Finaccord's report titled Travel Metrics: Consumer Approaches to Travel Insurance and Assistance in Germany offers detailed and unique insights into the behaviour of German consumers in the context of travel insurance and assistance. This publication follows on from Finaccord's ground-breaking study in 2006, and is based on a survey of 1,000 consumers in Germany carried out at the end of 2010. The research quantifies the proportion of German consumers who travel and the proportion that buy travel insurance, segmented by age and income. It also investigates the types of policy that they buy (annual policies, single trip policies or packaged policies, e.g. with a travel ticket or a payment card), the risks covered and assistance services provided by their policy, the distribution channels and interfaces that they use to take out travel insurance, and whether they bought a policy before booking their travel, at the same time, or afterwards. It also reports on the reasons why uninsured travellers did not buy travel insurance. Finally, the report analyses claims frequency for travel insurance, including data for the types of claim and for acceptance rates, and ranks major providers of insurance and assistance by the frequency with which they are identified by consumers as the provider of their policy. Furthermore, the majority of results from the latest research are compared with those of Finaccord's 2006 study. You may be able to use this report in one or more of the following ways: - to benchmark your organisation's performance in travel insurance: how do your policy features and your mix of single, annual or packaged policies compare against the average for Germany' - to identify the most important demographic segments for travel insurance: can you improve product design to appeal to them' - to evaluate the opportunities for distributing travel insurance through channels other than the travel trade: to what extent will German consumers buy through these other means' - to assess the apparent consumer awareness and utilisation of major providers of travel insurance, including Allianz, AXA Assistance, Elvia / Mondial Assistance, Europ Assistance, Europ

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Travel Metrics: Consumer Approaches to Travel Insurance in
Germany
Published on June 2011
Report Summary
Finaccord's report titled Travel Metrics: Consumer Approaches to Travel Insurance and Assistance in Germany offers detailed and
unique insights into the behaviour of German consumers in the context of travel insurance and assistance. This publication follows on
from Finaccord's ground-breaking study in 2006, and is based on a survey of 1,000 consumers in Germany carried out at the end of
2010. The research quantifies the proportion of German consumers who travel and the proportion that buy travel insurance,
segmented by age and income. It also investigates the types of policy that they buy (annual policies, single trip policies or packaged
policies, e.g. with a travel ticket or a payment card), the risks covered and assistance services provided by their policy, the distribution
channels and interfaces that they use to take out travel insurance, and whether they bought a policy before booking their travel, at the
same time, or afterwards. It also reports on the reasons why uninsured travellers did not buy travel insurance. Finally, the report
analyses claims frequency for travel insurance, including data for the types of claim and for acceptance rates, and ranks major
providers of insurance and assistance by the frequency with which they are identified by consumers as the provider of their policy.
Furthermore, the majority of results from the latest research are compared with those of Finaccord's 2006 study. You may be able to
use this report in one or more of the following ways: - to benchmark your organisation's performance in travel insurance: how do your
policy features and your mix of single, annual or packaged policies compare against the average for Germany' - to identify the most
important demographic segments for travel insurance: can you improve product design to appeal to them' - to evaluate the
opportunities for distributing travel insurance through channels other than the travel trade: to what extent will German consumers buy
through these other means' - to assess the apparent consumer awareness and utilisation of major providers of travel insurance,
including Allianz, AXA Assistance, Elvia / Mondial Assistance, Europ Assistance, Europäische, HanseMerkur, HUK Coburg, R&V /
MDT, Union and Zürich; - to understand claims experience for travel insurance in Germany, how this varies by type of customer and
what this might mean for the profitability of your activities in this sector.
Table of Content
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY ....................... 1
Younger travellers are more likely to be covered by travel insurance policies ........ 1
Prominent providers include Allianz Versicherung and HUK Coburg Versicherung......................... 1
Annual travel policies play an important role in the German market ....................... 1
Claims frequency is highest among policyholders with large annual household incomes ............... 1
1.0 INTRODUCTION .......... 2
Research rationale ........... 2
European consumer research ................... 2
Travel insurance and assistance ........... 2
Other topics ................... 2
Other international research reports.......... 4
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2.0 SURVEY ANALYSIS .... 6
Introduction ....................... 6
Underlying travel market .. 7
Frequency of travel ....... 7
Frequency of travel, segmented by age 8
Frequency of travel, segmented by income .................... 9
Uptake of travel insurance and assistance ....................... 10
Proportion of travellers who are covered by travel insurance ................ 10
Proportion of travellers who are covered by travel insurance, segmented by age ......... 11
Proportion of travellers who are covered by travel insurance, segmented by income ... 12
Types of consumers who buy the most travel insurance ....................... 13
Main reasons why uninsured travellers do not acquire travel insurance ......................... 13
Characteristics of travel insurance and assistance .......... 15
Risks covered by travel insurance ....... 15
Providers of travel insurance ................ 16
Distribution of travel insurance and assistance ................ 17
Types of travel insurance and assistance policies held 17
Types of travel insurance and assistance policies held, segmented by age ................... 19
Types of travel insurance and assistance policies held, segmented by income ............. 20
Distribution channels used for stand-alone travel insurance .................. 22
Distribution interfaces used for stand-alone travel insurance ................. 24
Cross-tabulation of distribution channels and interfaces used for stand-alone policies . 25
Time of acquisition of stand-alone travel insurance ...... 26
Travel insurance and assistance claims . 27
Frequency and outcome of travel insurance claims, segmented by age ........................ 27
Frequency and outcome of travel insurance claims, segmented by income .................. 28
Frequency of travel insurance claims, segmented by type of policy ...... 30
Main reasons for travel insurance claims ...................... 31
3.0 APPENDIX .................. 32
Research sample statistics ...................... 32
Research structure ......... 34
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY ....................... 1
1.0 INTRODUCTION .......... 2
2.0 SURVEY ANALYSIS .... 6
% of German respondents undertaking significant travel during the preceding 24 months, 2006 and 20107
% of German respondents undertaking significant travel during the preceding 24 months, segmented by age, 2010 8
% of German respondents undertaking significant travel during the preceding 24 months, segmented by annual household income,
2010 ............... 9
% of German travellers who were covered by travel insurance, 2006 and 2010 ............... 10
% of German travellers who were covered by travel insurance, segmented by age, 2010 ......................... 11
% of German travellers who were covered by travel insurance, segmented by annual household income, 2010 ...... 12
% of all travel insurance policies purchased by each age and annual household income segment, Germany, 2010............... 13
Main reasons why uninsured German travellers did not acquire travel insurance, 2006 and 2010 (data) . 13
Main reasons why uninsured German travellers did not acquire travel insurance, 2006 and 2010 ............ 14
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Risks covered by travel insurance and assistance in Germany, 2010 ..... 15
Travel insurance providers identified by respondents in Germany, 2010 . 16
Types of insurance policy held by insured German travellers, 2006 and 2010 .................. 17
Types of insurance policy held by insured German travellers, 2006 and 2010 (data) ....... 18
Types of insurance policy held by insured German travellers, segmented by age, 2010 . 19
Types of insurance policy held by insured German travellers, segmented by annual household income, 2010 ...... 20
Types of insurance policy held by insured German travellers, segmented by age and annual household income, 2010 (data) ....... 21
Distribution channels used for stand-alone travel insurance in Germany, 2010 ................ 22
Distribution channels used for stand-alone travel insurance in Germany, 2006 and 2010 ......................... 23
Distribution interfaces used for stand-alone travel insurance in Germany, 2006 and 2010 ........................ 24
Cross-tabulation of distribution channels and interfaces used for stand-alone travel insurance in Germany, 2010 ...... 25
Time of acquiring stand-alone travel insurance relative to time of booking travel, Germany, 2006 and 2010 ............... 26
Frequency and outcome of travel insurance claims in Germany, segmented by age of claimant, 2010 .... 27
Frequency and outcome of travel insurance claims in Germany, segmented by annual household income of claimant, 2010 ............ 28
Frequency and outcome of travel insurance claims in Germany, segmented by age and annual household income of claimant, 2010
(data) .............. 29
Frequency of travel insurance claims in Germany, segmented by type of policy, 2010 .... 30
Main reasons for travel insurance claims in Germany, 2010 ..................... 31
3.0 APPENDIX .................. 32
German survey sample (1,000 individuals), segmented by age group and annual household income band ............... 33
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