Abstract
Finaccord' s report titled Affinity and Partnership Marketing in UK Accident
and Health Insurance represents the most detailed research ever undertaken on
this sector and is one of seven studies in a new series of publications.
Drawing on the results of a survey of 2,500 organisations, the report analyses
the penetration, operating models and partner market shares of affinity and
partnership marketing schemes for accident and health insurance across a range
of distributor categories.
These include banks, building societies, charities, friendly societies,
Internet, media and telecoms entities, on-line aggregators and brokers,
professional associations, retailers, trade associations and trade unions.
Moreover, the PartnerBASE™ database that accompanies the report provides
the granular detail behind the analysis, detailing each of the more than 300
affinity and partnership marketing initiatives traced by Finaccord in this
sector.
In the context of this report, accident insurance embraces all types of policy
usually encompassed by the definition, including personal accident insurance,
accidental death insurance, accident cash plans and serious injury plans, but
with the exception of creditor or payment protection insurance. In a similar
vein, health insurance refers to dental expenses policies, health cash plans
and private medical insurance but, again, omits creditor or payment protection
insurance.
You may be able to use this report and associated PartnerBASE™ database
in one or more of the following ways:
- drill down into the detail lying behind affinity and partnership marketing
schemes for accident and health insurance in the UK;
- gain access to research that chronicles the vast majority of affinity
marketing opportunities in accident and health insurance;
- benchmark the competitive position of your own organisation in affinity and
partnership marketing of accident and health insurance and spot opportunities
for displacing rivals;
- gain a wider perspective from learning about recent innovations in
partnership marketing of insurance in continental Europe and Ireland;
- plan your future affinity and partnership marketing strategy for accident
and health insurance armed with the best market and competitor intelligence
available on this subject.
Table of Contents
0.0 EXECUTIVE SUMMARY
- Research background and structure
- Accident and health insurance embraces a variety of different types of
protection policy
- A majority of affinity marketing schemes for accident insurance are
organised through brokers
- … although AIG and HMCA are identifiable as the leading specialist
providers in this field
- Over a quarter of organisations surveyed in 18 sub-categories offer health
insurance
- … with BUPA emerging as the provider with the highest outright
number of exclusive partnerships
- Key success factors for affinity marketing in accident and health
insurance vary by type of policy
- … and there is scope for comparing developments in the UK with
those in continental Europe
1.0 INTRODUCTION
- Finaccord
- UK affinity and partnership marketing publications
- Other UK consumer research publications
- PartnerBASE™
- Definitions
- Rationale
- The channels used to distribute financial products and services in the UK
continue to proliferate
- … with on-line affinity and partnership marketing having growing
rapidly in importance of late
- Methodology
- Errors, omissions and limit of liability
2.0 MARKET OVERVIEW
- Affinities and partnerships in UK accident and health insurance
- Over 10% of organisations surveyed in nine sub-categories promote accident
insurance
- … with most schemes organised through brokers rather than placed
directly with underwriters
- Affinity programs for health insurance are more widespread than those for
accident insurance
- … with BUPA having established the highest outright number of deals
with partner organisations
3.0 NOT-FOR-PROFIT AFFINITY GROUPS
- 3.1 Charities
- Introduction
- Analysis of partnerships
- Three charities are engaged in marketing accident and health insurance
policies to supporters
- intune' s main target market is the affluent over-50 age group served by
Saga
- … and the company is interested in working with suppliers that
fulfil a variety of criteria
- intune is employing a multi-channel distribution strategy including the
charity' s high street outlets
- … as it seeks to reach an operating profit of £15 million
per annum by 2012
- 3.3 Professional associations
- Introduction
- Over 50 professional associations possess in excess of 5,000 individual
members
- Analysis of partnerships
- The vast majority of professional associations offering motor insurance
do so through a broker
- … with Parliament Hill having expanded its roster of member
benefits clients to 11 associations
- A further three brokers each claim to more than one deal in the
professional association segment
- Almost a half of associations have organised health insurance schemes
for their members
- BUPA and HMCA rank among the foremost providers to the professional
association sector
- … although other protagonists including Benenden Healthcare and
WPA are also active
- 3.4 Sports organisations
- Introduction
- Analysis of partnerships
- Perkins Slade has carved out a strong position for itself in the sports
organisation sector
- … having been appointed as the approved insurance broker to the
CCPR
- … although at least a dozen other firms are also active as
affinity providers in this market
- HMCA has begun to establish schemes for health insurance with sports
organisations
- 3.5 Trade associations
- Introduction
- Analysis of partnerships
- Over 5% of trade associations have organised the provision of
stand-alone accident insurance
- … although the provision rate for health insurance is nearly
three times higher
- BUPA and Private Health Partnership are most commonly used by trade
associations
- Private Health Partnership has built up a portfolio of around 8,000
mainly corporate clients
- 3.6 Trade unions
- Introduction
- Analysis of partnerships
- AIG has established several distribution deals for accident insurance
with trade unions
- A number of trade unions have organised propositions in the area of
health insurance
- … with both BUPA and Simplyhealth' s HSA each claiming more than
one affinity partnership
- 3.7 Other not-for-profit affinity groups
- Introduction
- Lifestyle organisations
- The Countryside Alliance collaborates with R.K. Harrison for specialist
accident insurance
4.0 FINANCIAL PARTNERS
- 4.1 Banks
- Introduction
- Analysis of partnerships
- Only a handful of retail banks in the UK offer accident insurance on a
stand-alone basis
- … although a significant amount of behind-the-scenes
tele-marketing is also taking place
- … which also extends to lower cost health policies in addition to
private medical insurance
- 4.2 Building societies
- Introduction
- Analysis of partnerships
- Building societies display limited visible interest in non-creditor
accident and health insurance
- 4.3 Credit cards and premium accounts
- Introduction
- Analysis of partnerships
- Accident and health insurance coverages are rarely packaged with banking
products
- … although Alliance & Leicester' s Premier 50 Health Benefits
concept is an innovative service
- 4.4 Credit unions
- Introduction
- Analysis of partnerships
- Norwich Union accesses the credit union market as the approved supplier
of CUNA Mutual
- … although the Scottish Police Credit Union has also established
an affinity link with BUPA
- 4.5 Friendly societies
- Introduction
- Analysis of partnerships
- Friendly society involvement in accident and health insurance remains
almost entirely internal
- 4.6 Insurance companies
- Introduction
- Analysis of partnerships
- PruHealth is aiming for an overall market share of 10% in private
medical insurance by 2011
- 4.7 On-line aggregators and brokers
- Introduction
- Analysis of partnerships
- Chase Templeton' s Preferred Medical is the partner of both Confused.com
and The Motley Fool
- 4.8 Specialised lenders
- Introduction
- Analysis of partnerships
- American Express has linked with Aetna' s Goodhealth Worldwide for an
expatriate health policy
5.0 COMMERCIAL ENTITIES
- 5.1 Automotive associations
- Introduction
- Analysis of partnerships
- Through First Assist, RAC is marketing a travel-related accident
insurance policy
- 5.2 Cricket and rugby clubs
- Introduction
- Analysis of partnerships
- Cricket and rugby clubs have no involvement in either accident or health
insurance
- … albeit both cricket and rugby attract sponsors from the
financial services sector
- 5.3 Football clubs
- Introduction
- Analysis of partnerships
- Football clubs display little appetite for affinity marketing of either
accident or health insurance
- 5.4 Internet, media and telecoms entities
- Introduction
- Analysis of partnerships
- ACE European Group maintains a link with Candis for personal accident
insurance
- Moneysupermarket.com and Insurancewide.com account for a majority of
media affinities
- 5.5 On-line price comparison providers
- Introduction
- Analysis of partnerships
- Only PriceRunner has established a searching facility for health
insurance under its own brand
- 5.6 Retailers
- Introduction
- Analysis of partnerships
- Retailers appear to remain wary about acting as partners for accident or
health insurance
- … although PruHealth' s alliance with Boots could be a key turning
point in the affinity market
- The Boots web site is the most frequently visited health and wellness
site in the UK
- … and the initial results from the partnership have been
encouraging in a variety of ways
- Greenbee will allow the John Lewis Partnership to expand its share of
total client expenditure
- Fit with the values of the John Lewis Partnership has been key to
selection of affinity partners
- 5.7 Other commercial entities
- Introduction
- Branded conglomerates
- Saga and Virgin leverage their brands across the full consumer financial
services spectrum
- Loyalty schemes
- The loyalty schemes category extends to a range of diverse travel and
other reward programs
- … with several offering members the chance points through
purchase of health insurance
- AIRMILES reconfigures its affinity strategy by forging a new link with
Lloyds TSB
- Delivering memorable experiences continues to be key to the AIRMILES
proposition
- Lloyds TSB hopes to leverage the relationship across a range of
financial services
- AIRMILES has bolstered its range of family-oriented redemption options
- … and is also in the process of rolling out a policy asserting
its ‘green’ credentials
- The Post Office
- The Post Office is seeking to grow its total portfolio of insurance
policies to two million by 2010
6.0 EUROPEAN INNOVATIONS
- Introduction
- Events in affinity and partnership marketing in Europe, 2006 and 2007
- Winter 2006
- AEGON expands bancassurance reach in Spain through link with local savings
bank
- Fondiaria SAI firms up link with Banca Popolare di Milano for
bancassurance venture
- Elvia reinforces position in travel insurance sector through new
distribution deals
- Estonian bank diversifies into non-life bancassurance by establishing
captive company
- AIB and Aviva finalise Irish bancassurance deal by combining life
insurance firms
- AXA and Adeslas co-operate for health insurance distribution in Spain
- Cattolica and Banca Lombarda extend life insurance distribution tie to 2010
- French banking and insurance partners pilot Séréna personal
assistance platform
- Spring 2006
- Spanish arm of CIGNA launches health insurance through Travel Club loyalty
program
- Fortis and An Post confirm Irish financial services joint venture
- MACIF and MNRA create affinity programs for small businesses in France
- Mapfre and Caja de Madrid extend scope of co-operation to automotive
finance
- Proteq ties with leading Dutch pharmacy chain for affinity insurance
venture
- ESFG and Crédit Agricole strengthen Portuguese bancassurance ties
- Aon and Delta Lloyd join forces for affinity insurance venture in the
Netherlands
- Summer 2006
- Fondiaria and Capitalia link for non-life bancassurance joint venture in
Italy
- Mondial Assistance renews international assistance contract with Chrysler
Jeep
- Cattolica strengthens strategic bancassurance tie with BPVN in Italy
- CNP launches new permanent disability and long-term care contract with
ASAC-FAPES
- BBVA and Sanitas combine in Spanish health insurance distribution deal
- AXA seals affinity insurance tie with Bertelsmann media club in Germany
- CNP extends major bancassurance deals in France through to end 2015
- Winterthur and Sanitas agree tie for health insurance distribution in
Switzerland
- Europäische expands card-related travel insurance deals in Germany
- Autumn 2006
- Aon Italia rolls out new propositions for professional affinity partner
- AXA buys major Greek bancassurance protagonist for €255 million
- French mutuals tie for retirement savings cross-selling initiative
- BBVA and Willis link for high net worth property insurance venture in Spain
- Uniqa commences bancassurance joint venture in Ukraine with Credo-Classic
- German catalogue retailer commences insurance marketing venture
- AXA replaces Talanx as SEB' s new bancassurance partner in Germany
- CNP' s life assistance arm forges tie with Chèque Domicile in France
- Santander Consumer Bank improves motor insurance offer for German car
buyers
- Winter 2007
- Zurich seals new manufacturer motor insurance deal with Suzuki in Germany
- AEGON forges new bancassurance link with Banca Transilvania in Romania
- … a distribution strategy also pursued by Aviva in the same country
with Finansbank
- CIGNA targets marine sports club members with health insurance proposition
in Spain
- Innovative distribution deals assist Spanish insurer Mapfre at home and
abroad
- French affinity broker launches new insurance policy through AOL link
- AEGON and ERGO tie for pensions cross-selling agreement in Poland
- Mapfre takes 50% stake in Spanish savings bank insurance unit
- Cattolica finalises bancassurance agreement with Banca Popolare di Vicenza
- Mondial Assistance establishes distribution agreement with Sanyres in Spain
- VIVAS Health secures distribution link with Hibernian Direct in Ireland
- Tie with statutory health insurer in Germany pays dividends for HUK Coburg
- Caisses d' Épargne and MACIF roll out individual health insurance
contracts in France
- Generali acquires bancassurance companies in Austria from BAWAG PSK
- Spring 2007
- ADAC and Zurich disclose launch joint venture insurance company in Germany
- Mapfre seals major bancassurance deals with Bankinter and BBVA in Spain
- Folksam and Swedbank initiate new bancassurance collaboration in Sweden
- AXA acquires stakes in Monte dei Paschi di Siena bancassurance firms
- Allianz links with Ferrari for car insurance policies in Germany
- Groupe Caisse d' Épargne and HSBC assume control of French
bancassurance firms
- AIB kicks off on-line motor insurance venture with Hibernian in Ireland
- Fondiaria SAI forges Italian bancassurance joint venture with Banca
Italease
- Summer 2007
- Generali and leading fuel retailer link for affinity tie in German
insurance
- Aviva rolls out a trio of new bancassurance deals in Italy, Poland and
Spain
- AEGON and Mapfre finalise bancassurance agreements with Spanish savings
banks
- Vienna Insurance Group links with OMV in ten countries in Central Europe
- La Caixa buys 50% stake held by Fortis in long-standing Spanish joint
venture
- Deutsche Postbank and Talanx extend German bancassurance link for 15 years
- ACE European Group sets up life company for continental affinity insurance
initiatives
- National Suisse and Coop Bank agree insurance co-marketing initiative
- Sogecap commences bancassurance operations in Bulgaria and Greece
- Groupama initiates link with integrated Internet and telecoms provider in
France
- Intesa Sanpaolo rolls out new approach to bancassurance in domestic market
- Citroën entrusts own-brand road assistance service to Mondial
Assistance
- ING takes control of Greek bancassurance joint venture as a part of ten
year deal
- Royal & SunAlliance targets Eastern Europe and Russia through GDII joint
venture
- Crédit Agricole buys 60% stake in non-life bancassurance entity
from AGF
- Generali and PPF Group commence joint venture deal in Central and Eastern
Europe
- Banco Popolare and Fondiaria SAI finalise new bancassurance joint venture
in Italy
- Autumn 2007
- Zurich links with TomTom for Europe-wide motor insurance distribution
venture
- Mondial Assistance secures international travel insurance ties with
Eurostar and KLM
- Genertel signs affinity insurance agreement with low-cost airline in Italy
- Groupama forges joint venture with software house for co-marketing in
France and abroad
- If P&C plans tie with Finnish retailer' s loyalty program from June 2008
onwards
- Allianz Suisse initiates manufacturer-branded insurance co-operation with
Volkswagen
- Deutsche Postbank secures non-life bancassurance agreement with HUK-Coburg
GRAPHICS / TABLES
- The affinity and partnership marketing universe
- Entities contacted for the research, segmented by broad category
- Affinity and partnership marketing schemes for accident insurance in the
UK: penetration by type of partner
- Affinity and partnership marketing schemes for accident ins. in the UK:
segmentation by op. model and comp
- Affinity and partnership marketing schemes for health insurance in the UK:
penetration by type of partner
- Affinity and partnership marketing schemes for health ins. in the UK:
segment. by op. model and competitor
- Charities offering accident and health insurance through partnerships
- Ranking of professional associations in the UK by actual or approximate
number of members
- Ranking of professional associations in the UK by actual or approximate
number of members (continued)
- Professional associations offering accident insurance: penetration,
operating models and partner market shares
- Professional associations offering health insurance: penetration,
operating models and partner market shares
- Sports organisations offering accident insurance: penetration, operating
models and partner market shares
- Sports organisations offering health insurance: penetration, operating
models and partner market shares
- Ranking of the top 50 trade associations in the UK by actual or
approximate number of members
- Trade associations offering accident insurance: penetration, operating
models and partner market shares
- Trade associations offering health insurance: penetration, operating
models and partner market shares
- Ranking of trade unions in the UK by actual or approximate number of
members
- Trade unions offering accident insurance: penetration, operating models
and partner market shares
- Trade unions offering health insurance: penetration, operating models and
partner market shares
- Lifestyle organisations offering accident insurance through partnerships
- Banks offering accident insurance: penetration, operating models and
partner market shares
- Banks offering health insurance: penetration, operating models and partner
market shares
- Building societies offering accident and health insurance through
partnerships
- Credit cards and premium accounts offering accident and health insurance
through partnerships
- Credit unions offering health insurance: penetration, operating models and
partner market shares
- Friendly societies offering accident insurance through partnerships
- Insurance companies offering health insurance through partnerships
- On-line aggregators and brokers offering health ins.: penetration,
operating models and partner market shares
- Specialised lenders offering accident and health insurance through
partnerships
- Automotive associations offering accident insurance through partnerships
- Football clubs offering accident and health insurance through partnerships
- Internet, media and telecoms entities offering accident insurance through
partnerships
- Internet, media and telecoms entities offering accident ins.: penetration,
op. models and partner market shares
- On-line price comparison providers offering health insurance through
partnerships
- Retailers offering accident and health insurance through partnerships
- Branded conglomerates offering accident and health insurance through
partnerships
- Loyalty schemes offering health insurance through partnerships
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