Finaccord                Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe...
Finaccord                         Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Weste...
Finaccord                         Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Weste...
Finaccord                         Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Weste...
Finaccord                                Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern an...
Finaccord                                   Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern...
Finaccord                                     Insurance and Assistance linked to Payment Cards and Bank Accounts in Southe...
Finaccord                         Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Weste...
Finaccord                        Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Wester...
Finaccord                         Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Weste...
Finaccord                                 Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern a...
Finaccord                                 Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern a...
Finaccord                               Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and...
Finaccord                        Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Wester...
Finaccord                              Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and ...
Finaccord                             Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and W...
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Report prospectus insurance_assistance_payment_cards_bank_accounts_southern_western_europe

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Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe investigates the market for insurance and assistance policies linked to banking products across eight countries in Southern and Western Europe. Composed of a series of cover types designed to enhance the payment card and current account operations of banks and other card providers, Finaccord’s research indicates this market to have been worth some EUR 2.74 billion in 2011. Drawing on the results of an investigation covering some 360 banking institutions and other issuers and distributors of credit cards in Belgium, France, Ireland, Italy, the Netherlands, Portugal, Spain and the UK, the report analyses the provision of a variety of different types of insurance and assistance policy in the following broad categories of cover: accident and health; creditor; personal and identity protection; shopping; travel; and other. In addition, concierge services are also included as a category in their own right.

Key features of this report include:

- quantification of the market size and segmentation for insurance and assistance linked to payment cards and bank accounts: how much is the market really worth across the countries considered?

- analysis of the many types of insurance and assistance policy marketed in each country and how the risks covered vary from one country and distributor to another;

- consideration of the role of centralised payment card issuing entities in each country and the degree to which individual banking institutions are concluding their own agreements for card-related insurance and assistance over and above the basic levels of cover already provided;

- calculation of provider share of partnerships based on number of relationships: which providers of insurance and assistance policies have been successful in establishing relationships with banking institutions and other card issuers or distributors and how does this vary by country?

- availability of an accompanying PartnerBASE database that details each of more than 10,750 insurance or assistance enhancements to the c. 2,370 payment cards and bank accounts analysed.

For further information about this research, please access the table of contents and report prospectus by clicking on the links at the top of this page, or e-mail info@finaccord.com.

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Report prospectus insurance_assistance_payment_cards_bank_accounts_southern_western_europe

  1. 1. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe Report Prospectus April 2012 Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 1
  2. 2. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe Prospectus contents Page What is the research? 3 What methodology has been used? 4 What types of product does the report cover? 5 How do payment cards and bank accounts covered break down? 6 What is the report structure? 7 What are the key features of the research? 8 How can the research be used? 9 Who can use the research? 10 What are some of the key findings? 11-14 What is the cost and format? 15 How can the research be purchased? 16 Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 2
  3. 3. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What is the research? Finaccord’s report titled Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe investigates the market for insurance and assistance policies linked to banking products across eight countries in Southern and Western Europe. Composed of a series of cover types designed to enhance the payment card and current account operations of banks and other card providers, Finaccord’s research indicates this market to have been worth some EUR 2.74 billion in 2011. Drawing on the results of an investigation covering some 360 banking institutions and other issuers and distributors of credit cards in Belgium, France, Ireland, Italy, the Netherlands, Portugal, Spain and the UK, the report analyses the provision of a variety of different types of insurance and assistance policy in the following broad categories of cover: accident and health; creditor; personal and identity protection; shopping; travel; and other. In addition, concierge services are also included as a category in their own right. Moreover, the PartnerBASE™ database that accompanies the report details each of more than 10,750 insurance or assistance enhancements to the c. 2,370 payment cards and bank accounts analysed. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 3
  4. 4. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What methodology has been used? Finaccord’s investigation into the provision of insurance and assistance linked to payment cards and bank accounts in Southern and Western Europe was carried out during a 10-week period between December 2011 and February 2012 and focused on all significant banking institutions and other payment card providers serving consumers in each country. Among other data points, the research embraces the following information: • whether insurance or assistance linked to payment cards and bank accounts has been organised; • if so, in association with which underlying payment card and bank account products? • if so, which types of insurance and assistance policy are offered? • if so, how… through captive or joint venture underwriters, through a single, external underwriter, through a broker or through relationships with multiple partners? • if so, what is the identity of the partner(s) used for each policy? Moreover, in the light of the fact that the identities of partners used for insurance and assistance enhancements to payment cards and bank accounts are often not revealed in the public domain, with policies being offered instead on a ‘white-labelled’ basis in the name of the banking institution or other card issuer, Finaccord has undertaken comprehensive primary research to ensure that the partner(s) used for each policy are disclosed in over 98% of all relationships covered. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 4
  5. 5. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What types of product does the report cover? ACCIDENT / HEALTH COVER TRAVEL COVER Accidental death insurance Travel accident insurance Health / hospital cash plans Travel assistance Health assistance Travel health insurance Personal accident insurance Travel inconvenience insurance Comprehensive travel insurance CREDITOR COVER Creditor insurance – life / permanent disability OTHER COVER Creditor insurance – temporary incapacity / unemployment Car hire insurance Computing assistance PERSONAL / IDENTITY PROTECTION COVER Home assistance ATM cash theft insurance Legal assistance Card protection insurance Legal expenses insurance Handbag / wallet insurance Missed event insurance Identity protection assistance Mobile gadget insurance Identity protection insurance Mobile telephone insurance Personal liability insurance SHOPPING COVER Road assistance Extended warranty Miscellaneous other insurance and assistance Online purchase protection insurance Price protection insurance CONCIERGE SERVICES Purchase protection insurance Concierge services Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 5
  6. 6. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe How do payment card and bank account products covered break down? Belgium, 94 Unclassified UK, 236 100% Packaged a/c Affinity France, 257 Prepaid card Debit card Premium Retailer Ireland, 37 80% Co-branded 60% Spain, 594 Credit card 40% Standard Standard 20% Italy, 849 Portugal, 239 0% Netherlands, 63 Product function Product level Product type Source: PartnerBASE Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 6
  7. 7. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What is the report structure? 0. Executive Summary: providing a concise evaluation of the principal findings of the report. 1. Introduction: offering rationale, description of methodology and some definitions. 2. Regional Overview: comprising an overview of the market for insurance and assistance enhancements to payment cards and bank accounts in Southern and Western Europe including a detailed calculation of the approximate value of the market in 2011 split by country, by individual policy type and between cover funded by the banks or payment card providers themselves and cover acquired separately by customers. In addition, this chapter analyses comparative penetration rates for all distinct forms of insurance and assistance enhancement. 3. Belgium: an in-depth analysis of the market for insurance and assistance linked to payment cards and bank accounts in Belgium including: introduction to the banking sector; quantification and segmentation of the payment card market; overview of insurance and assistance covers offered in conjunction with payment cards and bank accounts; and a detailed commentary concerning the operating models and provider share of partnerships for the provision of insurance and assistance linked to payment cards and bank accounts in Belgium. 4 - 10: France, Ireland, Italy, Netherlands, Portugal, Spain, UK (structure as for Belgium). Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 7
  8. 8. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What are the key features of the research? Key features of this report include: • quantification of the market size and segmentation for insurance and assistance linked to payment cards and bank accounts: how much is the market really worth across the countries considered? • analysis of the many types of insurance and assistance policy marketed in each country and how the risks covered vary from one country and distributor to another; • consideration of the role of centralised payment card issuing entities in each country and the degree to which individual banking institutions are concluding their own agreements for card-related insurance and assistance over and above the basic levels of cover already provided; • calculation of provider share of partnerships based on number of relationships: which providers of insurance and assistance policies have been successful in establishing relationships with banking institutions and other card issuers or distributors and how does this vary by country? • availability of an accompanying PartnerBASE database that details each of more than 10,750 insurance or assistance enhancements to the c. 2,370 payment cards and bank accounts analysed. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 8
  9. 9. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe How can the research be used? You may be able to use this report and the PartnerBASE™ that accompanies it in one or more of the following ways: • appreciate the magnitude of the opportunity in insurance and assistance linked to banking products in Southern and Western Europe: in aggregate, this is a significant market; • gain access to a single comprehensive source of information that provides both the detail and analysis surrounding over 10,750 individual insurance or assistance enhancements; • identify opportunities to develop new forms of insurance or assistance linked to payment cards and bank accounts in line with the marketing strategies of banking institutions and other card issuers or distributors in Southern and Western Europe; • understand the supply structure for insurance and assistance enhancements and how the market segments between international specialists, local providers and captive underwriters; • gain insight into the international presence of leading protagonists in this sector including ACE, Allianz Global Assistance, AXA Assistance, BNP Paribas Cardif, Chartis, CPPGroup, Europ Assistance and MetLife. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 9
  10. 10. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe Who can use the research? 1. Insurance providers: this research is a unique guide to an important strategic issue in personal lines insurance - be fully appraised of what growth in the market for insurance and assistance linked to bank accounts and payment cards could mean for your organisation; 2. Assistance companies: as banking organisations become more adept at marketing to specific consumer groups, opportunities will arise for developing new assistance concepts to be promoted in conjunction with payment cards and bank accounts; 3. Banking institutions and other card issuers: the comprehensive insights contained in this report will help you to evaluate both the insurance and assistance concepts packaged automatically with your own payment cards and bank accounts and your strategy for enhancing core revenues through cross-selling optional policies; 4. Management consultancies: are you helping an insurance or assistance company with its bancassurance strategy? Understand the current status of insurance and assistance linked to payment cards and bank accounts in Southern and Western Europe, saving time and effort on researching the subject yourself. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 10
  11. 11. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What are some of the key findings? 1. Purchase protection insurance is available with most payment card and bank account products analysed in Belgium, Italy and the Netherlands Belgium 62.8% France 27.6% Ireland 13.5% Italy 72.6% Netherlands 81.0% Portugal 12.1% Spain 10.6% UK 12.7% Average 36.6% 0% 20% 40% 60% 80% 100% % availability rate across all banking products analysed Source: Finaccord PartnerBASE Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 11
  12. 12. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What are some of the key findings? (cont.) 2. Cover paid for separately by customers rather than funded centrally by banking institutions accounts for the majority of the market value in all countries Belgium France Ireland Italy Automatic Additional fee Netherlands Portugal Spain UK 0% 20% 40% 60% 80% 100% Source: Finaccord estimates % split of total market value Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 12
  13. 13. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What are some of the key findings? (cont.) 3. The large market for personal and identity protection cover in France attracts a wide field of competitors Partner Share of partnerships Parent / group ACM 9.7% Crédit Mutuel Allianz IART 1.6% Allianz Assurances Banque Populaire IARD 4.6% Covéa / Groupe BPCE CACI 3.0% Crédit Agricole CAMCA 3.3% Crédit Agricole Cardif 7.9% BNP Paribas CARMA 0.3% Carrefour / Covéa CNP 1.0% CNP Assurances CPP 1.3% CPPGroup DAS 0.7% ERGO GAN Eurocourtage 7.2% Groupama GCE Assurances 2.6% Groupe BPCE HSBC Assurances 3.0% HSBC Pacifica 5.4% Crédit Agricole SERENIS 0.5% Crédit Mutuel Sogessur 23.4% Société Générale SPB 14.0% SPB Suravenir 0.3% Crédit Mutuel Tokio Marine Europe Insurance 3.3% Tokio Marine and Nichido Fire Insurance undisclosed 6.8% n/a Total 100.0% Source: Finaccord PartnerBASE Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 13
  14. 14. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What are some of the key findings? (cont.) 4. Key findings from the executive summary include: • in a regional market with an estimated value of EUR 2.74 billion in 2011, France is the largest of the eight markets considered, accounting for around EUR 1.06 billion of the total, followed by the UK with around EUR 956.7 million and Italy at approximately EUR 342.8 million; • the average number of insurance or assistance covers per banking product analysed is 4.21 for all eight countries with France the most heavily insured according to this definition, with an average of 6.51, and the Irish market the least insured, with only 2.51 covers per banking product; • 11 groups are active in four or more of the eight countries investigated, namely ACE, Allianz, Aviva, AXA, BNP Paribas Cardif, Chartis, CPPGroup, Crédit Agricole, Generali, MetLife and Onex Partners (the ultimate private equity owner of The Warranty Group); • one reason why the market value in Southern and Western Europe is likely to deliver limited growth in future years is that the anticipated development of payments made by mobile telephone may even bring about a decline in payment card usage albeit this new form of payment should itself throw up alternative opportunities in related insurance and assistance. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 14
  15. 15. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe What is the cost and format? Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe is available as a standard Adobe Acrobat PDF document and / or hard copy. The PartnerBASE™ that accompanies it at no further charge is in Microsoft Excel format. Costs for this research set, sister studies on the same subject and other related titles available at the time of publication are as follows: REPORT PRICE * Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe GBP 2,495 Insurance and Assistance linked to Payment Cards and Bank Accounts in Major Global Markets GBP 3,995 Insurance and Assistance linked to Payment Cards and Bank Accounts in Northern, Central and Eastern Europe GBP 2,495 Global Retailer Cards: Co-Branded, Loyalty and Private Label Programs GBP 3,995 Retailer Cards in Europe: Co-Branded, Loyalty and Private Label Programs GBP 1,995 Travel Insurance and Assistance in Major Global Markets GBP 3,995 Travel Insurance and Assistance in Northern, Central and Eastern Europe GBP 2,495 Travel Insurance and Assistance in Southern and Western Europe GBP 2,495 For UK-based clients, VAT at the prevailing rate will be added to the basic price. Costs quoted are for a single site user licence only. For a corporate user licence, please see the next slide for further details. Invoices can be paid in EUR, at the prevailing exchange rate, if preferred. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 15
  16. 16. Finaccord Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe How can the research be purchased? Simple. Just go to the relevant area of the Finaccord web site available at http://www.finaccord.com/order_eu_br.htm and fill in the online order form, clearly indicating: • report required • type of corporate user licence, if required * • billing name • address and e-mail address • purchase order number, if applicable Please allow up to one working day for the delivery of electronic copy by e-mail. * For the corporate user licence please choose one of the following options: 1. One office, one country: no supplement over and above basic cost of reports ordered 2. Multiple offices, one country: additional 20% over and above basic cost of reports ordered 3. Multiple offices, two to ten countries: additional 50% over and above basic cost of reports ordered 4. Global (unlimited offices in unlimited countries): additional 100% over and above basic cost of reports ordered VAT at the prevailing rate will be added to the price of any corporate user licence acquired by UK-based buyers. Expertise in financial services© Finaccord Ltd., 2012 Web: www.finaccord.com. E-mail: info@finaccord.com 16

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