Abstract
Introduction
The Life and Pensions Competitor Tracker tracks strategic developments in
product innovation, customer targeting, M&A, partnerships and organic growth.
It provides expert analysis about trends developing in the global market,
supported by the strategic moves of 42 of its leading competitors.
Key reasons to purchase this research
- Track the strategic developments announced by 42 of your key competitors.
- Assess which geographies and strategic areas are seeing the most activity.
Table of Contents
OVERVIEW
- Catalyst
- Summary
- Methodology
INTRODUCTION
- The Life and Pensions Competitor Tracker provides both one month and 12
month views of developments
- Datamonitor tracks 42 key life and pensions providers and distributors
each quarter
- Datamonitor' s Life and Pensions Team provides analysis of the key
developments
- A fully searchable database of the past 12 months of developments is
also delivered alongside in the report
KEY TRENDS AND DEVELOPMENTS IN Q2 2009
- The life and pensions market has observed several competitor developments
and industry trends
- Innovating technology and delivery are important for competitors
- The lure of Asian markets continues but competitors have not forgotten
their existing customer base in developed countries
- Competitor developments in Q2 2009 are led by Aviva and Manulife
- The second quarter of 2009 records competitors keeping up the pace of
innovative developments
- Competitor developments in Q2 2009 equaled the previous quarter of 51
developments
- Competitors continue to dedicate their focus more on product innovation
compared to M&A, partnerships and organic growth
- Product innovation developments heavily outweigh customer targeting
innovations in Q2 2009
- Innovations in protection insurance and technological delivery emerge
strongly in Q2 2009
- Organic growth shows decreasing visibility in the market in Q2 2009
- Competitors are refocusing on operations in developed countries but Asia
still lures innovation
PRODUCT INNOVATION AND CUSTOMER TARGETING
- AMP Life Limited
- Australia: AMP launches superannuation products
- Aviva
- Australia: Aviva announces enhancements to its retirement products
portfolio
- Australia: Aviva supports the certainty of access to superannuation
benefits
- Australia: Aviva implements voice biometrics
- Ireland: Hibernian Aviva announces a deposit fund for pension investors
- Malaysia: CIMB launches EasyLife Health Plan
- Netherlands: Delta Lloyd reduces premium rates
- Romania: Aviva Romania launches two new online tools
- UK: Aviva launches a new website for advisors
- UK: Norwich Union Healthcare' s income protection solution becomes
automated
- UK: Norwich Union offers bereavement helpline for group life customers
- Friends Provident
- UK: Friends Provident launches Selling Techniques Toolkit for protection
- UK: Friends Provident launches eSelect
- UK: Friends Provident urges government to tackle poor online pensions
- Lincoln National
- US: Lincoln Financial Group announces family care reimbursement benefit
rider on LTD policies
- Liverpool Victoria
- UK: Liverpool Victoria extends its critical illness cover
- Lloyds Banking Group
- UK: Scottish Widows offers two new multi-manager funds
- Manulife
- Indonesia: Manulife Indonesia introduces a new Sharia unit and a new
Sharia-specific product
- Japan: Manulife Japan launches Yume-no-Teikibin
- Singapore: Manulife introduces C.A.R.E.
- US: John Hancock enhances group LTC care insurance and discounts program
- US: John Hancock launches a current assumption universal life insurance
product
- US: John Hancock introduces new retirement income product
- US: John Hancock introduces new variable life insurance product
- Skandia
- Singapore: Skandia International expands its product range in Singapore
- UK: Skandia launches new income generating protected product
- The Hartford
- US: The Hartford launches its revamped website
- US: The Hartford extends group life insurance coverage
M&A, PARTNERSHIPS AND ORGANIC GROWTH
- Allianz
- China: Allianz announces the establishment of Shandong branch
- China: Allianz and ICBC complete the share transfer of ICBC shares
through a private sale
- Aviva
- China: Aviva sets up a new office in Hubei province, China
- Poland: Commercial Union Poland changes name to Aviva
- Russia: Aviva acquires pension fund from ING in Russia
- UK: FDC takes over Lancyr
- Barclays
- Spain: Barclays and CNP enter into a joint venture in Spain, Portugal
and Italy
- BNP Paribas
- France: BNP Paribas acquires Fortis Bank and establishes partnership in
insurance with Fortis
- France: CNP Assurances and Malakoff Mederic introduce new pensions
business
- Korea: BNP Paribas Assurance agrees to increase stake in SHC&Life with
Shinhan Financial
- Vietnam: Vietcombank, Cardif and SeAbank introduce VCLI
- Co-operative Financial Services
- UK: The Co-operative Financial Services merger with Britannia is backed
by members
- Friends Provident
- UK: Friends Provident to offer its new stakeholder scheme to Swinton
employees
- Fortis
- Belgium: Fortis Insurance Belgium rebrands its business
- UK: Tesco enters into a partnership with Fortis
- HSBC Holdings
- China: HSBC launches joint insurance company in partnership with
National Trust
- Lincoln National
- UK: Lincoln Financial Group announces sale of its Lincoln UK subsidiary
- Lloyds Banking Group
- UK: Scottish Widows and Clerical partners to provide single intermediary
product proposition
- Manulife
- China: Manulife-Sinochem Life Insurance announces a new branch in
Shenyang
- US: CHCS Services agrees to manage John Hancock Long-Term Care
Insurance' s provider discount and caregiver programs
- US: John Hancock acquires Federal Long Term Care Insurance Program
contract
- Prudential
- Taiwan: Prudential completes the transfer of assets and liabilities in
Taiwan to China Life Insurance of Taiwan
- Prudential US
- US: Prudential Retirement and Hewitt Associates offer IncomeFlex Target
APPENDIX
- Methodology
- Ask the analyst
- Datamonitor consulting
- Disclaimer
TABLES
- Table: The 42 companies covered by Datamonitor' s Life and Pensions
Competitor Tracker
- Table: Competitors achieving more than 3 product innovations in the past
12 months
FIGURES
- Figure: Competitor developments totaled 51 developments in Q1 2009
- Figure: Products innovation developments continue their dominance over
M&A, partnership or organic growth activities
- Figure: Product innovations feature more strongly than customer targeting
developments
- Figure: Innovations in technology emerge strongly in the second quarter
- Figure: Partnership activity is more rife in Q2 2009 compared to M&A or
organic growth developments
- Figure: Competitors are refocusing on their operations in developed
countries
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