increase banking customer loyalty Can be packaged with payment cards and currentaccountsPackaged insurance and assistance
  • 12. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 12Packaged insurance and assistanceMarket value split by cover type in 20 European countries (USD million), 2012Accident /health, 138Creditorinsurance -credit cards,2,075Personal /identityprotection,1,854Shopping, 94Travel, 374Other, 365Concierge,243Source: Finaccord Global Bancassurance ReportsTotal: USD 5,143million
  • 13. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 13Packaged insurance and assistanceMarket value split between policies paid for by banks and paid for by customers in 20 Europeancountries (USD million), 2012Paid for bybanks, 1,015Paid for bycustomers,4,127Source: Finaccord Global Bancassurance Reports
  • 14. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.comFrance, 1,346UK, 1,230Turkey, 501Italy, 454Spain, 282Other, 1,33014Packaged insurance and assistanceMarket value split between 20 European countries (USD million), 2012Source: Finaccord Global Bancassurance Reports
  • 15. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 15Future for bancassurance globally High growth countries: Latin American countries +Asian emerging countries Low growth countries: Northern European countries +developed Asian countries + North America Problematic countries: Southern European countries +UK Opportunities: African / Middle Eastern countries
  • 16. Bancassurance Models Around the World© Finaccord Ltd., 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 16Any questions?Sources and related Finaccord publications:Creditor Insurance in Latin AmericaCreditor Insurance in Northern, Central and Eastern EuropeCreditor Insurance in Southern and Western EuropeLife Bancassurance in the Asia-Pacific Region: Investment-Related Life Insurance and Retirement SavingsLife Bancassurance in the Asia-Pacific Region: Protection-Related Life InsuranceLife Bancassurance in Europe: Investment-Related Life Insurance and Retirement SavingsLife Bancassurance in Europe: Protection-Related Life InsuranceLife Bancassurance in Latin America: Protection-Related Life InsuranceNon-Life Bancassurance in Europe: Accident and Health InsuranceNon-Life Bancassurance in Europe: Motor and Household InsuranceBancassurance country reports (covering 30 different countries in the Asia-Pacific region, Europe andLatin America)Insurance and Assistance linked to Payment Cards and Bank Accounts in Major Global MarketsInsurance and Assistance linked to Payment Cards and Bank Accounts in Northern and Central EuropeInsurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western EuropeCard Protection Metrics: Consumer Approaches to Card Protection Insurance in EuropeCreditor Metrics: Consumer Approaches to Payment Protection Insurance in EuropeLife Protection Metrics: Consumer Approaches to Protection-Related Life Insurance in Europe

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