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市場調查報告書

馬來西亞的銀行保險市場: 人壽保險,產物保險,及債權人保險

Bancassurance in Malaysia: Life, Non-Life and Creditor Insurance

出版商 Finaccord Ltd. 商品編碼 310699
出版日期 內容資訊 英文 59 Pages
商品交期: 最快1-2個工作天內
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馬來西亞的銀行保險市場: 人壽保險,產物保險,及債權人保險 Bancassurance in Malaysia: Life, Non-Life and Creditor Insurance
出版日期: 2014年07月01日 內容資訊: 英文 59 Pages
簡介

本報告詳查馬來西亞國內的銀行及其他貸款機關所經手的人壽保險、產物保險、及債權人保險市場。基於對馬來西亞國內50家銀行所進行的調查結果,闡明13種保險商品各銀行的比例。同時也詳細驗証、分析所經營的保險商品相關的各家銀行營運模式(利用外部保險業者,與保險業者合資企業,或是利用專屬的保險承擔業者等等),還有銀行及合作保險公司的佔有率等資訊。

摘要整理

第1章 序論

  • 關於本報告
  • 背景調查
  • 調查手法
  • 市場資料
  • 定義
  • PartnerBASE
  • 關於Finaccord

第2章 市場背景

  • 調查對象的銀行及其他貸款機關
  • 銀行產業的簡介
    • 基於客戶數的前十名為馬來西亞當地企業,其中許多家都已將事業擴大到東南亞各國
    • 外資銀行佔銀行系統總資產約23%,伊斯蘭系的銀行約佔21%
    • 保險整體市場中伊斯蘭教基準的保險佔相當大比例

第3章 投資相關的人壽保險及退休存款

  • 保險市場規模與市場成長
  • 主要銀行的處理佔有率
  • 銀行保險商品的提供率,營運模式,及企業合作
    • 投資相關人壽保險
    • 退休存款
    • 主要的銀行保險業者的實際成果

第4章 保障相關的人壽保險

  • 保險市場規模與市場成長
  • 主要銀行的處理佔有率
  • 銀行保險商品的提供率,營運模式,及企業合作
    • 高風險人壽保險
    • 重病疾病保險
  • 主要的銀行保險業者的實際成果

第5章 傷害保險及健康保險

  • 保險市場規模與市場成長
  • 主要銀行的處理佔有率
  • 銀行保險商品的提供率,營運模式,及企業合作
    • 傷害保險
    • 醫療保險
    • 健康保險/醫院快取計劃
  • 主要的銀行保險業者的實際成果

附表·附圖

目錄

Bancassurance in Malaysia: Life, Non-Life and Creditor Insurance is a study and related PartnerBASE™ dataset examining the provision of life, non-life and creditor insurance by banks and other lending institutions in Malaysia.

Drawing on the results of a survey of 50 banking entities in Malaysia, the study verifies the percentage of organisations investigated that distribute each of the following 13 types of insurance: accident insurance, creditor insurance related to consumer finance, creditor insurance related to credit cards, creditor insurance related to mortgages, critical illness insurance, health / hospital cash plans, household insurance, income protection insurance, investment-related life insurance, medical expenses insurance, personal motor insurance, retirement savings, and risk life insurance.

For those banking entities that are active in one or more of these fields, the reports ascertain the operating models that they use to source the type of insurance in question (e.g. external, joint venture or captive underwriters) and the identity of the specific providers used. This information is then displayed in terms of the weighted share of partnerships of these providers, which takes into account the number of retail customers of the partner banking entities, thus highlighting those insurance companies that hold the distribution relationships that offer the most potential.

You may be able to use this report, plus the PartnerBASE™ dataset and market data annexes that accompany it, in one or more of the following ways:

  • gain access to a source of information that provides a comprehensive overview of the provision of personal insurance products by all significant banking entities in Malaysia;
  • identify partnership opportunities for the same personal insurance products that may arise either because a banking institution is not currently active or because there is scope for replacing an existing initiative;
  • understand which underwriters and other product providers have been successful in establishing distribution relationships with the most important banking entities in Malaysia;
  • assess the background to the most significant bancassurance deals, differentiating between those that originate from long-term or strategic objectives and those that are more transient;
  • appreciate the magnitude of the opportunity to sell personal insurance products through banks and other lending institutions in Malaysia.

Overall, in a market in which banks hold a steadily advancing position in the life insurance sector, a significant share of non-life insurance and an importance presence in the market for Shariah-compliant takaful products, across the 50 banks and other lending institutions researched in Malaysia, Finaccord's research identified over 250 bancassurance distribution initiatives for the various types of insurance investigated.

Table of Contents

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

  • What is this report about?
    • Distribution partnerships with banks and other lending institutions constitute the focus of this report
  • Rationale
    • Bancassurance offers a significant distribution channel for life and non-life insurance in Malaysia and is also fairly important for Shariah-compliant takaful products
  • Methodology
    • Survey of banks and other lending institutions
  • Market data
  • Definitions
    • Investment-related life insurance
    • Retirement savings
    • Risk life insurance
    • Critical illness insurance
    • Income protection insurance
    • Accident insurance
    • Health / hospital cash plans
    • Medical expenses insurance
    • Personal motor insurance
    • Household insurance
    • Creditor insurance
    • Mortgages, consumer finance and credit cards
    • Weighted provider share of partnerships
    • Operating models
  • Abbreviations and exchange rates
  • PartnerBASE and market data annexe
  • Finaccord

2.0 MARKET BACKGROUND

  • Banks and other lending institutions covered
  • Introduction to the banking sector
    • The top ten banks by number of retail customers are all indigenous Malaysian entities and several are expanding elsewhere in south-east Asia
    • Foreign banks account for around 23% of the banking system's total assets and Islamic banking entities for around 21%
    • Shariah-compliant takaful insurance is also a significant segment within the overall insurance market

3.0 INVESTMENT-RELATED LIFE INSURANCE AND RETIREMENT SAVINGS

  • Insurance market size and growth
    • The market for investment-related life insurance has delivered steady growth in recent years
    • The private retirement savings market in Malaysia remains in an embryonic state with the Private Retirement Scheme (PRS) having been introduced quite recently
    • Consumer interest in both annuities and PRS funds has been muted
  • Distribution share of banks
    • The distribution share of banks in life insurance has been advancing gradually and is highest (as might be expected) in the single premium segment
  • Bancassurance provision rates, operating models and partnerships
    • Investment-related life insurance
      • The Malaysian bancassurance market is characterised by a significant number of joint ventures among which Etiqa is prominent in several fields, including investment-related life insurance
      • Sun Life entered into a long-term bancassurance partnership with CIMB Group in January 2013
      • AIA's purchase of ING Malaysia allowed it to inherit a pre-existing bancassurance deal with Public Bank
      • The third-ranked competitor is a specialist in family takaful products
      • AXA and Affin Holdings set up their bancassurance joint venture in 2006
      • MetLife bought into AmBank Group's bancassurance subsidiaries in April 2014 and Prudential expanded its joint venture relationship with BSN in the same month
      • Several other distribution agreements are determined by strategically-driven multi-country initiatives including that of Allianz with HSBC and that of Prudential with Standard Chartered
    • Retirement savings
      • A number of banks also offer products designed specifically for retirement savings sourced either from insurance companies or asset management firms
      • Captive and joint venture providers control a significant proportion of partnerships in this sphere
    • Performance of key bancassurance underwriters
      • Bank-owned life insurers sell through a variety of distribution channels in addition to bank branches hence their market share is a lot higher than the distribution share of banks would imply
      • Bank-owned life insurers are likely to be significant players in the family takaful market

4.0 PROTECTION-RELATED LIFE INSURANCE

  • Insurance market size and growth
    • The market for protection-related life insurance has grown at a real compound annual rate of 4.6%
  • Distribution share of banks
  • Bancassurance provision rates, operating models and partnerships
    • Risk life insurance
      • Risk life insurance policies are promoted by a majority of banking institutions surveyed with the leading bancassurers similar to those for investment-related life insurance
      • Manulife entered into a ten-year bancassurance agreement with Alliance Bank in June 2013
    • Critical illness insurance
      • Stand-alone critical illness cover is available from around one quarter of Malaysian banks
    • Income protection insurance
  • Performance of key bancassurance underwriters

5.0 ACCIDENT AND HEALTH INSURANCE

  • Insurance market size and growth
    • Health insurance premiums grew at a nominal compound annual rate of 15.3% between 2009 and 2013
  • Distribution share of banks
    • Banks' share of distribution for total non-life insurance has apparently declined in recent years
  • Bancassurance provision rates, operating models and partnerships
    • Accident insurance
      • By weighted share of partnerships, Etiqa is ranked first mainly due its use by Maybank and is followed by Prudential BSN Takaful, MSIG, Syarikat Takaful Malaysia and Takaful Ikhlas
    • Medical expenses insurance
      • The provision rate for medical expenses cover is lower than that for accident insurance with Prudential BSN Takaful ranked first in this field
      • A total of ten different insurance providers have secured bancassurance deals in this arena
    • Health / hospital cash plans
      • Banks are less likely to offer health or hospital cash plans than other types of accident and health policy and only six insurance providers have secured bank distribution deals for them
  • Performance of key bancassurance underwriters
    • The market share of key bancassurance underwriters in total non-life insurance remains fairly constant

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

  • Overview of bancassurance provision rates for different types of insurance in Malaysia, 2014

1.0 INTRODUCTION

  • Banks and other lending institutions in Malaysia contacted by Finaccord, segmented by type

2.0 MARKET BACKGROUND

3.0 INVESTMENT-RELATED LIFE INSURANCE AND RETIREMENT SAVINGS

  • Gross written premiums for investment-related life insurance and retirement savings in Malaysia, 2009
  • 2013
  • Gross written premiums for investment-related life insurance and retirement savings in Malaysia, 2009
  • 2013 (table)
  • Distribution share of banks in total (non-takaful) life insurance in Malaysia, 2010 to 2013
  • Bancassurance provision of investment-related life insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of retirement savings in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Market share in total (non-takaful) life insurance of key bancassurance underwriters in Malaysia, 2008
  • 2012

4.0 PROTECTION-RELATED LIFE INSURANCE

  • Gross written premiums for protection-related life insurance in Malaysia, 2009 to 2013
  • Gross written premiums for protection-related life insurance in Malaysia, 2009 to 2013 (table)
  • Bancassurance provision of risk life insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of critical illness insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships

5.0 ACCIDENT AND HEALTH INSURANCE

  • Gross written premiums for accident and health insurance in Malaysia, 2009 to 2013
  • Gross written premiums for accident and health insurance in Malaysia, 2009 to 2013 (table)
  • Distribution share of banks in total non-life insurance in Malaysia, 2008 to 2012
  • Bancassurance provision of accident insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of medical expenses insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of health / hospital cash plans in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Market share in total (non-takaful) non-life insurance of key bancassurance underwriters in Malaysia, 2008 to 2012
  • Market share in total (non-takaful) accident and health insurance of key bancassurance underwriters in
  • Malaysia, 2008 to 2012

6.0 PERSONAL MOTOR AND HOUSEHOLD INSURANCE

  • Gross written premiums for personal motor and household insurance in Malaysia, 2009 to 2013
  • Gross written premiums for personal motor and household insurance in Malaysia, 2009 to 2013 (table)
  • Bancassurance provision of personal motor insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of household insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Market share in total (non-takaful) motor insurance of key bancassurance underwriters in Malaysia, 2008 to 2012
  • Market share in total property insurance of key bancassurance underwriters in Malaysia, 2008 to 2012

7.0 CREDITOR INSURANCE

  • Residential mortgage lending balances outstanding in Malaysia (absolute and per capita), 2009 to 201346
  • Consumer non-mortgage lending balances outstanding in Malaysia (absolute and per capita), 2009 to 2013
  • Credit and other pay later cards issued and per capita in Malaysia, 2009 to 2013 48
  • Key data points for the consumer lending market in Malaysia, 2009 to 2013
  • Provision of creditor insurance linked to mortgages in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of creditor insurance linked to consumer finance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of creditor insurance linked to credit cards in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Risk coverage of creditor insurance policies in Malaysia, segmented by type of underlying product, 2014
  • Creditor insurance gross written premiums in Malaysia, segmented by policy type, 2009, 2013 and 2017
  • Creditor insurance gross written premiums in Malaysia, segmented by cover type, 2009, 2013 and 2017
  • Creditor insurance gross written premiums in Malaysia, segmented by policy and cover type, 2009, 2013 and 2017 (table)
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