Abstract
Finaccord' s report titled Affinity and Partnership Marketing in UK Motor and
Breakdown Recovery 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 motor and breakdown recovery
insurance across a range of distributor categories.
These include automotive manufacturers, 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 500 affinity and partnership marketing initiatives traced by
Finaccord in this sector.
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 motor and breakdown recovery insurance in the UK;
- gain access to research that chronicles the vast majority of affinity
marketing opportunities in motor and breakdown recovery insurance;
- benchmark the competitive position of your own organisation in affinity and
partnership marketing of motor and breakdown recovery 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 motor and
breakdown recovery insurance armed with the best market and competitor
intelligence available on this subject.
Table of Contents
0.0 EXECUTIVE SUMMARY
- Research background and structure
- Over a half of organisations surveyed in eight sub-categories offer motor
insurance
- … with the vast majority of programs identified now utilising a
brokerage operating model
- … albeit the leading providers in the affinity marketplace include
underwriters as well as brokers
- Most schemes for breakdown recovery insurance are placed directly with the
ultimate provider
- … with a number of smaller assistance firms challenging the
dominance of the AA and the RAC
- A variety of competitors are well-placed to profit from the likely future
trends in affinity marketing
- … and there is scope for comparing developments in the UK with
those in cont. 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
2.0 MARKET OVERVIEW
- Affinities and partnerships in UK motor and breakdown recovery insurance
- Finaccord' s research identifies 339 current affinity schemes for promoting
motor insurance
- … of which a majority are now based around brokerage or ‘open
architecture’ solutions
- Breakdown recovery insurance is sold by at least a proportion of 24 types
of affinity partner
- … with the AA and RAC combined accounting directly for over 40% of
the programs traced
3.0 NOT-FOR-PROFIT AFFINITY GROUPS
- 3.1 Charities
- Introduction
- Analysis of partnerships
- Motor insurance sold through charities works most effectively when there
is a clear rationale
- … although pure revenue generation can be an objective in its own
right
- Just two charities maintain stand-alone agreements for road assistance
- … 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
- 3.2 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 four brokers each claim to more than one deal in the
professional association segment
- The RAC maintains direct, exclusive relationships with a quartet of
professional associations
- 3.3 Sports organisations
- Introduction
- Analysis of partnerships
- Several affinity deals are in place for one or both of motor and
breakdown recovery insurance
- 3.4 Trade associations
- Introduction
- Analysis of partnerships
- Personal lines are sometimes offered as a ‘carry over’ from
commercial insurance schemes
- … which signifies that this is a field in which relationships are
dominated by insurance brokers
- For breakdown recovery insurance, RAC is affiliated to several
associations through LogBuy
- 3.5 Trade unions
- Introduction
- Analysis of partnerships
- LV=, Norwich Union and UIA are the foremost providers of motor insurance
to trade unions
- … although a number of unions prefer to collaborate with
companies outside of the leading trio
- Britannia Rescue lays claim to the highest number of exclusive deals for
road assistance
- 3.6 Other not-for-profit affinity groups
- Introduction
- Lifestyle organisations
- A number of schemes for motor-related policies are in evidence among
lifestyle organisaitons
- Political parties
- Both the Greens and the Liberal Democrats tie with the Environmental
Transport Association
4.0 FINANCIAL PARTNERS
- 4.1 Banks
- Introduction
- Analysis of partnerships
- A number of significant retail banking brands do not currently promote
motor insurance
- Through a brace of deals with banks, Equity Insurance Brokers entered
this sector in 2006
- Stand-alone provision of breakdown recovery insurance by banks has
declined
- 4.2 Building societies
- Introduction
- Analysis of partnerships
- Building society involvement in motor insurance distribution has
increased in recent years
- … largely driven by brokers such as Endsleigh, Equity Insurance
Brokers and Insure & Go
- 4.3 Credit cards and premium accounts
- Introduction
- Analysis of partnerships
- A majority of premium accounts offered by banks in the UK include free
road assistance
- 4.4 Credit unions
- Introduction
- Analysis of partnerships
- Heath Lambert accesses the credit union market as the approved supplier
of CUNA Mutual
- 4.5 Friendly societies
- Introduction
- Analysis of partnerships
- Only a handful of friendly societies offer motor insurance to their
customers
- 4.6 Insurers
- Introduction
- Analysis of partnerships
- Six insurance companies are identifiable as offering white-labelled
motor insurance policies
- RAC and Green Flag are the assistance providers most commonly used by
motor insurers
- … although both Europ Assistance and Inter Partner Assistance
have picked up external deals
- 4.7 On-line aggregators and brokers
- Introduction
- Analysis of partnerships
- BISL / comparethemarket.com and Insurancewide.com are the foremost
protagonists
- … although a clutch of other entities are also active as
quotation system providers in this sector
- Europ Assistance is linked directly to each of MRL Insurance Direct,
Quoteline Direct and RIAS
- 4.8 Specialised lenders
- Introduction
- Analysis of partnerships
- Motor insurance is distributed only four of the specialised lenders
surveyed
5.0 COMMERCIAL ENTITIES
- 5.1 Automotive associations
- Introduction
- Analysis of partnerships
- The partnership between the csma and LV= has been in place for over 80
years
- … and has helped to facilitate the transfer of ownership of
Britannia Rescue from csma to LV=
- 5.2 Automotive dealers, repair shops and supermarkets
- Introduction
- Analysis of partnerships
- Many automotive dealerships owe their survival to revenues derived from
financial services
- … and a number of firms in this category have created group-wide
insurance distribution deals
- The AA and the RAC possess the most group-wide deals albeit Kwik-Fit
works with Call Assist
- 5.3 Automotive manufacturers
- Introduction
- Analysis of partnerships
- The vast majority of automotive brands operate approved schemes for
motor insurance
- … with a number of important affinity mandates having changed in
recent months
- Three providers dominate the market for manufacturer-branded road
assistance
- 5.4 Cricket and rugby clubs
- Introduction
- Analysis of partnerships
- Cricket and rugby clubs are completely absent from affinity marketing of
motor insurance
- … albeit both cricket and rugby attract sponsors from the
financial services sector
- 5.5 Football clubs
- Introduction
- Analysis of partnerships
- Affinity propositions in motor insurance continue to be limited to a
fairly small number of clubs
- … with Endsleigh having emerged as the main protagonist by means
of its links with four clubs
- 5.6 Internet, media and telecoms entities
- Introduction
- Analysis of partnerships
- Insurancewide.com and Moneysupermarket.com account for a majority of
media affinities
- … although Confused.com is one of a number of players that is
also exploring this arena
- For breakdown recovery insurance, Auto Trader retains a traditional
affinity link with the RAC
- 5.7 On-line price comparison providers
- Introduction
- Analysis of partnerships
- A number of on-line price comparison providers offer own-brand insurance
searching facilities
- 5.8 Retailers
- Introduction
- Analysis of partnerships
- Many of the UK' s major retailing brands are being leveraged to promote
motor insurance
- … with Tesco having acknowledged the changing landscape by
launching Tesco Compare
- 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
- Several retailers also promote breakdown recovery insurance on a
stand-alone basis
- 5.9 Other commercial entities
- Introduction
- Branded conglomerates
- Saga and Virgin leverage their brands across the full consumer financial
services spectrum
- … with Saga having rolled out a price comparison site for motor
insurance in August 2007
- 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 motor 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 Chêque 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 motor insurance in the UK:
penetration by type of partner
- Affinity and partnership marketing schemes for motor ins. in the UK:
segmentation by op. model and competitor
- Affinity and partnership marketing schemes for breakdown recovery ins. in
the UK: pen. by type of partner
- Affinity / partner. Mktg. schemes for breakdown recovery ins. in the UK:
segment. by op. model and competitor
- Charities offering motor insurance: penetration, operating models and
partner market shares, 2007
- Charities offering breakdown recovery insurance through partnerships, 2007
- 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 motor insurance: penetration, operating
models and partner market shares
- Professional associations offering breakdown recovery ins.: penetration,
op. models and partner market shares
- Sports organisations offering motor and breakdown recovery insurance
through partnerships
- Ranking of the top 50 trade associations in the UK by actual or
approximate number of members
- Trade associations offering motor insurance: penetration, operating models
and partner market shares
- Trade associations offering breakdown recovery ins.: penetration,
operating models and partner market shares
- Ranking of trade unions in the UK by actual or approximate number of
members
- Trade unions offering motor insurance: penetration, operating models and
partner market shares
- Trade unions offering breakdown recovery insurance: penetration, operating
models and partner market shares
- Lifestyle organisations offering motor and breakdown recovery insurance
through partnerships
- Political parties offering motor and breakdown recovery insurance through
partnerships
- Banks offering motor insurance: penetration, operating models and partner
market shares
- Banks offering breakdown recovery insurance through partnerships
- Building societies offering motor insurance: penetration, operating models
and partner market shares
- Building societies offering breakdown recovery insurance through
partnerships
- Credit cards and premium accounts incorporating breakdown recovery
insurance
- Credit unions offering motor insurance: penetration, operating models and
partner market shares
- Friendly societies offering motor insurance and assistance through
partnerships
- Insurance companies offering motor insurance: penetration, operating
models and partner market shares
- Motor insurance companies offering breakdown recovery ins.: pen., op.
models and partner market shares
- On-line aggregators and brokers offering motor ins.: penetration,
operating models and partner market shares
- On-line aggregators and brokers offering breakdown recovery ins.: pen.,
op. models and partner market shares
- Specialised lenders offering motor insurance: penetration, operating
models and partner market shares
- Automotive associations offering motor insurance through partnerships
- Automotive associations offering breakdown recovery insurance through
partnerships
- Auto. dealers, repair shops and supermarkets offering motor ins.: pen.,
op. models and partner market shares
- Auto. dealers, repair shops / supermkts. Off. breakdown recovery ins.:
pen., op.models and partner mkt. shares
- Automotive manufacturers offering motor insurance: penetration, operating
models and partner market shares
- Automotive manufacturers offering breakdown recovery ins.: pen., op.
models and partner market shares
- Football clubs offering motor insurance: penetration, operating models and
partner market shares
- Internet, media and telecoms entities offering motor ins.: penetration,
op. models and partner market shares
- Internet, media / telecoms entities off. breakdown recovery ins.: pen.,
op. models and partner market shares
- On-line price comparison providers offering motor ins.: penetration, op.
models and partner market shares
- Retailers offering motor insurance: penetration, operating models and
partner market shares
- Retailers offering breakdown recovery insurance: penetration, operating
models and partner market shares
- Branded conglomerates offering motor and breakdown recovery insurance
through partnerships
- Loyalty schemes offering motor and breakdown recovery insurance through
partnerships
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