Research and Markets: Insurance and Assistance Linked to Payment Cards and Bank Accounts in Northern and Central Europe

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/cfb244/insurance_and_assi) has announced the addition of the "Insurance and Assistance linked to Payment Cards and Bank Accounts in Northern and Central Europe" report to their offering.

“Insurance and Assistance linked to Payment Cards and Bank Accounts in Northern and Central Europe”

Finaccord's report titled Insurance and Assistance linked to Payment Cards and Bank Accounts in Northern and Central Europe investigates the market for insurance and assistance policies linked to banking products in Northern and Central Europe. Composed of a series of niche covers designed to enhance the revenues derived by banks from their payment card and current account operations, Finaccord's research indicates this market in Northern and Central Europe to have been worth some euro1.19 billion in 2008. Moreover, with insurance and assistance providers showing creativity in structuring new types of policy to cater for emerging customer segments, the sector seems to be destined for continuing growth. Drawing on the results of an investigation covering some 330 banking institutions and other issuers and distributors of credit cards in ten countries in Northern and Central Europe (Austria, the Czech Republic, Denmark, Germany, Hungary, Norway, Poland, Slovakia, Sweden and Switzerland), the report analyses the provision of a variety of different types of insurance and assistance policy in the broad categories of card and cash protection, travel cover, creditor, accident and health cover, shopping cover and other miscellaneous policies. Moreover, the PartnerBASE database that accompanies the report details each of more than 4,250 insurance or assistance enhancements to the c. 2,300 payment cards and bank accounts analysed.

Indeed, specific policy types investigated include each of the following: card and cash protection policies - card protection insurance, ATM cash theft insurance; travel policies - travel accident insurance, travel health insurance, travel assistance, travel inconvenience insurance, comprehensive travel insurance; creditor, accident and health policies - creditor insurance - life / permanent disability, creditor insurance - temporary incapacity / unemployment, personal accident insurance, accidental death insurance, health and hospital cash plans, health assistance; shopping policies - purchase protection insurance, price protection insurance, extended warranty; other policies - road assistance, home assistance, personal liability insurance, legal expenses insurance and assistance, mobile telephone insurance, identity protection insurance and assistance, car hire insurance, corporate liability waiver insurance, and miscellaneous other insurance.

Hence, this report and the PartnerBASE that accompanies it can be used in one or more of the following ways:

appreciate the magnitude of the opportunity in insurance and assistance linked to payment cards and bank accounts in Northern and Central Europe: in aggregate, this is a significant market;
gain access to a single comprehensive source of information that provides both the detail and analysis surrounding over 4,250 individual insurance or assistance enhancements;
identify opportunities to develop new forms of insurance or assistance linked to payment cards and bank accounts in line with the marketing strategies of banking institutions and other card issuing entities in Northern and Central Europe;
understand the supply structure for insurance and assistance enhancements and how the market segments between international specialists, local providers and captive underwriters;
gain insight into the international presence of leading protagonists in this sector including ACE, AIG, AXA Assistance, BNP Paribas Assurance, CPP, Europ Assistance and Genworth Financial.

Key Topics Covered:

0.0 EXECUTIVE SUMMARY

The regional market was worth around euro1.19 billion in gross premiums written in 2008
and should grow at an average annual rate in the 10%-15% bracket for the foreseeable future
Comprehensive travel insurance is the most commonly occurring type of enhancement
Programs are sometimes organised by centralised card issuers rather than individual distributors
Several providers have an identifiably international approach to the market
The market for insurance and assistance enhancements should continue to grow at a solid rate
as a consequence of the virtuous combination of a variety of factors
including the growing application of insurance and assistance to standard banking products
and changes in the demographic structure and general behaviour of consumers as a whole

1.0 INTRODUCTION

Rationale
Mainstream bancassurance markets are comparatively well documented
but less attention has been given to insurance and assistance linked to banking products
Insurance and assistance linked to banking products: Europe's 'covert' bancassurance market?
Methodology
The research program covers over 4,250 insurance and assistance enhancements
attached to close to 2,300 banking products offered by the universe of 332 banking entities
The basic units of analysis for the report are the payment cards and bank accounts themselves
Definitions
Finaccord
PartnerBASE