英国の学生向けバンキング・保険市場

Abstract

Finaccord' s report titled Student Metrics: Banking and Insurance for Students in the UK is a study about the provision of financial services to the 2.25 million students enrolled in further and higher education in the UK. Approaching this issue from the broadest possible perspective, this report investigates the market for current accounts and other banking products held by students, such as interest-bearing savings deposits, credit cards, mortgages, personal loans and car finance contracts, in addition to the specific issue of student debt. Furthermore, among other analyses, the report quantifies the market shares of leading banks as providers of student accounts and benchmarks the performance ratings of each as measured by their own student customers.

In addition, the Student Metrics investigation also casts light on the under-researched market for insurance bought by students. Indeed, it quantifies the total sum likely to be spent on insurance by students in 2007, breaking this down between classic student contents insurance and other types of insurance bought by this constituency including motor insurance, insurance for valuable mobile or portable items, sports insurance and travel insurance. Moreover, among students who have not taken out student contents insurance, it also investigates the amount that they would be willing to spend on this type of policy and quantifies the percentage of students who would not acquire this form of insurance in any circumstances.

Table of Contents

0.0 EXECUTIVE SUMMARY

• Over half of students with a bank account have signed up to a student banking package
• Several banks appear to be punching below their natural weight in the student banking market
• Students choose the provider of their main bank account in a variety of ways
• Students are least satisfied with the personal contact received from a named banking manager
• Among major banks, NatWest is generating the most satisfaction among its student customers
• Well over a third of students have taken out a credit card and 12.0% are using a bank loan
• The Student Loans Company accounts for the majority of student non-mortgage debt
• On average, resps. believe that they will take almost five years to pay off their student debt
• … although the likely time to repayment clearly varies in accordance with the subject studied
• A variety of dist. channels and interfaces are used for purchasing student contents insurance
• … although this makes up only a small prop. of total student expenditure on insurance in the UK
• … with motor insurance, sports insurance and travel insurance also featuring prominently
• … adding up to a total market for insurance bought by students that lies in excess of £500 million

1.0 INTRODUCTION

• Research rationale
• The report offers the most comprehensive research ever published on student financial services
• … with the market of immediate and strategic importance to both banks and insurance companies
• Research sample
• Research methodology and structure
• Finaccord
• Student Metrics and other consumer-focused studies
• UK affinity and partnership marketing publications
• IPT / Tpoll

2.0 STUDENT BANKING

• Introduction
• Over a quarter of students hold more than one current account
• … with many of these classifying their main account as a specifically designated student account
• Two banking groups together account for over 45% of main current accounts used by students
• Almost a third of students choose their current account provider simply by following their parents
• Around one half of students make use of an overdraft facility linked to their current account
• A majority of students intend to remain with their main bank once they have finished their studies
• Dissatisfaction is greatest in relation to personal contact received with a named bank. manager
• Student holdings of other banking products
• Over a third of students carry a credit card although few have taken out a bank loan
• Few students possess more than two relationships with banks or building societies
• The market for secondary relationships is more fragmented than that for main student accounts
• Student debt
• On average, respondents expect annual income of slightly over £4,000 during 2007
• Around one in five students claim to possess no net non-mortgage debt whatsoever
• The Student Loans Company accounts for an ave. of over 60% of non-mortgage student debt
• On average, students expect to build up almost £10,000 in net debt while they study
• … which suggests that they may be prone to under-estimating the debt that they will accumulate
• More than a quarter of students are unsure how long it will take to repay their accumulated debts
• Students of physical sciences are the least optimistic about paying off their debts in rapid time

3.0 BANK PERFORMANCE

• Introduction
• The satisfaction of students using each of the leading banks can be measured
• … both in overall terms and for eight key aspects of student banking service
• The results for banking performance are as robust as any that have hitherto been published
• Accessibility and opening hours of bank branches
• Breadth and quality of student financial services offered
• Ease of accessing overdraft or credit facilities
• Ease of contact with a student banking manager
• Frequency of contact with a student banking manager
• General conditions offered on student financial services
• Personal contact with a named student banking manager
• Quality of Internet banking service
• Overall satisfaction ratings
• Likelihood of changing main business current account
• Individual bank performance
• Abbey
• Alliance & Leicester
• Bank of Scotland
• Barclays
• Halifax
• HSBC
• Lloyds TSB
• Nationwide
• NatWest
• Royal Bank of Scotland
• Other banks

4.0 STUDENT INSURANCE

• Introduction
• Student contents insurance
• Almost a half of students live in a privately rented flat or house during term
• Over one in four students in the UK claims to be covered by student contents insurance
• Both physical and remote interfaces can be used to promote student contents insurance
• … with use of a variety of direct and intermediary distribution channels also in evidence
• Insured respondents spend an average of over £50.00 on student contents insurance
• … and a majority of uninsured students also suggest that they would be willing to take out cover
• Other types of insurance bought by students
• Well over a third of students are likely to need insurance for a car, moped or motor cycle
• … and many students also own one or more relatively high value mobile or portable items
• … which can be insured in three main ways including stand-alone policies specific to the item
• Three out of ten students in the UK participate in active or contact sports
• … although only a minority of these are covered by any form of sports insurance
• Over a half of students have undertaken significant travel during the last year
• … with most of these having been covered for travel risks during their most recent journey
• Student contents cover makes up only a small proportion of total student spend on insurance
• … with mainstream car insurance taking the lion' s share

GRAPHICS ⁄ TABLES

• Sample breakdown by age group, geographical location and education status
• Sample breakdown by student status, nationality and subject studied
• Student holdings of current accounts in the UK, 2007
• Student holdings of specifically designated student current accounts, 2007
• Bank market shares of current accounts held by students in the UK, 2007
• Importance of criteria used by students when choosing a current account provider, 2007
• Use of overdrafts linked to current accounts by students in the UK, 2007
• Likelihood of continuing with present current acc. provider upon comp. of studies of students in the UK, 2007
• Satisfaction levels with service offered by the bank holding their main current acc. of students in the UK, 2007
• Satisfaction levels with service off. by the bank holding their main current acc. of students in the UK, 2007 (data)
• Student holdings of other banking products in the UK, 2007
• Number of relationships held with banks and building societies by students in the UK, 2007
• Bank market shares of secondary relationships with students in the UK, 2007
• Approximate annual income from sources such as part-time and holiday jobs of students in the UK, 2007
• Current levels of net non-mortgage debt of students in the UK, 2007
• Seg. of non-mort. debt of students between the SLC, banks / bg. socs. and parents or other fam. membs., 2007
• Anticipated levels of net non-mortgage debt upon completion of studies of students in the UK, 2007
• Anticipated time required to pay back non-mort. debt upon completion of studies of students in the UK, 2007
• Ant. time required to pay back non-mort. debt upon comp. of studies of students, 2007 - ave. resp.by subject
• Accessibility and opening hours of bank branches: student evaluation of leading banks, 2007
• Breadth and quality of student financial services offered: student evaluation of leading banks, 2007
• Ease of accessing overdraft or credit facilities: student evaluation of leading banks, 2007
• Ease of contact with a student banking manager: student evaluation of leading banks, 2007
• Frequency of contact with a student banking manager: student evaluation of leading banks, 2007
• General conditions offered on student financial services: student evaluation of leading banks, 2007
• Personal contact with a named student banking manager: student evaluation of leading banks, 2007
• Quality of Internet banking service: student evaluation of leading banks, 2007
• Overall satisfaction ratings: student evaluation of leading banks, 2007
• Likelihood of studs. cont. with main current acc. when they complete studies: stud. eval. of leading banks, 2007
• Overview of performance of Abbey according to student customers, 2007
• Overview of performance of Alliance & Leicestesr according to student customers, 2007
• Overview of performance of Bank of Scotland according to student customers, 2007
• Overview of performance of Barclays according to student customers, 2007
• Overview of performance of Halifax according to student customers, 2007
• Overview of performance of HSBC according to student customers, 2007
• Overview of performance of Lloyds TSB according to student customers, 2007
• Overview of performance of Nationwide according to student customers, 2007
• Overview of performance of NatWest according to student customers, 2007
• Overview of performance of Royal Bank of Scotland according to student customers, 2007
• Overview of performance of other banks according to student customers, 2007
• Type of accommodation in which students reside during term in the UK, 2007
• Student holdings of student contents insurance in the UK, 2007
• Distribution interface used for taking out student contents insurance by students in the UK, 2007
• Distribution channel used for taking out student contents insurance by students in the UK, 2007
• Annual expenditure on student contents insurance by students in the UK, 2007
• Annual expenditure on student contents insurance that uninsured students would be prepared to pay, 2007
• Ownership of cars, motor cycles and mopeds by students in the UK, 2007
• Ownership of bicycles, mobile devices and musical instruments by students in the UK, 2007
• Holdings of insurance for bicycles among students owning bicycles in the UK, 2007
• Holdings of insurance for digital cameras among students owning digital cameras in the UK, 2007
• Holdings of insurance for laptop computers among students owning laptop computers in the UK, 2007
• Holds. of ins. for MP3 players / pers. CD players among studs. owning MP3 / pers. CD players in the UK, 2007
• Holdings of insurance for mobile telephones among students owning mobile telephones in the UK, 2007
• Holds. of ins. for high value, port. music. insts. among studs. own. high value, port. music. insts.in the UK, 2007
• Participation in active or contact sports by students in the UK, 2007
• Holdings of sports insurance by students participating in active or contact sports in the UK, 2007
• Propensity to undertake significant travel during the last year of students in the UK, 2007
• Holdings of travel insurance by UK students undertaking significant travel during the last year, 2007
• Approximate segmentation of annual expenditure by students on all forms of insurance in the UK, 2007
• Approximate segmentation of annual expenditure by students on all forms of insurance, 2007 (data / workings)