Non-Life Bancassurance in Europe: Accident and Health Insurance

Dublin - Research and Markets (http://www.researchandmarkets.com/research/c38648/nonlife_bancassur) has announced the addition of the "Non-Life Bancassurance in Europe: Accident and Health Insurance" report to their offering.

Finaccords report titled Non-Life Bancassurance in Europe: Accident and Health Insurance is a dedicated study of the distribution of accident and health insurance, excluding creditor insurance, by European retail banks. The research is based on a survey of 670 retail banks and other lending institutions serving consumers and 370 banks focused on business customers in ten territories in Europe: Austria, Belgium, France, Germany, Italy, the Netherlands, the Nordic region (comprising Denmark, Norway and Sweden), Portugal, Spain and the UK / Republic of Ireland. By means of this investigation, the report sheds unprecedented light on the extent of involvement of banks across Europe in the distribution of both individual and group accident and health insurance policies. Types of insurance defined within this category vary according to the local market although typically include accidental death insurance, dental expenses insurance, health / hospital cash plans, personal accident insurance, private medical insurance and work incapacity insurance. In spite of the fact that both individual and group accident and health insurance policies are included within the standard non-life bancassurance portfolio of many banks in Europe this is the first time that a detailed study has ever been published on the subject in a combined market for accident and health insurance estimated to be worth around 87.9 billion in gross written premiums in 2005 across the territories covered by the research.

Furthermore, a variety of factors are combining to produce a more propitious environment in which banks and other lending institutions serving consumers can market accident and health insurance. Rapid growth in retail lending markets throws up opportunities for bancassurers to cross-sell different types of accident and health insurance instead of or in addition to mainstream creditor or payment protection insurance. In addition, cutbacks in state welfare provision should result in strong underlying development of private sector accident and health insurance markets. In addition, the PartnerBASE database which accompanies the publication offers a thorough means of researching current practice in bank-oriented distribution of accident and health insurance on a bank-by-bank, country-by-country or product-by-product basis. As such, this report and the associated PartnerBASE database constitute the most detailed research into the strategy of banks in accident and health insurance that has ever been completed on a published basis at the pan-European level.

Key Topics:

0.0 EXECUTIVE SUMMARY

- Combined, accident and health insurance premiums were worth 87.9 billion in 2005

- with a significant proportion of banks active in promoting both individual and group policies

- In most territories, bancassurers appear to be growing their share for this branch of insurance

- German banks continue to display an overwhelming preference for tied agency distribution

- Use of brokerage models is fairly common in Austria, the Netherlands and Spain

- with captive insurers to the fore in Belgium, France, the Netherlands and Portugal

- Austria: a significant proportion of banks display a preference for broker-oriented solutions

- Belgium: bank-owned insurers make important advances in both accident and health insurance

- France: bancassurers account for more than three quarters of sales of GAV policies

- Germany: the ossified nature of distribution partnerships may be stifling innovation

- Italy: bancassurers must seek to grow the under-developed accident and health insurance market

- Netherlands: for group schemes, several of the major banking networks distribute third party policies

- Nordic region: many banks market policies targeted specifically at children and students

- Portugal: bank-owned insurers account for more than 60% of total non-life insurance premiums

- Spain: BBVA and Sanitas set ambitious targets for their new health insurance partnership

- UK / Ireland: HSBC and CIGNA combine to sell health insurance to small and medium-sized firms

- Bancassurers will play a growing role in intermediation of accident and health insurance in Europe

- although their participation in this field must be characterised both by simplicity and innovation

- Opportunities can be expected to arise for both insurance underwriters and assistance providers

1.0 INTRODUCTION

- Finaccord

- Creditor insurance

- Mobile telephone insurance

- Travel insurance

- PartnerBASE

- Rationale

- The advance of banks in life insurance and retirement savings is amply documented

- although this report offers the first in-depth review of activity in accident and health insurance

- Methodology

- The research is based on a sample of 670 banks serving retail customers

- and a second survey of 370 banks serving business customers to cover group schemes

- Definitions

2.0 EUROPEAN OVERVIEW

- Introduction

- Market size and segmentation

- Gross premiums written advance at an annual average rate of 7.4% between 2001 and 2005

- The launch of GAV policies establishes France as Europes largest accident insurance market

- Germany accounts for almost 50% of health insurance premiums across the territories considered

- Penetration rates

- Individual accident insurance

- Banks in the UK and Ireland focus on loan-related policies rather than general purpose policies

- Individual health insurance

- Over 40% of retail banks in Europe promote health insurance to their customers

Group accident insurance

- Business banks in Austria and Germany are most likely to market group accident policies

- Group health insurance

- with their counterparts in Spain displaying a growing interest in selling group health schemes

- Operating models

- Individual accident and health insurance

- The use of captive insurers is most prevalent in Belgium, France, the Netherlands and Portugal

- Group accident and health insurance

- Broker models play virtually no part in bank-oriented distribution in Germany or the Nordic region

3.0 REGIONAL OVERVIEW

For more information visit http://www.researchandmarkets.com/research/c38648/nonlife_bancassur

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