UK Personal Insurance Distribution: Banks & Retailers

Region:Europe

Author(s):

Product Code:FS0126IA

Download Sample Report download
Buy the Full ReportStarting from $3450
Published on

May 2018

Total pages

84

Table of Content

Download Sample Report download
Buy the Full ReportStarting from $3450

About the Report

About the Report

UK Personal Insurance Distribution: Banks & Retailers

Summary

"UK Personal Insurance Distribution: Banks & Retailers", report explores the significance of banks and retailers within personal lines. It addresses the benefits and challenges of distributing through the channels and provides a competitive overview of where retailers, banks, and building societies rank within the home, motor, pet, and travel insurance markets. This is followed by analysis of the main UK retailers and banks with regards to which insurance products they offer, how significant insurance is to them, what customer incentives they offer, and how much they spend on advertising general insurance. The key insurers that underwrite policies for affinities are also analyzed in relation to what their product strengths are, which companies they underwrite for, and what they offer as a partner.

An affinity scheme is a partnership in which an insurer underwrites insurance to be distributed via another company whose primary product or service is not insurance. This includes banks and retailers, which together account for just under a fifth of GWP from the personal lines market. Banks and building societies are strong within home insurance due to close links with mortgage arrangement, and in travel insurance because cover is often provided with added-value current accounts. Retailers are particularly strong within the pet insurance market. Affinities rely on their strong brand identities in order to cross-sell insurance to existing customers, using incentives such as discounts and loyalty schemes to boost uptake. Insurers play to their strengths within the affinity channel; they tend to underwrite lines in which they are already strong. Brokers provide affinities with access to multiple insurers, and thus are still important within the affinity channel - especially in motor insurance.

Scope

- The affinity channel is worth GBP 2.7bn in GWP.

- 52.5% of this share is accounted for by banks and building societies and 48.5% by high-street retailers.

- Tesco remains the leading affinity brand.

- Advertising spend continues its sharp decline in the affinity channel.

Reasons to buy

- Realise the significance of the affinity channel as a method of product distribution.

- Be prepared for the opportunities banks and retailers offer insurers.

- Ensure your products are successfully marketed and incentivized through the affinity channel.

- Benchmark yourself against other affinities and insurers in the market.

- Identify the key players in the market and see which insurers they are partnered with.

Products


Companies

Tesco Post Office Sainsbury's John Lewis Asda M&S The Co-operative Nationwide Halifax Lloyds Bank NatWest Santander Barclays HSBC Amazon Ageas U K Insurance Allianz RSA Aviva AXA

Table of Contents

Table of Contents

Table of Contents

Executive Summary

The Affinity Channel

Retailers

Banks and Building Societies

Insurers

Appendix

You can also purchase parts of this report.
Do you want to check out a section wise price list?
Get Price Break-up

Why Buy From US?

RRR
Refine Robust Result (RRR) Framework

What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story

reach
Our Reach Is Unmatched

We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.

Research
Shifting the Research Paradigm

While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.

Insite
More Insights-Better Decisions

With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.

Trust
Transparency and Trust

Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.

support
Round the Clock Support

If you need any support, we are here! We pride ourselves on universe strength, data quality, and quick, friendly, and professional service.

Why Client Choose Us?

400000+ Reports in repository
150+ Consulting project a year
100+ Analysts
8000+ Client Queries in 2022