Insurance Solutions<br />Presented By:<br />Nicholas Graham – Director<br />Graham Locke – Associate Director<br />Ferda T...
Strategic Insurance Services Ltd<br />Strategic Insurance Services <br />2<br />Over 10 years  experience in the banking s...
Banking Clients<br />Strategic Insurance Services <br />3<br />
The Approach          <br />Strategic Insurance Services <br />4<br />Consultative – no “off the shelf” products<br />Prod...
Customer Demographic
Competitors
Market Segment
Available Budget</li></li></ul><li>Strategic Insurance Services <br />5<br />The Approach          <br />Support Client Ma...
Promote Customer Loyalty
Increase Utilisation
Product Innovation
Unique Selling Points
Provide value for Money
New Card Launch</li></li></ul><li>Strategic Insurance Services <br />6<br />Product Development -  Mass Market Segment<br ...
Consumer Protection
Customer Loyalty
Convenience  </li></li></ul><li>Strategic Insurance Services <br />7<br />Product Suggestions -  Mass Market Segment      ...
Strategic Insurance Services <br />8<br />Product Development -  Mid Market Segment<br />Gold Cards          <br />Higher ...
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Credit Card Innovation

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  • Started out as a niche Affinity Group Broker and over the life of the company really have kept quite close to that script – except that we have become more of an Underwriting Agent BUT with strong Broking links .As a Broker ,based in the heart of London’s International Market Place, we have access not only to Lloyds, but also to the International Insurance Companies who have Offices in London to underwrite the Global Insurances &amp; Reinsurances that get offered. To date we really only broker bespoke A&amp;H business. We have found that with the experience and book of business that we have developed that Insurers are happy to trust us to underwrite certain classes of business on their behalf and this in turn allows us to provide a very personal and efficient service to our Producers.The personal approach that we try and adopt means that we will take the time and trouble to help clients design programmes that are right for them / the client.The most important thing though is our willingness to try something new and to be innovative.
  • As you can see we do work with some diverse Banking Clients – most of the relationships are indirect i.e. We are contacted by an entity acting as an Introducer.We are the underwriters that sit behind the products that the Banks chose to adopt – Expatiate Health Insurance is endorsed by Lloyds TSB Intnl/ Car Rental Insurance &amp; Purchase Protection is purchased by RBS Intnl on behalf of its Bank ACCOUNT (not Credit Card holders).Internationally , we have a presence in : Spain / Iceland / Cyprus / CEMEA region for VISA / now quoting for Banks in the Benelux countries.
  • Credit Card Innovation

    1. 1. Insurance Solutions<br />Presented By:<br />Nicholas Graham – Director<br />Graham Locke – Associate Director<br />Ferda Tarzi - Logo Mümessillik <br />
    2. 2. Strategic Insurance Services Ltd<br />Strategic Insurance Services <br />2<br />Over 10 years experience in the banking sector<br />Fully licensed independent Lloyds broker – EU authorised<br />Access to widest international insurance/reinsurance market but with local servicing.<br />Binding authority – speed of response<br />Individual product design and innovation<br />Lower cost base than larger insurers – competitive premiums<br />
    3. 3. Banking Clients<br />Strategic Insurance Services <br />3<br />
    4. 4. The Approach <br />Strategic Insurance Services <br />4<br />Consultative – no “off the shelf” products<br />Products designed to meet client requirements: <br /><ul><li>Card Type
    5. 5. Customer Demographic
    6. 6. Competitors
    7. 7. Market Segment
    8. 8. Available Budget</li></li></ul><li>Strategic Insurance Services <br />5<br />The Approach <br />Support Client Marketing Strategy<br /><ul><li>New Customer Recruitment
    9. 9. Promote Customer Loyalty
    10. 10. Increase Utilisation
    11. 11. Product Innovation
    12. 12. Unique Selling Points
    13. 13. Provide value for Money
    14. 14. New Card Launch</li></li></ul><li>Strategic Insurance Services <br />6<br />Product Development - Mass Market Segment<br />Debit or Classic Cards <br />Low card fee, domestic spend, lower income & insurance spend<br /><ul><li>High Perceived Value
    15. 15. Consumer Protection
    16. 16. Customer Loyalty
    17. 17. Convenience </li></li></ul><li>Strategic Insurance Services <br />7<br />Product Suggestions - Mass Market Segment <br /><ul><li>Purchase Protection </li></ul>– covers items bought on the card for loss, theft or damage<br /><ul><li>Price Protection </li></ul> – pays the difference on items bought on the card which are found cheaper at another store<br /><ul><li>Internet delivery guarantee </li></ul> – pays for the replacement items bought over the internet which do not arrive or are stolen during delivery.<br /> <br />
    18. 18. Strategic Insurance Services <br />8<br />Product Development - Mid Market Segment<br />Gold Cards <br />Higher card fees, cosmopolitan, more affluent but commercially aware - looking for best deals<br /><ul><li> Added Value
    19. 19. Save Money
    20. 20. Customer Loyalty</li></li></ul><li>Strategic Insurance Services <br />9<br />Product Suggestions - Mid Market Segment<br /><ul><li>Extended Warranty </li></ul>– extends the manufacturers guarantee on items bought on the card.<br /><ul><li>Travel Insurance </li></ul> – should be best in class with benefit levels higher than competitors, cover family up to 90 days . Inclusive cover - business and leisure travel without the need to buy upgrades. <br /><ul><li>Personal Accident </li></ul> – paying a cash benefit in the event that the cardholder is killed or disabled following an accident. <br /><ul><li>Mobile Phone Insurance/Portable Equipment Cover </li></li></ul><li>Strategic Insurance Services <br />10<br />Product Development - High Net Worth Segment<br />Platinum/Black Cards <br />Highest valued customers, competitive sector , recognition of status and expect high levels of customer service.<br /><ul><li>Differentiation</li></ul>– Traditional MasterCard World Signia and Visa Infinite cards all provide similar benefits .<br /><ul><li>High Card Fee</li></ul>- Benefits need to give value for money and justify the high cost of card ownership.<br /><ul><li>Market Leading
    21. 21. High Net Worth customers should want to be members of the card programme as it is recognised as the best available.</li></li></ul><li>Strategic Insurance Services <br />11<br />Product Suggestions - High Net Worth Segment<br /><ul><li>Car Rental Insurance </li></ul>– for frequent travellers this adds convenience and avoids the need to buy expensive additional insurances sold by car rental companies to protect the customer from a large excess.<br /><ul><li>Travel Insurance </li></ul> – high levels of cover and additional exclusive benefits such as winter sports and golf cover. Benefits should exceed those provided by other banks under their Infinite or Signia scheme <br /><ul><li>Airport Lounge Access
    22. 22. Concierge Services  </li></li></ul><li>Strategic Insurance Services <br />12<br />Product Development - Corporate Segment<br />Corporate/Business Cards <br />Business Banking is a profitable segment where the value of card benefits as a customer retention tool is not fully realised.<br /><ul><li>Cost Savings
    23. 23. Financial Climate
    24. 24. Disruption</li></li></ul><li>Strategic Insurance Services <br />13<br />Product Suggestions - Corporate Banking Segment<br /><ul><li>Trip Disruption Insurance </li></ul>– pays an hourly cash benefit in the event that a traveller’s flight or baggage is delayed. The benefit is paid regardless of any costs incurred by the cardholder and usually exceeds the cost of the original travel arrangements. <br /><ul><li>Travel Insurance </li></ul> – replace business travel policies bought by the company and include replacement employee cover in the event that the cardholder falls ill and cannot fulfil their duties on a trip. <br /><ul><li>Business Card Liability Waiver</li></ul>- Protects businesses against fraudulent use of the company credit card by employees .  <br />
    25. 25. Strategic Insurance Services <br />14<br />Product Suggestions - Corporate Banking Segment<br />(Continued) <br /><ul><li>Personal Accident Insurance </li></ul>– Replaces cover bought by the company to protect employees whilst travelling on behalf of the company. This would save businesses money spent in premiums. <br /><ul><li>Individual Cover</li></ul> – Insurance policies for individual business clients of the bank which can be used as sales tools. <br /><ul><li>Business Equipment Cover</li></ul>- Protects company equipment whilst it is being used on a businesses trip.  <br />
    26. 26. Strategic Insurance Services <br />15<br />Product Development - Affinity Partnerships<br />Co-Branded Cards <br />Many banks co-operate with established brand names in their local markets. <br />Co-branded cards are usually with airlines, retail or supermarket chains, car manufacturers, fuel companies, football clubs etc.<br />Strategic can design products specifically to support the partnership and encourage card use:<br /><ul><li>Airline Cards – free flight offered in the event that luggage is lost or flight delayed
    27. 27. Fuel and Car branded cards – accident insurance whilst they use the card to pay for fuels
    28. 28. Football Club Cards – Event cancellation for football matches or travel cover for away matches</li></li></ul><li>Strategic Insurance Services <br />16<br />Products - Additional <br />Strategic offers a number of additional insurances which can be branded to the banks requirements then sold to their customers to increase revenue or included free for a limited time in a marketing campaign; these include:<br /><ul><li>Excess Protection </li></ul>– pays the deductible or excess for all insurances held by the customer in the event of a claim. (Exclusively available through Strategic )<br /><ul><li>Keyman Insurance</li></ul> – ideal for the SME market as the insurance pays a benefit in the event that key directors fall ill causing the company to fail<br /><ul><li>Critical Illness and Loss of earnings
    29. 29. Expat Healthcare </li></ul>– covers medical expenses for banking customers or employees of corporate customers working overseas.<br />
    30. 30. Local Services<br />Logo Mümessillik A.Ş.<br /><ul><li>Local Agent for Strategic Insurance Services
    31. 31. 25 years experience in servicing banking customers
    32. 32. Turkish language support - 24/7 Assistance
    33. 33. Claims processing </li></ul>Strategic Insurance Services <br />17<br />
    34. 34. Thank YouAny Questions?<br />

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